NE-GE: 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.
NE-GE
Largest movements
- Cash -€38,646
down €38,646 (-42.9%), from €90,077 to €51,432
mainly Contributions, distributions and other (-€43,121) and Investment in fixed assets (net) (-€37,659)
- Tangible fixed assets +€31,222
up €31,222 (+1,031%), from €3,027 to €34,249
of which Furniture and vehicles: +€33,326
- Receivables within one year -€11,461
down €11,461 (-18.8%), from €61,057 to €49,596
of which Other amounts receivable: -€30,035
- Deferred charges and accrued income -€4,496
down €4,496 (-37.9%), from €11,859 to €7,363
- Receivables after one year -€3,250
down €3,250 (-5.3%), from €61,750 to €58,500
- Reserves -€19,930
down €19,930 (-14.1%), from €141,269 to €121,339
of which Distributable reserves: -€19,930
- Debts after one year -€10,058
down €10,058 (-23.5%), from €42,748 to €32,690
- Other debts +€2,555
new in 2025: €2,555
- Tax, wage and social debts +€2,550
up €2,550 (+10.5%), from €24,220 to €26,770
of which Taxes: +€4,052
- Gross operating margin -€30,115
down €30,115 (-42.7%), from €70,588 to €40,473
- Taxes -€8,821
down €8,821 (-45.4%), from €19,450 to €10,629
- Other operating charges -€2,436
down €2,436 (-71.7%), from €3,400 to €964
- Depreciation +€1,989
up €1,989 (+44.7%), from €4,449 to €6,438
- Financial charges -€1,491
down €1,491 (-37.6%), from €3,964 to €2,473
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 | €227,770 | €201,139 | -€26,631 | -11.7% |
| Fixed assets | 21/28 | €3,027 | €34,249 | +€31,222 | +1,031% |
| Tangible fixed assets | 22/27 | €3,027 | €34,249 | +€31,222 | +1,031% |
| Land and buildings | 22 | €871 | €172 | -€699 | -80.2% |
| Plant, machinery and equipment | 23 | €2,156 | €751 | -€1,405 | -65.2% |
| Furniture and vehicles | 24 | - | €33,326 | +€33,326 | |
| Current assets | 29/58 | €224,743 | €166,890 | -€57,853 | -25.7% |
| Amounts receivable after more than one year | 29 | €61,750 | €58,500 | -€3,250 | -5.3% |
| Other amounts receivable | 291 | €61,750 | €58,500 | -€3,250 | -5.3% |
| Amounts receivable within one year | 40/41 | €61,057 | €49,596 | -€11,461 | -18.8% |
| Trade receivables | 40 | €15,119 | €33,694 | +€18,575 | +123% |
| Other amounts receivable | 41 | €45,938 | €15,903 | -€30,035 | -65.4% |
| Cash at bank and in hand | 54/58 | €90,077 | €51,432 | -€38,646 | -42.9% |
| Deferred charges and accrued income | 490/1 | €11,859 | €7,363 | -€4,496 | -37.9% |
| Total equity and liabilities | 10/49 | €227,770 | €201,139 | -€26,631 | -11.7% |
| Equity | 10/15 | €147,469 | €127,539 | -€19,930 | -13.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €141,269 | €121,339 | -€19,930 | -14.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €139,414 | €119,484 | -€19,930 | -14.3% |
| Amounts payable | 17/49 | €80,301 | €73,601 | -€6,701 | -8.3% |
| Amounts payable after more than one year | 17 | €42,748 | €32,690 | -€10,058 | -23.5% |
| Financial debts | 170/4 | €42,748 | €32,690 | -€10,058 | -23.5% |
| Amounts payable within one year | 42/48 | €37,553 | €40,911 | +€3,358 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €10,058 | €10,058 | = | 0.0% |
| Trade debts | 44 | €3,275 | €1,528 | -€1,747 | -53.3% |
| Suppliers | 440/4 | €3,275 | €1,528 | -€1,747 | -53.3% |
| Taxes, remuneration and social security | 45 | €24,220 | €26,770 | +€2,550 | +10.5% |
| Taxes | 450/3 | €22,717 | €26,770 | +€4,052 | +17.8% |
| Remuneration and social security | 454/9 | €1,503 | - | -€1,503 | |
| Other amounts payable | 47/48 | - | €2,555 | +€2,555 | |
| Non-recurring operating income | 76A | - | €8,088 | +€8,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,449 | €6,438 | +€1,989 | +44.7% |
| Other operating charges | 640/8 | €3,400 | €964 | -€2,436 | -71.7% |
| Gross operating margin | 9900 | €70,588 | €40,473 | -€30,115 | -42.7% |
| Operating profit (loss) | 9901 | €62,739 | €33,072 | -€29,668 | -47.3% |
| Financial income | 75/76B | €2,450 | €3,222 | +€771 | +31.5% |
| Recurring financial income | 75 | €2,450 | €3,222 | +€771 | +31.5% |
| Financial charges | 65/66B | €3,964 | €2,473 | -€1,491 | -37.6% |
| Recurring financial charges | 65 | €3,964 | €2,473 | -€1,491 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €61,225 | €33,820 | -€27,405 | -44.8% |
| Income taxes | 67/77 | €19,450 | €10,629 | -€8,821 | -45.4% |
| Profit (loss) for the period | 9904 | €41,775 | €23,191 | -€18,584 | -44.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,775 | €23,191 | -€18,584 | -44.5% |
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 30 October 2026 via checked.be.