NEMAKO: 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.
NEMAKO
Largest movements
- Tangible fixed assets +€147,029
up €147,029 (+2979.8%), from €4,934 to €151,963
of which Plant, machinery and equipment: +€149,589
- Cash +€50,293
up €50,293 (+160.6%), from €31,317 to €81,610
mainly Debts after one year (+€112,159) and Net result for the year (+€54,445)
- Receivables within one year +€11,342
up €11,342 (+24.5%), from €46,305 to €57,648
of which Trade receivables: +€11,326
- Debts after one year +€112,159
up €112,159 (+273.9%), from €40,945 to €153,103
of which Financial debts: +€112,159
- Profit (loss) carried forward +€29,445
up €29,445 (+45.2%), from €65,202 to €94,647
- Reserves +€25,000
up €25,000 (+24.8%), from €100,846 to €125,846
of which Distributable reserves: +€25,000
- Current portion of long-term debt +€24,437
new in 2025: €24,437
- Tax, wage and social debts +€10,671
up €10,671 (+59.0%), from €18,100 to €28,771
- Gross operating margin +€68,630
up €68,630 (+192.1%), from €35,717 to €104,347
- Depreciation +€18,788
up €18,788 (+291.9%), from €6,437 to €25,225
- Taxes +€8,156
up €8,156 (+90.2%), from €9,041 to €17,197
- Financial charges +€4,879
up €4,879 (+656.8%), from €743 to €5,622
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €310,065 | €520,396 | +€210,331 | +67.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €189,332 | €336,361 | +€147,029 | +77.7% |
| Tangible fixed assets | 22/27 | €4,934 | €151,963 | +€147,029 | +2979.8% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €1,829 | €151,418 | +€149,589 | +8179.2% |
| Furniture and vehicles | 24 | €3,105 | €545 | -€2,560 | -82.4% |
| Financial fixed assets | 28 | €184,398 | €184,398 | = | 0.0% |
| Current assets | 29/58 | €120,733 | €184,034 | +€63,302 | +52.4% |
| Stocks and contracts in progress | 3 | - | €30 | +€30 | |
| Stocks | 30/36 | - | €30 | +€30 | |
| Amounts receivable within one year | 40/41 | €46,305 | €57,648 | +€11,342 | +24.5% |
| Trade receivables | 40 | €36,304 | €47,630 | +€11,326 | +31.2% |
| Other amounts receivable | 41 | €10,001 | €10,018 | +€17 | +0.2% |
| Current investments | 50/53 | €43,065 | €43,065 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31,317 | €81,610 | +€50,293 | +160.6% |
| Deferred charges and accrued income | 490/1 | €45 | €1,681 | +€1,636 | +3636.2% |
| Total equity and liabilities | 10/49 | €310,065 | €520,396 | +€210,331 | +67.8% |
| Equity | 10/15 | €173,485 | €227,930 | +€54,445 | +31.4% |
| Contributions | 10/11 | €7,437 | €7,437 | = | 0.0% |
| Reserves | 13 | €100,846 | €125,846 | +€25,000 | +24.8% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,290 | €49,290 | = | 0.0% |
| Distributable reserves | 133 | €49,697 | €74,697 | +€25,000 | +50.3% |
| Profit (loss) carried forward | 14 | €65,202 | €94,647 | +€29,445 | +45.2% |
| Amounts payable | 17/49 | €136,580 | €292,466 | +€155,886 | +114.1% |
| Amounts payable after more than one year | 17 | €40,945 | €153,103 | +€112,159 | +273.9% |
| Financial debts | 170/4 | - | €112,159 | +€112,159 | |
| Other amounts payable | 178/9 | €40,945 | €40,945 | = | 0.0% |
| Amounts payable within one year | 42/48 | €95,635 | €139,362 | +€43,727 | +45.7% |
| Current portion of amounts payable after more than one year | 42 | - | €24,437 | +€24,437 | |
| Trade debts | 44 | €48,680 | €55,183 | +€6,503 | +13.4% |
| Suppliers | 440/4 | €48,680 | €55,183 | +€6,503 | +13.4% |
| Taxes, remuneration and social security | 45 | €18,100 | €28,771 | +€10,671 | +59.0% |
| Taxes | 450/3 | €18,100 | €28,771 | +€10,671 | +59.0% |
| Other amounts payable | 47/48 | €28,855 | €30,972 | +€2,117 | +7.3% |
| Non-recurring operating income | 76A | - | €55,000 | +€55,000 | |
| Remuneration, social security and pensions | 62 | €2,077 | €1,789 | -€287 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,437 | €25,225 | +€18,788 | +291.9% |
| Other operating charges | 640/8 | €1,061 | €334 | -€727 | -68.5% |
| Gross operating margin | 9900 | €35,717 | €104,347 | +€68,630 | +192.1% |
| Operating profit (loss) | 9901 | €26,142 | €76,998 | +€50,856 | +194.5% |
| Financial income | 75/76B | €170 | €266 | +€96 | +56.7% |
| Recurring financial income | 75 | €170 | €266 | +€96 | +56.7% |
| Financial charges | 65/66B | €743 | €5,622 | +€4,879 | +656.8% |
| Recurring financial charges | 65 | €743 | €5,622 | +€4,879 | +656.8% |
| Profit (loss) for the period before taxes | 9903 | €25,569 | €71,642 | +€46,073 | +180.2% |
| Income taxes | 67/77 | €9,041 | €17,197 | +€8,156 | +90.2% |
| Profit (loss) for the period | 9904 | €16,528 | €54,445 | +€37,917 | +229.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,528 | €54,445 | +€37,917 | +229.4% |
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 1 October 2026 via checked.be.