N.E. TRAINT: 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.
N.E. TRAINT
Largest movements
- Cash +€17,311
up €17,311 (+39.9%), from €43,343 to €60,654
mainly Net result for the year (+€22,709) and Depreciation (+€20,501)
- Tangible fixed assets -€10,306
down €10,306 (-14.5%), from €71,194 to €60,888
of which Furniture and vehicles: -€12,079
- Receivables within one year +€2,176
up €2,176 (+5.2%), from €41,881 to €44,057
of which Trade receivables: +€9,352
- Reserves +€22,709
up €22,709 (+49.3%), from €46,061 to €68,769
- Debts after one year -€15,340
down €15,340 (-31.2%), from €49,111 to €33,770
- Tax, wage and social debts +€4,226
up €4,226 (+103.9%), from €4,067 to €8,293
of which Taxes: +€4,226
- Accrued charges and deferred income -€1,678
down €1,678 (-21.7%), from €7,735 to €6,057
- Gross operating margin +€24,041
up €24,041 (+79.3%), from €30,302 to €54,344
- Taxes +€4,912
up €4,912 (+244.6%), from €2,008 to €6,920
- Depreciation +€2,379
up €2,379 (+13.1%), from €18,123 to €20,501
- Other operating charges -€1,343
down €1,343 (-55.6%), from €2,417 to €1,074
- Financial charges -€1,006
down €1,006 (-24.2%), from €4,158 to €3,151
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 | €156,654 | €165,843 | +€9,189 | +5.9% |
| Fixed assets | 21/28 | €71,194 | €60,888 | -€10,306 | -14.5% |
| Tangible fixed assets | 22/27 | €71,194 | €60,888 | -€10,306 | -14.5% |
| Plant, machinery and equipment | 23 | €1,365 | €3,319 | +€1,954 | +143.2% |
| Furniture and vehicles | 24 | €69,579 | €57,500 | -€12,079 | -17.4% |
| Other tangible fixed assets | 26 | €250 | €69 | -€180 | -72.2% |
| Current assets | 29/58 | €85,460 | €104,955 | +€19,495 | +22.8% |
| Amounts receivable within one year | 40/41 | €41,881 | €44,057 | +€2,176 | +5.2% |
| Trade receivables | 40 | €31,688 | €41,040 | +€9,352 | +29.5% |
| Other amounts receivable | 41 | €10,193 | €3,017 | -€7,176 | -70.4% |
| Cash at bank and in hand | 54/58 | €43,343 | €60,654 | +€17,311 | +39.9% |
| Deferred charges and accrued income | 490/1 | €236 | €244 | +€8 | +3.4% |
| Total equity and liabilities | 10/49 | €156,654 | €165,843 | +€9,189 | +5.9% |
| Equity | 10/15 | €64,661 | €87,369 | +€22,709 | +35.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €46,061 | €68,769 | +€22,709 | +49.3% |
| Distributable reserves | 133 | €46,061 | €68,769 | +€22,709 | +49.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €91,993 | €78,474 | -€13,519 | -14.7% |
| Amounts payable after more than one year | 17 | €49,111 | €33,770 | -€15,340 | -31.2% |
| Financial debts | 170/4 | €49,111 | €33,770 | -€15,340 | -31.2% |
| Amounts payable within one year | 42/48 | €35,148 | €38,647 | +€3,499 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €14,803 | €14,803 | = | 0.0% |
| Financial debts | 43 | - | €537 | +€537 | |
| Credit institutions | 430/8 | - | €537 | +€537 | |
| Trade debts | 44 | €2,914 | €2,155 | -€758 | -26.0% |
| Suppliers | 440/4 | €2,914 | €2,155 | -€758 | -26.0% |
| Taxes, remuneration and social security | 45 | €4,067 | €8,293 | +€4,226 | +103.9% |
| Taxes | 450/3 | €4,067 | €8,293 | +€4,226 | +103.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €13,364 | €12,859 | -€506 | -3.8% |
| Accrued charges and deferred income | 492/3 | €7,735 | €6,057 | -€1,678 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,123 | €20,501 | +€2,379 | +13.1% |
| Other operating charges | 640/8 | €2,417 | €1,074 | -€1,343 | -55.6% |
| Gross operating margin | 9900 | €30,302 | €54,344 | +€24,041 | +79.3% |
| Operating profit (loss) | 9901 | €9,763 | €32,768 | +€23,006 | +235.7% |
| Financial income | 75/76B | €20 | €12 | -€9 | -42.5% |
| Recurring financial income | 75 | €20 | €12 | -€9 | -42.5% |
| Financial charges | 65/66B | €4,158 | €3,151 | -€1,006 | -24.2% |
| Recurring financial charges | 65 | €4,158 | €3,151 | -€1,006 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €5,625 | €29,629 | +€24,004 | +426.7% |
| Income taxes | 67/77 | €2,008 | €6,920 | +€4,912 | +244.6% |
| Profit (loss) for the period | 9904 | €3,617 | €22,709 | +€19,092 | +527.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,617 | €22,709 | +€19,092 | +527.9% |
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 5 October 2026 via checked.be.