Navi-Gate: 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-Gate
Largest movements
- Receivables within one year -€221,444
down €221,444 (-43.8%), from €506,003 to €284,559
of which Trade receivables: -€210,742
- Deferred charges and accrued income +€143,340
up €143,340 (+1832.2%), from €7,823 to €151,163
- Cash +€96,660
up €96,660 (+62.3%), from €155,151 to €251,811
mainly Receivables within one year (+€221,444) and Other debts (+€133,202)
- Tangible fixed assets -€58,515
down €58,515 (-28.4%), from €206,110 to €147,595
of which Furniture and vehicles: -€47,496
- Receivables after one year -€30,000
down €30,000 (-30.0%), from €100,000 to €70,000
- Short-term financial debts -€268,750
down €268,750 (-68.3%), from €393,750 to €125,000
- Other debts +€133,202
up €133,202 (+30079.1%), from €443 to €133,645
- Trade debts +€95,823
up €95,823 (+81.7%), from €117,262 to €213,085
- Accrued charges and deferred income +€70,908
up €70,908 (+1280.6%), from €5,537 to €76,445
- Profit (loss) carried forward -€48,903
new in 2025: -€48,903
- Gross operating margin -€143,750
down €143,750 (-39.6%), from €363,227 to €219,477
- Staff costs +€46,674
up €46,674 (+35.2%), from €132,737 to €179,411
- Taxes -€40,937
down €40,937 (-97.1%), from €42,163 to €1,226
- Financial charges -€33,809
down €33,809 (-42.1%), from €80,234 to €46,425
- Financial income -€28,734
down €28,734 (-56.6%), from €50,745 to €22,011
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 | €982,418 | €911,458 | -€70,959 | -7.2% |
| Fixed assets | 21/28 | €207,440 | €148,925 | -€58,515 | -28.2% |
| Tangible fixed assets | 22/27 | €206,110 | €147,595 | -€58,515 | -28.4% |
| Plant, machinery and equipment | 23 | €5,246 | €4,475 | -€771 | -14.7% |
| Furniture and vehicles | 24 | €147,954 | €100,458 | -€47,496 | -32.1% |
| Other tangible fixed assets | 26 | €52,910 | €42,661 | -€10,249 | -19.4% |
| Financial fixed assets | 28 | €1,330 | €1,330 | = | 0.0% |
| Current assets | 29/58 | €774,977 | €762,533 | -€12,444 | -1.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €70,000 | -€30,000 | -30.0% |
| Other amounts receivable | 291 | €100,000 | €70,000 | -€30,000 | -30.0% |
| Amounts receivable within one year | 40/41 | €506,003 | €284,559 | -€221,444 | -43.8% |
| Trade receivables | 40 | €437,851 | €227,109 | -€210,742 | -48.1% |
| Other amounts receivable | 41 | €68,152 | €57,450 | -€10,703 | -15.7% |
| Current investments | 50/53 | €6,000 | €5,000 | -€1,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €155,151 | €251,811 | +€96,660 | +62.3% |
| Deferred charges and accrued income | 490/1 | €7,823 | €151,163 | +€143,340 | +1832.2% |
| Total equity and liabilities | 10/49 | €982,418 | €911,458 | -€70,959 | -7.2% |
| Equity | 10/15 | €304,461 | €255,558 | -€48,903 | -16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €285,861 | €285,861 | = | 0.0% |
| Distributable reserves | 133 | €285,861 | €285,861 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€48,903 | -€48,903 | |
| Amounts payable | 17/49 | €677,957 | €655,900 | -€22,057 | -3.3% |
| Amounts payable after more than one year | 17 | €80,065 | €44,644 | -€35,421 | -44.2% |
| Financial debts | 170/4 | €80,065 | €44,644 | -€35,421 | -44.2% |
| Amounts payable within one year | 42/48 | €592,354 | €534,811 | -€57,544 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €43,022 | €38,446 | -€4,576 | -10.6% |
| Financial debts | 43 | €393,750 | €125,000 | -€268,750 | -68.3% |
| Credit institutions | 430/8 | €393,750 | €125,000 | -€268,750 | -68.3% |
| Trade debts | 44 | €117,262 | €213,085 | +€95,823 | +81.7% |
| Suppliers | 440/4 | €117,262 | €213,085 | +€95,823 | +81.7% |
| Taxes, remuneration and social security | 45 | €37,878 | €24,634 | -€13,243 | -35.0% |
| Taxes | 450/3 | €6,339 | €14,598 | +€8,259 | +130.3% |
| Remuneration and social security | 454/9 | €31,539 | €10,036 | -€21,502 | -68.2% |
| Other amounts payable | 47/48 | €443 | €133,645 | +€133,202 | +30079.1% |
| Accrued charges and deferred income | 492/3 | €5,537 | €76,445 | +€70,908 | +1280.6% |
| Remuneration, social security and pensions | 62 | €132,737 | €179,411 | +€46,674 | +35.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,544 | €60,051 | +€5,508 | +10.1% |
| Other operating charges | 640/8 | €19,798 | €3,278 | -€16,520 | -83.4% |
| Gross operating margin | 9900 | €363,227 | €219,477 | -€143,750 | -39.6% |
| Operating profit (loss) | 9901 | €156,149 | -€23,263 | -€179,411 | |
| Financial income | 75/76B | €50,745 | €22,011 | -€28,734 | -56.6% |
| Recurring financial income | 75 | €50,745 | €22,011 | -€28,734 | -56.6% |
| Financial charges | 65/66B | €80,234 | €46,425 | -€33,809 | -42.1% |
| Recurring financial charges | 65 | €80,234 | €46,425 | -€33,809 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | €126,659 | -€47,677 | -€174,336 | |
| Income taxes | 67/77 | €42,163 | €1,226 | -€40,937 | -97.1% |
| Profit (loss) for the period | 9904 | €84,497 | -€48,903 | -€133,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €84,497 | -€48,903 | -€133,400 |
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 3 October 2026 via checked.be.