NARLEX: 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.
NARLEX
Largest movements
- Current investments +€75,000
new in 2025: €75,000
- Cash -€57,586
down €57,586 (-50.6%), from €113,704 to €56,118
mainly Current investments (-€75,000) and Contributions, distributions and other (-€24,164)
- Receivables within one year +€19,920
new in 2025: €19,920
of which Other amounts receivable: +€17,856
- Tangible fixed assets +€5,247
up €5,247 (+66.0%), from €7,947 to €13,194
- Other debts +€24,136
up €24,136 (+86446.1%), from €28 to €24,164
- Reserves +€20,048
up €20,048 (+20.9%), from €96,007 to €116,055
- Gross operating margin -€5,004
down €5,004 (-7.6%), from €65,516 to €60,512
- Financial charges +€1,978
up €1,978 (+1563.4%), from €127 to €2,105
- Taxes -€1,285
down €1,285 (-9.5%), from €13,468 to €12,183
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 | €122,037 | €166,073 | +€44,036 | +36.1% |
| Fixed assets | 21/28 | €7,947 | €13,194 | +€5,247 | +66.0% |
| Tangible fixed assets | 22/27 | €7,947 | €13,194 | +€5,247 | +66.0% |
| Furniture and vehicles | 24 | €7,947 | €13,194 | +€5,247 | +66.0% |
| Current assets | 29/58 | €114,090 | €152,879 | +€38,789 | +34.0% |
| Amounts receivable within one year | 40/41 | - | €19,920 | +€19,920 | |
| Trade receivables | 40 | - | €2,065 | +€2,065 | |
| Other amounts receivable | 41 | - | €17,856 | +€17,856 | |
| Current investments | 50/53 | - | €75,000 | +€75,000 | |
| Cash at bank and in hand | 54/58 | €113,704 | €56,118 | -€57,586 | -50.6% |
| Deferred charges and accrued income | 490/1 | €386 | €1,841 | +€1,455 | +376.9% |
| Total equity and liabilities | 10/49 | €122,037 | €166,073 | +€44,036 | +36.1% |
| Equity | 10/15 | €98,507 | €118,555 | +€20,048 | +20.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €96,007 | €116,055 | +€20,048 | +20.9% |
| Distributable reserves | 133 | €96,007 | €116,055 | +€20,048 | +20.9% |
| Amounts payable | 17/49 | €23,530 | €47,518 | +€23,988 | +101.9% |
| Amounts payable within one year | 42/48 | €23,530 | €47,518 | +€23,988 | +101.9% |
| Trade debts | 44 | €3,176 | €2,320 | -€856 | -27.0% |
| Suppliers | 440/4 | €3,176 | €2,320 | -€856 | -27.0% |
| Taxes, remuneration and social security | 45 | €20,326 | €21,034 | +€709 | +3.5% |
| Taxes | 450/3 | €20,326 | €21,034 | +€709 | +3.5% |
| Other amounts payable | 47/48 | €28 | €24,164 | +€24,136 | +86446.1% |
| Non-recurring operating income | 76A | - | €11,774 | +€11,774 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,447 | €2,045 | +€598 | +41.3% |
| Other operating charges | 640/8 | €693 | €443 | -€250 | -36.0% |
| Gross operating margin | 9900 | €65,516 | €60,512 | -€5,004 | -7.6% |
| Operating profit (loss) | 9901 | €63,375 | €58,024 | -€5,351 | -8.4% |
| Financial income | 75/76B | €0 | €476 | +€476 | +4756500.0% |
| Recurring financial income | 75 | €0 | €476 | +€476 | +4756500.0% |
| Financial charges | 65/66B | €127 | €2,105 | +€1,978 | +1563.4% |
| Recurring financial charges | 65 | €127 | €2,105 | +€1,978 | +1563.4% |
| Profit (loss) for the period before taxes | 9903 | €63,249 | €56,395 | -€6,854 | -10.8% |
| Income taxes | 67/77 | €13,468 | €12,183 | -€1,285 | -9.5% |
| Profit (loss) for the period | 9904 | €49,781 | €44,211 | -€5,569 | -11.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,781 | €44,211 | -€5,569 | -11.2% |
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 12 October 2026 via checked.be.