De Neef: what changed
De Neef
Largest movements
- Tangible fixed assets +€44,569
up €44,569 (+270%), from €16,517 to €61,086
of which Furniture and vehicles: +€46,153
- Receivables within one year -€1,715
down €1,715 (-62.4%), from €2,748 to €1,033
of which Other amounts receivable: -€1,534
- Cash +€1,212
up €1,212 (+24.4%), from €4,966 to €6,178
mainly Debts after one year (+€27,063) and Depreciation (+€19,331)
- Debts after one year +€27,063
new in 2025: €27,063
- Other debts +€14,500
up €14,500 (+107%), from €13,509 to €28,008
- Current portion of long-term debt +€11,545
new in 2025: €11,545
- Profit (loss) carried forward -€4,734
down €4,734 (-46.3%), from -€10,229 to -€14,964
- Trade debts -€2,999
down €2,999 (-74.5%), from €4,028 to €1,029
- Gross operating margin +€23,038
up €23,038, from -€5,103 to €17,935
- Depreciation +€11,061
up €11,061 (+134%), from €8,270 to €19,331
- Financial charges +€2,114
up €2,114 (+703%), from €301 to €2,415
- Other operating charges -€413
down €413 (-31.4%), from €1,314 to €902
- Financial income -€196
down €196 (-82.3%), from €239 to €42
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 | €24,311 | €68,396 | +€44,085 | +181% |
| Fixed assets | 21/28 | €16,597 | €61,146 | +€44,549 | +268% |
| Intangible fixed assets | 21 | €80 | €60 | -€20 | -25.0% |
| Tangible fixed assets | 22/27 | €16,517 | €61,086 | +€44,569 | +270% |
| Plant, machinery and equipment | 23 | €3,202 | €1,618 | -€1,583 | -49.5% |
| Furniture and vehicles | 24 | €13,315 | €59,468 | +€46,153 | +347% |
| Current assets | 29/58 | €7,714 | €7,250 | -€464 | -6.0% |
| Amounts receivable within one year | 40/41 | €2,748 | €1,033 | -€1,715 | -62.4% |
| Trade receivables | 40 | €596 | €415 | -€182 | -30.4% |
| Other amounts receivable | 41 | €2,152 | €618 | -€1,534 | -71.3% |
| Cash at bank and in hand | 54/58 | €4,966 | €6,178 | +€1,212 | +24.4% |
| Deferred charges and accrued income | 490/1 | - | €39 | +€39 | |
| Total equity and liabilities | 10/49 | €24,311 | €68,396 | +€44,085 | +181% |
| Equity | 10/15 | €2,771 | -€1,964 | -€4,734 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,229 | -€14,964 | -€4,734 | -46.3% |
| Amounts payable | 17/49 | €21,540 | €70,360 | +€48,820 | +227% |
| Amounts payable after more than one year | 17 | - | €27,063 | +€27,063 | |
| Financial debts | 170/4 | - | €27,063 | +€27,063 | |
| Amounts payable within one year | 42/48 | €21,540 | €43,297 | +€21,757 | +101% |
| Current portion of amounts payable after more than one year | 42 | - | €11,545 | +€11,545 | |
| Financial debts | 43 | €454 | €0 | -€454 | -100% |
| Credit institutions | 430/8 | €454 | €0 | -€454 | -100% |
| Trade debts | 44 | €4,028 | €1,029 | -€2,999 | -74.5% |
| Suppliers | 440/4 | €4,028 | €1,029 | -€2,999 | -74.5% |
| Taxes, remuneration and social security | 45 | €3,550 | €2,715 | -€835 | -23.5% |
| Taxes | 450/3 | €1,800 | €965 | -€835 | -46.4% |
| Remuneration and social security | 454/9 | €1,750 | €1,750 | = | 0.0% |
| Other amounts payable | 47/48 | €13,509 | €28,008 | +€14,500 | +107% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,270 | €19,331 | +€11,061 | +134% |
| Other operating charges | 640/8 | €1,314 | €902 | -€413 | -31.4% |
| Gross operating margin | 9900 | -€5,103 | €17,935 | +€23,038 | |
| Operating profit (loss) | 9901 | -€14,687 | -€2,298 | +€12,390 | +84.4% |
| Financial income | 75/76B | €239 | €42 | -€196 | -82.3% |
| Recurring financial income | 75 | €239 | €42 | -€196 | -82.3% |
| Financial charges | 65/66B | €301 | €2,415 | +€2,114 | +703% |
| Recurring financial charges | 65 | €301 | €2,415 | +€2,114 | +703% |
| Profit (loss) for the period before taxes | 9903 | -€14,749 | -€4,670 | +€10,079 | +68.3% |
| Income taxes | 67/77 | - | €65 | +€65 | |
| Profit (loss) for the period | 9904 | -€14,749 | -€4,734 | +€10,015 | +67.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,749 | -€4,734 | +€10,015 | +67.9% |
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 2 November 2026 via checked.be.