NEDWORK: 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.
NEDWORK
Largest movements
- Deferred charges and accrued income +€37,331
up €37,331 (+814.2%), from €4,585 to €41,916
- Receivables within one year -€16,980
down €16,980 (-47.5%), from €35,729 to €18,749
of which Trade receivables: -€26,980
- Cash +€12,272
up €12,272 (+5.0%), from €246,192 to €258,464
mainly Net result for the year (+€36,648) and Depreciation (+€28,825)
- Profit (loss) carried forward +€36,648
up €36,648 (+44.1%), from €83,057 to €119,705
- Other debts +€14,607
up €14,607 (+7.2%), from €202,944 to €217,551
- Gross operating margin -€34,614
down €34,614 (-28.8%), from €120,157 to €85,543
- Depreciation -€6,627
down €6,627 (-18.7%), from €35,452 to €28,825
- Taxes -€3,288
down €3,288 (-25.1%), from €13,122 to €9,834
- Financial charges +€2,770
up €2,770 (+51.7%), from €5,353 to €8,123
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 | €672,653 | €704,479 | +€31,826 | +4.7% |
| Fixed assets | 21/28 | €386,147 | €385,350 | -€797 | -0.2% |
| Tangible fixed assets | 22/27 | €386,147 | €385,350 | -€797 | -0.2% |
| Land and buildings | 22 | €345,798 | €358,234 | +€12,436 | +3.6% |
| Plant, machinery and equipment | 23 | €19,069 | €18,988 | -€81 | -0.4% |
| Furniture and vehicles | 24 | €18,749 | €6,230 | -€12,519 | -66.8% |
| Other tangible fixed assets | 26 | €2,531 | €1,898 | -€633 | -25.0% |
| Current assets | 29/58 | €286,506 | €319,129 | +€32,623 | +11.4% |
| Amounts receivable within one year | 40/41 | €35,729 | €18,749 | -€16,980 | -47.5% |
| Trade receivables | 40 | €35,687 | €8,707 | -€26,980 | -75.6% |
| Other amounts receivable | 41 | €42 | €10,042 | +€10,000 | +23809.5% |
| Cash at bank and in hand | 54/58 | €246,192 | €258,464 | +€12,272 | +5.0% |
| Deferred charges and accrued income | 490/1 | €4,585 | €41,916 | +€37,331 | +814.2% |
| Total equity and liabilities | 10/49 | €672,653 | €704,479 | +€31,826 | +4.7% |
| Equity | 10/15 | €155,017 | €191,665 | +€36,648 | +23.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,360 | €53,360 | = | 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 | €51,500 | €51,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €83,057 | €119,705 | +€36,648 | +44.1% |
| Amounts payable | 17/49 | €517,636 | €512,814 | -€4,822 | -0.9% |
| Amounts payable after more than one year | 17 | €258,613 | €251,598 | -€7,015 | -2.7% |
| Financial debts | 170/4 | €258,613 | €251,598 | -€7,015 | -2.7% |
| Amounts payable within one year | 42/48 | €259,023 | €261,216 | +€2,193 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €23,670 | €19,843 | -€3,827 | -16.2% |
| Trade debts | 44 | €8,236 | €5,547 | -€2,689 | -32.6% |
| Suppliers | 440/4 | €8,236 | €5,547 | -€2,689 | -32.6% |
| Taxes, remuneration and social security | 45 | €24,173 | €18,275 | -€5,898 | -24.4% |
| Taxes | 450/3 | €18,173 | €12,275 | -€5,898 | -32.5% |
| Remuneration and social security | 454/9 | €6,000 | €6,000 | = | 0.0% |
| Other amounts payable | 47/48 | €202,944 | €217,551 | +€14,607 | +7.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,452 | €28,825 | -€6,627 | -18.7% |
| Other operating charges | 640/8 | €1,517 | €2,113 | +€596 | +39.3% |
| Non-recurring operating charges | 66A | €598 | - | -€598 | |
| Gross operating margin | 9900 | €120,157 | €85,543 | -€34,614 | -28.8% |
| Operating profit (loss) | 9901 | €82,590 | €54,605 | -€27,985 | -33.9% |
| Financial income | 75/76B | €130 | - | -€130 | |
| Recurring financial income | 75 | €130 | - | -€130 | |
| Financial charges | 65/66B | €5,353 | €8,123 | +€2,770 | +51.7% |
| Recurring financial charges | 65 | €5,353 | €8,123 | +€2,770 | +51.7% |
| Profit (loss) for the period before taxes | 9903 | €77,367 | €46,482 | -€30,885 | -39.9% |
| Income taxes | 67/77 | €13,122 | €9,834 | -€3,288 | -25.1% |
| Profit (loss) for the period | 9904 | €64,245 | €36,648 | -€27,597 | -43.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,245 | €36,648 | -€27,597 | -43.0% |
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 8 October 2026 via checked.be.