NAITO: what changed
Two fiscal 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.
NAITO
Largest movements
- Cash +€64,418
up €64,418 (+102.1%), from €63,071 to €127,489
mainly Net result for the year (+€76,527) and Other debts (+€30,000)
- Receivables within one year +€5,997
up €5,997 (+48.0%), from €12,504 to €18,501
of which Trade receivables: +€3,320
- Reserves +€41,233
up €41,233 (+75.2%), from €54,858 to €96,092
- Other debts +€30,000
new in 2025: €30,000
- Tax, wage and social debts +€3,236
up €3,236 (+30.8%), from €10,504 to €13,739
- Trade debts -€2,704
down €2,704 (-36.4%), from €7,420 to €4,716
- Gross operating margin +€27,981
up €27,981 (+37.7%), from €74,203 to €102,184
- Taxes +€5,763
up €5,763 (+38.2%), from €15,071 to €20,834
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.
Cash bridge derived
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 | €77,782 | €149,547 | +€71,765 | +92.3% |
| Fixed assets | 21/28 | €1,992 | €1,944 | -€48 | -2.4% |
| Tangible fixed assets | 22/27 | €1,992 | €1,944 | -€48 | -2.4% |
| Furniture and vehicles | 24 | €1,992 | €816 | -€1,176 | -59.0% |
| Other tangible fixed assets | 26 | - | €1,128 | +€1,128 | |
| Current assets | 29/58 | €75,791 | €147,603 | +€71,813 | +94.8% |
| Amounts receivable within one year | 40/41 | €12,504 | €18,501 | +€5,997 | +48.0% |
| Trade receivables | 40 | €12,504 | €15,824 | +€3,320 | +26.5% |
| Other amounts receivable | 41 | €0 | €2,678 | +€2,678 | |
| Cash at bank and in hand | 54/58 | €63,071 | €127,489 | +€64,418 | +102.1% |
| Deferred charges and accrued income | 490/1 | €215 | €1,613 | +€1,397 | +649.0% |
| Total equity and liabilities | 10/49 | €77,782 | €149,547 | +€71,765 | +92.3% |
| Equity | 10/15 | €59,858 | €101,092 | +€41,233 | +68.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €54,858 | €96,092 | +€41,233 | +75.2% |
| Distributable reserves | 133 | €54,858 | €96,092 | +€41,233 | +75.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,924 | €48,455 | +€30,532 | +170.3% |
| Amounts payable within one year | 42/48 | €17,924 | €48,455 | +€30,532 | +170.3% |
| Trade debts | 44 | €7,420 | €4,716 | -€2,704 | -36.4% |
| Suppliers | 440/4 | €7,420 | €4,716 | -€2,704 | -36.4% |
| Taxes, remuneration and social security | 45 | €10,504 | €13,739 | +€3,236 | +30.8% |
| Taxes | 450/3 | €10,504 | €13,739 | +€3,236 | +30.8% |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,054 | €1,191 | +€137 | +13.0% |
| Other operating charges | 640/8 | €449 | €1,138 | +€689 | +153.3% |
| Gross operating margin | 9900 | €74,203 | €102,184 | +€27,981 | +37.7% |
| Operating profit (loss) | 9901 | €72,700 | €99,855 | +€27,155 | +37.4% |
| Financial charges | 65/66B | €3,025 | €2,494 | -€532 | -17.6% |
| Recurring financial charges | 65 | €3,025 | €2,494 | -€532 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €69,674 | €97,361 | +€27,687 | +39.7% |
| Income taxes | 67/77 | €15,071 | €20,834 | +€5,763 | +38.2% |
| Profit (loss) for the period | 9904 | €54,604 | €76,527 | +€21,924 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,604 | €76,527 | +€21,924 | +40.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.