NEJMAN: 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.
NEJMAN
Largest movements
- Cash +€152,520
up €152,520 (+62.3%), from €244,647 to €397,167
mainly Current investments (+€125,000) and Depreciation (+€11,109)
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Tangible fixed assets -€11,109
down €11,109 (-6.5%), from €171,031 to €159,922
of which Other tangible fixed assets: -€9,494
- Reserves +€10,240
up €10,240 (+1.9%), from €525,974 to €536,214
of which Distributable reserves: +€10,240
- Gross operating margin +€10,461
up €10,461 (+63.4%), from €16,495 to €26,956
- Financial income -€1,733
down €1,733 (-36.7%), from €4,722 to €2,989
- Taxes -€1,275
down €1,275 (-83.0%), from €1,537 to €262
- Depreciation -€641
down €641 (-5.5%), from €11,750 to €11,109
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 | €550,458 | €563,101 | +€12,643 | +2.3% |
| Fixed assets | 21/28 | €171,155 | €160,046 | -€11,109 | -6.5% |
| Tangible fixed assets | 22/27 | €171,031 | €159,922 | -€11,109 | -6.5% |
| Land and buildings | 22 | €27,293 | €26,175 | -€1,118 | -4.1% |
| Plant, machinery and equipment | 23 | €1,449 | €952 | -€497 | -34.3% |
| Other tangible fixed assets | 26 | €142,289 | €132,795 | -€9,494 | -6.7% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €379,303 | €403,055 | +€23,752 | +6.3% |
| Amounts receivable within one year | 40/41 | €9,103 | €4,919 | -€4,184 | -46.0% |
| Trade receivables | 40 | €1,027 | €1,274 | +€247 | +24.1% |
| Other amounts receivable | 41 | €8,076 | €3,645 | -€4,431 | -54.9% |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €244,647 | €397,167 | +€152,520 | +62.3% |
| Deferred charges and accrued income | 490/1 | €553 | €969 | +€416 | +75.2% |
| Total equity and liabilities | 10/49 | €550,458 | €563,101 | +€12,643 | +2.3% |
| Equity | 10/15 | €544,574 | €554,814 | +€10,240 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €525,974 | €536,214 | +€10,240 | +1.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €22,310 | €22,310 | = | 0.0% |
| Distributable reserves | 133 | €501,804 | €512,044 | +€10,240 | +2.0% |
| Amounts payable | 17/49 | €5,884 | €8,287 | +€2,403 | +40.8% |
| Amounts payable within one year | 42/48 | €5,884 | €8,287 | +€2,403 | +40.8% |
| Trade debts | 44 | €5,394 | €8,067 | +€2,673 | +49.6% |
| Suppliers | 440/4 | €5,394 | €8,067 | +€2,673 | +49.6% |
| Taxes, remuneration and social security | 45 | €270 | - | -€270 | |
| Taxes | 450/3 | €270 | - | -€270 | |
| Other amounts payable | 47/48 | €220 | €220 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,750 | €11,109 | -€641 | -5.5% |
| Other operating charges | 640/8 | €8,094 | €8,247 | +€153 | +1.9% |
| Gross operating margin | 9900 | €16,495 | €26,956 | +€10,461 | +63.4% |
| Operating profit (loss) | 9901 | -€3,349 | €7,600 | +€10,949 | |
| Financial income | 75/76B | €4,722 | €2,989 | -€1,733 | -36.7% |
| Recurring financial income | 75 | €4,722 | €2,989 | -€1,733 | -36.7% |
| Financial charges | 65/66B | €87 | €87 | = | 0.0% |
| Recurring financial charges | 65 | €87 | €87 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €1,286 | €10,502 | +€9,216 | +717% |
| Income taxes | 67/77 | €1,537 | €262 | -€1,275 | -83.0% |
| Profit (loss) for the period | 9904 | -€251 | €10,240 | +€10,491 | |
| Profit (loss) for the period to be appropriated | 9905 | -€251 | €10,240 | +€10,491 |
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 24 October 2026 via checked.be.