NRAVL: 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.
NRAVL
Largest movements
- Deferred charges and accrued income +€103,905
up €103,905 (+10004.4%), from €1,039 to €104,943
- Receivables within one year +€94,871
up €94,871 (+72.6%), from €130,654 to €225,525
of which Trade receivables: +€110,373
- Cash -€28,607
down €28,607 (-18.2%), from €157,085 to €128,478
mainly Contributions, distributions and other (-€123,000) and Deferred charges and accrued income (-€103,905)
- Other debts +€83,000
up €83,000 (+207.5%), from €40,000 to €123,000
- Reserves +€69,632
up €69,632 (+243.4%), from €28,608 to €98,240
- Trade debts +€10,572
up €10,572 (+24.9%), from €42,457 to €53,029
- Tax, wage and social debts +€7,005
up €7,005 (+39.7%), from €17,625 to €24,630
- Financial income +€103,000
up €103,000, from €0 to €103,000
- Gross operating margin +€29,050
up €29,050 (+33.9%), from €85,718 to €114,768
- Taxes +€7,005
up €7,005 (+39.8%), from €17,621 to €24,625
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.
Cash bridge derived
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 | €328,777 | €498,946 | +€170,168 | +51.8% |
| Fixed assets | 21/28 | €40,000 | €40,000 | = | 0.0% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €288,777 | €458,946 | +€170,168 | +58.9% |
| Amounts receivable within one year | 40/41 | €130,654 | €225,525 | +€94,871 | +72.6% |
| Trade receivables | 40 | €89,900 | €200,273 | +€110,373 | +122.8% |
| Other amounts receivable | 41 | €40,754 | €25,252 | -€15,502 | -38.0% |
| Cash at bank and in hand | 54/58 | €157,085 | €128,478 | -€28,607 | -18.2% |
| Deferred charges and accrued income | 490/1 | €1,039 | €104,943 | +€103,905 | +10004.4% |
| Total equity and liabilities | 10/49 | €328,777 | €498,946 | +€170,168 | +51.8% |
| Equity | 10/15 | €228,608 | €298,240 | +€69,632 | +30.5% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €28,608 | €98,240 | +€69,632 | +243.4% |
| Distributable reserves | 133 | €28,608 | €98,240 | +€69,632 | +243.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €100,169 | €200,706 | +€100,536 | +100.4% |
| Amounts payable within one year | 42/48 | €100,082 | €200,659 | +€100,577 | +100.5% |
| Trade debts | 44 | €42,457 | €53,029 | +€10,572 | +24.9% |
| Suppliers | 440/4 | €42,457 | €53,029 | +€10,572 | +24.9% |
| Taxes, remuneration and social security | 45 | €17,625 | €24,630 | +€7,005 | +39.7% |
| Taxes | 450/3 | €17,625 | €24,630 | +€7,005 | +39.7% |
| Other amounts payable | 47/48 | €40,000 | €123,000 | +€83,000 | +207.5% |
| Accrued charges and deferred income | 492/3 | €87 | €46 | -€41 | -46.7% |
| Other operating charges | 640/8 | €0 | €400 | +€400 | |
| Gross operating margin | 9900 | €85,718 | €114,768 | +€29,050 | +33.9% |
| Operating profit (loss) | 9901 | €85,718 | €114,368 | +€28,651 | +33.4% |
| Financial income | 75/76B | €0 | €103,000 | +€103,000 | |
| Recurring financial income | 75 | €0 | €103,000 | +€103,000 | |
| Financial charges | 65/66B | €168 | €111 | -€57 | -33.8% |
| Recurring financial charges | 65 | €168 | €111 | -€57 | -33.8% |
| Profit (loss) for the period before taxes | 9903 | €85,550 | €217,257 | +€131,707 | +154.0% |
| Income taxes | 67/77 | €17,621 | €24,625 | +€7,005 | +39.8% |
| Profit (loss) for the period | 9904 | €67,929 | €192,632 | +€124,703 | +183.6% |
| Profit (loss) for the period to be appropriated | 9905 | €67,929 | €192,632 | +€124,703 | +183.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.