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NECON: 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.

What changed

NECON

BE 0449.805.034
NACE 66.220, Insurance agents and brokers
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,840
2024 · €16,844-€7,004
Equity
€180,923
2024 · €171,084+€9,840
Cash
€10,510
2024 · -+€10,510
Balance sheet total
€837,628
2024 · €897,649-€60,021

Largest movements

2024 to 2025
Assets
  • Intangible fixed assets -€56,800

    down €56,800 (-16.5%), from €343,267 to €286,467

  • Receivables within one year -€34,584

    no longer reported in 2025 (was €34,584)

    of which Trade receivables: -€29,519

  • Tangible fixed assets +€20,556

    up €20,556 (+5.0%), from €413,375 to €433,932

    of which Furniture and vehicles: +€26,847

  • Cash +€10,510

    new in 2025: €10,510

    mainly Depreciation (+€84,700) and Receivables within one year (+€34,584)

Equity and liabilities
  • Debts after one year -€37,110

    down €37,110 (-7.4%), from €501,265 to €464,155

  • Trade debts -€37,101

    down €37,101 (-56.1%), from €66,085 to €28,984

  • Current portion of long-term debt +€20,236

    up €20,236 (+24.2%), from €83,636 to €103,872

  • Short-term financial debts -€13,273

    no longer reported in 2025 (was €13,273)

  • Reserves +€9,840

    up €9,840 (+6.3%), from €154,958 to €164,798

    of which Distributable reserves: +€9,840

Income statement
  • Gross operating margin +€29,792

    up €29,792 (+7.4%), from €402,476 to €432,268

  • Depreciation +€18,121

    up €18,121 (+27.2%), from €66,579 to €84,700

  • Financial charges +€10,135

    up €10,135 (+34.0%), from €29,788 to €39,923

  • Other operating charges +€7,143

    up €7,143 (+380%), from €1,881 to €9,024

  • Staff costs +€5,745

    up €5,745 (+2.1%), from €272,923 to €278,668

From the 2024 result to the 2025 result

effect on the 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.

Result 2024 €16,844
Gross operating margin +€29,792
Staff costs -€5,745
Depreciation -€18,121
Other operating charges -€7,143
Financial income +€181
Financial charges -€10,135
Taxes +€4,167
Result 2025 €9,840
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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.

From operations +€89,113
Investment -€48,457
Financing -€30,146
Cash 2024 €0
Net result for the year +€9,840
Depreciation +€84,700
Receivables within one year +€34,584
Deferred charges and accrued income -€297
Trade debts -€37,101
Tax, wage and social debts -€8,599
Other debts +€5,985
Investment in fixed assets (net) -€48,457
Debts after one year -€37,110
Current portion of long-term debt +€20,236
Short-term financial debts -€13,273
Cash 2025 €10,510
brings cash intakes cash out
Every line side by side 50 lines
Line Code 2024 2025 Change %
Total assets 20/58 €897,649 €837,628 -€60,021 -6.7%
Fixed assets 21/28 €861,961 €825,718 -€36,244 -4.2%
Intangible fixed assets 21 €343,267 €286,467 -€56,800 -16.5%
Tangible fixed assets 22/27 €413,375 €433,932 +€20,556 +5.0%
Land and buildings 22 €384,212 €371,871 -€12,341 -3.2%
Furniture and vehicles 24 €22,640 €49,487 +€26,847 +119%
Other tangible fixed assets 26 €6,523 €12,574 +€6,050 +92.7%
Financial fixed assets 28 €105,319 €105,319 = 0.0%
Current assets 29/58 €35,688 €11,910 -€23,777 -66.6%
Amounts receivable within one year 40/41 €34,584 - -€34,584
Trade receivables 40 €29,519 - -€29,519
Other amounts receivable 41 €5,065 - -€5,065
Cash at bank and in hand 54/58 - €10,510 +€10,510
Deferred charges and accrued income 490/1 €1,104 €1,401 +€297 +26.9%
Total equity and liabilities 10/49 €897,649 €837,628 -€60,021 -6.7%
Equity 10/15 €171,084 €180,923 +€9,840 +5.8%
Contributions 10/11 €16,126 €16,126 = 0.0%
Capital 10 €16,126 €16,126 = 0.0%
Issued capital 100 €18,592 €18,592 = 0.0%
Uncalled capital 101 €2,466 €2,466 = 0.0%
Reserves 13 €154,958 €164,798 +€9,840 +6.3%
Non-distributable reserves 130/1 €1,859 €1,859 = 0.0%
Legal reserve 130 €1,859 €1,859 = 0.0%
Distributable reserves 133 €153,099 €162,939 +€9,840 +6.4%
Amounts payable 17/49 €726,565 €656,704 -€69,861 -9.6%
Amounts payable after more than one year 17 €501,265 €464,155 -€37,110 -7.4%
Financial debts 170/4 €501,265 €464,155 -€37,110 -7.4%
Amounts payable within one year 42/48 €225,300 €192,550 -€32,750 -14.5%
Current portion of amounts payable after more than one year 42 €83,636 €103,872 +€20,236 +24.2%
Financial debts 43 €13,273 - -€13,273
Credit institutions 430/8 €13,273 - -€13,273
Trade debts 44 €66,085 €28,984 -€37,101 -56.1%
Suppliers 440/4 €66,085 €28,984 -€37,101 -56.1%
Taxes, remuneration and social security 45 €62,307 €53,708 -€8,599 -13.8%
Taxes 450/3 €15,074 €20,744 +€5,670 +37.6%
Remuneration and social security 454/9 €47,232 €32,964 -€14,269 -30.2%
Other amounts payable 47/48 - €5,985 +€5,985
Remuneration, social security and pensions 62 €272,923 €278,668 +€5,745 +2.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €66,579 €84,700 +€18,121 +27.2%
Other operating charges 640/8 €1,881 €9,024 +€7,143 +380%
Gross operating margin 9900 €402,476 €432,268 +€29,792 +7.4%
Operating profit (loss) 9901 €61,092 €59,875 -€1,217 -2.0%
Financial income 75/76B €377 €558 +€181 +48.0%
Recurring financial income 75 €377 €558 +€181 +48.0%
Financial charges 65/66B €29,788 €39,923 +€10,135 +34.0%
Recurring financial charges 65 €29,788 €39,923 +€10,135 +34.0%
Profit (loss) for the period before taxes 9903 €31,681 €20,510 -€11,171 -35.3%
Income taxes 67/77 €14,837 €10,670 -€4,167 -28.1%
Profit (loss) for the period 9904 €16,844 €9,840 -€7,004 -41.6%
Profit (loss) for the period to be appropriated 9905 €16,844 €9,840 -€7,004 -41.6%

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 27 October 2026 via checked.be.