Naleo: 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.
Naleo
Largest movements
- Receivables within one year +€62,929
up €62,929 (+400.9%), from €15,697 to €78,626
of which Other amounts receivable: +€63,782
- Tangible fixed assets -€32,761
down €32,761 (-32.7%), from €100,303 to €67,542
of which Leasing and similar rights: -€17,134
- Intangible fixed assets -€28,600
down €28,600 (-13.7%), from €208,662 to €180,062
- Cash +€15,790
up €15,790 (+3114.1%), from €507 to €16,297
mainly Depreciation (+€64,318) and Net result for the year (+€49,362)
- Stocks and contracts -€3,792
down €3,792 (-20.8%), from €18,247 to €14,455
- Reserves +€49,362
up €49,362 (+60.8%), from €81,190 to €130,551
- Debts after one year -€39,814
down €39,814 (-60.5%), from €65,793 to €25,979
- Trade debts +€28,847
up €28,847 (+27.1%), from €106,254 to €135,101
- Tax, wage and social debts -€12,905
down €12,905 (-58.0%), from €22,232 to €9,326
of which Taxes: -€13,262
- Current portion of long-term debt -€6,313
down €6,313 (-10.7%), from €59,127 to €52,814
- Gross operating margin +€17,798
up €17,798 (+13.5%), from €132,321 to €150,119
- Taxes +€6,487
up €6,487 (+57.0%), from €11,381 to €17,869
- Financial charges -€5,415
down €5,415 (-50.2%), from €10,779 to €5,363
- Financial income +€4,565
new in 2025: €4,565
- Depreciation +€4,157
up €4,157 (+6.9%), from €60,161 to €64,318
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 | €343,417 | €360,113 | +€16,696 | +4.9% |
| Fixed assets | 21/28 | €308,965 | €247,604 | -€61,361 | -19.9% |
| Intangible fixed assets | 21 | €208,662 | €180,062 | -€28,600 | -13.7% |
| Tangible fixed assets | 22/27 | €100,303 | €67,542 | -€32,761 | -32.7% |
| Plant, machinery and equipment | 23 | €2,603 | €1,732 | -€871 | -33.5% |
| Furniture and vehicles | 24 | €49,947 | €35,366 | -€14,582 | -29.2% |
| Leasing and similar rights | 25 | €46,189 | €29,055 | -€17,134 | -37.1% |
| Other tangible fixed assets | 26 | €1,564 | €1,389 | -€175 | -11.2% |
| Current assets | 29/58 | €34,451 | €112,508 | +€78,057 | +226.6% |
| Stocks and contracts in progress | 3 | €18,247 | €14,455 | -€3,792 | -20.8% |
| Stocks | 30/36 | €18,247 | €14,455 | -€3,792 | -20.8% |
| Amounts receivable within one year | 40/41 | €15,697 | €78,626 | +€62,929 | +400.9% |
| Trade receivables | 40 | €6,467 | €5,614 | -€853 | -13.2% |
| Other amounts receivable | 41 | €9,230 | €73,012 | +€63,782 | +691.1% |
| Cash at bank and in hand | 54/58 | €507 | €16,297 | +€15,790 | +3114.1% |
| Deferred charges and accrued income | 490/1 | €0 | €3,129 | +€3,129 | |
| Total equity and liabilities | 10/49 | €343,417 | €360,113 | +€16,696 | +4.9% |
| Equity | 10/15 | €85,190 | €134,551 | +€49,362 | +57.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €81,190 | €130,551 | +€49,362 | +60.8% |
| Distributable reserves | 133 | €81,190 | €130,551 | +€49,362 | +60.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €258,227 | €225,561 | -€32,666 | -12.7% |
| Amounts payable after more than one year | 17 | €65,793 | €25,979 | -€39,814 | -60.5% |
| Financial debts | 170/4 | €65,793 | €25,979 | -€39,814 | -60.5% |
| Amounts payable within one year | 42/48 | €190,093 | €197,242 | +€7,148 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €59,127 | €52,814 | -€6,313 | -10.7% |
| Financial debts | 43 | €2,480 | €0 | -€2,480 | -100.0% |
| Credit institutions | 430/8 | €2,480 | €0 | -€2,480 | -100.0% |
| Trade debts | 44 | €106,254 | €135,101 | +€28,847 | +27.1% |
| Suppliers | 440/4 | €106,254 | €135,101 | +€28,847 | +27.1% |
| Taxes, remuneration and social security | 45 | €22,232 | €9,326 | -€12,905 | -58.0% |
| Taxes | 450/3 | €18,160 | €4,897 | -€13,262 | -73.0% |
| Remuneration and social security | 454/9 | €4,072 | €4,429 | +€357 | +8.8% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,341 | €2,341 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €14,442 | €15,636 | +€1,194 | +8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,161 | €64,318 | +€4,157 | +6.9% |
| Other operating charges | 640/8 | €2,978 | €2,136 | -€842 | -28.3% |
| Gross operating margin | 9900 | €132,321 | €150,119 | +€17,798 | +13.5% |
| Operating profit (loss) | 9901 | €54,741 | €68,029 | +€13,288 | +24.3% |
| Financial income | 75/76B | - | €4,565 | +€4,565 | |
| Recurring financial income | 75 | - | €4,565 | +€4,565 | |
| Financial charges | 65/66B | €10,779 | €5,363 | -€5,415 | -50.2% |
| Recurring financial charges | 65 | €10,779 | €5,363 | -€5,415 | -50.2% |
| Profit (loss) for the period before taxes | 9903 | €43,962 | €67,230 | +€23,268 | +52.9% |
| Income taxes | 67/77 | €11,381 | €17,869 | +€6,487 | +57.0% |
| Profit (loss) for the period | 9904 | €32,581 | €49,362 | +€16,781 | +51.5% |
| Profit (loss) for the period to be appropriated | 9905 | €32,581 | €49,362 | +€16,781 | +51.5% |
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 12 October 2026 via checked.be.