NEFIS: 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.
NEFIS
Largest movements
- Tangible fixed assets -€96,837
down €96,837 (-7.1%), from €1.4m to €1.3m
- Receivables within one year -€87,015
down €87,015 (-22.1%), from €393,628 to €306,614
of which Trade receivables: -€89,570
- Cash +€32,154
up €32,154 (+115.2%), from €27,915 to €60,069
mainly Depreciation (+€96,837) and Receivables within one year (+€87,015)
- Debts after one year -€79,810
down €79,810 (-6.4%), from €1.3m to €1.2m
of which Financial debts: -€79,810
- Trade debts -€72,794
down €72,794 (-23.3%), from €312,722 to €239,928
- Tax, wage and social debts -€17,942
down €17,942 (-71.8%), from €24,978 to €7,036
- Gross operating margin -€59,630
down €59,630 (-16.8%), from €354,427 to €294,797
- Turnover -€52,041
down €52,041 (-14.4%), from €361,035 to €308,994
- Financial charges -€26,748
down €26,748 (-19.2%), from €139,517 to €112,769
- Taxes -€8,431
down €8,431 (-52.1%), from €16,192 to €7,762
- Purchases and services +€7,589
up €7,589 (+114.9%), from €6,608 to €14,197
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 | €1,780,109 | €1,628,410 | -€151,698 | -8.5% |
| Fixed assets | 21/28 | €1,358,565 | €1,261,728 | -€96,837 | -7.1% |
| Tangible fixed assets | 22/27 | €1,358,565 | €1,261,728 | -€96,837 | -7.1% |
| Land and buildings | 22 | €1,358,565 | €1,261,728 | -€96,837 | -7.1% |
| Current assets | 29/58 | €421,543 | €366,682 | -€54,861 | -13.0% |
| Amounts receivable within one year | 40/41 | €393,628 | €306,614 | -€87,015 | -22.1% |
| Trade receivables | 40 | €366,711 | €277,142 | -€89,570 | -24.4% |
| Other amounts receivable | 41 | €26,917 | €29,472 | +€2,555 | +9.5% |
| Cash at bank and in hand | 54/58 | €27,915 | €60,069 | +€32,154 | +115.2% |
| Total equity and liabilities | 10/49 | €1,780,109 | €1,628,410 | -€151,698 | -8.5% |
| Equity | 10/15 | €114,814 | €130,888 | +€16,073 | +14.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,933 | €8,125 | +€1,192 | +17.2% |
| Non-distributable reserves | 130/1 | €6,933 | €8,125 | +€1,192 | +17.2% |
| Legal reserve | 130 | €6,933 | €8,125 | +€1,192 | +17.2% |
| Profit (loss) carried forward | 14 | €95,481 | €110,362 | +€14,882 | +15.6% |
| Amounts payable | 17/49 | €1,665,294 | €1,497,523 | -€167,772 | -10.1% |
| Amounts payable after more than one year | 17 | €1,250,558 | €1,170,749 | -€79,810 | -6.4% |
| Financial debts | 170/4 | €1,249,558 | €1,169,749 | -€79,810 | -6.4% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €414,736 | €326,774 | -€87,962 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €77,036 | €79,810 | +€2,774 | +3.6% |
| Trade debts | 44 | €312,722 | €239,928 | -€72,794 | -23.3% |
| Suppliers | 440/4 | €312,722 | €239,928 | -€72,794 | -23.3% |
| Taxes, remuneration and social security | 45 | €24,978 | €7,036 | -€17,942 | -71.8% |
| Taxes | 450/3 | €24,978 | €7,036 | -€17,942 | -71.8% |
| Turnover | 70 | €361,035 | €308,994 | -€52,041 | -14.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,608 | €14,197 | +€7,589 | +114.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,837 | €96,837 | = | 0.0% |
| Other operating charges | 640/8 | €62,422 | €62,911 | +€489 | +0.8% |
| Gross operating margin | 9900 | €354,427 | €294,797 | -€59,630 | -16.8% |
| Operating profit (loss) | 9901 | €195,168 | €135,049 | -€60,119 | -30.8% |
| Financial income | 75/76B | €88 | €1,555 | +€1,467 | +1670.2% |
| Recurring financial income | 75 | €88 | €1,555 | +€1,467 | +1670.2% |
| Financial charges | 65/66B | €139,517 | €112,769 | -€26,748 | -19.2% |
| Recurring financial charges | 65 | €139,517 | €112,769 | -€26,748 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €55,739 | €23,835 | -€31,904 | -57.2% |
| Income taxes | 67/77 | €16,192 | €7,762 | -€8,431 | -52.1% |
| Profit (loss) for the period | 9904 | €39,547 | €16,073 | -€23,473 | -59.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,547 | €16,073 | -€23,473 | -59.4% |
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.