NAROM: what changed
Two fiscal 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.
NAROM
Largest movements
- Cash -€65,965
down €65,965 (-51.9%), from €127,173 to €61,208
mainly Contributions, distributions and other (-€118,441) and Receivables within one year (-€31,139)
- Receivables within one year +€31,139
up €31,139 (+90.4%), from €34,431 to €65,570
of which Trade receivables: +€28,438
- Tangible fixed assets -€9,341
down €9,341 (-46.0%), from €20,310 to €10,969
of which Furniture and vehicles: -€7,810
- Reserves -€19,966
down €19,966 (-100.0%), from €19,966 to €0
- Tax, wage and social debts -€16,640
down €16,640 (-35.7%), from €46,628 to €29,988
- Current portion of long-term debt -€5,595
down €5,595 (-100.0%), from €5,595 to €0
- Other debts -€2,994
down €2,994 (-2.9%), from €103,669 to €100,675
- Gross operating margin +€25,051
up €25,051 (+22.6%), from €110,947 to €135,998
- Depreciation -€10,346
down €10,346 (-75.3%), from €13,742 to €3,396
- Taxes +€7,949
up €7,949 (+37.6%), from €21,146 to €29,094
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 | €181,914 | €137,747 | -€44,167 | -24.3% |
| Fixed assets | 21/28 | €20,310 | €10,969 | -€9,341 | -46.0% |
| Tangible fixed assets | 22/27 | €20,310 | €10,969 | -€9,341 | -46.0% |
| Furniture and vehicles | 24 | €12,312 | €4,502 | -€7,810 | -63.4% |
| Other tangible fixed assets | 26 | €7,998 | €6,467 | -€1,531 | -19.1% |
| Current assets | 29/58 | €161,604 | €126,778 | -€34,826 | -21.6% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €34,431 | €65,570 | +€31,139 | +90.4% |
| Trade receivables | 40 | €34,431 | €62,869 | +€28,438 | +82.6% |
| Other amounts receivable | 41 | - | €2,701 | +€2,701 | |
| Cash at bank and in hand | 54/58 | €127,173 | €61,208 | -€65,965 | -51.9% |
| Total equity and liabilities | 10/49 | €181,914 | €137,747 | -€44,167 | -24.3% |
| Equity | 10/15 | €24,966 | €5,000 | -€19,966 | -80.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €19,966 | €0 | -€19,966 | -100.0% |
| Distributable reserves | 133 | €19,966 | €0 | -€19,966 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €156,948 | €132,747 | -€24,201 | -15.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €156,563 | €131,849 | -€24,715 | -15.8% |
| Current portion of amounts payable after more than one year | 42 | €5,595 | €0 | -€5,595 | -100.0% |
| Trade debts | 44 | €671 | €1,185 | +€514 | +76.6% |
| Suppliers | 440/4 | €671 | €1,185 | +€514 | +76.6% |
| Taxes, remuneration and social security | 45 | €46,628 | €29,988 | -€16,640 | -35.7% |
| Taxes | 450/3 | €46,628 | €29,988 | -€16,640 | -35.7% |
| Other amounts payable | 47/48 | €103,669 | €100,675 | -€2,994 | -2.9% |
| Accrued charges and deferred income | 492/3 | €384 | €898 | +€514 | +133.7% |
| Non-recurring operating income | 76A | - | €6,452 | +€6,452 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,742 | €3,396 | -€10,346 | -75.3% |
| Other operating charges | 640/8 | €2,069 | €1,155 | -€914 | -44.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €110,947 | €135,998 | +€25,051 | +22.6% |
| Operating profit (loss) | 9901 | €95,136 | €131,447 | +€36,311 | +38.2% |
| Financial income | 75/76B | €1 | €259 | +€258 | +26030.3% |
| Recurring financial income | 75 | €1 | €259 | +€258 | +26030.3% |
| Financial charges | 65/66B | €3,465 | €4,136 | +€671 | +19.4% |
| Recurring financial charges | 65 | €3,465 | €4,136 | +€671 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €91,672 | €127,570 | +€35,898 | +39.2% |
| Income taxes | 67/77 | €21,146 | €29,094 | +€7,949 | +37.6% |
| Profit (loss) for the period | 9904 | €70,526 | €98,475 | +€27,949 | +39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €70,526 | €98,475 | +€27,949 | +39.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.