NAIANOVA: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
NAIANOVA
Largest movements
- Cash -€10,740
down €10,740 (-27.7%), from €38,749 to €28,009
mainly Other debts (-€50,024) and Net result for the year (-€12,527)
- Formation expenses -€2,622
down €2,622 (-22.6%), from €11,613 to €8,992
- Stocks and contracts -€1,360
down €1,360 (-100%), from €1,360 to €0
- Intangible fixed assets +€1,007
new in 2025: €1,007
- Deferred charges and accrued income -€884
down €884 (-83.4%), from €1,059 to €176
- Other debts -€50,024
down €50,024 (-99.0%), from €50,549 to €524
- Debts after one year +€50,000
new in 2025: €50,000
- Profit (loss) carried forward -€12,527
down €12,527 (-306%), from -€4,097 to -€16,624
- Trade debts -€3,139
down €3,139 (-98.3%), from €3,192 to €53
- Gross operating margin -€6,966
down €6,966 (-282%), from -€2,467 to -€9,433
- Depreciation +€1,488
up €1,488 (+90.2%), from €1,650 to €3,138
- Financial income +€110
up €110 (+177%), from €62 to €172
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,644 | €38,953 | -€15,690 | -28.7% |
| Formation expenses | 20 | €11,613 | €8,992 | -€2,622 | -22.6% |
| Fixed assets | 21/28 | €816 | €1,500 | +€684 | +83.8% |
| Intangible fixed assets | 21 | - | €1,007 | +€1,007 | |
| Tangible fixed assets | 22/27 | €816 | €492 | -€324 | -39.7% |
| Furniture and vehicles | 24 | €816 | €492 | -€324 | -39.7% |
| Current assets | 29/58 | €42,214 | €28,462 | -€13,752 | -32.6% |
| Stocks and contracts in progress | 3 | €1,360 | €0 | -€1,360 | -100% |
| Stocks | 30/36 | €1,360 | €0 | -€1,360 | -100% |
| Amounts receivable within one year | 40/41 | €1,046 | €277 | -€769 | -73.5% |
| Trade receivables | 40 | €746 | €139 | -€607 | -81.4% |
| Other amounts receivable | 41 | €300 | €138 | -€162 | -54.0% |
| Cash at bank and in hand | 54/58 | €38,749 | €28,009 | -€10,740 | -27.7% |
| Deferred charges and accrued income | 490/1 | €1,059 | €176 | -€884 | -83.4% |
| Total equity and liabilities | 10/49 | €54,644 | €38,953 | -€15,690 | -28.7% |
| Equity | 10/15 | €903 | -€11,624 | -€12,527 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,097 | -€16,624 | -€12,527 | -306% |
| Amounts payable | 17/49 | €53,741 | €50,578 | -€3,163 | -5.9% |
| Amounts payable after more than one year | 17 | - | €50,000 | +€50,000 | |
| Other amounts payable | 178/9 | - | €50,000 | +€50,000 | |
| Amounts payable within one year | 42/48 | €53,741 | €578 | -€53,163 | -98.9% |
| Trade debts | 44 | €3,192 | €53 | -€3,139 | -98.3% |
| Suppliers | 440/4 | €3,192 | €53 | -€3,139 | -98.3% |
| Other amounts payable | 47/48 | €50,549 | €524 | -€50,024 | -99.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,650 | €3,138 | +€1,488 | +90.2% |
| Other operating charges | 640/8 | - | €62 | +€62 | |
| Gross operating margin | 9900 | -€2,467 | -€9,433 | -€6,966 | -282% |
| Operating profit (loss) | 9901 | -€4,117 | -€12,633 | -€8,516 | -207% |
| Financial income | 75/76B | €62 | €172 | +€110 | +177% |
| Recurring financial income | 75 | €62 | €172 | +€110 | +177% |
| Financial charges | 65/66B | €42 | €66 | +€24 | +57.7% |
| Recurring financial charges | 65 | €42 | €66 | +€24 | +57.7% |
| Profit (loss) for the period before taxes | 9903 | -€4,097 | -€12,527 | -€8,430 | -206% |
| Profit (loss) for the period | 9904 | -€4,097 | -€12,527 | -€8,430 | -206% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,097 | -€12,527 | -€8,430 | -206% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.