NEF Belgium: 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.
NEF Belgium
Largest movements
- Receivables within one year +€1.6m
up €1.6m (+55.9%), from €2.9m to €4.5m
of which Trade receivables: +€920,034
- Cash -€792,823
down €792,823 (-96.3%), from €823,511 to €30,688
mainly Receivables within one year (-€1.6m) and Debts within one year (-€469,108)
- Receivables after one year -€463,990
no longer reported in 2025 (was €463,990)
- Financial fixed assets -€301,451
down €301,451 (-15.3%), from €2.0m to €1.7m
- Profit (loss) carried forward +€664,121
up €664,121 (+28.7%), from €2.3m to €3.0m
- Debts within one year -€469,108
down €469,108 (-19.0%), from €2.5m to €2.0m
- Accrued charges and deferred income -€116,130
down €116,130 (-8.6%), from €1.4m to €1.2m
- Financial income +€2.2m
new in 2025: €2.2m
- Gross operating margin -€2.0m
down €2.0m, from €815,812 to -€1.2m
- Financial charges -€197,241
down €197,241 (-43.0%), from €458,927 to €261,686
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 | €6,130,778 | €6,209,661 | +€78,883 | +1.3% |
| Fixed assets | 21/28 | €1,966,940 | €1,665,489 | -€301,451 | -15.3% |
| Financial fixed assets | 28 | €1,966,940 | €1,665,489 | -€301,451 | -15.3% |
| Current assets | 29/58 | €4,163,838 | €4,544,172 | +€380,334 | +9.1% |
| Amounts receivable after more than one year | 29 | €463,990 | - | -€463,990 | |
| Other amounts receivable | 291 | €463,990 | - | -€463,990 | |
| Amounts receivable within one year | 40/41 | €2,871,967 | €4,478,282 | +€1.6m | +55.9% |
| Trade receivables | 40 | €400,481 | €1,320,515 | +€920,034 | +230% |
| Other amounts receivable | 41 | €2,471,486 | €3,157,766 | +€686,281 | +27.8% |
| Cash at bank and in hand | 54/58 | €823,511 | €30,688 | -€792,823 | -96.3% |
| Deferred charges and accrued income | 490/1 | €4,370 | €35,202 | +€30,833 | +706% |
| Total equity and liabilities | 10/49 | €6,130,778 | €6,209,661 | +€78,883 | +1.3% |
| Equity | 10/15 | €2,311,005 | €2,975,126 | +€664,121 | +28.7% |
| Profit (loss) carried forward | 14 | €2,311,005 | €2,975,126 | +€664,121 | +28.7% |
| Amounts payable | 17/49 | €3,819,774 | €3,234,536 | -€585,238 | -15.3% |
| Amounts payable within one year | 42/48 | €2,463,141 | €1,994,033 | -€469,108 | -19.0% |
| Financial debts | 43 | €3,382 | €0 | -€3,381 | -100.0% |
| Credit institutions | 430/8 | €3,382 | €0 | -€3,381 | -100.0% |
| Trade debts | 44 | €144,472 | €142,843 | -€1,629 | -1.1% |
| Suppliers | 440/4 | €144,472 | €142,843 | -€1,629 | -1.1% |
| Taxes, remuneration and social security | 45 | €39,611 | €38,387 | -€1,224 | -3.1% |
| Taxes | 450/3 | €32,565 | €29,031 | -€3,534 | -10.9% |
| Remuneration and social security | 454/9 | €7,046 | €9,356 | +€2,311 | +32.8% |
| Accrued charges and deferred income | 492/3 | €1,356,633 | €1,240,503 | -€116,130 | -8.6% |
| Other operating charges | 640/8 | - | €4,658 | +€4,658 | |
| Non-recurring operating charges | 66A | - | €73,760 | +€73,760 | |
| Gross operating margin | 9900 | €815,812 | -€1,161,461 | -€2.0m | |
| Operating profit (loss) | 9901 | €815,812 | -€1,239,879 | -€2.1m | |
| Financial income | 75/76B | - | €2,197,144 | +€2.2m | |
| Recurring financial income | 75 | - | €2,197,144 | +€2.2m | |
| Financial charges | 65/66B | €458,927 | €261,686 | -€197,241 | -43.0% |
| Recurring financial charges | 65 | €458,927 | €261,686 | -€197,241 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €356,885 | €695,579 | +€338,694 | +94.9% |
| Profit (loss) for the period | 9904 | €356,885 | €695,579 | +€338,694 | +94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €356,885 | €695,579 | +€338,694 | +94.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.