NEKORIF: 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.
NEKORIF
Largest movements
- Receivables within one year -€103,167
down €103,167 (-99.8%), from €103,329 to €163
of which Trade receivables: -€103,167
- Stocks and contracts -€79,992
down €79,992 (-32.5%), from €245,921 to €165,929
- Financial fixed assets +€11,354
up €11,354 (+92.2%), from €12,320 to €23,674
- Intangible fixed assets -€10,000
down €10,000 (-51.0%), from €19,589 to €9,589
- Cash +€9,398
up €9,398 (+38.9%), from €24,142 to €33,540
mainly Receivables within one year (+€103,167) and Stocks and contracts (+€79,992)
- Advances received -€98,925
down €98,925 (-89.5%), from €110,538 to €11,614
- Profit (loss) carried forward -€44,899
down €44,899 (-183%), from -€24,587 to -€69,486
- Trade debts -€30,209
down €30,209 (-18.5%), from €162,885 to €132,676
- Accrued charges and deferred income +€7,900
new in 2025: €7,900
- Other debts -€6,577
down €6,577 (-10.0%), from €65,608 to €59,031
- Gross operating margin -€44,881
down €44,881 (-22.1%), from €203,018 to €158,136
- Staff costs +€11,175
up €11,175 (+6.8%), from €163,619 to €174,793
- Depreciation -€2,120
down €2,120 (-14.4%), from €14,715 to €12,595
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 | €412,209 | €237,717 | -€174,492 | -42.3% |
| Fixed assets | 21/28 | €38,327 | €38,086 | -€241 | -0.6% |
| Intangible fixed assets | 21 | €19,589 | €9,589 | -€10,000 | -51.0% |
| Tangible fixed assets | 22/27 | €6,418 | €4,823 | -€1,595 | -24.8% |
| Plant, machinery and equipment | 23 | €1,049 | €528 | -€521 | -49.7% |
| Furniture and vehicles | 24 | €1,169 | €1,060 | -€109 | -9.3% |
| Other tangible fixed assets | 26 | €4,200 | €3,235 | -€965 | -23.0% |
| Financial fixed assets | 28 | €12,320 | €23,674 | +€11,354 | +92.2% |
| Current assets | 29/58 | €373,883 | €199,631 | -€174,252 | -46.6% |
| Stocks and contracts in progress | 3 | €245,921 | €165,929 | -€79,992 | -32.5% |
| Stocks | 30/36 | €245,921 | €165,929 | -€79,992 | -32.5% |
| Amounts receivable within one year | 40/41 | €103,329 | €163 | -€103,167 | -99.8% |
| Trade receivables | 40 | €103,167 | - | -€103,167 | |
| Other amounts receivable | 41 | €163 | €163 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,142 | €33,540 | +€9,398 | +38.9% |
| Deferred charges and accrued income | 490/1 | €491 | - | -€491 | |
| Total equity and liabilities | 10/49 | €412,209 | €237,717 | -€174,492 | -42.3% |
| Equity | 10/15 | €30,413 | -€14,486 | -€44,899 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,000 | €5,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,587 | -€69,486 | -€44,899 | -183% |
| Amounts payable | 17/49 | €381,796 | €252,203 | -€129,593 | -33.9% |
| Amounts payable within one year | 42/48 | €381,796 | €244,303 | -€137,493 | -36.0% |
| Trade debts | 44 | €162,885 | €132,676 | -€30,209 | -18.5% |
| Suppliers | 440/4 | €162,885 | €132,676 | -€30,209 | -18.5% |
| Advances received on contracts in progress | 46 | €110,538 | €11,614 | -€98,925 | -89.5% |
| Taxes, remuneration and social security | 45 | €42,764 | €40,981 | -€1,783 | -4.2% |
| Taxes | 450/3 | €22,305 | €6,838 | -€15,467 | -69.3% |
| Remuneration and social security | 454/9 | €20,459 | €34,143 | +€13,684 | +66.9% |
| Other amounts payable | 47/48 | €65,608 | €59,031 | -€6,577 | -10.0% |
| Accrued charges and deferred income | 492/3 | - | €7,900 | +€7,900 | |
| Remuneration, social security and pensions | 62 | €163,619 | €174,793 | +€11,175 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,715 | €12,595 | -€2,120 | -14.4% |
| Other operating charges | 640/8 | €9,400 | €7,789 | -€1,611 | -17.1% |
| Gross operating margin | 9900 | €203,018 | €158,136 | -€44,881 | -22.1% |
| Operating profit (loss) | 9901 | €15,283 | -€37,041 | -€52,324 | |
| Financial income | 75/76B | €37 | €20 | -€18 | -47.1% |
| Recurring financial income | 75 | €37 | €20 | -€18 | -47.1% |
| Financial charges | 65/66B | €6,282 | €7,873 | +€1,591 | +25.3% |
| Recurring financial charges | 65 | €6,282 | €7,873 | +€1,591 | +25.3% |
| Profit (loss) for the period before taxes | 9903 | €9,039 | -€44,894 | -€53,932 | |
| Income taxes | 67/77 | €346 | €5 | -€340 | -98.5% |
| Profit (loss) for the period | 9904 | €8,693 | -€44,899 | -€53,592 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,693 | -€44,899 | -€53,592 |
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 23 October 2026 via checked.be.