NAMUR PAVAGE: 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.
NAMUR PAVAGE
Largest movements
- Receivables within one year +€34,738
up €34,738 (+42.5%), from €81,775 to €116,513
of which Other amounts receivable: +€23,038
- Cash +€10,660
new in 2026: €10,660
mainly Net result for the year (+€45,430) and Trade debts (+€11,373)
- Tangible fixed assets +€6,736
up €6,736 (+23.3%), from €28,898 to €35,634
of which Furniture and vehicles: +€4,044
- Profit (loss) carried forward +€45,430
up €45,430 (+167%), from €27,200 to €72,630
- Trade debts +€11,373
up €11,373 (+1,147%), from €992 to €12,365
- Other debts -€8,144
no longer reported in 2026 (was €8,144)
- Tax, wage and social debts +€2,321
up €2,321 (+13.8%), from €16,810 to €19,131
of which Remuneration and social security: +€2,321
- Gross operating margin +€78,820
up €78,820, from -€14,284 to €64,536
- Taxes -€5,067
down €5,067 (-34.8%), from €14,567 to €9,500
- Depreciation +€1,778
new in 2026: €1,778
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €110,673 | €162,807 | +€52,134 | +47.1% |
| Fixed assets | 21/28 | €28,898 | €35,634 | +€6,736 | +23.3% |
| Tangible fixed assets | 22/27 | €28,898 | €35,634 | +€6,736 | +23.3% |
| Land and buildings | 22 | €28,326 | €28,326 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €2,693 | +€2,693 | |
| Furniture and vehicles | 24 | €572 | €4,616 | +€4,044 | +707% |
| Current assets | 29/58 | €81,775 | €127,173 | +€45,398 | +55.5% |
| Amounts receivable within one year | 40/41 | €81,775 | €116,513 | +€34,738 | +42.5% |
| Trade receivables | 40 | €74,077 | €85,777 | +€11,700 | +15.8% |
| Other amounts receivable | 41 | €7,698 | €30,735 | +€23,038 | +299% |
| Cash at bank and in hand | 54/58 | - | €10,660 | +€10,660 | |
| Total equity and liabilities | 10/49 | €110,673 | €162,807 | +€52,134 | +47.1% |
| Equity | 10/15 | €47,660 | €93,090 | +€45,430 | +95.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,200 | €72,630 | +€45,430 | +167% |
| Amounts payable | 17/49 | €63,013 | €69,716 | +€6,703 | +10.6% |
| Amounts payable within one year | 42/48 | €63,013 | €69,716 | +€6,703 | +10.6% |
| Financial debts | 43 | €23,466 | €24,619 | +€1,153 | +4.9% |
| Credit institutions | 430/8 | €23,466 | €24,619 | +€1,153 | +4.9% |
| Trade debts | 44 | €992 | €12,365 | +€11,373 | +1,147% |
| Suppliers | 440/4 | €992 | €12,365 | +€11,373 | +1,147% |
| Advances received on contracts in progress | 46 | €13,602 | €13,602 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €16,810 | €19,131 | +€2,321 | +13.8% |
| Taxes | 450/3 | €16,810 | €16,810 | = | 0.0% |
| Remuneration and social security | 454/9 | - | €2,321 | +€2,321 | |
| Other amounts payable | 47/48 | €8,144 | - | -€8,144 | |
| Remuneration, social security and pensions | 62 | €326 | - | -€326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,778 | +€1,778 | |
| Other operating charges | 640/8 | €927 | €668 | -€260 | -28.0% |
| Non-recurring operating charges | 66A | - | €3,498 | +€3,498 | |
| Gross operating margin | 9900 | -€14,284 | €64,536 | +€78,820 | |
| Operating profit (loss) | 9901 | -€15,537 | €58,592 | +€74,129 | |
| Financial charges | 65/66B | €3,575 | €3,662 | +€86 | +2.4% |
| Recurring financial charges | 65 | €3,575 | €3,662 | +€86 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,113 | €54,930 | +€74,043 | |
| Income taxes | 67/77 | €14,567 | €9,500 | -€5,067 | -34.8% |
| Profit (loss) for the period | 9904 | -€33,679 | €45,430 | +€79,110 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,679 | €45,430 | +€79,110 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.