NECODEM: 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.
NECODEM
Largest movements
- Receivables within one year +€51,644
up €51,644 (+32.9%), from €157,038 to €208,681
of which Other amounts receivable: +€64,746
- Deferred charges and accrued income +€40,795
up €40,795 (+164562.4%), from €25 to €40,820
- Tax, wage and social debts +€56,375
up €56,375 (+81.3%), from €69,339 to €125,714
of which Remuneration and social security: +€36,098
- Trade debts +€16,221
up €16,221 (+78.7%), from €20,606 to €36,827
- Other debts +€15,239
new in 2025: €15,239
- Advances received +€3,101
up €3,101 (+155.0%), from €2,000 to €5,101
- Staff costs +€197,859
up €197,859 (+212.2%), from €93,250 to €291,109
- Gross operating margin +€116,069
up €116,069 (+58.6%), from €197,942 to €314,010
- Taxes -€20,750
down €20,750 (-89.7%), from €23,144 to €2,394
- Financial charges +€3,803
up €3,803 (+88.8%), from €4,281 to €8,084
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 | €176,634 | €268,527 | +€91,893 | +52.0% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €6,454 | €6,453 | -€1 | 0.0% |
| Tangible fixed assets | 22/27 | €6,454 | €5,253 | -€1,201 | -18.6% |
| Plant, machinery and equipment | 23 | - | €1,250 | +€1,250 | |
| Furniture and vehicles | 24 | €6,454 | €4,003 | -€2,451 | -38.0% |
| Financial fixed assets | 28 | - | €1,200 | +€1,200 | |
| Current assets | 29/58 | €170,180 | €262,074 | +€91,894 | +54.0% |
| Amounts receivable within one year | 40/41 | €157,038 | €208,681 | +€51,644 | +32.9% |
| Trade receivables | 40 | €95,716 | €82,613 | -€13,103 | -13.7% |
| Other amounts receivable | 41 | €61,322 | €126,068 | +€64,746 | +105.6% |
| Cash at bank and in hand | 54/58 | €13,118 | €12,573 | -€545 | -4.2% |
| Deferred charges and accrued income | 490/1 | €25 | €40,820 | +€40,795 | +164562.4% |
| Total equity and liabilities | 10/49 | €176,634 | €268,527 | +€91,893 | +52.0% |
| Equity | 10/15 | €83,489 | €85,192 | +€1,703 | +2.0% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,489 | €77,192 | +€1,703 | +2.3% |
| Amounts payable | 17/49 | €93,144 | €183,334 | +€90,190 | +96.8% |
| Amounts payable within one year | 42/48 | €91,944 | €182,880 | +€90,936 | +98.9% |
| Trade debts | 44 | €20,606 | €36,827 | +€16,221 | +78.7% |
| Suppliers | 440/4 | €20,606 | €36,827 | +€16,221 | +78.7% |
| Advances received on contracts in progress | 46 | €2,000 | €5,101 | +€3,101 | +155.0% |
| Taxes, remuneration and social security | 45 | €69,339 | €125,714 | +€56,375 | +81.3% |
| Taxes | 450/3 | €50,831 | €71,108 | +€20,277 | +39.9% |
| Remuneration and social security | 454/9 | €18,507 | €54,605 | +€36,098 | +195.0% |
| Other amounts payable | 47/48 | - | €15,239 | +€15,239 | |
| Accrued charges and deferred income | 492/3 | €1,200 | €455 | -€746 | -62.1% |
| Remuneration, social security and pensions | 62 | €93,250 | €291,109 | +€197,859 | +212.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,805 | €4,605 | -€200 | -4.2% |
| Other operating charges | 640/8 | €4,513 | €7,567 | +€3,054 | +67.7% |
| Gross operating margin | 9900 | €197,942 | €314,010 | +€116,069 | +58.6% |
| Operating profit (loss) | 9901 | €95,373 | €10,729 | -€84,643 | -88.7% |
| Financial income | 75/76B | €317 | €1,452 | +€1,135 | +358.7% |
| Recurring financial income | 75 | €317 | €1,452 | +€1,135 | +358.7% |
| Financial charges | 65/66B | €4,281 | €8,084 | +€3,803 | +88.8% |
| Recurring financial charges | 65 | €4,281 | €8,084 | +€3,803 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | €91,408 | €4,097 | -€87,311 | -95.5% |
| Income taxes | 67/77 | €23,144 | €2,394 | -€20,750 | -89.7% |
| Profit (loss) for the period | 9904 | €68,264 | €1,703 | -€66,561 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €68,264 | €1,703 | -€66,561 | -97.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.