NAROS: 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.
NAROS
Largest movements
- Receivables within one year +€16,419
up €16,419 (+154.1%), from €10,658 to €27,078
of which Trade receivables: +€16,412
- Tangible fixed assets -€11,417
down €11,417 (-28.9%), from €39,486 to €28,069
of which Furniture and vehicles: -€10,950
- Cash -€10,332
no longer reported in 2025 (was €10,332)
mainly Receivables within one year (-€16,419) and Debts after one year (-€10,281)
- Profit (loss) carried forward +€14,649
up €14,649 (+131.0%), from €11,182 to €25,831
- Debts after one year -€10,281
no longer reported in 2025 (was €10,281)
- Current portion of long-term debt -€6,601
down €6,601 (-39.1%), from €16,882 to €10,281
- Tax, wage and social debts -€3,544
down €3,544 (-28.6%), from €12,384 to €8,840
of which Remuneration and social security: -€2,350
- Other debts -€1,576
down €1,576 (-34.6%), from €4,562 to €2,986
- Depreciation -€5,247
down €5,247 (-31.5%), from €16,664 to €11,417
- Gross operating margin -€3,174
down €3,174 (-9.0%), from €35,197 to €32,023
- Financial charges -€1,855
down €1,855 (-54.8%), from €3,387 to €1,532
- Taxes +€697
up €697 (+19.6%), from €3,559 to €4,255
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 | €60,476 | €55,146 | -€5,329 | -8.8% |
| Fixed assets | 21/28 | €39,486 | €28,069 | -€11,417 | -28.9% |
| Tangible fixed assets | 22/27 | €39,486 | €28,069 | -€11,417 | -28.9% |
| Plant, machinery and equipment | 23 | €863 | €396 | -€467 | -54.1% |
| Furniture and vehicles | 24 | €38,623 | €27,673 | -€10,950 | -28.4% |
| Current assets | 29/58 | €20,990 | €27,078 | +€6,088 | +29.0% |
| Amounts receivable within one year | 40/41 | €10,658 | €27,078 | +€16,419 | +154.1% |
| Trade receivables | 40 | €10,237 | €26,649 | +€16,412 | +160.3% |
| Other amounts receivable | 41 | €421 | €428 | +€8 | +1.9% |
| Cash at bank and in hand | 54/58 | €10,332 | - | -€10,332 | |
| Total equity and liabilities | 10/49 | €60,476 | €55,146 | -€5,329 | -8.8% |
| Equity | 10/15 | €13,182 | €27,831 | +€14,649 | +111.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,182 | €25,831 | +€14,649 | +131.0% |
| Amounts payable | 17/49 | €47,293 | €27,315 | -€19,978 | -42.2% |
| Amounts payable after more than one year | 17 | €10,281 | - | -€10,281 | |
| Financial debts | 170/4 | €10,281 | - | -€10,281 | |
| Amounts payable within one year | 42/48 | €37,012 | €27,315 | -€9,697 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | €16,882 | €10,281 | -€6,601 | -39.1% |
| Financial debts | 43 | - | €949 | +€949 | |
| Credit institutions | 430/8 | - | €949 | +€949 | |
| Trade debts | 44 | €3,185 | €4,261 | +€1,075 | +33.8% |
| Suppliers | 440/4 | €3,185 | €4,261 | +€1,075 | +33.8% |
| Taxes, remuneration and social security | 45 | €12,384 | €8,840 | -€3,544 | -28.6% |
| Taxes | 450/3 | €10,034 | €8,840 | -€1,194 | -11.9% |
| Remuneration and social security | 454/9 | €2,350 | - | -€2,350 | |
| Other amounts payable | 47/48 | €4,562 | €2,986 | -€1,576 | -34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,664 | €11,417 | -€5,247 | -31.5% |
| Other operating charges | 640/8 | €485 | €180 | -€305 | -62.9% |
| Gross operating margin | 9900 | €35,197 | €32,023 | -€3,174 | -9.0% |
| Operating profit (loss) | 9901 | €18,048 | €20,426 | +€2,378 | +13.2% |
| Financial income | 75/76B | €80 | €10 | -€70 | -87.5% |
| Recurring financial income | 75 | €80 | €10 | -€70 | -87.5% |
| Financial charges | 65/66B | €3,387 | €1,532 | -€1,855 | -54.8% |
| Recurring financial charges | 65 | €3,387 | €1,532 | -€1,855 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €14,741 | €18,904 | +€4,163 | +28.2% |
| Income taxes | 67/77 | €3,559 | €4,255 | +€697 | +19.6% |
| Profit (loss) for the period | 9904 | €11,182 | €14,649 | +€3,466 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,182 | €14,649 | +€3,466 | +31.0% |
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 30 September 2026 via checked.be.