NAVI Projects: 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 Projects
Largest movements
- Tangible fixed assets +€276,170
up €276,170 (+87.3%), from €316,394 to €592,564
of which Land and buildings: +€276,641
- Receivables within one year -€56,982
down €56,982 (-27.7%), from €205,750 to €148,769
of which Other amounts receivable: -€59,881
- Debts after one year +€258,981
up €258,981 (+112.6%), from €229,904 to €488,885
- Trade debts -€88,179
down €88,179 (-74.4%), from €118,518 to €30,339
- Other debts +€74,658
new in 2024: €74,658
- Tax, wage and social debts -€42,952
down €42,952 (-54.9%), from €78,189 to €35,237
of which Taxes: -€39,452
- Profit (loss) carried forward +€16,613
up €16,613 (+81.8%), from €20,309 to €36,922
- Depreciation +€55,108
up €55,108 (+399.9%), from €13,782 to €68,889
- Taxes -€52,758
down €52,758, from €36,836 to -€15,922
- Other operating charges -€12,483
down €12,483 (-73.9%), from €16,884 to €4,400
- Financial charges +€7,981
up €7,981 (+109.6%), from €7,279 to €15,260
- Gross operating margin -€4,140
down €4,140 (-4.4%), from €93,666 to €89,526
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €579,550 | €798,990 | +€219,440 | +37.9% |
| Fixed assets | 21/28 | €316,470 | €592,641 | +€276,170 | +87.3% |
| Tangible fixed assets | 22/27 | €316,394 | €592,564 | +€276,170 | +87.3% |
| Land and buildings | 22 | €298,164 | €574,805 | +€276,641 | +92.8% |
| Plant, machinery and equipment | 23 | - | €1,550 | +€1,550 | |
| Furniture and vehicles | 24 | €18,229 | €16,209 | -€2,021 | -11.1% |
| Financial fixed assets | 28 | €77 | €77 | = | 0.0% |
| Current assets | 29/58 | €263,079 | €206,349 | -€56,730 | -21.6% |
| Amounts receivable after more than one year | 29 | €50,690 | €46,537 | -€4,152 | -8.2% |
| Trade receivables | 290 | €50,690 | €46,537 | -€4,152 | -8.2% |
| Amounts receivable within one year | 40/41 | €205,750 | €148,769 | -€56,982 | -27.7% |
| Trade receivables | 40 | €145,869 | €148,769 | +€2,899 | +2.0% |
| Other amounts receivable | 41 | €59,881 | €0 | -€59,881 | -100.0% |
| Cash at bank and in hand | 54/58 | €0 | €7,946 | +€7,946 | |
| Deferred charges and accrued income | 490/1 | €6,639 | €3,097 | -€3,542 | -53.3% |
| Total equity and liabilities | 10/49 | €579,550 | €798,990 | +€219,440 | +37.9% |
| Equity | 10/15 | €119,309 | €135,922 | +€16,613 | +13.9% |
| Contributions | 10/11 | €18,000 | €18,000 | = | 0.0% |
| Reserves | 13 | €81,000 | €81,000 | = | 0.0% |
| Distributable reserves | 133 | €81,000 | €81,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,309 | €36,922 | +€16,613 | +81.8% |
| Amounts payable | 17/49 | €460,241 | €663,068 | +€202,828 | +44.1% |
| Amounts payable after more than one year | 17 | €229,904 | €488,885 | +€258,981 | +112.6% |
| Financial debts | 170/4 | €229,904 | €488,885 | +€258,981 | +112.6% |
| Amounts payable within one year | 42/48 | €230,337 | €174,183 | -€56,153 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €30,822 | €33,950 | +€3,128 | +10.1% |
| Financial debts | 43 | €2,808 | €0 | -€2,808 | -100.0% |
| Credit institutions | 430/8 | €2,808 | €0 | -€2,808 | -100.0% |
| Trade debts | 44 | €118,518 | €30,339 | -€88,179 | -74.4% |
| Suppliers | 440/4 | €118,518 | €30,339 | -€88,179 | -74.4% |
| Taxes, remuneration and social security | 45 | €78,189 | €35,237 | -€42,952 | -54.9% |
| Taxes | 450/3 | €74,689 | €35,237 | -€39,452 | -52.8% |
| Remuneration and social security | 454/9 | €3,500 | €0 | -€3,500 | -100.0% |
| Other amounts payable | 47/48 | - | €74,658 | +€74,658 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €286 | +€286 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,782 | €68,889 | +€55,108 | +399.9% |
| Other operating charges | 640/8 | €16,884 | €4,400 | -€12,483 | -73.9% |
| Gross operating margin | 9900 | €93,666 | €89,526 | -€4,140 | -4.4% |
| Operating profit (loss) | 9901 | €63,001 | €15,950 | -€47,050 | -74.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €7,279 | €15,260 | +€7,981 | +109.6% |
| Recurring financial charges | 65 | €7,279 | €15,260 | +€7,981 | +109.6% |
| Profit (loss) for the period before taxes | 9903 | €55,721 | €690 | -€55,031 | -98.8% |
| Income taxes | 67/77 | €36,836 | -€15,922 | -€52,758 | |
| Profit (loss) for the period | 9904 | €18,886 | €16,613 | -€2,273 | -12.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,886 | €16,613 | -€2,273 | -12.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.