Neli-Phi: 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.
Neli-Phi
Largest movements
- Current investments +€24,390
up €24,390 (+254%), from €9,601 to €33,991
- Tangible fixed assets -€19,549
down €19,549 (-13.9%), from €140,519 to €120,969
of which Land and buildings: -€10,369
- Receivables within one year -€13,998
down €13,998 (-33.8%), from €41,407 to €27,409
of which Other amounts receivable: -€9,742
- Reserves -€82,135
down €82,135 (-69.1%), from €118,901 to €36,767
of which Distributable reserves: -€82,135
- Other debts +€68,000
new in 2025: €68,000
- Tax, wage and social debts +€8,410
up €8,410 (+21.9%), from €38,442 to €46,852
- Debts after one year -€4,392
down €4,392 (-3.9%), from €111,707 to €107,315
- Gross operating margin -€2,798
down €2,798 (-2.2%), from €125,800 to €123,001
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 | €293,236 | €284,651 | -€8,586 | -2.9% |
| Fixed assets | 21/28 | €140,519 | €120,969 | -€19,549 | -13.9% |
| Tangible fixed assets | 22/27 | €140,519 | €120,969 | -€19,549 | -13.9% |
| Land and buildings | 22 | €89,389 | €79,020 | -€10,369 | -11.6% |
| Furniture and vehicles | 24 | €51,130 | €41,950 | -€9,180 | -18.0% |
| Current assets | 29/58 | €152,718 | €163,681 | +€10,964 | +7.2% |
| Amounts receivable within one year | 40/41 | €41,407 | €27,409 | -€13,998 | -33.8% |
| Trade receivables | 40 | €23,518 | €19,263 | -€4,256 | -18.1% |
| Other amounts receivable | 41 | €17,888 | €8,147 | -€9,742 | -54.5% |
| Current investments | 50/53 | €9,601 | €33,991 | +€24,390 | +254% |
| Cash at bank and in hand | 54/58 | €98,990 | €100,154 | +€1,164 | +1.2% |
| Deferred charges and accrued income | 490/1 | €2,720 | €2,127 | -€593 | -21.8% |
| Total equity and liabilities | 10/49 | €293,236 | €284,651 | -€8,586 | -2.9% |
| Equity | 10/15 | €137,501 | €55,367 | -€82,135 | -59.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,901 | €36,767 | -€82,135 | -69.1% |
| Tax-exempt reserves | 132 | €59 | €59 | = | 0.0% |
| Distributable reserves | 133 | €118,842 | €36,707 | -€82,135 | -69.1% |
| Amounts payable | 17/49 | €155,735 | €229,284 | +€73,549 | +47.2% |
| Amounts payable after more than one year | 17 | €111,707 | €107,315 | -€4,392 | -3.9% |
| Financial debts | 170/4 | €111,707 | €107,315 | -€4,392 | -3.9% |
| Amounts payable within one year | 42/48 | €44,028 | €121,969 | +€77,941 | +177% |
| Current portion of amounts payable after more than one year | 42 | €4,226 | €4,392 | +€165 | +3.9% |
| Trade debts | 44 | €1,360 | €2,725 | +€1,366 | +100% |
| Suppliers | 440/4 | €1,360 | €2,725 | +€1,366 | +100% |
| Taxes, remuneration and social security | 45 | €38,442 | €46,852 | +€8,410 | +21.9% |
| Taxes | 450/3 | €38,442 | €46,852 | +€8,410 | +21.9% |
| Other amounts payable | 47/48 | - | €68,000 | +€68,000 | |
| Non-recurring operating income | 76A | - | €6,000 | +€6,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,939 | €19,549 | +€611 | +3.2% |
| Other operating charges | 640/8 | €1,738 | €1,949 | +€211 | +12.1% |
| Gross operating margin | 9900 | €125,800 | €123,001 | -€2,798 | -2.2% |
| Operating profit (loss) | 9901 | €105,123 | €101,504 | -€3,620 | -3.4% |
| Financial income | 75/76B | €965 | €754 | -€212 | -21.9% |
| Recurring financial income | 75 | €965 | €754 | -€212 | -21.9% |
| Financial charges | 65/66B | €4,905 | €5,320 | +€416 | +8.5% |
| Recurring financial charges | 65 | €4,905 | €5,320 | +€416 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €101,184 | €96,937 | -€4,247 | -4.2% |
| Income taxes | 67/77 | €23,687 | €24,072 | +€384 | +1.6% |
| Profit (loss) for the period | 9904 | €77,496 | €72,865 | -€4,631 | -6.0% |
| Profit (loss) for the period to be appropriated | 9905 | €77,496 | €72,865 | -€4,631 | -6.0% |
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.