NATOVI: 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.
NATOVI
Largest movements
- Tangible fixed assets -€5,747
down €5,747 (-38.4%), from €14,966 to €9,219
of which Furniture and vehicles: -€3,543
- Intangible fixed assets -€5,000
down €5,000 (-14.3%), from €34,986 to €29,986
- Cash +€3,115
up €3,115 (+5.5%), from €56,377 to €59,492
mainly Other debts (+€65,503) and Net result for the year (+€23,062)
- Receivables within one year +€2,937
up €2,937 (+75.0%), from €3,914 to €6,852
of which Other amounts receivable: +€2,758
- Other debts +€65,503
up €65,503 (+113%), from €58,085 to €123,587
- Reserves -€45,979
down €45,979 (-81.0%), from €56,756 to €10,778
- Debts after one year -€15,703
down €15,703 (-24.0%), from €65,424 to €49,721
- Trade debts -€6,337
down €6,337 (-60.7%), from €10,446 to €4,109
- Tax, wage and social debts -€4,331
down €4,331 (-84.8%), from €5,109 to €779
- Gross operating margin +€14,815
up €14,815 (+33.6%), from €44,050 to €58,865
- Taxes +€1,780
up €1,780 (+44.7%), from €3,985 to €5,765
- Staff costs +€1,372
up €1,372 (+24.5%), from €5,599 to €6,970
- Financial charges -€707
down €707 (-10.3%), from €6,891 to €6,184
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.
Derived cash bridge
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 | €240,115 | €233,685 | -€6,431 | -2.7% |
| Fixed assets | 21/28 | €49,952 | €39,206 | -€10,747 | -21.5% |
| Intangible fixed assets | 21 | €34,986 | €29,986 | -€5,000 | -14.3% |
| Tangible fixed assets | 22/27 | €14,966 | €9,219 | -€5,747 | -38.4% |
| Plant, machinery and equipment | 23 | €10,834 | €8,630 | -€2,204 | -20.3% |
| Furniture and vehicles | 24 | €4,132 | €589 | -€3,543 | -85.7% |
| Current assets | 29/58 | €190,163 | €194,479 | +€4,316 | +2.3% |
| Stocks and contracts in progress | 3 | €127,927 | €128,111 | +€184 | +0.1% |
| Stocks | 30/36 | €127,927 | €128,111 | +€184 | +0.1% |
| Amounts receivable within one year | 40/41 | €3,914 | €6,852 | +€2,937 | +75.0% |
| Trade receivables | 40 | €0 | €179 | +€179 | |
| Other amounts receivable | 41 | €3,914 | €6,672 | +€2,758 | +70.5% |
| Cash at bank and in hand | 54/58 | €56,377 | €59,492 | +€3,115 | +5.5% |
| Deferred charges and accrued income | 490/1 | €1,945 | €24 | -€1,921 | -98.8% |
| Total equity and liabilities | 10/49 | €240,115 | €233,685 | -€6,431 | -2.7% |
| Equity | 10/15 | €81,756 | €35,778 | -€45,979 | -56.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €56,756 | €10,778 | -€45,979 | -81.0% |
| Distributable reserves | 133 | €56,756 | €10,778 | -€45,979 | -81.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €158,359 | €197,907 | +€39,548 | +25.0% |
| Amounts payable after more than one year | 17 | €65,424 | €49,721 | -€15,703 | -24.0% |
| Financial debts | 170/4 | €65,424 | €49,721 | -€15,703 | -24.0% |
| Amounts payable within one year | 42/48 | €89,140 | €144,178 | +€55,038 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €15,500 | €15,703 | +€203 | +1.3% |
| Trade debts | 44 | €10,446 | €4,109 | -€6,337 | -60.7% |
| Suppliers | 440/4 | €10,446 | €4,109 | -€6,337 | -60.7% |
| Taxes, remuneration and social security | 45 | €5,109 | €779 | -€4,331 | -84.8% |
| Taxes | 450/3 | €5,109 | €779 | -€4,331 | -84.8% |
| Other amounts payable | 47/48 | €58,085 | €123,587 | +€65,503 | +113% |
| Accrued charges and deferred income | 492/3 | €3,795 | €4,008 | +€213 | +5.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €5,599 | €6,970 | +€1,372 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,739 | €12,097 | +€358 | +3.0% |
| Other operating charges | 640/8 | €4,778 | €4,900 | +€122 | +2.6% |
| Non-recurring operating charges | 66A | €434 | €0 | -€434 | -100% |
| Gross operating margin | 9900 | €44,050 | €58,865 | +€14,815 | +33.6% |
| Operating profit (loss) | 9901 | €21,500 | €34,898 | +€13,398 | +62.3% |
| Financial income | 75/76B | €154 | €114 | -€40 | -26.2% |
| Recurring financial income | 75 | €154 | €114 | -€40 | -26.2% |
| Financial charges | 65/66B | €6,891 | €6,184 | -€707 | -10.3% |
| Recurring financial charges | 65 | €6,891 | €6,184 | -€707 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €14,763 | €28,827 | +€14,065 | +95.3% |
| Income taxes | 67/77 | €3,985 | €5,765 | +€1,780 | +44.7% |
| Profit (loss) for the period | 9904 | €10,778 | €23,062 | +€12,284 | +114% |
| Profit (loss) for the period to be appropriated | 9905 | €10,778 | €23,062 | +€12,284 | +114% |
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 28 October 2026 via checked.be.