NEELAM: 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.
NEELAM
Largest movements
- Stocks and contracts +€46,400
up €46,400 (+50.2%), from €92,492 to €138,892
- Cash -€34,912
down €34,912 (-76.8%), from €45,453 to €10,541
mainly Stocks and contracts (-€46,400) and Tax, wage and social debts (-€22,225)
- Receivables within one year +€10,876
up €10,876 (+19.0%), from €57,223 to €68,099
of which Trade receivables: +€10,000
- Trade debts +€30,728
up €30,728 (+121%), from €25,317 to €56,045
- Tax, wage and social debts -€22,225
down €22,225 (-21.1%), from €105,241 to €83,016
of which Remuneration and social security: -€26,373
- Reserves +€13,542
up €13,542 (+25.0%), from €54,065 to €67,607
of which Distributable reserves: +€13,542
- Gross operating margin +€18,938
up €18,938 (+21.2%), from €89,471 to €108,409
- Staff costs +€15,323
up €15,323 (+22.7%), from €67,370 to €82,694
- Other operating charges +€1,864
up €1,864 (+86.4%), from €2,156 to €4,020
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 | €203,223 | €225,268 | +€22,045 | +10.8% |
| Fixed assets | 21/28 | €5,886 | €6,298 | +€412 | +7.0% |
| Tangible fixed assets | 22/27 | €899 | €1,311 | +€412 | +45.8% |
| Furniture and vehicles | 24 | €899 | €1,311 | +€412 | +45.8% |
| Financial fixed assets | 28 | €4,986 | €4,986 | = | 0.0% |
| Current assets | 29/58 | €197,337 | €218,970 | +€21,633 | +11.0% |
| Stocks and contracts in progress | 3 | €92,492 | €138,892 | +€46,400 | +50.2% |
| Stocks | 30/36 | €92,492 | €138,892 | +€46,400 | +50.2% |
| Amounts receivable within one year | 40/41 | €57,223 | €68,099 | +€10,876 | +19.0% |
| Trade receivables | 40 | €42,350 | €52,350 | +€10,000 | +23.6% |
| Other amounts receivable | 41 | €14,873 | €15,749 | +€876 | +5.9% |
| Cash at bank and in hand | 54/58 | €45,453 | €10,541 | -€34,912 | -76.8% |
| Deferred charges and accrued income | 490/1 | €2,170 | €1,439 | -€731 | -33.7% |
| Total equity and liabilities | 10/49 | €203,223 | €225,268 | +€22,045 | +10.8% |
| Equity | 10/15 | €72,665 | €86,207 | +€13,542 | +18.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,065 | €67,607 | +€13,542 | +25.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,894 | €2,894 | = | 0.0% |
| Distributable reserves | 133 | €49,311 | €62,853 | +€13,542 | +27.5% |
| Amounts payable | 17/49 | €130,558 | €139,061 | +€8,503 | +6.5% |
| Amounts payable within one year | 42/48 | €130,558 | €139,061 | +€8,503 | +6.5% |
| Trade debts | 44 | €25,317 | €56,045 | +€30,728 | +121% |
| Suppliers | 440/4 | €25,317 | €56,045 | +€30,728 | +121% |
| Taxes, remuneration and social security | 45 | €105,241 | €83,016 | -€22,225 | -21.1% |
| Taxes | 450/3 | €19,867 | €24,016 | +€4,149 | +20.9% |
| Remuneration and social security | 454/9 | €85,374 | €59,001 | -€26,373 | -30.9% |
| Remuneration, social security and pensions | 62 | €67,370 | €82,694 | +€15,323 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,216 | €1,017 | -€199 | -16.4% |
| Other operating charges | 640/8 | €2,156 | €4,020 | +€1,864 | +86.4% |
| Gross operating margin | 9900 | €89,471 | €108,409 | +€18,938 | +21.2% |
| Operating profit (loss) | 9901 | €18,728 | €20,678 | +€1,950 | +10.4% |
| Financial income | 75/76B | €368 | €331 | -€37 | -9.9% |
| Recurring financial income | 75 | €368 | €331 | -€37 | -9.9% |
| Financial charges | 65/66B | €688 | €994 | +€306 | +44.5% |
| Recurring financial charges | 65 | €688 | €994 | +€306 | +44.5% |
| Profit (loss) for the period before taxes | 9903 | €18,408 | €20,015 | +€1,607 | +8.7% |
| Income taxes | 67/77 | €5,900 | €6,474 | +€574 | +9.7% |
| Profit (loss) for the period | 9904 | €12,508 | €13,542 | +€1,033 | +8.3% |
| Profit (loss) for the period to be appropriated | 9905 | €12,508 | €13,542 | +€1,033 | +8.3% |
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 17 October 2026 via checked.be.