Naelemke: 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.
Naelemke
Largest movements
- Cash +€32,307
up €32,307 (+192.1%), from €16,818 to €49,125
mainly Net result for the year (+€15,957) and Tax, wage and social debts (+€12,148)
- Receivables within one year -€9,719
down €9,719 (-54.0%), from €17,984 to €8,264
of which Trade receivables: -€9,721
- Tangible fixed assets -€938
down €938 (-26.4%), from €3,558 to €2,620
- Reserves +€15,957
up €15,957 (+1455.8%), from €1,096 to €17,053
- Tax, wage and social debts +€12,148
up €12,148 (+57.5%), from €21,109 to €33,256
of which Taxes: +€7,813
- Trade debts -€6,036
down €6,036 (-41.8%), from €14,455 to €8,419
- Gross operating margin +€53,932
up €53,932 (+65.0%), from €82,991 to €136,923
- Staff costs +€34,038
up €34,038 (+44.0%), from €77,394 to €111,432
- Taxes +€6,466
up €6,466 (+506.9%), from €1,276 to €7,742
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 | €39,659 | €61,728 | +€22,069 | +55.6% |
| Fixed assets | 21/28 | €4,158 | €3,520 | -€638 | -15.4% |
| Tangible fixed assets | 22/27 | €3,558 | €2,620 | -€938 | -26.4% |
| Land and buildings | 22 | €3,558 | €2,620 | -€938 | -26.4% |
| Financial fixed assets | 28 | €600 | €900 | +€300 | +50.0% |
| Current assets | 29/58 | €35,501 | €58,208 | +€22,707 | +64.0% |
| Amounts receivable within one year | 40/41 | €17,984 | €8,264 | -€9,719 | -54.0% |
| Trade receivables | 40 | €17,984 | €8,263 | -€9,721 | -54.1% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €16,818 | €49,125 | +€32,307 | +192.1% |
| Deferred charges and accrued income | 490/1 | €699 | €819 | +€120 | +17.1% |
| Total equity and liabilities | 10/49 | €39,659 | €61,728 | +€22,069 | +55.6% |
| Equity | 10/15 | €4,096 | €20,053 | +€15,957 | +389.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,096 | €17,053 | +€15,957 | +1455.8% |
| Distributable reserves | 133 | €1,096 | €17,053 | +€15,957 | +1455.8% |
| Amounts payable | 17/49 | €35,563 | €41,675 | +€6,112 | +17.2% |
| Amounts payable within one year | 42/48 | €35,563 | €41,675 | +€6,112 | +17.2% |
| Trade debts | 44 | €14,455 | €8,419 | -€6,036 | -41.8% |
| Suppliers | 440/4 | €14,455 | €8,419 | -€6,036 | -41.8% |
| Taxes, remuneration and social security | 45 | €21,109 | €33,256 | +€12,148 | +57.5% |
| Taxes | 450/3 | €2,852 | €10,666 | +€7,813 | +273.9% |
| Remuneration and social security | 454/9 | €18,257 | €22,591 | +€4,334 | +23.7% |
| Remuneration, social security and pensions | 62 | €77,394 | €111,432 | +€34,038 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,134 | €938 | -€195 | -17.2% |
| Other operating charges | 640/8 | €2,106 | €877 | -€1,228 | -58.3% |
| Gross operating margin | 9900 | €82,991 | €136,923 | +€53,932 | +65.0% |
| Operating profit (loss) | 9901 | €2,358 | €23,676 | +€21,318 | +904.0% |
| Financial income | 75/76B | €34 | €114 | +€80 | +234.3% |
| Recurring financial income | 75 | €34 | €114 | +€80 | +234.3% |
| Financial charges | 65/66B | €20 | €90 | +€70 | +346.1% |
| Recurring financial charges | 65 | €20 | €90 | +€70 | +346.1% |
| Profit (loss) for the period before taxes | 9903 | €2,372 | €23,699 | +€21,327 | +899.2% |
| Income taxes | 67/77 | €1,276 | €7,742 | +€6,466 | +506.9% |
| Profit (loss) for the period | 9904 | €1,096 | €15,957 | +€14,861 | +1355.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,096 | €15,957 | +€14,861 | +1355.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.