Naveau: 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.
What changed
Naveau
NACE 66.220, Insurance agents and brokers
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€127,798
2024 · €42,207+€85,592
Equity
€365,711
2024 · €75,770+€289,941
Cash
€289,377
2024 · €312,004-€22,626
Balance sheet total
€3.4m
2024 · €2.3m+€1.2m
Largest movements
Assets
- Tangible fixed assets +€838,800
up €838,800 (+73.1%), from €1.1m to €2.0m
of which Other tangible fixed assets: +€799,570
- Financial fixed assets +€278,075
up €278,075 (+383.9%), from €72,430 to €350,505
- Receivables within one year +€114,113
up €114,113 (+37.4%), from €305,310 to €419,422
of which Trade receivables: +€89,620
- Intangible fixed assets -€38,497
down €38,497 (-10.5%), from €366,687 to €328,191
Equity and liabilities
- Debts after one year +€422,938
up €422,938 (+79.7%), from €530,496 to €953,434
- Other debts +€365,439
up €365,439 (+42.7%), from €855,487 to €1.2m
- Profit (loss) carried forward +€142,974
up €142,974, from -€93,636 to €49,338
- Current portion of long-term debt +€107,402
up €107,402 (+117.0%), from €91,825 to €199,227
- Trade debts -€86,228
down €86,228 (-20.0%), from €431,162 to €344,935
Income statement
- Turnover +€1.1m
up €1.1m (+52.4%), from €2.1m to €3.2m
- Purchases and services +€937,902
up €937,902 (+88.3%), from €1.1m to €2.0m
- Gross operating margin +€579,618
up €579,618 (+43.7%), from €1.3m to €1.9m
- Staff costs +€152,502
up €152,502 (+16.1%), from €946,985 to €1.1m
- Depreciation +€130,836
up €130,836 (+84.9%), from €154,136 to €284,972
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.
Result 2024
€42,207
Gross operating margin
+€579,618
Staff costs
-€152,502
Depreciation
-€130,836
Other operating charges
-€9,887
Financial income
+€8,969
Financial charges
-€124,734
Taxes
-€63,786
Deferred taxes and other
-€21,251
Result 2025
€127,798
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.
From operations
+€614,644
Investment
-€1.4m
Financing
+€726,080
Cash 2024
€312,004
From operations (derived)
+€614,644
Net result for the year
+€127,798
Depreciation
+€284,972
Receivables within one year
-€114,113
Deferred charges and accrued income
-€23,763
Provisions
+€19,404
Trade debts
-€86,228
Tax, wage and social debts
-€11,628
Other debts
+€365,439
Accrued charges and deferred income
+€52,761
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€726,080
Debts after one year
+€422,938
Current portion of long-term debt
+€107,402
Short-term financial debts
+€33,597
Contributions, distributions and other
+€162,143
Cash 2025
€289,377
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,250,456 | €3,444,083 | +€1.2m | +53.0% |
| Fixed assets | 21/28 | €1,585,882 | €2,664,261 | +€1.1m | +68.0% |
| Intangible fixed assets | 21 | €366,687 | €328,191 | -€38,497 | -10.5% |
| Tangible fixed assets | 22/27 | €1,146,765 | €1,985,565 | +€838,800 | +73.1% |
| Land and buildings | 22 | €243,407 | €231,819 | -€11,589 | -4.8% |
| Plant, machinery and equipment | 23 | €432,554 | €378,201 | -€54,353 | -12.6% |
| Furniture and vehicles | 24 | €70,317 | €189,640 | +€119,323 | +169.7% |
| Leasing and similar rights | 25 | €26,309 | €12,157 | -€14,152 | -53.8% |
| Other tangible fixed assets | 26 | €374,178 | €1,173,748 | +€799,570 | +213.7% |
| Financial fixed assets | 28 | €72,430 | €350,505 | +€278,075 | +383.9% |
| Current assets | 29/58 | €664,573 | €779,823 | +€115,249 | +17.3% |
| Amounts receivable within one year | 40/41 | €305,310 | €419,422 | +€114,113 | +37.4% |
| Trade receivables | 40 | €267,951 | €357,571 | +€89,620 | +33.4% |
| Other amounts receivable | 41 | €37,359 | €61,852 | +€24,493 | +65.6% |
