NEHRO: 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.
NEHRO
Largest movements
- Financial fixed assets -€40,000
down €40,000 (-4.7%), from €850,000 to €810,000
- Cash +€36,337
up €36,337 (+215%), from €16,865 to €53,202
mainly Net result for the year (+€60,385) and Investment in fixed assets (net) (+€40,000)
- Debts after one year -€74,408
down €74,408 (-59.6%), from €124,754 to €50,346
- Profit (loss) carried forward +€48,385
up €48,385 (+30.5%), from €158,556 to €206,942
- Other debts +€13,307
up €13,307 (+2.8%), from €479,423 to €492,729
- Gross operating margin +€35,090
up €35,090 (+87.2%), from €40,254 to €75,344
- Taxes +€8,563
up €8,563 (+128%), from €6,685 to €15,248
- Financial income +€5,860
new in 2025: €5,860
- Financial charges -€3,100
down €3,100 (-46.4%), from €6,681 to €3,581
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 | €871,852 | €865,743 | -€6,109 | -0.7% |
| Fixed assets | 21/28 | €852,323 | €811,846 | -€40,477 | -4.7% |
| Tangible fixed assets | 22/27 | €2,323 | €1,846 | -€477 | -20.5% |
| Furniture and vehicles | 24 | €2,323 | €1,846 | -€477 | -20.5% |
| Financial fixed assets | 28 | €850,000 | €810,000 | -€40,000 | -4.7% |
| Current assets | 29/58 | €19,529 | €53,897 | +€34,368 | +176% |
| Amounts receivable within one year | 40/41 | €2,664 | €0 | -€2,664 | -100% |
| Trade receivables | 40 | €695 | €0 | -€695 | -100% |
| Other amounts receivable | 41 | €1,969 | €0 | -€1,969 | -100% |
| Cash at bank and in hand | 54/58 | €16,865 | €53,202 | +€36,337 | +215% |
| Deferred charges and accrued income | 490/1 | - | €695 | +€695 | |
| Total equity and liabilities | 10/49 | €871,852 | €865,743 | -€6,109 | -0.7% |
| Equity | 10/15 | €177,399 | €225,784 | +€48,385 | +27.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €243 | €243 | = | 0.0% |
| Distributable reserves | 133 | €243 | €243 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,556 | €206,942 | +€48,385 | +30.5% |
| Amounts payable | 17/49 | €694,453 | €639,958 | -€54,494 | -7.8% |
| Amounts payable after more than one year | 17 | €124,754 | €50,346 | -€74,408 | -59.6% |
| Financial debts | 170/4 | €124,754 | €50,346 | -€74,408 | -59.6% |
| Amounts payable within one year | 42/48 | €569,396 | €589,418 | +€20,022 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €84,336 | €80,549 | -€3,786 | -4.5% |
| Trade debts | 44 | €298 | €2,551 | +€2,252 | +756% |
| Suppliers | 440/4 | €298 | €2,551 | +€2,252 | +756% |
| Taxes, remuneration and social security | 45 | €5,339 | €13,589 | +€8,250 | +155% |
| Taxes | 450/3 | €5,339 | €13,589 | +€8,250 | +155% |
| Other amounts payable | 47/48 | €479,423 | €492,729 | +€13,307 | +2.8% |
| Accrued charges and deferred income | 492/3 | €302 | €194 | -€108 | -35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61 | €477 | +€415 | +677% |
| Other operating charges | 640/8 | €1,279 | €1,514 | +€235 | +18.3% |
| Gross operating margin | 9900 | €40,254 | €75,344 | +€35,090 | +87.2% |
| Operating profit (loss) | 9901 | €38,914 | €73,354 | +€34,440 | +88.5% |
| Financial income | 75/76B | - | €5,860 | +€5,860 | |
| Recurring financial income | 75 | - | €5,860 | +€5,860 | |
| Financial charges | 65/66B | €6,681 | €3,581 | -€3,100 | -46.4% |
| Recurring financial charges | 65 | €6,681 | €3,581 | -€3,100 | -46.4% |
| Profit (loss) for the period before taxes | 9903 | €32,232 | €75,633 | +€43,400 | +135% |
| Income taxes | 67/77 | €6,685 | €15,248 | +€8,563 | +128% |
| Profit (loss) for the period | 9904 | €25,547 | €60,385 | +€34,838 | +136% |
| Profit (loss) for the period to be appropriated | 9905 | €25,547 | €60,385 | +€34,838 | +136% |
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.