NAVI: 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.
NAVI
Largest movements
- Tangible fixed assets -€11,780
down €11,780 (-5.2%), from €226,651 to €214,871
of which Land and buildings: -€10,682
- Profit (loss) carried forward -€32,327
down €32,327 (-40.5%), from -€79,875 to -€112,203
- Other debts +€21,363
up €21,363 (+261%), from €8,200 to €29,563
- Gross operating margin -€1,665
down €1,665 (-12.2%), from -€13,650 to -€15,315
- Financial charges -€1,563
down €1,563 (-100%), from €1,563 to €0
- Other operating charges +€956
up €956 (+22.4%), from €4,277 to €5,233
- Depreciation -€824
down €824 (-6.5%), from €12,604 to €11,780
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 | €227,790 | €216,958 | -€10,832 | -4.8% |
| Fixed assets | 21/28 | €226,651 | €214,871 | -€11,780 | -5.2% |
| Tangible fixed assets | 22/27 | €226,651 | €214,871 | -€11,780 | -5.2% |
| Land and buildings | 22 | €223,215 | €212,533 | -€10,682 | -4.8% |
| Plant, machinery and equipment | 23 | €3,436 | €2,338 | -€1,098 | -32.0% |
| Current assets | 29/58 | €1,139 | €2,087 | +€948 | +83.3% |
| Cash at bank and in hand | 54/58 | €837 | €1,928 | +€1,092 | +130% |
| Deferred charges and accrued income | 490/1 | €302 | €159 | -€143 | -47.4% |
| Total equity and liabilities | 10/49 | €227,790 | €216,958 | -€10,832 | -4.8% |
| Equity | 10/15 | €219,156 | €186,828 | -€32,327 | -14.8% |
| Contributions | 10/11 | €299,031 | €299,031 | = | 0.0% |
| Capital | 10 | €299,031 | €299,031 | = | 0.0% |
| Issued capital | 100 | €299,031 | €299,031 | = | 0.0% |
| Uncalled capital | 101 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€79,875 | -€112,203 | -€32,327 | -40.5% |
| Amounts payable | 17/49 | €8,634 | €30,130 | +€21,495 | +249% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €8,634 | €30,130 | +€21,495 | +249% |
| Trade debts | 44 | €434 | €566 | +€132 | +30.4% |
| Suppliers | 440/4 | €434 | €566 | +€132 | +30.4% |
| Other amounts payable | 47/48 | €8,200 | €29,563 | +€21,363 | +261% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,604 | €11,780 | -€824 | -6.5% |
| Other operating charges | 640/8 | €4,277 | €5,233 | +€956 | +22.4% |
| Gross operating margin | 9900 | -€13,650 | -€15,315 | -€1,665 | -12.2% |
| Operating profit (loss) | 9901 | -€30,531 | -€32,328 | -€1,798 | -5.9% |
| Financial income | 75/76B | €1 | €2 | +€1 | +82.0% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +82.0% |
| Financial charges | 65/66B | €1,563 | €0 | -€1,563 | -100% |
| Recurring financial charges | 65 | €1,563 | €0 | -€1,563 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€32,093 | -€32,327 | -€234 | -0.7% |
| Income taxes | 67/77 | €0 | €0 | +€0 | +77.8% |
| Profit (loss) for the period | 9904 | -€32,093 | -€32,327 | -€234 | -0.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,093 | -€32,327 | -€234 | -0.7% |
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 17 October 2026 via checked.be.