NAVE: what changed
NAVE
Largest movements
- Cash +€7,910
up €7,910 (+5.5%), from €144,985 to €152,895
mainly Net result for the year (+€18,318) and Depreciation (+€3,219)
- Tangible fixed assets +€7,356
up €7,356 (+14.4%), from €51,224 to €58,580
- Receivables within one year +€2,839
new in 2025: €2,839
- Reserves +€18,318
up €18,318 (+10.5%), from €173,708 to €192,027
- Other debts -€2,615
no longer reported in 2025 (was €2,615)
- Other operating charges -€3,420
down €3,420 (-45.4%), from €7,533 to €4,113
- Gross operating margin +€3,132
up €3,132 (+10.1%), from €31,021 to €34,153
- Taxes +€2,001
up €2,001 (+30.8%), from €6,502 to €8,503
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €197,406 | €214,743 | +€17,337 | +8.8% |
| Fixed assets | 21/28 | €51,224 | €58,580 | +€7,356 | +14.4% |
| Tangible fixed assets | 22/27 | €51,224 | €58,580 | +€7,356 | +14.4% |
| Land and buildings | 22 | €51,224 | €58,580 | +€7,356 | +14.4% |
| Current assets | 29/58 | €146,182 | €156,162 | +€9,980 | +6.8% |
| Amounts receivable within one year | 40/41 | - | €2,839 | +€2,839 | |
| Other amounts receivable | 41 | - | €2,839 | +€2,839 | |
| Cash at bank and in hand | 54/58 | €144,985 | €152,895 | +€7,910 | +5.5% |
| Deferred charges and accrued income | 490/1 | €1,198 | €428 | -€770 | -64.3% |
| Total equity and liabilities | 10/49 | €197,406 | €214,743 | +€17,337 | +8.8% |
| Equity | 10/15 | €192,258 | €210,577 | +€18,318 | +9.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €173,708 | €192,027 | +€18,318 | +10.5% |
| Distributable reserves | 133 | €173,708 | €192,027 | +€18,318 | +10.5% |
| Amounts payable | 17/49 | €5,148 | €4,166 | -€982 | -19.1% |
| Amounts payable within one year | 42/48 | €5,148 | €3,503 | -€1,645 | -32.0% |
| Taxes, remuneration and social security | 45 | €2,533 | €3,503 | +€970 | +38.3% |
| Taxes | 450/3 | €2,533 | €3,503 | +€970 | +38.3% |
| Other amounts payable | 47/48 | €2,615 | - | -€2,615 | |
| Accrued charges and deferred income | 492/3 | - | €663 | +€663 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,381 | €3,219 | -€162 | -4.8% |
| Other operating charges | 640/8 | €7,533 | €4,113 | -€3,420 | -45.4% |
| Gross operating margin | 9900 | €31,021 | €34,153 | +€3,132 | +10.1% |
| Operating profit (loss) | 9901 | €20,107 | €26,821 | +€6,714 | +33.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €0 | - | -€0 | |
| Recurring financial charges | 65 | €0 | - | -€0 | |
| Profit (loss) for the period before taxes | 9903 | €20,107 | €26,821 | +€6,714 | +33.4% |
| Income taxes | 67/77 | €6,502 | €8,503 | +€2,001 | +30.8% |
| Profit (loss) for the period | 9904 | €13,605 | €18,318 | +€4,713 | +34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,605 | €18,318 | +€4,713 | +34.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.