NARVI: 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.
NARVI
Largest movements
- Receivables within one year -€57,429
down €57,429 (-74.2%), from €77,426 to €19,997
of which Other amounts receivable: -€57,429
- Cash +€16,592
up €16,592 (+21.3%), from €77,910 to €94,502
mainly Net result for the year (+€85,786) and Receivables within one year (+€57,429)
- Reserves -€43,998
down €43,998 (-33.9%), from €129,784 to €85,786
- Tax, wage and social debts +€5,201
up €5,201 (+25.2%), from €20,622 to €25,822
of which Remuneration and social security: +€3,950
- Financial income -€2,091
down €2,091 (-42.1%), from €4,964 to €2,873
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 | €158,003 | €117,872 | -€40,131 | -25.4% |
| Fixed assets | 21/28 | €487 | €1,055 | +€568 | +116.6% |
| Tangible fixed assets | 22/27 | €487 | €1,055 | +€568 | +116.6% |
| Furniture and vehicles | 24 | €487 | €1,055 | +€568 | +116.6% |
| Current assets | 29/58 | €157,516 | €116,817 | -€40,699 | -25.8% |
| Amounts receivable within one year | 40/41 | €77,426 | €19,997 | -€57,429 | -74.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €77,426 | €19,997 | -€57,429 | -74.2% |
| Cash at bank and in hand | 54/58 | €77,910 | €94,502 | +€16,592 | +21.3% |
| Deferred charges and accrued income | 490/1 | €2,179 | €2,318 | +€138 | +6.3% |
| Total equity and liabilities | 10/49 | €158,003 | €117,872 | -€40,131 | -25.4% |
| Equity | 10/15 | €135,784 | €91,786 | -€43,998 | -32.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €129,784 | €85,786 | -€43,998 | -33.9% |
| Distributable reserves | 133 | €129,784 | €85,786 | -€43,998 | -33.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,219 | €26,087 | +€3,867 | +17.4% |
| Amounts payable within one year | 42/48 | €21,137 | €26,087 | +€4,949 | +23.4% |
| Trade debts | 44 | €516 | €264 | -€252 | -48.8% |
| Suppliers | 440/4 | €516 | €264 | -€252 | -48.8% |
| Taxes, remuneration and social security | 45 | €20,622 | €25,822 | +€5,201 | +25.2% |
| Taxes | 450/3 | €20,622 | €21,872 | +€1,251 | +6.1% |
| Remuneration and social security | 454/9 | - | €3,950 | +€3,950 | |
| Accrued charges and deferred income | 492/3 | €1,082 | €0 | -€1,082 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €409 | €625 | +€217 | +53.1% |
| Other operating charges | 640/8 | €787 | €803 | +€16 | +2.1% |
| Gross operating margin | 9900 | €109,114 | €109,354 | +€241 | +0.2% |
| Operating profit (loss) | 9901 | €107,918 | €107,926 | +€8 | 0.0% |
| Financial income | 75/76B | €4,964 | €2,873 | -€2,091 | -42.1% |
| Recurring financial income | 75 | €4,964 | €2,873 | -€2,091 | -42.1% |
| Financial charges | 65/66B | €2,377 | €1,961 | -€416 | -17.5% |
| Recurring financial charges | 65 | €2,377 | €1,961 | -€416 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €110,505 | €108,838 | -€1,667 | -1.5% |
| Income taxes | 67/77 | €23,559 | €23,053 | -€507 | -2.2% |
| Profit (loss) for the period | 9904 | €86,946 | €85,786 | -€1,161 | -1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €86,946 | €85,786 | -€1,161 | -1.3% |
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 9 October 2026 via checked.be.