NAVIS ACCRETIO: 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.
NAVIS ACCRETIO
Largest movements
- Cash -€43,236
down €43,236 (-30.2%), from €143,103 to €99,866
mainly Contributions, distributions and other (-€63,958) and Tax, wage and social debts (-€7,656)
- Receivables within one year -€21,243
down €21,243 (-69.6%), from €30,505 to €9,262
of which Other amounts receivable: -€21,288
- Tangible fixed assets -€6,323
down €6,323 (-38.9%), from €16,245 to €9,922
- Reserves -€33,129
down €33,129 (-24.5%), from €135,089 to €101,960
- Profit (loss) carried forward -€29,844
no longer reported in 2025 (was €29,844)
- Tax, wage and social debts -€7,656
down €7,656 (-68.8%), from €11,125 to €3,469
of which Taxes: -€7,656
- Write-downs +€25,724
new in 2025: €25,724
- Gross operating margin -€17,336
down €17,336 (-34.8%), from €49,769 to €32,432
- Taxes -€12,048
down €12,048 (-95.5%), from €12,618 to €570
- Depreciation -€5,577
down €5,577 (-59.5%), from €9,377 to €3,800
- Financial charges +€635
up €635 (+496%), from €128 to €762
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 | €190,117 | €120,505 | -€69,612 | -36.6% |
| Fixed assets | 21/28 | €16,245 | €9,922 | -€6,323 | -38.9% |
| Tangible fixed assets | 22/27 | €16,245 | €9,922 | -€6,323 | -38.9% |
| Furniture and vehicles | 24 | €16,245 | €9,922 | -€6,323 | -38.9% |
| Current assets | 29/58 | €173,873 | €110,584 | -€63,289 | -36.4% |
| Amounts receivable within one year | 40/41 | €30,505 | €9,262 | -€21,243 | -69.6% |
| Trade receivables | 40 | €4,365 | €4,410 | +€45 | +1.0% |
| Other amounts receivable | 41 | €26,140 | €4,852 | -€21,288 | -81.4% |
| Cash at bank and in hand | 54/58 | €143,103 | €99,866 | -€43,236 | -30.2% |
| Deferred charges and accrued income | 490/1 | €265 | €1,455 | +€1,191 | +450% |
| Total equity and liabilities | 10/49 | €190,117 | €120,505 | -€69,612 | -36.6% |
| Equity | 10/15 | €177,433 | €114,460 | -€62,973 | -35.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €135,089 | €101,960 | -€33,129 | -24.5% |
| Distributable reserves | 133 | €135,089 | €101,960 | -€33,129 | -24.5% |
| Profit (loss) carried forward | 14 | €29,844 | - | -€29,844 | |
| Amounts payable | 17/49 | €12,684 | €6,046 | -€6,639 | -52.3% |
| Amounts payable within one year | 42/48 | €12,684 | €6,046 | -€6,639 | -52.3% |
| Trade debts | 44 | €1,559 | €2,576 | +€1,017 | +65.3% |
| Suppliers | 440/4 | €1,559 | €2,576 | +€1,017 | +65.3% |
| Taxes, remuneration and social security | 45 | €11,125 | €3,469 | -€7,656 | -68.8% |
| Taxes | 450/3 | €8,125 | €469 | -€7,656 | -94.2% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Non-recurring operating income | 76A | - | €11,052 | +€11,052 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,377 | €3,800 | -€5,577 | -59.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €25,724 | +€25,724 | |
| Other operating charges | 640/8 | €1,186 | €592 | -€594 | -50.1% |
| Gross operating margin | 9900 | €49,769 | €32,432 | -€17,336 | -34.8% |
| Operating profit (loss) | 9901 | €39,206 | €2,317 | -€36,889 | -94.1% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €128 | €762 | +€635 | +496% |
| Recurring financial charges | 65 | €128 | €762 | +€635 | +496% |
| Profit (loss) for the period before taxes | 9903 | €39,080 | €1,555 | -€37,526 | -96.0% |
| Income taxes | 67/77 | €12,618 | €570 | -€12,048 | -95.5% |
| Profit (loss) for the period | 9904 | €26,462 | €985 | -€25,477 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,462 | €985 | -€25,477 | -96.3% |
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 23 October 2026 via checked.be.