| Cash at bank and in hand | 54/58 | €312,004 | €289,377 | -€22,626 | -7.3% |
| Deferred charges and accrued income | 490/1 | €47,260 | €71,023 | +€23,763 | +50.3% |
| Total equity and liabilities | 10/49 | €2,250,456 | €3,444,083 | +€1.2m | +53.0% |
| Equity | 10/15 | €75,770 | €365,711 | +€289,941 | +382.7% |
| Contributions | 10/11 | €130,800 | €211,400 | +€80,600 | +61.6% |
| Capital | 10 | €130,800 | €211,400 | +€80,600 | +61.6% |
| Issued capital | 100 | €130,800 | €211,400 | +€80,600 | +61.6% |
| Reserves | 13 | €38,606 | €104,974 | +€66,367 | +171.9% |
| Non-distributable reserves | 130/1 | €13,077 | €19,277 | +€6,200 | +47.4% |
| Legal reserve | 130 | €13,077 | €19,277 | +€6,200 | +47.4% |
| Tax-exempt reserves | 132 | €25,529 | €85,696 | +€60,167 | +235.7% |
| Profit (loss) carried forward | 14 | -€93,636 | €49,338 | +€142,974 | |
| Provisions and deferred taxes | 16 | €13,035 | €32,440 | +€19,404 | +148.9% |
| Deferred taxes | 168 | €13,035 | €32,440 | +€19,404 | +148.9% |
| Amounts payable | 17/49 | €2,161,650 | €3,045,932 | +€884,282 | +40.9% |
| Amounts payable after more than one year | 17 | €530,496 | €953,434 | +€422,938 | +79.7% |
| Financial debts | 170/4 | €530,496 | €953,434 | +€422,938 | +79.7% |
| Amounts payable within one year | 42/48 | €1,611,319 | €2,019,901 | +€408,582 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €91,825 | €199,227 | +€107,402 | +117.0% |
| Financial debts | 43 | €87,616 | €121,213 | +€33,597 | +38.3% |
| Credit institutions | 430/8 | €87,616 | €121,213 | +€33,597 | +38.3% |
| Trade debts | 44 | €431,162 | €344,935 | -€86,228 | -20.0% |
| Suppliers | 440/4 | €431,162 | €344,935 | -€86,228 | -20.0% |
| Taxes, remuneration and social security | 45 | €145,229 | €133,601 | -€11,628 | -8.0% |
| Taxes | 450/3 | €14,863 | €19,502 | +€4,639 | +31.2% |
| Remuneration and social security | 454/9 | €130,366 | €114,099 | -€16,267 | -12.5% |
| Other amounts payable | 47/48 | €855,487 | €1,220,926 | +€365,439 | +42.7% |
| Accrued charges and deferred income | 492/3 | €19,836 | €72,597 | +€52,761 | +266.0% |
| Turnover | 70 | €2,125,733 | €3,238,625 | +€1.1m | +52.4% |
| Non-recurring operating income | 76A | €1,427 | €0 | -€1,427 | -100.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,061,978 | €1,999,880 | +€937,902 | +88.3% |
| Remuneration, social security and pensions | 62 | €946,985 | €1,099,487 | +€152,502 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €154,136 | €284,972 | +€130,836 | +84.9% |
| Other operating charges | 640/8 | €43,188 | €53,075 | +€9,887 | +22.9% |
| Gross operating margin | 9900 | €1,327,408 | €1,907,026 | +€579,618 | +43.7% |
| Operating profit (loss) | 9901 | €183,099 | €469,492 | +€286,393 | +156.4% |
| Financial income | 75/76B | €3,385 | €12,354 | +€8,969 | +265.0% |
| Recurring financial income | 75 | €3,385 | €12,354 | +€8,969 | +265.0% |
| Financial charges | 65/66B | €145,186 | €269,920 | +€124,734 | +85.9% |
| Recurring financial charges | 65 | €145,186 | €269,920 | +€124,734 | +85.9% |
| Profit (loss) for the period before taxes | 9903 | €41,297 | €211,926 | +€170,628 | +413.2% |
| Transfer from deferred taxes | 780 | €1,846 | €1,846 | -€1 | 0.0% |
| Transfer to deferred taxes | 680 | - | €21,250 | +€21,250 | |
| Income taxes | 67/77 | €937 | €64,723 | +€63,786 | +6806.9% |
| Profit (loss) for the period | 9904 | €42,207 | €127,798 | +€85,592 | +202.8% |
| Transfer from tax-exempt reserves | 789 | €3,584 | €3,583 | -€1 | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €63,750 | +€63,750 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,791 | €67,631 | +€21,840 | +47.7% |
Source: filed annual accounts (NBB), fiscal 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.