Napagro: 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.
Napagro
Largest movements
- Stocks and contracts -€31,571
down €31,571 (-30.2%), from €104,636 to €73,065
- Receivables within one year -€26,942
down €26,942 (-22.8%), from €118,031 to €91,089
of which Trade receivables: -€15,722
- Cash +€15,763
up €15,763 (+191%), from €8,252 to €24,015
mainly Stocks and contracts (+€31,571) and Receivables within one year (+€26,942)
- Tangible fixed assets +€5,177
up €5,177 (+47.7%), from €10,854 to €16,032
of which Plant, machinery and equipment: +€6,222
- Debts after one year -€38,902
down €38,902 (-59.2%), from €65,748 to €26,846
- Reserves +€9,852
up €9,852 (+42.5%), from €23,163 to €33,015
- Trade debts -€9,064
down €9,064 (-8.1%), from €111,920 to €102,856
- Gross operating margin -€43,134
down €43,134 (-54.7%), from €78,924 to €35,790
- Taxes -€9,523
down €9,523 (-66.7%), from €14,279 to €4,756
- Other operating charges -€2,268
down €2,268 (-67.8%), from €3,344 to €1,076
- Staff costs +€802
up €802 (+7.1%), from €11,272 to €12,075
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 | €241,773 | €204,199 | -€37,574 | -15.5% |
| Fixed assets | 21/28 | €10,854 | €16,032 | +€5,177 | +47.7% |
| Tangible fixed assets | 22/27 | €10,854 | €16,032 | +€5,177 | +47.7% |
| Plant, machinery and equipment | 23 | €8,172 | €14,394 | +€6,222 | +76.1% |
| Furniture and vehicles | 24 | €2,682 | €1,637 | -€1,045 | -39.0% |
| Current assets | 29/58 | €230,919 | €188,168 | -€42,751 | -18.5% |
| Stocks and contracts in progress | 3 | €104,636 | €73,065 | -€31,571 | -30.2% |
| Stocks | 30/36 | €104,636 | €73,065 | -€31,571 | -30.2% |
| Amounts receivable within one year | 40/41 | €118,031 | €91,089 | -€26,942 | -22.8% |
| Trade receivables | 40 | €92,134 | €76,412 | -€15,722 | -17.1% |
| Other amounts receivable | 41 | €25,897 | €14,676 | -€11,221 | -43.3% |
| Cash at bank and in hand | 54/58 | €8,252 | €24,015 | +€15,763 | +191% |
| Total equity and liabilities | 10/49 | €241,773 | €204,199 | -€37,574 | -15.5% |
| Equity | 10/15 | €38,163 | €48,015 | +€9,852 | +25.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €23,163 | €33,015 | +€9,852 | +42.5% |
| Distributable reserves | 133 | €23,163 | €33,015 | +€9,852 | +42.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €203,610 | €156,184 | -€47,426 | -23.3% |
| Amounts payable after more than one year | 17 | €65,748 | €26,846 | -€38,902 | -59.2% |
| Financial debts | 170/4 | €65,748 | €26,846 | -€38,902 | -59.2% |
| Amounts payable within one year | 42/48 | €137,862 | €129,338 | -€8,524 | -6.2% |
| Trade debts | 44 | €111,920 | €102,856 | -€9,064 | -8.1% |
| Suppliers | 440/4 | €111,920 | €102,856 | -€9,064 | -8.1% |
| Taxes, remuneration and social security | 45 | €24,313 | €24,853 | +€540 | +2.2% |
| Taxes | 450/3 | €22,908 | €21,597 | -€1,311 | -5.7% |
| Remuneration and social security | 454/9 | €1,405 | €3,256 | +€1,851 | +132% |
| Other amounts payable | 47/48 | €1,629 | €1,629 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €11,272 | €12,075 | +€802 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,582 | €6,823 | +€241 | +3.7% |
| Other operating charges | 640/8 | €3,344 | €1,076 | -€2,268 | -67.8% |
| Gross operating margin | 9900 | €78,924 | €35,790 | -€43,134 | -54.7% |
| Operating profit (loss) | 9901 | €57,726 | €15,817 | -€41,909 | -72.6% |
| Financial income | 75/76B | €386 | €656 | +€270 | +69.8% |
| Recurring financial income | 75 | €386 | €656 | +€270 | +69.8% |
| Financial charges | 65/66B | €2,579 | €1,865 | -€715 | -27.7% |
| Recurring financial charges | 65 | €2,579 | €1,865 | -€715 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €55,533 | €14,608 | -€40,925 | -73.7% |
| Income taxes | 67/77 | €14,279 | €4,756 | -€9,523 | -66.7% |
| Profit (loss) for the period | 9904 | €41,254 | €9,852 | -€31,402 | -76.1% |
| Profit (loss) for the period to be appropriated | 9905 | €41,254 | €9,852 | -€31,402 | -76.1% |
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 16 October 2026 via checked.be.