NARPEX: 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.
NARPEX
Largest movements
- Cash -€6,675
down €6,675 (-19.5%), from €34,294 to €27,619
mainly Receivables within one year (-€4,098) and Trade debts (-€2,867)
- Receivables within one year +€4,098
up €4,098 (+53.1%), from €7,718 to €11,816
- Tangible fixed assets +€1,921
up €1,921 (+191.2%), from €1,005 to €2,926
- Reserves +€3,822
up €3,822 (+28.0%), from €13,671 to €17,492
- Trade debts -€2,867
down €2,867 (-96.7%), from €2,963 to €96
- Tax, wage and social debts -€2,809
down €2,809 (-24.1%), from €11,644 to €8,835
of which Taxes: -€2,909
- Other debts +€1,199
up €1,199 (+12.3%), from €9,738 to €10,937
- Gross operating margin -€12,684
down €12,684 (-68.6%), from €18,485 to €5,800
- Taxes -€2,441
down €2,441 (-70.7%), from €3,454 to €1,013
- Depreciation -€559
down €559 (-43.7%), from €1,281 to €722
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 | €43,017 | €42,361 | -€655 | -1.5% |
| Fixed assets | 21/28 | €1,005 | €2,926 | +€1,921 | +191.2% |
| Tangible fixed assets | 22/27 | €1,005 | €2,926 | +€1,921 | +191.2% |
| Furniture and vehicles | 24 | €1,005 | €2,926 | +€1,921 | +191.2% |
| Current assets | 29/58 | €42,012 | €39,435 | -€2,576 | -6.1% |
| Amounts receivable within one year | 40/41 | €7,718 | €11,816 | +€4,098 | +53.1% |
| Trade receivables | 40 | €7,718 | €11,816 | +€4,098 | +53.1% |
| Cash at bank and in hand | 54/58 | €34,294 | €27,619 | -€6,675 | -19.5% |
| Total equity and liabilities | 10/49 | €43,017 | €42,361 | -€655 | -1.5% |
| Equity | 10/15 | €18,671 | €22,492 | +€3,822 | +20.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €13,671 | €17,492 | +€3,822 | +28.0% |
| Distributable reserves | 133 | €13,671 | €17,492 | +€3,822 | +28.0% |
| Amounts payable | 17/49 | €24,346 | €19,869 | -€4,477 | -18.4% |
| Amounts payable within one year | 42/48 | €24,346 | €19,869 | -€4,477 | -18.4% |
| Trade debts | 44 | €2,963 | €96 | -€2,867 | -96.7% |
| Suppliers | 440/4 | €2,963 | €96 | -€2,867 | -96.7% |
| Taxes, remuneration and social security | 45 | €11,644 | €8,835 | -€2,809 | -24.1% |
| Taxes | 450/3 | €9,644 | €6,735 | -€2,909 | -30.2% |
| Remuneration and social security | 454/9 | €2,000 | €2,100 | +€100 | +5.0% |
| Other amounts payable | 47/48 | €9,738 | €10,937 | +€1,199 | +12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,281 | €722 | -€559 | -43.7% |
| Other operating charges | 640/8 | - | €174 | +€174 | |
| Gross operating margin | 9900 | €18,485 | €5,800 | -€12,684 | -68.6% |
| Operating profit (loss) | 9901 | €17,204 | €4,904 | -€12,299 | -71.5% |
| Financial income | 75/76B | €7 | €5 | -€1 | -22.6% |
| Recurring financial income | 75 | €7 | €5 | -€1 | -22.6% |
| Financial charges | 65/66B | €86 | €76 | -€10 | -11.8% |
| Recurring financial charges | 65 | €86 | €76 | -€10 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €17,125 | €4,834 | -€12,291 | -71.8% |
| Income taxes | 67/77 | €3,454 | €1,013 | -€2,441 | -70.7% |
| Profit (loss) for the period | 9904 | €13,671 | €3,822 | -€9,849 | -72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €13,671 | €3,822 | -€9,849 | -72.0% |
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 3 October 2026 via checked.be.