NaVi: 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.
NaVi
Largest movements
- Receivables within one year +€34,428
up €34,428 (+47.9%), from €71,892 to €106,320
- Tangible fixed assets -€9,916
down €9,916 (-31.0%), from €31,996 to €22,079
- Cash -€7,150
down €7,150 (-60.8%), from €11,763 to €4,613
mainly Contributions, distributions and other (-€120,253) and Receivables within one year (-€34,428)
- Other debts +€94,025
up €94,025 (+888.8%), from €10,579 to €104,604
- Reserves -€68,729
down €68,729 (-90.2%), from €76,229 to €7,500
- Tax, wage and social debts +€8,784
up €8,784 (+152.8%), from €5,749 to €14,534
of which Taxes: +€9,878
- Current portion of long-term debt -€6,823
down €6,823 (-56.8%), from €12,003 to €5,180
- Debts after one year -€5,180
down €5,180 (-100.0%), from €5,180 to €0
- Gross operating margin +€30,312
up €30,312 (+62.3%), from €48,643 to €78,955
- Taxes +€5,350
up €5,350 (+53.3%), from €10,039 to €15,389
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 | €115,650 | €133,728 | +€18,078 | +15.6% |
| Fixed assets | 21/28 | €31,996 | €22,079 | -€9,916 | -31.0% |
| Tangible fixed assets | 22/27 | €31,996 | €22,079 | -€9,916 | -31.0% |
| Furniture and vehicles | 24 | €31,996 | €22,079 | -€9,916 | -31.0% |
| Current assets | 29/58 | €83,655 | €111,649 | +€27,994 | +33.5% |
| Amounts receivable within one year | 40/41 | €71,892 | €106,320 | +€34,428 | +47.9% |
| Trade receivables | 40 | €71,892 | €106,320 | +€34,428 | +47.9% |
| Cash at bank and in hand | 54/58 | €11,763 | €4,613 | -€7,150 | -60.8% |
| Deferred charges and accrued income | 490/1 | - | €715 | +€715 | |
| Total equity and liabilities | 10/49 | €115,650 | €133,728 | +€18,078 | +15.6% |
| Equity | 10/15 | €77,185 | €8,456 | -€68,729 | -89.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €76,229 | €7,500 | -€68,729 | -90.2% |
| Distributable reserves | 133 | €76,229 | €7,500 | -€68,729 | -90.2% |
| Profit (loss) carried forward | 14 | €456 | €456 | = | 0.0% |
| Amounts payable | 17/49 | €38,466 | €125,272 | +€86,806 | +225.7% |
| Amounts payable after more than one year | 17 | €5,180 | €0 | -€5,180 | -100.0% |
| Financial debts | 170/4 | €5,180 | €0 | -€5,180 | -100.0% |
| Amounts payable within one year | 42/48 | €33,286 | €125,272 | +€91,987 | +276.4% |
| Current portion of amounts payable after more than one year | 42 | €12,003 | €5,180 | -€6,823 | -56.8% |
| Trade debts | 44 | €4,954 | €954 | -€4,000 | -80.7% |
| Suppliers | 440/4 | €4,954 | €954 | -€4,000 | -80.7% |
| Taxes, remuneration and social security | 45 | €5,749 | €14,534 | +€8,784 | +152.8% |
| Taxes | 450/3 | €2,993 | €12,871 | +€9,878 | +330.1% |
| Remuneration and social security | 454/9 | €2,756 | €1,663 | -€1,093 | -39.7% |
| Other amounts payable | 47/48 | €10,579 | €104,604 | +€94,025 | +888.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,915 | €9,916 | +€2 | 0.0% |
| Other operating charges | 640/8 | €857 | €1,027 | +€170 | +19.9% |
| Non-recurring operating charges | 66A | - | €312 | +€312 | |
| Gross operating margin | 9900 | €48,643 | €78,955 | +€30,312 | +62.3% |
| Operating profit (loss) | 9901 | €37,871 | €67,699 | +€29,828 | +78.8% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100.0% |
| Non-recurring financial income | 76B | €1 | €0 | -€1 | -100.0% |
| Financial charges | 65/66B | €1,351 | €785 | -€566 | -41.9% |
| Recurring financial charges | 65 | €1,445 | €785 | -€660 | -45.7% |
| Non-recurring financial charges | 66B | -€94 | - | +€94 | |
| Profit (loss) for the period before taxes | 9903 | €36,521 | €66,913 | +€30,393 | +83.2% |
| Income taxes | 67/77 | €10,039 | €15,389 | +€5,350 | +53.3% |
| Profit (loss) for the period | 9904 | €26,481 | €51,524 | +€25,043 | +94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,481 | €51,524 | +€25,043 | +94.6% |
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 7 October 2026 via checked.be.