NE-RO: 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-RO
Largest movements
- Tangible fixed assets +€13,340
up €13,340, from €0 to €13,340
of which Plant, machinery and equipment: +€10,265
- Receivables within one year +€3,137
new in 2025: €3,137
- Cash +€2,164
new in 2025: €2,164
mainly Other debts (+€29,300) and Trade debts (+€1,502)
- Stocks and contracts +€765
new in 2025: €765
- Other debts +€29,300
up €29,300 (+154%), from €19,012 to €48,312
- Profit (loss) carried forward -€11,396
down €11,396 (-13.4%), from -€84,764 to -€96,160
- Trade debts +€1,502
new in 2025: €1,502
- Depreciation -€69,893
down €69,893 (-99.8%), from €70,027 to €135
- Gross operating margin -€9,976
down €9,976 (-1,002%), from -€995 to -€10,971
- Other operating charges +€279
up €279, from €0 to €279
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 | €0 | €19,406 | +€19,406 | |
| Fixed assets | 21/28 | €0 | €13,340 | +€13,340 | |
| Tangible fixed assets | 22/27 | €0 | €13,340 | +€13,340 | |
| Land and buildings | 22 | €0 | €1,697 | +€1,697 | |
| Plant, machinery and equipment | 23 | €0 | €10,265 | +€10,265 | |
| Furniture and vehicles | 24 | - | €1,378 | +€1,378 | |
| Current assets | 29/58 | - | €6,066 | +€6,066 | |
| Stocks and contracts in progress | 3 | - | €765 | +€765 | |
| Stocks | 30/36 | - | €765 | +€765 | |
| Amounts receivable within one year | 40/41 | - | €3,137 | +€3,137 | |
| Other amounts receivable | 41 | - | €3,137 | +€3,137 | |
| Cash at bank and in hand | 54/58 | - | €2,164 | +€2,164 | |
| Total equity and liabilities | 10/49 | €0 | €19,406 | +€19,406 | |
| Equity | 10/15 | -€19,012 | -€30,408 | -€11,396 | -59.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €47,152 | €47,152 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €45,292 | €45,292 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€84,764 | -€96,160 | -€11,396 | -13.4% |
| Amounts payable | 17/49 | €19,012 | €49,814 | +€30,802 | +162% |
| Amounts payable within one year | 42/48 | €19,012 | €49,814 | +€30,802 | +162% |
| Trade debts | 44 | - | €1,502 | +€1,502 | |
| Suppliers | 440/4 | - | €1,502 | +€1,502 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €19,012 | €48,312 | +€29,300 | +154% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,027 | €135 | -€69,893 | -99.8% |
| Other operating charges | 640/8 | €0 | €279 | +€279 | |
| Gross operating margin | 9900 | -€995 | -€10,971 | -€9,976 | -1,002% |
| Operating profit (loss) | 9901 | -€71,022 | -€11,384 | +€59,638 | +84.0% |
| Financial charges | 65/66B | €0 | €12 | +€12 | |
| Recurring financial charges | 65 | €0 | €12 | +€12 | |
| Profit (loss) for the period before taxes | 9903 | -€71,022 | -€11,396 | +€59,626 | +84.0% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€71,022 | -€11,396 | +€59,626 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€71,022 | -€11,396 | +€59,626 | +84.0% |
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 13 October 2026 via checked.be.