NAPA: 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.
NAPA
Largest movements
- Tangible fixed assets -€3,604
down €3,604 (-2.3%), from €158,141 to €154,537
- Profit (loss) carried forward -€14,888
down €14,888 (-9.3%), from -€160,382 to -€175,269
- Other debts +€9,998
up €9,998 (+3.9%), from €257,147 to €267,145
- Gross operating margin +€4,449
up €4,449, from -€1,006 to €3,442
- Financial charges -€685
down €685 (-85.6%), from €800 to €115
- Other operating charges +€475
up €475 (+19.6%), from €2,422 to €2,897
- Depreciation +€271
up €271 (+1.8%), from €15,048 to €15,318
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 | €167,714 | €163,084 | -€4,630 | -2.8% |
| Fixed assets | 21/28 | €158,141 | €154,537 | -€3,604 | -2.3% |
| Tangible fixed assets | 22/27 | €158,141 | €154,537 | -€3,604 | -2.3% |
| Land and buildings | 22 | €158,141 | €154,537 | -€3,604 | -2.3% |
| Current assets | 29/58 | €9,573 | €8,547 | -€1,026 | -10.7% |
| Amounts receivable within one year | 40/41 | €7,033 | €7,033 | = | 0.0% |
| Other amounts receivable | 41 | €7,033 | €7,033 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,540 | €1,514 | -€1,026 | -40.4% |
| Total equity and liabilities | 10/49 | €167,714 | €163,084 | -€4,630 | -2.8% |
| Equity | 10/15 | -€93,924 | -€108,812 | -€14,888 | -15.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,958 | €4,958 | = | 0.0% |
| Legal reserve | 130 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€160,382 | -€175,269 | -€14,888 | -9.3% |
| Amounts payable | 17/49 | €261,638 | €271,895 | +€10,257 | +3.9% |
| Amounts payable within one year | 42/48 | €261,638 | €271,895 | +€10,257 | +3.9% |
| Trade debts | 44 | €4,491 | €4,750 | +€259 | +5.8% |
| Suppliers | 440/4 | €4,491 | €4,750 | +€259 | +5.8% |
| Other amounts payable | 47/48 | €257,147 | €267,145 | +€9,998 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,048 | €15,318 | +€271 | +1.8% |
| Other operating charges | 640/8 | €2,422 | €2,897 | +€475 | +19.6% |
| Gross operating margin | 9900 | -€1,006 | €3,442 | +€4,449 | |
| Operating profit (loss) | 9901 | -€18,476 | -€14,773 | +€3,703 | +20.0% |
| Financial charges | 65/66B | €800 | €115 | -€685 | -85.6% |
| Recurring financial charges | 65 | €800 | €115 | -€685 | -85.6% |
| Profit (loss) for the period before taxes | 9903 | -€19,276 | -€14,888 | +€4,388 | +22.8% |
| Profit (loss) for the period | 9904 | -€19,276 | -€14,888 | +€4,388 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,276 | -€14,888 | +€4,388 | +22.8% |
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 5 October 2026 via checked.be.