NEMACO: 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.
NEMACO
Largest movements
- Cash +€10,726
up €10,726 (+44.6%), from €24,045 to €34,771
mainly Net result for the year (+€38,442) and Depreciation (+€7,156)
- Tangible fixed assets -€5,794
down €5,794 (-7.3%), from €79,650 to €73,856
of which Land and buildings: -€5,562
- Current investments +€4,449
up €4,449 (+16.4%), from €27,135 to €31,584
- Receivables within one year -€2,933
down €2,933 (-71.7%), from €4,091 to €1,157
- Reserves +€38,442
up €38,442 (+30.2%), from €127,418 to €165,860
- Other debts -€25,363
down €25,363 (-100%), from €25,363 to €0
- Debts after one year -€8,122
down €8,122 (-12.1%), from €66,892 to €58,770
- Financial income +€13,108
up €13,108 (+43.2%), from €30,366 to €43,473
- Gross operating margin +€8,248
up €8,248 (+447%), from €1,843 to €10,092
- Taxes +€2,025
up €2,025 (+98.0%), from €2,066 to €4,091
- Depreciation -€364
down €364 (-4.8%), from €7,520 to €7,156
- Financial charges +€192
up €192 (+6.2%), from €3,073 to €3,264
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 | €233,799 | €240,309 | +€6,510 | +2.8% |
| Fixed assets | 21/28 | €174,826 | €169,031 | -€5,794 | -3.3% |
| Tangible fixed assets | 22/27 | €79,650 | €73,856 | -€5,794 | -7.3% |
| Land and buildings | 22 | €75,871 | €70,308 | -€5,562 | -7.3% |
| Plant, machinery and equipment | 23 | €1,851 | €1,512 | -€339 | -18.3% |
| Furniture and vehicles | 24 | €1,928 | €2,036 | +€107 | +5.6% |
| Financial fixed assets | 28 | €95,176 | €95,176 | = | 0.0% |
| Current assets | 29/58 | €58,973 | €71,278 | +€12,305 | +20.9% |
| Amounts receivable within one year | 40/41 | €4,091 | €1,157 | -€2,933 | -71.7% |
| Other amounts receivable | 41 | €4,091 | €1,157 | -€2,933 | -71.7% |
| Current investments | 50/53 | €27,135 | €31,584 | +€4,449 | +16.4% |
| Cash at bank and in hand | 54/58 | €24,045 | €34,771 | +€10,726 | +44.6% |
| Deferred charges and accrued income | 490/1 | €3,703 | €3,765 | +€62 | +1.7% |
| Total equity and liabilities | 10/49 | €233,799 | €240,309 | +€6,510 | +2.8% |
| Equity | 10/15 | €127,418 | €165,860 | +€38,442 | +30.2% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €127,418 | €165,860 | +€38,442 | +30.2% |
| Distributable reserves | 133 | €127,418 | €165,860 | +€38,442 | +30.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €106,381 | €74,450 | -€31,931 | -30.0% |
| Amounts payable after more than one year | 17 | €66,892 | €58,770 | -€8,122 | -12.1% |
| Financial debts | 170/4 | €66,892 | €58,770 | -€8,122 | -12.1% |
| Amounts payable within one year | 42/48 | €39,382 | €15,635 | -€23,747 | -60.3% |
| Current portion of amounts payable after more than one year | 42 | €7,844 | €8,122 | +€278 | +3.5% |
| Financial debts | 43 | €3,500 | €3,500 | = | 0.0% |
| Credit institutions | 430/8 | €3,500 | €3,500 | = | 0.0% |
| Trade debts | 44 | €2,675 | €3,523 | +€848 | +31.7% |
| Suppliers | 440/4 | €2,675 | €3,523 | +€848 | +31.7% |
| Taxes, remuneration and social security | 45 | - | €490 | +€490 | |
| Taxes | 450/3 | - | €490 | +€490 | |
| Other amounts payable | 47/48 | €25,363 | €0 | -€25,363 | -100% |
| Accrued charges and deferred income | 492/3 | €107 | €45 | -€63 | -58.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,520 | €7,156 | -€364 | -4.8% |
| Other operating charges | 640/8 | €594 | €611 | +€17 | +2.9% |
| Gross operating margin | 9900 | €1,843 | €10,092 | +€8,248 | +447% |
| Operating profit (loss) | 9901 | -€6,271 | €2,324 | +€8,595 | |
| Financial income | 75/76B | €30,366 | €43,473 | +€13,108 | +43.2% |
| Recurring financial income | 75 | €30,366 | €43,473 | +€13,108 | +43.2% |
| Financial charges | 65/66B | €3,073 | €3,264 | +€192 | +6.2% |
| Recurring financial charges | 65 | €3,073 | €3,264 | +€192 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €21,022 | €42,533 | +€21,511 | +102% |
| Income taxes | 67/77 | €2,066 | €4,091 | +€2,025 | +98.0% |
| Profit (loss) for the period | 9904 | €18,956 | €38,442 | +€19,486 | +103% |
| Profit (loss) for the period to be appropriated | 9905 | €18,956 | €38,442 | +€19,486 | +103% |
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 26 October 2026 via checked.be.