NEJARI: 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.
What changed
NEJARI
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€530,451
2024 · -€44,040+€574,491
Equity
€2.3m
2024 · €1.7m+€530,451
Cash
€39,719
2024 · €10,280+€29,440
Balance sheet total
€6.8m
2024 · €6.2m+€645,003
Largest movements
Assets
- Tangible fixed assets +€572,634
up €572,634 (+14.0%), from €4.1m to €4.7m
of which Land and buildings: +€605,401
Equity and liabilities
- Reserves +€484,119
up €484,119 (+37.1%), from €1.3m to €1.8m
of which Tax-exempt reserves: +€459,358
- Provisions +€131,146
up €131,146 (+29.0%), from €451,671 to €582,817
Income statement
- Gross operating margin +€670,245
up €670,245 (+408.8%), from €163,965 to €834,210
- Depreciation -€29,108
down €29,108 (-24.0%), from €121,315 to €92,207
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.
Result 2024
-€44,040
Gross operating margin
+€670,245
Depreciation
+€29,108
Other operating charges
+€4,558
Financial income
+€136
Financial charges
-€382
Taxes
+€7,757
Deferred taxes and other
-€136,931
Result 2025
€530,451
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.
From operations
+€675,280
Investment
-€664,840
Financing
+€19,000
Cash 2024
€10,280
From operations (derived)
+€675,280
Net result for the year
+€530,451
Depreciation
+€92,207
Receivables within one year
-€42,930
Provisions
+€131,146
Trade debts
-€765
Tax, wage and social debts
+€25,061
Other debts
-€59,890
Investment (derived)
-€664,840
Investment in fixed assets (net)
-€664,840
Financing
+€19,000
Debts after one year
+€19,000
Cash 2025
€39,719
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,152,453 | €6,797,456 | +€645,003 | +10.5% |
| Fixed assets | 21/28 | €4,105,559 | €4,678,193 | +€572,634 | +13.9% |
| Tangible fixed assets | 22/27 | €4,104,559 | €4,677,193 | +€572,634 | +14.0% |
| Land and buildings | 22 | €4,010,384 | €4,615,785 | +€605,401 | +15.1% |
| Plant, machinery and equipment | 23 | €58,061 | €30,293 | -€27,767 | -47.8% |
| Furniture and vehicles | 24 | €36,114 | €31,114 | -€5,000 | -13.8% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €2,046,895 | €2,119,264 | +€72,369 | +3.5% |
| Amounts receivable after more than one year | 29 | €1,400,000 | €1,400,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,400,000 | €1,400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €636,615 | €679,545 | +€42,930 | +6.7% |
| Trade receivables | 40 | - | €196 | +€196 | |
| Other amounts receivable | 41 | €636,615 | €679,349 | +€42,734 | +6.7% |
| Cash at bank and in hand | 54/58 | €10,280 | €39,719 | +€29,440 | +286.4% |
| Total equity and liabilities | 10/49 | €6,152,453 | €6,797,456 | +€645,003 | +10.5% |
| Equity | 10/15 | €1,724,801 | €2,255,253 | +€530,451 | +30.8% |
| Contributions | 10/11 | €373,000 | €373,000 | = | 0.0% |
| Capital | 10 | €373,000 | €373,000 | = | 0.0% |
| Issued capital | 100 | €373,000 | €373,000 | = | 0.0% |
| Reserves | 13 | €1,305,619 | €1,789,738 | +€484,119 | +37.1% |
| Non-distributable reserves | 130/1 | €12,539 | €37,300 | +€24,761 | +197.5% |
| Legal reserve | 130 | €12,539 | €37,300 | +€24,761 | +197.5% |
| Tax-exempt reserves | 132 | €1,289,033 | €1,748,392 | +€459,358 | +35.6% |
| Distributable reserves | 133 | €4,046 | €4,046 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,183 | €92,515 | +€46,332 | +100.3% |
| Provisions and deferred taxes | 16 | €451,671 | €582,817 | +€131,146 | +29.0% |
| Deferred taxes | 168 | €451,671 | €582,817 | +€131,146 | +29.0% |
| Amounts payable | 17/49 | €3,975,981 | €3,959,387 | -€16,594 | -0.4% |
| Amounts payable after more than one year | 17 | €2,281,000 | €2,300,000 | +€19,000 | +0.8% |
| Financial debts | 170/4 | €2,281,000 | €2,300,000 | +€19,000 | +0.8% |
| Amounts payable within one year | 42/48 | €1,694,981 | €1,659,387 | -€35,594 | -2.1% |
| Trade debts | 44 | €765 | €0 | -€765 | -100.0% |
| Suppliers | 440/4 | €765 | €0 | -€765 | -100.0% |
| Taxes, remuneration and social security | 45 | €7,218 | €32,279 | +€25,061 | +347.2% |
| Taxes | 450/3 | €7,218 | €32,279 | +€25,061 | +347.2% |
| Other amounts payable | 47/48 | €1,686,998 | €1,627,108 | -€59,890 | -3.6% |
| Non-recurring operating income | 76A | - | €760,600 | +€760,600 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,315 | €92,207 | -€29,108 | -24.0% |
| Other operating charges | 640/8 | €13,176 | €8,618 | -€4,558 | -34.6% |
| Gross operating margin | 9900 | €163,965 | €834,210 | +€670,245 | +408.8% |
| Operating profit (loss) | 9901 | €29,475 | €733,385 | +€703,911 | +2388.2% |
| Financial income | 75/76B | €0 | €136 | +€136 | +169887.5% |
| Recurring financial income | 75 | €0 | €136 | +€136 | +169887.5% |
| Financial charges | 65/66B | €45,664 | €46,045 | +€382 | +0.8% |
| Recurring financial charges | 65 | €45,664 | €46,045 | +€382 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€16,189 | €687,476 | +€703,665 | |
| Transfer from deferred taxes | 780 | €5,785 | €59,004 | +€53,219 | +919.9% |
| Transfer to deferred taxes | 680 | - | €190,150 | +€190,150 | |
| Income taxes | 67/77 | €33,636 | €25,880 | -€7,757 | -23.1% |
| Profit (loss) for the period | 9904 | -€44,040 | €530,451 | +€574,491 | |
| Transfer from tax-exempt reserves | 789 | €13,772 | €111,092 | +€97,320 | +706.6% |
| Transfer to tax-exempt reserves | 689 | - | €570,450 | +€570,450 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,268 | €71,093 | +€101,361 |
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 4 October 2026 via checked.be.