NAPERO: 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.
NAPERO
Largest movements
- Receivables within one year +€172,719
up €172,719 (+9,516%), from €1,815 to €174,534
of which Trade receivables: +€147,150
- Receivables after one year +€15,330
up €15,330 (+6.0%), from €255,492 to €270,821
- Reserves +€162,239
up €162,239 (+969%), from €16,739 to €178,978
- Tax, wage and social debts +€82,102
up €82,102 (+332%), from €24,706 to €106,808
- Debts after one year -€34,191
down €34,191 (-26.2%), from €130,661 to €96,469
- Other debts -€19,972
down €19,972 (-22.2%), from €89,818 to €69,845
- Gross operating margin +€146,549
up €146,549 (+205%), from €71,425 to €217,973
- Taxes +€44,127
up €44,127 (+337%), from €13,094 to €57,221
- Financial income +€10,172
up €10,172 (+171%), from €5,965 to €16,137
- Financial charges +€3,227
up €3,227 (+74.6%), from €4,325 to €7,551
- Other operating charges +€2,769
up €2,769 (+247%), from €1,119 to €3,888
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 | €327,135 | €519,286 | +€192,151 | +58.7% |
| Fixed assets | 21/28 | €5,585 | €8,326 | +€2,741 | +49.1% |
| Tangible fixed assets | 22/27 | €5,585 | €8,326 | +€2,741 | +49.1% |
| Furniture and vehicles | 24 | €5,585 | €8,326 | +€2,741 | +49.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €321,550 | €510,960 | +€189,410 | +58.9% |
| Amounts receivable after more than one year | 29 | €255,492 | €270,821 | +€15,330 | +6.0% |
| Other amounts receivable | 291 | €255,492 | €270,821 | +€15,330 | +6.0% |
| Amounts receivable within one year | 40/41 | €1,815 | €174,534 | +€172,719 | +9,516% |
| Trade receivables | 40 | €1,815 | €148,965 | +€147,150 | +8,107% |
| Other amounts receivable | 41 | - | €25,569 | +€25,569 | |
| Cash at bank and in hand | 54/58 | €62,815 | €64,102 | +€1,286 | +2.0% |
| Deferred charges and accrued income | 490/1 | €1,428 | €1,503 | +€76 | +5.3% |
| Total equity and liabilities | 10/49 | €327,135 | €519,286 | +€192,151 | +58.7% |
| Equity | 10/15 | €17,739 | €179,978 | +€162,239 | +915% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €16,739 | €178,978 | +€162,239 | +969% |
| Distributable reserves | 133 | €16,739 | €178,978 | +€162,239 | +969% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €309,395 | €339,308 | +€29,912 | +9.7% |
| Amounts payable after more than one year | 17 | €130,661 | €96,469 | -€34,191 | -26.2% |
| Financial debts | 170/4 | €130,661 | €96,469 | -€34,191 | -26.2% |
| Amounts payable within one year | 42/48 | €177,667 | €242,838 | +€65,171 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €36,307 | €39,355 | +€3,049 | +8.4% |
| Trade debts | 44 | €26,837 | €26,829 | -€8 | 0.0% |
| Suppliers | 440/4 | €26,837 | €26,829 | -€8 | 0.0% |
| Taxes, remuneration and social security | 45 | €24,706 | €106,808 | +€82,102 | +332% |
| Taxes | 450/3 | €24,706 | €106,808 | +€82,102 | +332% |
| Other amounts payable | 47/48 | €89,818 | €69,845 | -€19,972 | -22.2% |
| Accrued charges and deferred income | 492/3 | €1,068 | - | -€1,068 | |
| Non-recurring operating income | 76A | €1,425 | - | -€1,425 | |
| Remuneration, social security and pensions | 62 | €2,003 | - | -€2,003 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,788 | €3,211 | +€1,424 | +79.7% |
| Other operating charges | 640/8 | €1,119 | €3,888 | +€2,769 | +247% |
| Non-recurring operating charges | 66A | €696 | - | -€696 | |
| Gross operating margin | 9900 | €71,425 | €217,973 | +€146,549 | +205% |
| Operating profit (loss) | 9901 | €65,819 | €210,874 | +€145,055 | +220% |
| Financial income | 75/76B | €5,965 | €16,137 | +€10,172 | +171% |
| Recurring financial income | 75 | €5,965 | €16,137 | +€10,172 | +171% |
| Financial charges | 65/66B | €4,325 | €7,551 | +€3,227 | +74.6% |
| Recurring financial charges | 65 | €4,325 | €7,551 | +€3,227 | +74.6% |
| Profit (loss) for the period before taxes | 9903 | €67,460 | €219,460 | +€152,000 | +225% |
| Income taxes | 67/77 | €13,094 | €57,221 | +€44,127 | +337% |
| Profit (loss) for the period | 9904 | €54,365 | €162,239 | +€107,873 | +198% |
| Profit (loss) for the period to be appropriated | 9905 | €54,365 | €162,239 | +€107,873 | +198% |
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 26 October 2026 via checked.be.