NAOS SERVICES: 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.
NAOS SERVICES
Largest movements
- Tangible fixed assets +€78,349
up €78,349 (+39.1%), from €200,447 to €278,796
of which Land and buildings: +€83,158
- Receivables within one year +€32,455
up €32,455 (+49.0%), from €66,280 to €98,735
of which Trade receivables: +€36,103
- Cash +€16,149
up €16,149 (+3.0%), from €545,257 to €561,406
mainly Net result for the year (+€156,959) and Depreciation (+€41,904)
- Reserves +€140,000
new in 2025: €140,000
- Tax, wage and social debts +€38,604
up €38,604 (+77.8%), from €49,621 to €88,225
of which Taxes: +€32,698
- Debts after one year -€23,485
down €23,485 (-25.9%), from €90,838 to €67,353
- Other debts -€21,567
down €21,567 (-62.8%), from €34,352 to €12,785
- Gross operating margin +€104,038
up €104,038 (+33.3%), from €312,502 to €416,540
- Purchases and services +€38,839
up €38,839 (+20.1%), from €192,971 to €231,810
- Staff costs +€30,310
up €30,310 (+26.7%), from €113,315 to €143,625
- Depreciation +€28,210
up €28,210 (+206%), from €13,694 to €41,904
- Taxes +€26,616
up €26,616 (+65.0%), from €40,932 to €67,548
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 | €814,124 | €943,869 | +€129,745 | +15.9% |
| Fixed assets | 21/28 | €202,587 | €283,728 | +€81,141 | +40.1% |
| Tangible fixed assets | 22/27 | €200,447 | €278,796 | +€78,349 | +39.1% |
| Land and buildings | 22 | €67,845 | €151,003 | +€83,158 | +123% |
| Plant, machinery and equipment | 23 | €324 | €8,164 | +€7,840 | +2,420% |
| Furniture and vehicles | 24 | €132,278 | €119,629 | -€12,649 | -9.6% |
| Financial fixed assets | 28 | €2,140 | €4,932 | +€2,792 | +130% |
| Current assets | 29/58 | €611,537 | €660,141 | +€48,604 | +7.9% |
| Amounts receivable within one year | 40/41 | €66,280 | €98,735 | +€32,455 | +49.0% |
| Trade receivables | 40 | €52,962 | €89,065 | +€36,103 | +68.2% |
| Other amounts receivable | 41 | €13,318 | €9,670 | -€3,648 | -27.4% |
| Cash at bank and in hand | 54/58 | €545,257 | €561,406 | +€16,149 | +3.0% |
| Total equity and liabilities | 10/49 | €814,124 | €943,869 | +€129,745 | +15.9% |
| Equity | 10/15 | €598,395 | €740,354 | +€141,959 | +23.7% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Contributions outside capital | 11 | €14,260 | €14,260 | = | 0.0% |
| Other | 1109/19 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | - | €140,000 | +€140,000 | |
| Distributable reserves | 133 | - | €140,000 | +€140,000 | |
| Profit (loss) carried forward | 14 | €584,135 | €586,094 | +€1,959 | +0.3% |
| Amounts payable | 17/49 | €215,729 | €203,515 | -€12,214 | -5.7% |
| Amounts payable after more than one year | 17 | €90,838 | €67,353 | -€23,485 | -25.9% |
| Financial debts | 170/4 | €90,838 | €67,353 | -€23,485 | -25.9% |
| Amounts payable within one year | 42/48 | €124,891 | €136,162 | +€11,271 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €21,020 | €23,485 | +€2,465 | +11.7% |
| Trade debts | 44 | €19,898 | €11,667 | -€8,231 | -41.4% |
| Suppliers | 440/4 | €19,898 | €11,667 | -€8,231 | -41.4% |
| Taxes, remuneration and social security | 45 | €49,621 | €88,225 | +€38,604 | +77.8% |
| Taxes | 450/3 | €24,154 | €56,852 | +€32,698 | +135% |
| Remuneration and social security | 454/9 | €25,467 | €31,373 | +€5,906 | +23.2% |
| Other amounts payable | 47/48 | €34,352 | €12,785 | -€21,567 | -62.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €192,971 | €231,810 | +€38,839 | +20.1% |
| Remuneration, social security and pensions | 62 | €113,315 | €143,625 | +€30,310 | +26.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,694 | €41,904 | +€28,210 | +206% |
| Other operating charges | 640/8 | €6,467 | €3,127 | -€3,340 | -51.6% |
| Gross operating margin | 9900 | €312,502 | €416,540 | +€104,038 | +33.3% |
| Operating profit (loss) | 9901 | €179,026 | €227,884 | +€48,858 | +27.3% |
| Financial income | 75/76B | €2,259 | €2,615 | +€356 | +15.8% |
| Recurring financial income | 75 | €2,259 | €2,615 | +€356 | +15.8% |
| Financial charges | 65/66B | €924 | €5,992 | +€5,068 | +548% |
| Recurring financial charges | 65 | €721 | €5,757 | +€5,036 | +698% |
| Non-recurring financial charges | 66B | €203 | €235 | +€32 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €180,361 | €224,507 | +€44,146 | +24.5% |
| Income taxes | 67/77 | €40,932 | €67,548 | +€26,616 | +65.0% |
| Profit (loss) for the period | 9904 | €139,429 | €156,959 | +€17,530 | +12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €139,429 | €156,959 | +€17,530 | +12.6% |
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 13 October 2026 via checked.be.