NarvalTech: 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.
NarvalTech
Largest movements
- Current investments +€45,000
up €45,000, from €0 to €45,000
- Receivables within one year -€15,002
down €15,002 (-82.3%), from €18,220 to €3,218
of which Trade receivables: -€12,702
- Cash +€4,412
up €4,412 (+4.8%), from €91,510 to €95,921
mainly Net result for the year (+€97,253) and Other debts (+€30,029)
- Tangible fixed assets -€2,195
down €2,195 (-100.0%), from €2,195 to €0
- Other debts +€30,029
up €30,029 (+44.5%), from €67,472 to €97,501
- Tax, wage and social debts +€1,934
up €1,934 (+27.9%), from €6,943 to €8,877
- Gross operating margin +€41,476
up €41,476 (+44.6%), from €92,908 to €134,384
- Taxes +€9,665
up €9,665 (+40.9%), from €23,635 to €33,300
- Financial income -€4,105
no longer reported in 2026 (was €4,105)
- Depreciation -€2,469
down €2,469 (-52.9%), from €4,664 to €2,195
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €111,924 | €144,139 | +€32,215 | +28.8% |
| Fixed assets | 21/28 | €2,195 | €0 | -€2,195 | -100.0% |
| Tangible fixed assets | 22/27 | €2,195 | €0 | -€2,195 | -100.0% |
| Furniture and vehicles | 24 | €2,195 | €0 | -€2,195 | -100.0% |
| Current assets | 29/58 | €109,729 | €144,139 | +€34,410 | +31.4% |
| Amounts receivable within one year | 40/41 | €18,220 | €3,218 | -€15,002 | -82.3% |
| Trade receivables | 40 | €13,620 | €918 | -€12,702 | -93.3% |
| Other amounts receivable | 41 | €4,600 | €2,300 | -€2,300 | -50.0% |
| Current investments | 50/53 | €0 | €45,000 | +€45,000 | |
| Cash at bank and in hand | 54/58 | €91,510 | €95,921 | +€4,412 | +4.8% |
| Total equity and liabilities | 10/49 | €111,924 | €144,139 | +€32,215 | +28.8% |
| Equity | 10/15 | €37,509 | €37,762 | +€253 | +0.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,009 | €30,262 | +€253 | +0.8% |
| Amounts payable | 17/49 | €74,415 | €106,378 | +€31,963 | +43.0% |
| Amounts payable within one year | 42/48 | €74,415 | €106,378 | +€31,963 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €6,943 | €8,877 | +€1,934 | +27.9% |
| Taxes | 450/3 | €6,943 | €8,877 | +€1,934 | +27.9% |
| Other amounts payable | 47/48 | €67,472 | €97,501 | +€30,029 | +44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,664 | €2,195 | -€2,469 | -52.9% |
| Other operating charges | 640/8 | €1,300 | €1,484 | +€184 | +14.1% |
| Gross operating margin | 9900 | €92,908 | €134,384 | +€41,476 | +44.6% |
| Operating profit (loss) | 9901 | €86,944 | €130,705 | +€43,761 | +50.3% |
| Financial income | 75/76B | €4,105 | - | -€4,105 | |
| Recurring financial income | 75 | €4,105 | - | -€4,105 | |
| Financial charges | 65/66B | €143 | €152 | +€9 | +6.5% |
| Recurring financial charges | 65 | €143 | €152 | +€9 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €90,906 | €130,553 | +€39,646 | +43.6% |
| Income taxes | 67/77 | €23,635 | €33,300 | +€9,665 | +40.9% |
| Profit (loss) for the period | 9904 | €67,271 | €97,253 | +€29,982 | +44.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,271 | €97,253 | +€29,982 | +44.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.