NEFIMA: 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.
NEFIMA
Largest movements
- Tangible fixed assets -€32,566
down €32,566 (-2.2%), from €1.5m to €1.5m
of which Land and buildings: -€27,596
- Profit (loss) carried forward -€74,150
down €74,150 (-7.2%), from -€1.0m to -€1.1m
- Other debts +€33,171
up €33,171 (+11.9%), from €278,651 to €311,822
- Financial charges -€10,706
down €10,706 (-20.3%), from €52,653 to €41,948
- Gross operating margin +€1,935
up €1,935 (+3.6%), from €53,577 to €55,512
- Depreciation +€1,713
up €1,713 (+2.3%), from €74,540 to €76,253
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 | €1,528,462 | €1,486,765 | -€41,697 | -2.7% |
| Fixed assets | 21/28 | €1,509,579 | €1,477,013 | -€32,566 | -2.2% |
| Tangible fixed assets | 22/27 | €1,509,579 | €1,477,013 | -€32,566 | -2.2% |
| Land and buildings | 22 | €1,501,141 | €1,473,545 | -€27,596 | -1.8% |
| Plant, machinery and equipment | 23 | €8,438 | €3,468 | -€4,970 | -58.9% |
| Current assets | 29/58 | €18,883 | €9,752 | -€9,131 | -48.4% |
| Amounts receivable within one year | 40/41 | €4,943 | €7,061 | +€2,117 | +42.8% |
| Trade receivables | 40 | €4,736 | €7,061 | +€2,325 | +49.1% |
| Other amounts receivable | 41 | €208 | €0 | -€208 | -100.0% |
| Cash at bank and in hand | 54/58 | €13,940 | €2,692 | -€11,248 | -80.7% |
| Total equity and liabilities | 10/49 | €1,528,462 | €1,486,765 | -€41,697 | -2.7% |
| Equity | 10/15 | €231,417 | €157,267 | -€74,150 | -32.0% |
| Contributions | 10/11 | €1,010,000 | €1,010,000 | = | 0.0% |
| Revaluation surpluses | 12 | €246,590 | €246,590 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,027,031 | -€1,101,182 | -€74,150 | -7.2% |
| Amounts payable | 17/49 | €1,297,045 | €1,329,498 | +€32,454 | +2.5% |
| Amounts payable after more than one year | 17 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial debts | 170/4 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €297,045 | €329,498 | +€32,454 | +10.9% |
| Trade debts | 44 | €10,004 | €9,074 | -€930 | -9.3% |
| Suppliers | 440/4 | €10,004 | €9,074 | -€930 | -9.3% |
| Taxes, remuneration and social security | 45 | €8,390 | €8,602 | +€213 | +2.5% |
| Taxes | 450/3 | €5,918 | €6,119 | +€201 | +3.4% |
| Remuneration and social security | 454/9 | €2,472 | €2,483 | +€11 | +0.5% |
| Other amounts payable | 47/48 | €278,651 | €311,822 | +€33,171 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,540 | €76,253 | +€1,713 | +2.3% |
| Other operating charges | 640/8 | €10,655 | €10,888 | +€233 | +2.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €53,577 | €55,512 | +€1,935 | +3.6% |
| Operating profit (loss) | 9901 | -€31,618 | -€31,629 | -€11 | 0.0% |
| Financial charges | 65/66B | €52,653 | €41,948 | -€10,706 | -20.3% |
| Recurring financial charges | 65 | €52,653 | €41,948 | -€10,706 | -20.3% |
| Profit (loss) for the period before taxes | 9903 | -€84,272 | -€73,577 | +€10,695 | +12.7% |
| Income taxes | 67/77 | €458 | €574 | +€115 | +25.1% |
| Profit (loss) for the period | 9904 | -€84,730 | -€74,150 | +€10,580 | +12.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,730 | -€74,150 | +€10,580 | +12.5% |
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 2 October 2026 via checked.be.