NEFEKA: 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.
NEFEKA
Largest movements
- Cash +€96,195
up €96,195 (+21.9%), from €438,787 to €534,982
mainly Net result for the year (+€109,800) and Trade debts (+€37,227)
- Reserves +€66,000
up €66,000 (+18.8%), from €351,289 to €417,289
of which Distributable reserves: +€66,000
- Trade debts +€37,227
new in 2025: €37,227
- Other debts -€7,000
down €7,000 (-13.8%), from €50,804 to €43,804
- Turnover +€24,385
up €24,385 (+14.2%), from €171,400 to €195,785
- Gross operating margin +€22,010
up €22,010 (+18.6%), from €118,407 to €140,417
- Taxes -€11,803
down €11,803 (-24.7%), from €47,830 to €36,027
- Financial income -€2,687
down €2,687 (-31.5%), from €8,539 to €5,852
of which Financial income: -€2,687
- Purchases and services +€2,375
up €2,375 (+4.5%), from €52,993 to €55,368
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 | €441,540 | €537,768 | +€96,227 | +21.8% |
| Current assets | 29/58 | €441,540 | €537,768 | +€96,227 | +21.8% |
| Amounts receivable within one year | 40/41 | €2,753 | €2,786 | +€33 | +1.2% |
| Other amounts receivable | 41 | €2,753 | €2,786 | +€33 | +1.2% |
| Cash at bank and in hand | 54/58 | €438,787 | €534,982 | +€96,195 | +21.9% |
| Total equity and liabilities | 10/49 | €441,540 | €537,768 | +€96,227 | +21.8% |
| Equity | 10/15 | €390,736 | €456,736 | +€66,000 | +16.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | - | -€1,000 | |
| Issued capital | 100 | €1,000 | - | -€1,000 | |
| Reserves | 13 | €351,289 | €417,289 | +€66,000 | +18.8% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Legal reserve | 130 | €1,900 | - | -€1,900 | |
| Reserves not available under the articles | 1311 | - | €1,900 | +€1,900 | |
| Distributable reserves | 133 | €349,389 | €415,389 | +€66,000 | +18.9% |
| Profit (loss) carried forward | 14 | €38,447 | €38,447 | = | 0.0% |
| Amounts payable | 17/49 | €50,804 | €81,031 | +€30,227 | +59.5% |
| Amounts payable within one year | 42/48 | €50,804 | €81,031 | +€30,227 | +59.5% |
| Trade debts | 44 | - | €37,227 | +€37,227 | |
| Suppliers | 440/4 | - | €37,227 | +€37,227 | |
| Other amounts payable | 47/48 | €50,804 | €43,804 | -€7,000 | -13.8% |
| Turnover | 70 | €171,400 | €195,785 | +€24,385 | +14.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €52,993 | €55,368 | +€2,375 | +4.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €118,407 | €140,417 | +€22,010 | +18.6% |
| Operating profit (loss) | 9901 | €118,020 | €140,018 | +€21,998 | +18.6% |
| Financial income | 75/76B | €8,539 | €5,852 | -€2,687 | -31.5% |
| Recurring financial income | 75 | €8,539 | €5,852 | -€2,687 | -31.5% |
| Non-recurring financial income | 76B | €8,539 | €5,852 | -€2,687 | -31.5% |
| Financial charges | 65/66B | €39 | €42 | +€3 | +6.8% |
| Recurring financial charges | 65 | €39 | €42 | +€3 | +6.8% |
| Profit (loss) for the period before taxes | 9903 | €126,519 | €145,827 | +€19,308 | +15.3% |
| Income taxes | 67/77 | €47,830 | €36,027 | -€11,803 | -24.7% |
| Profit (loss) for the period | 9904 | €78,689 | €109,800 | +€31,111 | +39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €78,689 | €109,800 | +€31,111 | +39.5% |
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 23 October 2026 via checked.be.