NAEGO: 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.
NAEGO
Largest movements
- Cash +€23,277
up €23,277 (+33.4%), from €69,736 to €93,013
mainly Net result for the year (+€34,209) and Tax, wage and social debts (+€9,046)
- Receivables within one year +€20,820
up €20,820 (+142.1%), from €14,650 to €35,470
of which Other amounts receivable: +€24,265
- Profit (loss) carried forward +€34,209
up €34,209 (+47.5%), from €72,092 to €106,302
- Tax, wage and social debts +€9,046
up €9,046 (+804.0%), from €1,125 to €10,171
of which Taxes: +€9,046
- Gross operating margin -€6,680
down €6,680 (-12.0%), from €55,671 to €48,991
- Taxes -€1,157
down €1,157 (-10.4%), from €11,151 to €9,994
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 | €94,979 | €137,536 | +€42,558 | +44.8% |
| Fixed assets | 21/28 | €7,871 | €6,612 | -€1,259 | -16.0% |
| Tangible fixed assets | 22/27 | €7,871 | €6,612 | -€1,259 | -16.0% |
| Plant, machinery and equipment | 23 | €1,826 | €2,008 | +€182 | +10.0% |
| Furniture and vehicles | 24 | €6,045 | €4,604 | -€1,441 | -23.8% |
| Current assets | 29/58 | €87,108 | €130,924 | +€43,817 | +50.3% |
| Amounts receivable within one year | 40/41 | €14,650 | €35,470 | +€20,820 | +142.1% |
| Trade receivables | 40 | €13,168 | €9,724 | -€3,444 | -26.2% |
| Other amounts receivable | 41 | €1,482 | €25,747 | +€24,265 | +1637.0% |
| Cash at bank and in hand | 54/58 | €69,736 | €93,013 | +€23,277 | +33.4% |
| Deferred charges and accrued income | 490/1 | €2,721 | €2,441 | -€280 | -10.3% |
| Total equity and liabilities | 10/49 | €94,979 | €137,536 | +€42,558 | +44.8% |
| Equity | 10/15 | €92,092 | €126,302 | +€34,209 | +37.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,092 | €106,302 | +€34,209 | +47.5% |
| Amounts payable | 17/49 | €2,886 | €11,235 | +€8,348 | +289.2% |
| Amounts payable within one year | 42/48 | €2,886 | €11,235 | +€8,348 | +289.2% |
| Trade debts | 44 | €1,036 | €1,063 | +€27 | +2.6% |
| Suppliers | 440/4 | €1,036 | €1,063 | +€27 | +2.6% |
| Taxes, remuneration and social security | 45 | €1,125 | €10,171 | +€9,046 | +804.0% |
| Taxes | 450/3 | €1,103 | €10,150 | +€9,046 | +819.9% |
| Remuneration and social security | 454/9 | €22 | €22 | = | 0.0% |
| Other amounts payable | 47/48 | €725 | - | -€725 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,397 | €2,932 | +€535 | +22.3% |
| Other operating charges | 640/8 | €873 | €857 | -€16 | -1.9% |
| Gross operating margin | 9900 | €55,671 | €48,991 | -€6,680 | -12.0% |
| Operating profit (loss) | 9901 | €52,400 | €45,202 | -€7,199 | -13.7% |
| Financial income | 75/76B | €0 | €42 | +€42 | +211500.0% |
| Recurring financial income | 75 | €0 | €42 | +€42 | +211500.0% |
| Financial charges | 65/66B | €1,045 | €1,041 | -€4 | -0.4% |
| Recurring financial charges | 65 | €1,045 | €1,041 | -€4 | -0.4% |
| Profit (loss) for the period before taxes | 9903 | €51,355 | €44,203 | -€7,152 | -13.9% |
| Income taxes | 67/77 | €11,151 | €9,994 | -€1,157 | -10.4% |
| Profit (loss) for the period | 9904 | €40,205 | €34,209 | -€5,995 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,205 | €34,209 | -€5,995 | -14.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.