NAVI PROJECT: 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 PROJECT
Largest movements
- Receivables within one year +€8,992
up €8,992 (+15.6%), from €57,687 to €66,680
of which Other amounts receivable: +€7,141
- Cash +€3,550
up €3,550 (+68.1%), from €5,214 to €8,764
mainly Net result for the year (+€27,270) and Other debts (+€3,529)
- Profit (loss) carried forward +€3,740
up €3,740 (+8.3%), from €45,082 to €48,822
- Other debts +€3,529
new in 2025: €3,529
- Short-term financial debts +€3,271
up €3,271 (+2288.2%), from €143 to €3,414
- Trade debts +€2,256
up €2,256 (+75.5%), from €2,987 to €5,243
- Gross operating margin -€14,339
down €14,339 (-28.9%), from €49,643 to €35,304
- Taxes -€2,043
down €2,043 (-21.1%), from €9,689 to €7,646
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 | €62,901 | €75,443 | +€12,542 | +19.9% |
| Current assets | 29/58 | €62,901 | €75,443 | +€12,542 | +19.9% |
| Amounts receivable within one year | 40/41 | €57,687 | €66,680 | +€8,992 | +15.6% |
| Trade receivables | 40 | €4,878 | €6,729 | +€1,851 | +37.9% |
| Other amounts receivable | 41 | €52,809 | €59,950 | +€7,141 | +13.5% |
| Cash at bank and in hand | 54/58 | €5,214 | €8,764 | +€3,550 | +68.1% |
| Total equity and liabilities | 10/49 | €62,901 | €75,443 | +€12,542 | +19.9% |
| Equity | 10/15 | €50,082 | €53,822 | +€3,740 | +7.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,082 | €48,822 | +€3,740 | +8.3% |
| Amounts payable | 17/49 | €12,819 | €21,621 | +€8,802 | +68.7% |
| Amounts payable within one year | 42/48 | €12,819 | €21,621 | +€8,802 | +68.7% |
| Financial debts | 43 | €143 | €3,414 | +€3,271 | +2288.2% |
| Credit institutions | 430/8 | €143 | €3,414 | +€3,271 | +2288.2% |
| Trade debts | 44 | €2,987 | €5,243 | +€2,256 | +75.5% |
| Suppliers | 440/4 | €2,987 | €5,243 | +€2,256 | +75.5% |
| Taxes, remuneration and social security | 45 | €9,689 | €9,435 | -€255 | -2.6% |
| Taxes | 450/3 | €9,689 | €9,435 | -€255 | -2.6% |
| Other amounts payable | 47/48 | - | €3,529 | +€3,529 | |
| Other operating charges | 640/8 | €389 | - | -€389 | |
| Gross operating margin | 9900 | €49,643 | €35,304 | -€14,339 | -28.9% |
| Operating profit (loss) | 9901 | €49,254 | €35,304 | -€13,950 | -28.3% |
| Financial income | 75/76B | €3 | €21 | +€18 | +549.7% |
| Recurring financial income | 75 | €3 | €21 | +€18 | +549.7% |
| Financial charges | 65/66B | €891 | €409 | -€481 | -54.1% |
| Recurring financial charges | 65 | €891 | €409 | -€481 | -54.1% |
| Profit (loss) for the period before taxes | 9903 | €48,366 | €34,916 | -€13,451 | -27.8% |
| Income taxes | 67/77 | €9,689 | €7,646 | -€2,043 | -21.1% |
| Profit (loss) for the period | 9904 | €38,677 | €27,270 | -€11,407 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €38,677 | €27,270 | -€11,407 | -29.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.