NAECO: 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.
NAECO
Largest movements
- Receivables within one year -€6,258
down €6,258 (-18.1%), from €34,654 to €28,396
of which Trade receivables: -€7,926
- Tangible fixed assets -€929
down €929 (-50.0%), from €1,858 to €929
- Other debts -€10,000
down €10,000 (-25.6%), from €39,055 to €29,055
- Profit (loss) carried forward +€4,014
up €4,014 (+37.5%), from -€10,704 to -€6,690
- Tax, wage and social debts -€1,135
down €1,135 (-86.3%), from €1,315 to €180
- Gross operating margin -€35,702
down €35,702 (-90.5%), from €39,436 to €3,734
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 | €37,725 | €30,605 | -€7,121 | -18.9% |
| Fixed assets | 21/28 | €1,858 | €929 | -€929 | -50.0% |
| Tangible fixed assets | 22/27 | €1,858 | €929 | -€929 | -50.0% |
| Other tangible fixed assets | 26 | €1,858 | €929 | -€929 | -50.0% |
| Current assets | 29/58 | €35,868 | €29,676 | -€6,192 | -17.3% |
| Amounts receivable within one year | 40/41 | €34,654 | €28,396 | -€6,258 | -18.1% |
| Trade receivables | 40 | €7,926 | - | -€7,926 | |
| Other amounts receivable | 41 | €26,729 | €28,396 | +€1,668 | +6.2% |
| Cash at bank and in hand | 54/58 | €1,214 | €1,279 | +€66 | +5.4% |
| Total equity and liabilities | 10/49 | €37,725 | €30,605 | -€7,121 | -18.9% |
| Equity | 10/15 | -€2,644 | €1,370 | +€4,014 | |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,704 | -€6,690 | +€4,014 | +37.5% |
| Amounts payable | 17/49 | €40,370 | €29,235 | -€11,135 | -27.6% |
| Amounts payable within one year | 42/48 | €40,370 | €29,235 | -€11,135 | -27.6% |
| Taxes, remuneration and social security | 45 | €1,315 | €180 | -€1,135 | -86.3% |
| Taxes | 450/3 | €1,315 | €180 | -€1,135 | -86.3% |
| Other amounts payable | 47/48 | €39,055 | €29,055 | -€10,000 | -25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €951 | €929 | -€23 | -2.4% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €39,436 | €3,734 | -€35,702 | -90.5% |
| Operating profit (loss) | 9901 | €38,100 | €2,418 | -€35,682 | -93.7% |
| Financial income | 75/76B | €1,372 | €1,668 | +€296 | +21.6% |
| Recurring financial income | 75 | €1,372 | €1,668 | +€296 | +21.6% |
| Financial charges | 65/66B | €38 | €72 | +€34 | +89.5% |
| Recurring financial charges | 65 | €38 | €72 | +€34 | +89.5% |
| Profit (loss) for the period before taxes | 9903 | €39,434 | €4,014 | -€35,420 | -89.8% |
| Profit (loss) for the period | 9904 | €39,434 | €4,014 | -€35,420 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €39,434 | €4,014 | -€35,420 | -89.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.