NAYARO: 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.
NAYARO
Largest movements
- Tangible fixed assets -€26,442
down €26,442 (-4.0%), from €661,606 to €635,164
of which Assets under construction and advance payments: -€184,177
- Debts after one year -€36,690
down €36,690 (-7.4%), from €496,110 to €459,420
- Gross operating margin -€4,606
down €4,606 (-7.4%), from €62,508 to €57,902
- Depreciation +€1,745
up €1,745 (+5.6%), from €30,998 to €32,744
- Taxes -€1,725
down €1,725 (-32.6%), from €5,298 to €3,573
- Financial charges -€710
down €710 (-6.6%), from €10,738 to €10,028
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 | €708,238 | €678,289 | -€29,949 | -4.2% |
| Formation expenses | 20 | €252 | €58 | -€195 | -77.2% |
| Fixed assets | 21/28 | €701,956 | €675,514 | -€26,442 | -3.8% |
| Tangible fixed assets | 22/27 | €661,606 | €635,164 | -€26,442 | -4.0% |
| Land and buildings | 22 | €463,954 | €624,184 | +€160,230 | +34.5% |
| Plant, machinery and equipment | 23 | €4,111 | €2,741 | -€1,370 | -33.3% |
| Furniture and vehicles | 24 | €9,363 | €8,239 | -€1,124 | -12.0% |
| Assets under construction and advance payments | 27 | €184,177 | - | -€184,177 | |
| Financial fixed assets | 28 | €40,350 | €40,350 | = | 0.0% |
| Current assets | 29/58 | €6,029 | €2,717 | -€3,312 | -54.9% |
| Amounts receivable within one year | 40/41 | - | €59 | +€59 | |
| Other amounts receivable | 41 | - | €59 | +€59 | |
| Cash at bank and in hand | 54/58 | €3,668 | €212 | -€3,457 | -94.2% |
| Deferred charges and accrued income | 490/1 | €2,361 | €2,447 | +€86 | +3.6% |
| Total equity and liabilities | 10/49 | €708,238 | €678,289 | -€29,949 | -4.2% |
| Equity | 10/15 | €47,564 | €52,641 | +€5,077 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,104 | €32,181 | +€5,077 | +18.7% |
| Amounts payable | 17/49 | €660,674 | €625,648 | -€35,026 | -5.3% |
| Amounts payable after more than one year | 17 | €496,110 | €459,420 | -€36,690 | -7.4% |
| Financial debts | 170/4 | €496,110 | €459,420 | -€36,690 | -7.4% |
| Amounts payable within one year | 42/48 | €164,564 | €166,228 | +€1,664 | +1.0% |
| Current portion of amounts payable after more than one year | 42 | €26,833 | €32,281 | +€5,447 | +20.3% |
| Trade debts | 44 | €962 | €1,118 | +€156 | +16.3% |
| Suppliers | 440/4 | €962 | €1,118 | +€156 | +16.3% |
| Taxes, remuneration and social security | 45 | €5,904 | €3,226 | -€2,678 | -45.4% |
| Taxes | 450/3 | €5,904 | €3,226 | -€2,678 | -45.4% |
| Other amounts payable | 47/48 | €130,864 | €129,603 | -€1,261 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,998 | €32,744 | +€1,745 | +5.6% |
| Other operating charges | 640/8 | €6,154 | €6,480 | +€326 | +5.3% |
| Gross operating margin | 9900 | €62,508 | €57,902 | -€4,606 | -7.4% |
| Operating profit (loss) | 9901 | €25,355 | €18,678 | -€6,677 | -26.3% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200% |
| Financial charges | 65/66B | €10,738 | €10,028 | -€710 | -6.6% |
| Recurring financial charges | 65 | €10,738 | €10,028 | -€710 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €14,617 | €8,650 | -€5,967 | -40.8% |
| Income taxes | 67/77 | €5,298 | €3,573 | -€1,725 | -32.6% |
| Profit (loss) for the period | 9904 | €9,319 | €5,077 | -€4,242 | -45.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,319 | €5,077 | -€4,242 | -45.5% |
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 30 October 2026 via checked.be.