NAYGO: 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.
NAYGO
Largest movements
- Receivables within one year +€218,083
up €218,083 (+151%), from €144,847 to €362,931
of which Other amounts receivable: +€219,356
- Cash -€160,229
down €160,229 (-70.4%), from €227,454 to €67,226
mainly Receivables within one year (-€218,083) and Net result for the year (-€91,339)
- Tangible fixed assets -€48,096
down €48,096 (-9.4%), from €509,687 to €461,592
of which Plant, machinery and equipment: -€42,493
- Advances received +€171,759
up €171,759 (+52.5%), from €327,096 to €498,855
- Profit (loss) carried forward -€91,339
down €91,339 (-128%), from -€71,226 to -€162,565
- Debts after one year -€30,939
down €30,939 (-16.5%), from €187,770 to €156,830
- Reserves -€30,000
down €30,000 (-9.9%), from €304,448 to €274,448
- Trade debts -€28,400
down €28,400 (-83.9%), from €33,848 to €5,448
- Gross operating margin +€67,052
up €67,052 (+19.8%), from €339,387 to €406,439
- Staff costs +€13,154
up €13,154 (+3.5%), from €378,645 to €391,798
- Other operating charges -€5,878
down €5,878 (-57.5%), from €10,214 to €4,336
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 | €921,433 | €941,710 | +€20,277 | +2.2% |
| Fixed assets | 21/28 | €509,874 | €468,278 | -€41,596 | -8.2% |
| Tangible fixed assets | 22/27 | €509,687 | €461,592 | -€48,096 | -9.4% |
| Plant, machinery and equipment | 23 | €483,282 | €440,789 | -€42,493 | -8.8% |
| Furniture and vehicles | 24 | €26,405 | €20,803 | -€5,602 | -21.2% |
| Financial fixed assets | 28 | €187 | €6,687 | +€6,500 | +3,482% |
| Current assets | 29/58 | €411,559 | €473,432 | +€61,873 | +15.0% |
| Stocks and contracts in progress | 3 | €35,296 | €38,993 | +€3,697 | +10.5% |
| Stocks | 30/36 | €35,296 | €38,993 | +€3,697 | +10.5% |
| Amounts receivable within one year | 40/41 | €144,847 | €362,931 | +€218,083 | +151% |
| Trade receivables | 40 | €12,445 | €11,172 | -€1,273 | -10.2% |
| Other amounts receivable | 41 | €132,403 | €351,759 | +€219,356 | +166% |
| Cash at bank and in hand | 54/58 | €227,454 | €67,226 | -€160,229 | -70.4% |
| Deferred charges and accrued income | 490/1 | €3,961 | €4,283 | +€321 | +8.1% |
| Total equity and liabilities | 10/49 | €921,433 | €941,710 | +€20,277 | +2.2% |
| Equity | 10/15 | €253,222 | €131,882 | -€121,339 | -47.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €304,448 | €274,448 | -€30,000 | -9.9% |
| Distributable reserves | 133 | €304,448 | €274,448 | -€30,000 | -9.9% |
| Profit (loss) carried forward | 14 | -€71,226 | -€162,565 | -€91,339 | -128% |
| Amounts payable | 17/49 | €668,211 | €809,828 | +€141,616 | +21.2% |
| Amounts payable after more than one year | 17 | €187,770 | €156,830 | -€30,939 | -16.5% |
| Financial debts | 170/4 | €187,770 | €156,830 | -€30,939 | -16.5% |
| Amounts payable within one year | 42/48 | €480,442 | €651,718 | +€171,276 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €67,668 | €77,734 | +€10,067 | +14.9% |
| Trade debts | 44 | €33,848 | €5,448 | -€28,400 | -83.9% |
| Suppliers | 440/4 | €33,848 | €5,448 | -€28,400 | -83.9% |
| Advances received on contracts in progress | 46 | €327,096 | €498,855 | +€171,759 | +52.5% |
| Taxes, remuneration and social security | 45 | €51,830 | €69,680 | +€17,850 | +34.4% |
| Taxes | 450/3 | - | €16,750 | +€16,750 | |
| Remuneration and social security | 454/9 | €51,830 | €52,931 | +€1,101 | +2.1% |
| Accrued charges and deferred income | 492/3 | - | €1,280 | +€1,280 | |
| Non-recurring operating income | 76A | - | €516 | +€516 | |
| Remuneration, social security and pensions | 62 | €378,645 | €391,798 | +€13,154 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,295 | €93,183 | +€889 | +1.0% |
| Other operating charges | 640/8 | €10,214 | €4,336 | -€5,878 | -57.5% |
| Gross operating margin | 9900 | €339,387 | €406,439 | +€67,052 | +19.8% |
| Operating profit (loss) | 9901 | -€141,766 | -€82,879 | +€58,887 | +41.5% |
| Financial income | 75/76B | €2,516 | €338 | -€2,178 | -86.6% |
| Recurring financial income | 75 | €2,516 | €338 | -€2,178 | -86.6% |
| Financial charges | 65/66B | €5,220 | €8,075 | +€2,855 | +54.7% |
| Recurring financial charges | 65 | €5,220 | €8,075 | +€2,855 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | -€144,471 | -€90,616 | +€53,855 | +37.3% |
| Income taxes | 67/77 | €284 | €723 | +€439 | +155% |
| Profit (loss) for the period | 9904 | -€144,755 | -€91,339 | +€53,416 | +36.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€144,755 | -€91,339 | +€53,416 | +36.9% |
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.