NAVE: 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.
NAVE
Largest movements
- Cash +€7,910
up €7,910 (+5.5%), from €144,985 to €152,895
mainly Net result for the year (+€18,318) and Depreciation (+€3,219)
- Tangible fixed assets +€7,356
up €7,356 (+14.4%), from €51,224 to €58,580
- Receivables within one year +€2,839
new in 2025: €2,839
- Reserves +€18,318
up €18,318 (+10.5%), from €173,708 to €192,027
- Other debts -€2,615
no longer reported in 2025 (was €2,615)
- Other operating charges -€3,420
down €3,420 (-45.4%), from €7,533 to €4,113
- Gross operating margin +€3,132
up €3,132 (+10.1%), from €31,021 to €34,153
- Taxes +€2,001
up €2,001 (+30.8%), from €6,502 to €8,503
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 | €197,406 | €214,743 | +€17,337 | +8.8% |
| Fixed assets | 21/28 | €51,224 | €58,580 | +€7,356 | +14.4% |
| Tangible fixed assets | 22/27 | €51,224 | €58,580 | +€7,356 | +14.4% |
| Land and buildings | 22 | €51,224 | €58,580 | +€7,356 | +14.4% |
| Current assets | 29/58 | €146,182 | €156,162 | +€9,980 | +6.8% |
| Amounts receivable within one year | 40/41 | - | €2,839 | +€2,839 | |
| Other amounts receivable | 41 | - | €2,839 | +€2,839 | |
| Cash at bank and in hand | 54/58 | €144,985 | €152,895 | +€7,910 | +5.5% |
| Deferred charges and accrued income | 490/1 | €1,198 | €428 | -€770 | -64.3% |
| Total equity and liabilities | 10/49 | €197,406 | €214,743 | +€17,337 | +8.8% |
| Equity | 10/15 | €192,258 | €210,577 | +€18,318 | +9.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €173,708 | €192,027 | +€18,318 | +10.5% |
| Distributable reserves | 133 | €173,708 | €192,027 | +€18,318 | +10.5% |
| Amounts payable | 17/49 | €5,148 | €4,166 | -€982 | -19.1% |
| Amounts payable within one year | 42/48 | €5,148 | €3,503 | -€1,645 | -32.0% |
| Taxes, remuneration and social security | 45 | €2,533 | €3,503 | +€970 | +38.3% |
| Taxes | 450/3 | €2,533 | €3,503 | +€970 | +38.3% |
| Other amounts payable | 47/48 | €2,615 | - | -€2,615 | |
| Accrued charges and deferred income | 492/3 | - | €663 | +€663 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,381 | €3,219 | -€162 | -4.8% |
| Other operating charges | 640/8 | €7,533 | €4,113 | -€3,420 | -45.4% |
| Gross operating margin | 9900 | €31,021 | €34,153 | +€3,132 | +10.1% |
| Operating profit (loss) | 9901 | €20,107 | €26,821 | +€6,714 | +33.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €0 | - | -€0 | |
| Recurring financial charges | 65 | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €20,107 | €26,821 | +€6,714 | +33.4% |
| Income taxes | 67/77 | €6,502 | €8,503 | +€2,001 | +30.8% |
| Profit (loss) for the period | 9904 | €13,605 | €18,318 | +€4,713 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,605 | €18,318 | +€4,713 | +34.6% |
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 15 October 2026 via checked.be.