NARO GROUP: 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.
NARO GROUP
Largest movements
- Receivables within one year +€9,415
up €9,415 (+198%), from €4,767 to €14,181
of which Other amounts receivable: +€9,595
- Intangible fixed assets -€7,250
down €7,250 (-50.2%), from €14,441 to €7,191
- Cash -€2,461
down €2,461 (-43.5%), from €5,663 to €3,202
mainly Receivables within one year (-€9,415) and Trade debts (-€4,512)
- Stocks and contracts -€1,310
down €1,310 (-35.3%), from €3,716 to €2,405
- Profit (loss) carried forward +€5,969
up €5,969, from -€4,586 to €1,383
- Trade debts -€4,512
down €4,512 (-47.3%), from €9,548 to €5,037
- Tax, wage and social debts -€2,663
down €2,663 (-32.4%), from €8,230 to €5,567
of which Taxes: -€2,865
- Accrued charges and deferred income -€1,204
down €1,204 (-89.9%), from €1,340 to €136
- Other debts +€752
up €752, from €0 to €752
- Turnover -€35,481
down €35,481 (-13.2%), from €269,737 to €234,256
- Gross operating margin -€25,271
down €25,271 (-29.2%), from €86,678 to €61,407
- Purchases and services -€15,006
down €15,006 (-7.5%), from €199,091 to €184,086
- Staff costs -€7,163
down €7,163 (-14.8%), from €48,506 to €41,343
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 | €34,532 | €32,875 | -€1,657 | -4.8% |
| Fixed assets | 21/28 | €20,386 | €13,087 | -€7,300 | -35.8% |
| Intangible fixed assets | 21 | €14,441 | €7,191 | -€7,250 | -50.2% |
| Tangible fixed assets | 22/27 | €3,195 | €3,146 | -€50 | -1.6% |
| Plant, machinery and equipment | 23 | €1,456 | €445 | -€1,011 | -69.4% |
| Furniture and vehicles | 24 | €1,017 | €2,479 | +€1,462 | +144% |
| Other tangible fixed assets | 26 | €723 | €221 | -€501 | -69.4% |
| Financial fixed assets | 28 | €2,750 | €2,750 | = | 0.0% |
| Current assets | 29/58 | €14,145 | €19,788 | +€5,643 | +39.9% |
| Stocks and contracts in progress | 3 | €3,716 | €2,405 | -€1,310 | -35.3% |
| Stocks | 30/36 | €3,716 | €2,405 | -€1,310 | -35.3% |
| Amounts receivable within one year | 40/41 | €4,767 | €14,181 | +€9,415 | +198% |
| Trade receivables | 40 | €539 | €358 | -€181 | -33.5% |
| Other amounts receivable | 41 | €4,228 | €13,823 | +€9,595 | +227% |
| Cash at bank and in hand | 54/58 | €5,663 | €3,202 | -€2,461 | -43.5% |
| Total equity and liabilities | 10/49 | €34,532 | €32,875 | -€1,657 | -4.8% |
| Equity | 10/15 | €15,414 | €21,383 | +€5,969 | +38.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Capital | 10 | €20,000 | - | -€20,000 | |
| Issued capital | 100 | €20,000 | - | -€20,000 | |
| Profit (loss) carried forward | 14 | -€4,586 | €1,383 | +€5,969 | |
| Amounts payable | 17/49 | €19,118 | €11,492 | -€7,626 | -39.9% |
| Amounts payable within one year | 42/48 | €17,778 | €11,356 | -€6,422 | -36.1% |
| Trade debts | 44 | €9,548 | €5,037 | -€4,512 | -47.3% |
| Suppliers | 440/4 | €9,548 | €5,037 | -€4,512 | -47.3% |
| Taxes, remuneration and social security | 45 | €8,230 | €5,567 | -€2,663 | -32.4% |
| Taxes | 450/3 | €3,565 | €700 | -€2,865 | -80.4% |
| Remuneration and social security | 454/9 | €4,665 | €4,867 | +€203 | +4.3% |
| Other amounts payable | 47/48 | €0 | €752 | +€752 | |
| Accrued charges and deferred income | 492/3 | €1,340 | €136 | -€1,204 | -89.9% |
| Turnover | 70 | €269,737 | €234,256 | -€35,481 | -13.2% |
| Non-recurring operating income | 76A | €16,032 | €11,237 | -€4,795 | -29.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €199,091 | €184,086 | -€15,006 | -7.5% |
| Remuneration, social security and pensions | 62 | €48,506 | €41,343 | -€7,163 | -14.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,274 | €9,478 | -€796 | -7.8% |
| Other operating charges | 640/8 | €4,119 | €2,407 | -€1,711 | -41.6% |
| Gross operating margin | 9900 | €86,678 | €61,407 | -€25,271 | -29.2% |
| Operating profit (loss) | 9901 | €23,779 | €8,179 | -€15,600 | -65.6% |
| Financial income | 75/76B | €135 | €437 | +€302 | +223% |
| Recurring financial income | 75 | €135 | €437 | +€302 | +223% |
| Financial charges | 65/66B | €2,855 | €1,897 | -€958 | -33.6% |
| Recurring financial charges | 65 | €2,855 | €1,897 | -€958 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €21,059 | €6,719 | -€14,340 | -68.1% |
| Income taxes | 67/77 | - | €750 | +€750 | |
| Profit (loss) for the period | 9904 | €21,059 | €5,969 | -€15,090 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,059 | €5,969 | -€15,090 | -71.7% |
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 18 October 2026 via checked.be.