NARF: 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.
NARF
Largest movements
- Receivables within one year +€868
up €868 (+40.8%), from €2,131 to €2,999
of which Other amounts receivable: +€657
- Tangible fixed assets -€820
down €820 (-83.9%), from €977 to €157
of which Furniture and vehicles: -€801
- Cash -€675
down €675 (-97.8%), from €690 to €15
mainly Net result for the year (-€7,982) and Receivables within one year (-€868)
- Profit (loss) carried forward -€7,982
down €7,982 (-43.9%), from -€18,194 to -€26,175
- Other debts +€7,174
up €7,174 (+33.9%), from €21,173 to €28,347
- Trade debts +€167
up €167 (+37.9%), from €440 to €606
- Gross operating margin +€3,403
up €3,403 (+39.0%), from -€8,737 to -€5,334
- Depreciation -€1,121
down €1,121 (-57.7%), from €1,941 to €820
- Taxes -€1,095
down €1,095 (-85.2%), from €1,286 to €190
- Financial charges -€278
down €278 (-50.1%), from €556 to €278
- Other operating charges -€115
down €115 (-7.8%), from €1,477 to €1,362
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 | €3,798 | €3,171 | -€627 | -16.5% |
| Fixed assets | 21/28 | €977 | €157 | -€820 | -83.9% |
| Tangible fixed assets | 22/27 | €977 | €157 | -€820 | -83.9% |
| Plant, machinery and equipment | 23 | €177 | €157 | -€20 | -11.1% |
| Furniture and vehicles | 24 | €801 | - | -€801 | |
| Current assets | 29/58 | €2,820 | €3,014 | +€194 | +6.9% |
| Amounts receivable within one year | 40/41 | €2,131 | €2,999 | +€868 | +40.8% |
| Trade receivables | 40 | - | €211 | +€211 | |
| Other amounts receivable | 41 | €2,131 | €2,788 | +€657 | +30.8% |
| Cash at bank and in hand | 54/58 | €690 | €15 | -€675 | -97.8% |
| Total equity and liabilities | 10/49 | €3,798 | €3,171 | -€627 | -16.5% |
| Equity | 10/15 | -€18,194 | -€26,175 | -€7,982 | -43.9% |
| Profit (loss) carried forward | 14 | -€18,194 | -€26,175 | -€7,982 | -43.9% |
| Amounts payable | 17/49 | €21,991 | €29,346 | +€7,355 | +33.4% |
| Amounts payable within one year | 42/48 | €21,991 | €29,346 | +€7,355 | +33.4% |
| Financial debts | 43 | - | €0 | +€0 | |
| Credit institutions | 430/8 | - | €0 | +€0 | |
| Trade debts | 44 | €440 | €606 | +€167 | +37.9% |
| Suppliers | 440/4 | €440 | €606 | +€167 | +37.9% |
| Taxes, remuneration and social security | 45 | €379 | €393 | +€14 | +3.7% |
| Taxes | 450/3 | €379 | €393 | +€14 | +3.7% |
| Other amounts payable | 47/48 | €21,173 | €28,347 | +€7,174 | +33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,941 | €820 | -€1,121 | -57.7% |
| Other operating charges | 640/8 | €1,477 | €1,362 | -€115 | -7.8% |
| Gross operating margin | 9900 | -€8,737 | -€5,334 | +€3,403 | +39.0% |
| Operating profit (loss) | 9901 | -€12,155 | -€7,516 | +€4,639 | +38.2% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €556 | €278 | -€278 | -50.1% |
| Recurring financial charges | 65 | €556 | €278 | -€278 | -50.1% |
| Profit (loss) for the period before taxes | 9903 | -€12,711 | -€7,791 | +€4,920 | +38.7% |
| Income taxes | 67/77 | €1,286 | €190 | -€1,095 | -85.2% |
| Profit (loss) for the period | 9904 | -€13,996 | -€7,982 | +€6,015 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,996 | -€7,982 | +€6,015 | +43.0% |
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 10 October 2026 via checked.be.