NARTHEX: 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.
NARTHEX
Largest movements
- Cash -€49,435
down €49,435 (-20.3%), from €243,270 to €193,835
mainly Other debts (-€71,213) and Tax, wage and social debts (-€10,072)
- Tangible fixed assets -€20,417
down €20,417 (-32.4%), from €63,089 to €42,672
of which Furniture and vehicles: -€15,473
- Receivables within one year -€8,123
down €8,123 (-23.9%), from €34,039 to €25,916
of which Other amounts receivable: -€15,249
- Other debts -€71,213
down €71,213 (-97.7%), from €72,922 to €1,709
- Tax, wage and social debts -€10,072
down €10,072 (-58.8%), from €17,124 to €7,052
of which Taxes: -€12,172
- Gross operating margin -€17,372
down €17,372 (-42.2%), from €41,138 to €23,766
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 | €341,231 | €263,287 | -€77,945 | -22.8% |
| Fixed assets | 21/28 | €63,089 | €42,672 | -€20,417 | -32.4% |
| Tangible fixed assets | 22/27 | €63,089 | €42,672 | -€20,417 | -32.4% |
| Land and buildings | 22 | €9,922 | €6,869 | -€3,053 | -30.8% |
| Plant, machinery and equipment | 23 | €6,935 | €6,977 | +€41 | +0.6% |
| Furniture and vehicles | 24 | €38,922 | €23,449 | -€15,473 | -39.8% |
| Other tangible fixed assets | 26 | €7,310 | €5,378 | -€1,932 | -26.4% |
| Current assets | 29/58 | €278,142 | €220,615 | -€57,527 | -20.7% |
| Amounts receivable within one year | 40/41 | €34,039 | €25,916 | -€8,123 | -23.9% |
| Trade receivables | 40 | €18,790 | €25,916 | +€7,126 | +37.9% |
| Other amounts receivable | 41 | €15,249 | - | -€15,249 | |
| Cash at bank and in hand | 54/58 | €243,270 | €193,835 | -€49,435 | -20.3% |
| Deferred charges and accrued income | 490/1 | €833 | €864 | +€31 | +3.7% |
| Total equity and liabilities | 10/49 | €341,231 | €263,287 | -€77,945 | -22.8% |
| Equity | 10/15 | €250,650 | €251,387 | +€736 | +0.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €238,250 | €238,987 | +€736 | +0.3% |
| Tax-exempt reserves | 132 | €27,888 | €27,888 | = | 0.0% |
| Distributable reserves | 133 | €210,362 | €211,098 | +€736 | +0.3% |
| Amounts payable | 17/49 | €90,581 | €11,900 | -€78,681 | -86.9% |
| Amounts payable within one year | 42/48 | €90,581 | €11,900 | -€78,681 | -86.9% |
| Trade debts | 44 | €534 | €3,139 | +€2,604 | +487.4% |
| Suppliers | 440/4 | €534 | €3,139 | +€2,604 | +487.4% |
| Taxes, remuneration and social security | 45 | €17,124 | €7,052 | -€10,072 | -58.8% |
| Taxes | 450/3 | €17,124 | €4,952 | -€12,172 | -71.1% |
| Remuneration and social security | 454/9 | - | €2,100 | +€2,100 | |
| Other amounts payable | 47/48 | €72,922 | €1,709 | -€71,213 | -97.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,556 | €22,738 | +€182 | +0.8% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €41,138 | €23,766 | -€17,372 | -42.2% |
| Operating profit (loss) | 9901 | €18,195 | €628 | -€17,567 | -96.5% |
| Financial income | 75/76B | €1,369 | €1,710 | +€341 | +24.9% |
| Recurring financial income | 75 | €1,369 | €1,710 | +€341 | +24.9% |
| Financial charges | 65/66B | €67 | €374 | +€307 | +457.2% |
| Recurring financial charges | 65 | €67 | €374 | +€307 | +457.2% |
| Profit (loss) for the period before taxes | 9903 | €19,497 | €1,964 | -€17,533 | -89.9% |
| Income taxes | 67/77 | €818 | €1,228 | +€409 | +50.0% |
| Profit (loss) for the period | 9904 | €18,678 | €736 | -€17,942 | -96.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,678 | €736 | -€17,942 | -96.1% |
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 11 October 2026 via checked.be.