NEFA CONCEPT: 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.
NEFA CONCEPT
Largest movements
- Receivables within one year +€21,319
up €21,319 (+101.0%), from €21,117 to €42,437
of which Trade receivables: +€21,114
- Deferred charges and accrued income +€9,596
new in 2025: €9,596
- Cash +€8,867
up €8,867 (+45.4%), from €19,548 to €28,416
mainly Net result for the year (+€45,103) and Tax, wage and social debts (+€16,532)
- Tangible fixed assets +€5,570
up €5,570 (+39.6%), from €14,064 to €19,634
of which Plant, machinery and equipment: +€8,591
- Intangible fixed assets +€5,000
up €5,000 (+25.2%), from €19,809 to €24,809
- Profit (loss) carried forward +€38,103
up €38,103 (+133.1%), from €28,635 to €66,739
- Tax, wage and social debts +€16,532
up €16,532 (+100.6%), from €16,432 to €32,964
of which Taxes: +€8,634
- Other debts -€2,499
down €2,499 (-9.2%), from €27,150 to €24,651
- Gross operating margin +€46,547
up €46,547 (+34.5%), from €134,935 to €181,482
- Staff costs +€24,101
up €24,101 (+27.2%), from €88,510 to €112,611
- Taxes +€4,868
up €4,868 (+98.4%), from €4,948 to €9,816
- Other operating charges +€2,484
new in 2025: €2,484
- Depreciation +€1,817
up €1,817 (+19.1%), from €9,508 to €11,325
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 | €75,854 | €129,143 | +€53,289 | +70.3% |
| Fixed assets | 21/28 | €33,873 | €44,443 | +€10,570 | +31.2% |
| Intangible fixed assets | 21 | €19,809 | €24,809 | +€5,000 | +25.2% |
| Tangible fixed assets | 22/27 | €14,064 | €19,634 | +€5,570 | +39.6% |
| Plant, machinery and equipment | 23 | - | €8,591 | +€8,591 | |
| Furniture and vehicles | 24 | €14,064 | €4,740 | -€9,325 | -66.3% |
| Other tangible fixed assets | 26 | - | €6,304 | +€6,304 | |
| Current assets | 29/58 | €41,981 | €84,700 | +€42,719 | +101.8% |
| Stocks and contracts in progress | 3 | €1,315 | €4,252 | +€2,937 | +223.3% |
| Stocks | 30/36 | €1,315 | €4,252 | +€2,937 | +223.3% |
| Amounts receivable within one year | 40/41 | €21,117 | €42,437 | +€21,319 | +101.0% |
| Trade receivables | 40 | €20,323 | €41,438 | +€21,114 | +103.9% |
| Other amounts receivable | 41 | €794 | €999 | +€205 | +25.8% |
| Cash at bank and in hand | 54/58 | €19,548 | €28,416 | +€8,867 | +45.4% |
| Deferred charges and accrued income | 490/1 | - | €9,596 | +€9,596 | |
| Total equity and liabilities | 10/49 | €75,854 | €129,143 | +€53,289 | +70.3% |
| Equity | 10/15 | €30,635 | €68,739 | +€38,103 | +124.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,635 | €66,739 | +€38,103 | +133.1% |
| Amounts payable | 17/49 | €45,219 | €60,404 | +€15,186 | +33.6% |
| Amounts payable within one year | 42/48 | €45,219 | €60,404 | +€15,186 | +33.6% |
| Trade debts | 44 | €1,636 | €2,789 | +€1,153 | +70.5% |
| Suppliers | 440/4 | €1,636 | €2,789 | +€1,153 | +70.5% |
| Taxes, remuneration and social security | 45 | €16,432 | €32,964 | +€16,532 | +100.6% |
| Taxes | 450/3 | €6,291 | €14,926 | +€8,634 | +137.2% |
| Remuneration and social security | 454/9 | €10,141 | €18,039 | +€7,898 | +77.9% |
| Other amounts payable | 47/48 | €27,150 | €24,651 | -€2,499 | -9.2% |
| Remuneration, social security and pensions | 62 | €88,510 | €112,611 | +€24,101 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,508 | €11,325 | +€1,817 | +19.1% |
| Other operating charges | 640/8 | - | €2,484 | +€2,484 | |
| Gross operating margin | 9900 | €134,935 | €181,482 | +€46,547 | +34.5% |
| Operating profit (loss) | 9901 | €36,918 | €55,063 | +€18,145 | +49.2% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €172 | €143 | -€29 | -16.8% |
| Recurring financial charges | 65 | €172 | €143 | -€29 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €36,745 | €54,920 | +€18,174 | +49.5% |
| Income taxes | 67/77 | €4,948 | €9,816 | +€4,868 | +98.4% |
| Profit (loss) for the period | 9904 | €31,797 | €45,103 | +€13,307 | +41.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,797 | €45,103 | +€13,307 | +41.8% |
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 9 October 2026 via checked.be.