NEMETH: 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.
NEMETH
Largest movements
- Tangible fixed assets +€35,112
up €35,112 (+388%), from €9,049 to €44,161
- Receivables within one year +€12,478
up €12,478 (+17.5%), from €71,134 to €83,612
of which Other amounts receivable: +€11,341
- Cash +€3,588
up €3,588 (+110%), from €3,261 to €6,849
mainly Net result for the year (+€34,148) and Tax, wage and social debts (+€14,000)
- Reserves +€34,148
up €34,148 (+82.7%), from €41,275 to €75,423
of which Distributable reserves: +€34,148
- Tax, wage and social debts +€14,000
new in 2025: €14,000
- Other debts +€3,500
up €3,500 (+50.0%), from €7,000 to €10,500
- Gross operating margin +€50,659
up €50,659 (+1,381%), from €3,667 to €54,326
- Taxes +€14,065
up €14,065 (+1,813%), from €776 to €14,841
- Depreciation +€2,207
up €2,207 (+324%), from €681 to €2,888
- Financial income -€916
no longer reported in 2025 (was €916)
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 | €84,219 | €135,905 | +€51,686 | +61.4% |
| Fixed assets | 21/28 | €9,824 | €44,936 | +€35,112 | +357% |
| Tangible fixed assets | 22/27 | €9,049 | €44,161 | +€35,112 | +388% |
| Furniture and vehicles | 24 | €9,049 | €44,161 | +€35,112 | +388% |
| Financial fixed assets | 28 | €775 | €775 | = | 0.0% |
| Current assets | 29/58 | €74,395 | €90,969 | +€16,574 | +22.3% |
| Amounts receivable within one year | 40/41 | €71,134 | €83,612 | +€12,478 | +17.5% |
| Trade receivables | 40 | €70,113 | €71,249 | +€1,137 | +1.6% |
| Other amounts receivable | 41 | €1,021 | €12,362 | +€11,341 | +1,111% |
| Cash at bank and in hand | 54/58 | €3,261 | €6,849 | +€3,588 | +110% |
| Deferred charges and accrued income | 490/1 | - | €508 | +€508 | |
| Total equity and liabilities | 10/49 | €84,219 | €135,905 | +€51,686 | +61.4% |
| Equity | 10/15 | €71,915 | €106,063 | +€34,148 | +47.5% |
| Contributions | 10/11 | €30,640 | €30,640 | = | 0.0% |
| Reserves | 13 | €41,275 | €75,423 | +€34,148 | +82.7% |
| Non-distributable reserves | 130/1 | €3,064 | €3,064 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,064 | €3,064 | = | 0.0% |
| Distributable reserves | 133 | €38,211 | €72,359 | +€34,148 | +89.4% |
| Amounts payable | 17/49 | €12,304 | €29,842 | +€17,538 | +143% |
| Amounts payable within one year | 42/48 | €12,304 | €29,842 | +€17,538 | +143% |
| Trade debts | 44 | €5,304 | €5,342 | +€38 | +0.7% |
| Suppliers | 440/4 | €5,304 | €5,342 | +€38 | +0.7% |
| Taxes, remuneration and social security | 45 | - | €14,000 | +€14,000 | |
| Taxes | 450/3 | - | €14,000 | +€14,000 | |
| Other amounts payable | 47/48 | €7,000 | €10,500 | +€3,500 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €681 | €2,888 | +€2,207 | +324% |
| Other operating charges | 640/8 | €2,113 | €1,720 | -€394 | -18.6% |
| Non-recurring operating charges | 66A | €58 | €555 | +€497 | +857% |
| Gross operating margin | 9900 | €3,667 | €54,326 | +€50,659 | +1,381% |
| Operating profit (loss) | 9901 | €815 | €49,163 | +€48,348 | +5,933% |
| Financial income | 75/76B | €916 | - | -€916 | |
| Recurring financial income | 75 | €916 | - | -€916 | |
| Financial charges | 65/66B | €191 | €174 | -€17 | -8.7% |
| Recurring financial charges | 65 | €191 | €174 | -€17 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €1,540 | €48,989 | +€47,450 | +3,082% |
| Income taxes | 67/77 | €776 | €14,841 | +€14,065 | +1,813% |
| Profit (loss) for the period | 9904 | €764 | €34,148 | +€33,384 | +4,370% |
| Profit (loss) for the period to be appropriated | 9905 | €764 | €34,148 | +€33,384 | +4,370% |
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 13 October 2026 via checked.be.