NarcoVet: 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.
NarcoVet
Largest movements
- Intangible fixed assets -€10,000
down €10,000 (-11.3%), from €88,493 to €78,493
- Cash -€6,077
down €6,077 (-35.8%), from €16,985 to €10,908
mainly Debts after one year (-€19,195) and Investment in fixed assets (net) (-€11,037)
- Tangible fixed assets +€2,810
up €2,810 (+9.2%), from €30,691 to €33,501
of which Other tangible fixed assets: +€8,865
- Stocks and contracts +€2,548
up €2,548 (+24.4%), from €10,426 to €12,974
- Receivables within one year +€1,710
up €1,710 (+34.1%), from €5,013 to €6,723
of which Other amounts receivable: +€6,141
- Debts after one year -€19,195
down €19,195 (-18.5%), from €103,762 to €84,567
- Reserves +€5,121
up €5,121 (+35.1%), from €14,573 to €19,694
- Trade debts +€3,555
up €3,555 (+176%), from €2,022 to €5,577
- Tax, wage and social debts +€3,073
up €3,073 (+40.6%), from €7,561 to €10,634
of which Remuneration and social security: +€4,066
- Other debts -€2,098
down €2,098 (-79.6%), from €2,634 to €537
- Gross operating margin -€14,307
down €14,307 (-16.7%), from €85,469 to €71,163
- Taxes -€2,661
down €2,661 (-52.9%), from €5,027 to €2,367
- Depreciation -€1,551
down €1,551 (-7.8%), from €19,778 to €18,227
- Financial charges -€1,006
down €1,006 (-17.9%), from €5,635 to €4,629
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 | €154,025 | €145,878 | -€8,148 | -5.3% |
| Fixed assets | 21/28 | €119,535 | €112,345 | -€7,190 | -6.0% |
| Intangible fixed assets | 21 | €88,493 | €78,493 | -€10,000 | -11.3% |
| Tangible fixed assets | 22/27 | €30,691 | €33,501 | +€2,810 | +9.2% |
| Plant, machinery and equipment | 23 | €23,699 | €17,644 | -€6,055 | -25.5% |
| Other tangible fixed assets | 26 | €6,992 | €15,857 | +€8,865 | +127% |
| Financial fixed assets | 28 | €351 | €351 | = | 0.0% |
| Current assets | 29/58 | €34,490 | €33,533 | -€957 | -2.8% |
| Stocks and contracts in progress | 3 | €10,426 | €12,974 | +€2,548 | +24.4% |
| Stocks | 30/36 | €10,426 | €12,974 | +€2,548 | +24.4% |
| Amounts receivable within one year | 40/41 | €5,013 | €6,723 | +€1,710 | +34.1% |
| Trade receivables | 40 | €4,431 | €0 | -€4,431 | -100% |
| Other amounts receivable | 41 | €582 | €6,723 | +€6,141 | +1,055% |
| Cash at bank and in hand | 54/58 | €16,985 | €10,908 | -€6,077 | -35.8% |
| Deferred charges and accrued income | 490/1 | €2,067 | €2,928 | +€861 | +41.7% |
| Total equity and liabilities | 10/49 | €154,025 | €145,878 | -€8,148 | -5.3% |
| Equity | 10/15 | €19,573 | €24,694 | +€5,121 | +26.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €14,573 | €19,694 | +€5,121 | +35.1% |
| Distributable reserves | 133 | €14,573 | €19,694 | +€5,121 | +35.1% |
| Amounts payable | 17/49 | €134,452 | €121,184 | -€13,268 | -9.9% |
| Amounts payable after more than one year | 17 | €103,762 | €84,567 | -€19,195 | -18.5% |
| Financial debts | 170/4 | €103,762 | €84,567 | -€19,195 | -18.5% |
| Amounts payable within one year | 42/48 | €30,690 | €36,617 | +€5,927 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €18,473 | €19,870 | +€1,396 | +7.6% |
| Trade debts | 44 | €2,022 | €5,577 | +€3,555 | +176% |
| Suppliers | 440/4 | €2,022 | €5,577 | +€3,555 | +176% |
| Taxes, remuneration and social security | 45 | €7,561 | €10,634 | +€3,073 | +40.6% |
| Taxes | 450/3 | €3,416 | €2,423 | -€993 | -29.1% |
| Remuneration and social security | 454/9 | €4,145 | €8,211 | +€4,066 | +98.1% |
| Other amounts payable | 47/48 | €2,634 | €537 | -€2,098 | -79.6% |
| Remuneration, social security and pensions | 62 | €40,145 | €39,777 | -€369 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,778 | €18,227 | -€1,551 | -7.8% |
| Other operating charges | 640/8 | €340 | €1,097 | +€757 | +222% |
| Gross operating margin | 9900 | €85,469 | €71,163 | -€14,307 | -16.7% |
| Operating profit (loss) | 9901 | €25,206 | €12,062 | -€13,144 | -52.1% |
| Financial income | 75/76B | €30 | €54 | +€24 | +80.9% |
| Recurring financial income | 75 | €30 | €54 | +€24 | +80.9% |
| Financial charges | 65/66B | €5,635 | €4,629 | -€1,006 | -17.9% |
| Recurring financial charges | 65 | €5,635 | €4,629 | -€1,006 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €19,600 | €7,487 | -€12,113 | -61.8% |
| Income taxes | 67/77 | €5,027 | €2,367 | -€2,661 | -52.9% |
| Profit (loss) for the period | 9904 | €14,573 | €5,121 | -€9,453 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | €14,573 | €5,121 | -€9,453 | -64.9% |
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 23 October 2026 via checked.be.