NAVISO: 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.
NAVISO
Largest movements
- Cash -€22,562
down €22,562 (-12.5%), from €180,398 to €157,837
mainly Contributions, distributions and other (-€200,000) and Smaller working-capital items (-€29)
- Tangible fixed assets -€17,540
down €17,540 (-22.8%), from €77,015 to €59,474
- Receivables within one year -€4,196
down €4,196 (-100%), from €4,196 to €0
- Profit (loss) carried forward -€200,000
down €200,000 (-89.6%), from €223,322 to €23,322
- Other debts +€70,000
new in 2025: €70,000
- Reserves +€57,786
up €57,786 (+1,284%), from €4,500 to €62,286
of which Distributable reserves: +€57,786
- Tax, wage and social debts +€27,944
up €27,944 (+297%), from €9,396 to €37,340
- Gross operating margin -€69,227
down €69,227 (-39.5%), from €175,412 to €106,185
- Taxes -€12,262
down €12,262 (-29.6%), from €41,493 to €29,232
- Depreciation +€6,853
up €6,853 (+64.1%), from €10,687 to €17,540
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 | €262,537 | €218,275 | -€44,262 | -16.9% |
| Fixed assets | 21/28 | €77,015 | €59,474 | -€17,540 | -22.8% |
| Tangible fixed assets | 22/27 | €77,015 | €59,474 | -€17,540 | -22.8% |
| Furniture and vehicles | 24 | €77,015 | €59,474 | -€17,540 | -22.8% |
| Current assets | 29/58 | €185,522 | €158,800 | -€26,722 | -14.4% |
| Amounts receivable within one year | 40/41 | €4,196 | €0 | -€4,196 | -100% |
| Other amounts receivable | 41 | €4,196 | €0 | -€4,196 | -100% |
| Cash at bank and in hand | 54/58 | €180,398 | €157,837 | -€22,562 | -12.5% |
| Deferred charges and accrued income | 490/1 | €927 | €964 | +€36 | +3.9% |
| Total equity and liabilities | 10/49 | €262,537 | €218,275 | -€44,262 | -16.9% |
| Equity | 10/15 | €252,822 | €110,608 | -€142,214 | -56.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €4,500 | €62,286 | +€57,786 | +1,284% |
| Tax-exempt reserves | 132 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €60,286 | +€57,786 | +2,311% |
| Profit (loss) carried forward | 14 | €223,322 | €23,322 | -€200,000 | -89.6% |
| Amounts payable | 17/49 | €9,716 | €107,667 | +€97,951 | +1,008% |
| Amounts payable within one year | 42/48 | €9,716 | €107,667 | +€97,951 | +1,008% |
| Trade debts | 44 | €319 | €327 | +€7 | +2.3% |
| Suppliers | 440/4 | €319 | €327 | +€7 | +2.3% |
| Taxes, remuneration and social security | 45 | €9,396 | €37,340 | +€27,944 | +297% |
| Taxes | 450/3 | €9,396 | €37,340 | +€27,944 | +297% |
| Other amounts payable | 47/48 | - | €70,000 | +€70,000 | |
| Non-recurring operating income | 76A | €45,000 | €0 | -€45,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,687 | €17,540 | +€6,853 | +64.1% |
| Other operating charges | 640/8 | €1,041 | €869 | -€172 | -16.5% |
| Gross operating margin | 9900 | €175,412 | €106,185 | -€69,227 | -39.5% |
| Operating profit (loss) | 9901 | €163,684 | €87,776 | -€75,908 | -46.4% |
| Financial charges | 65/66B | €0 | €757 | +€757 | +3,787,350% |
| Recurring financial charges | 65 | €0 | €757 | +€757 | +3,787,350% |
| Profit (loss) for the period before taxes | 9903 | €163,684 | €87,018 | -€76,666 | -46.8% |
| Income taxes | 67/77 | €41,493 | €29,232 | -€12,262 | -29.6% |
| Profit (loss) for the period | 9904 | €122,190 | €57,786 | -€64,404 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €122,190 | €57,786 | -€64,404 | -52.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.