NefrOn: 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.
NefrOn
Largest movements
- Cash +€233,306
up €233,306 (+1,063%), from €21,946 to €255,251
mainly Net result for the year (+€640,038) and Current investments (+€200,000)
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Deferred charges and accrued income +€38,342
up €38,342 (+14.5%), from €264,011 to €302,353
- Tangible fixed assets -€12,565
down €12,565 (-29.7%), from €42,260 to €29,695
of which Furniture and vehicles: -€12,094
- Reserves +€90,038
up €90,038 (+1,125%), from €8,000 to €98,038
- Other debts -€54,304
down €54,304 (-10.3%), from €525,153 to €470,849
- Tax, wage and social debts +€22,348
up €22,348 (+1,470%), from €1,520 to €23,868
- Gross operating margin +€232,101
up €232,101 (+36.5%), from €636,735 to €868,836
- Taxes +€74,306
up €74,306 (+51.7%), from €143,811 to €218,117
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 | €535,907 | €594,621 | +€58,714 | +11.0% |
| Fixed assets | 21/28 | €45,360 | €32,795 | -€12,565 | -27.7% |
| Tangible fixed assets | 22/27 | €42,260 | €29,695 | -€12,565 | -29.7% |
| Plant, machinery and equipment | 23 | €4,467 | €3,996 | -€471 | -10.5% |
| Furniture and vehicles | 24 | €37,794 | €25,700 | -€12,094 | -32.0% |
| Financial fixed assets | 28 | €3,100 | €3,100 | = | 0.0% |
| Current assets | 29/58 | €490,547 | €561,825 | +€71,279 | +14.5% |
| Amounts receivable within one year | 40/41 | €4,590 | €4,221 | -€369 | -8.0% |
| Trade receivables | 40 | €4,590 | €4,221 | -€369 | -8.0% |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €21,946 | €255,251 | +€233,306 | +1,063% |
| Deferred charges and accrued income | 490/1 | €264,011 | €302,353 | +€38,342 | +14.5% |
| Total equity and liabilities | 10/49 | €535,907 | €594,621 | +€58,714 | +11.0% |
| Equity | 10/15 | €8,100 | €98,138 | +€90,038 | +1,112% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €8,000 | €98,038 | +€90,038 | +1,125% |
| Distributable reserves | 133 | €8,000 | €98,038 | +€90,038 | +1,125% |
| Amounts payable | 17/49 | €527,807 | €496,483 | -€31,324 | -5.9% |
| Amounts payable within one year | 42/48 | €527,157 | €496,483 | -€30,674 | -5.8% |
| Trade debts | 44 | €485 | €1,766 | +€1,282 | +264% |
| Suppliers | 440/4 | €485 | €1,766 | +€1,282 | +264% |
| Taxes, remuneration and social security | 45 | €1,520 | €23,868 | +€22,348 | +1,470% |
| Taxes | 450/3 | €1,520 | €23,868 | +€22,348 | +1,470% |
| Other amounts payable | 47/48 | €525,153 | €470,849 | -€54,304 | -10.3% |
| Accrued charges and deferred income | 492/3 | €650 | - | -€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,328 | €12,565 | -€763 | -5.7% |
| Other operating charges | 640/8 | €1,561 | €516 | -€1,045 | -66.9% |
| Gross operating margin | 9900 | €636,735 | €868,836 | +€232,101 | +36.5% |
| Operating profit (loss) | 9901 | €621,847 | €855,755 | +€233,909 | +37.6% |
| Financial income | 75/76B | €930 | €2,448 | +€1,518 | +163% |
| Recurring financial income | 75 | €930 | €2,448 | +€1,518 | +163% |
| Financial charges | 65/66B | €706 | €49 | -€657 | -93.1% |
| Recurring financial charges | 65 | €706 | €49 | -€657 | -93.1% |
| Profit (loss) for the period before taxes | 9903 | €622,071 | €858,154 | +€236,083 | +38.0% |
| Income taxes | 67/77 | €143,811 | €218,117 | +€74,306 | +51.7% |
| Profit (loss) for the period | 9904 | €478,261 | €640,038 | +€161,777 | +33.8% |
| Profit (loss) for the period to be appropriated | 9905 | €478,261 | €640,038 | +€161,777 | +33.8% |
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 15 October 2026 via checked.be.