Nemrod: 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.
Nemrod
Largest movements
- Stocks and contracts -€69,149
down €69,149 (-8.2%), from €848,336 to €779,187
- Cash +€23,561
up €23,561 (+94.5%), from €24,943 to €48,504
- Receivables within one year +€17,994
up €17,994 (+16.5%), from €108,968 to €126,961
of which Other amounts receivable: +€11,677
- Short-term financial debts +€160,000
new in 2025: €160,000
- Tax, wage and social debts -€117,004
down €117,004 (-75.4%), from €155,226 to €38,221
- Trade debts -€109,548
down €109,548 (-52.6%), from €208,107 to €98,560
- Other debts +€84,246
up €84,246 (+564%), from €14,944 to €99,189
- Debts after one year -€36,665
down €36,665 (-22.8%), from €160,899 to €124,234
- Gross operating margin -€267,763
down €267,763 (-84.2%), from €318,032 to €50,269
- Taxes -€73,774
down €73,774 (-92.3%), from €79,966 to €6,192
- Financial charges +€10,671
up €10,671 (+118%), from €9,032 to €19,703
- Depreciation +€8,740
up €8,740 (+112%), from €7,823 to €16,563
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,191,962 | €1,146,394 | -€45,567 | -3.8% |
| Fixed assets | 21/28 | €174,660 | €165,853 | -€8,807 | -5.0% |
| Tangible fixed assets | 22/27 | €174,660 | €165,853 | -€8,807 | -5.0% |
| Land and buildings | 22 | €148,722 | €143,949 | -€4,773 | -3.2% |
| Plant, machinery and equipment | 23 | €10,804 | €6,447 | -€4,357 | -40.3% |
| Furniture and vehicles | 24 | €15,134 | €15,457 | +€323 | +2.1% |
| Current assets | 29/58 | €1,017,302 | €980,541 | -€36,761 | -3.6% |
| Amounts receivable after more than one year | 29 | €31,943 | €21,943 | -€10,000 | -31.3% |
| Other amounts receivable | 291 | €31,943 | €21,943 | -€10,000 | -31.3% |
| Stocks and contracts in progress | 3 | €848,336 | €779,187 | -€69,149 | -8.2% |
| Stocks | 30/36 | €848,336 | €779,187 | -€69,149 | -8.2% |
| Amounts receivable within one year | 40/41 | €108,968 | €126,961 | +€17,994 | +16.5% |
| Trade receivables | 40 | €108,794 | €115,110 | +€6,317 | +5.8% |
| Other amounts receivable | 41 | €174 | €11,851 | +€11,677 | +6,696% |
| Cash at bank and in hand | 54/58 | €24,943 | €48,504 | +€23,561 | +94.5% |
| Deferred charges and accrued income | 490/1 | €3,111 | €3,946 | +€834 | +26.8% |
| Total equity and liabilities | 10/49 | €1,191,962 | €1,146,394 | -€45,567 | -3.8% |
| Equity | 10/15 | €564,517 | €571,432 | +€6,915 | +1.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €544,517 | €551,432 | +€6,915 | +1.3% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100% |
| Distributable reserves | 133 | €542,517 | €551,432 | +€8,915 | +1.6% |
| Amounts payable | 17/49 | €627,445 | €574,963 | -€52,482 | -8.4% |
| Amounts payable after more than one year | 17 | €160,899 | €124,234 | -€36,665 | -22.8% |
| Financial debts | 170/4 | €160,899 | €124,234 | -€36,665 | -22.8% |
| Amounts payable within one year | 42/48 | €459,222 | €446,088 | -€13,135 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €28,212 | €29,456 | +€1,245 | +4.4% |
| Financial debts | 43 | - | €160,000 | +€160,000 | |
| Credit institutions | 430/8 | - | €160,000 | +€160,000 | |
| Trade debts | 44 | €208,107 | €98,560 | -€109,548 | -52.6% |
| Suppliers | 440/4 | €208,107 | €98,560 | -€109,548 | -52.6% |
| Advances received on contracts in progress | 46 | €52,734 | €20,661 | -€32,073 | -60.8% |
| Taxes, remuneration and social security | 45 | €155,226 | €38,221 | -€117,004 | -75.4% |
| Taxes | 450/3 | €155,226 | €38,221 | -€117,004 | -75.4% |
| Other amounts payable | 47/48 | €14,944 | €99,189 | +€84,246 | +564% |
| Accrued charges and deferred income | 492/3 | €7,323 | €4,641 | -€2,682 | -36.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,823 | €16,563 | +€8,740 | +112% |
| Other operating charges | 640/8 | €5,093 | €4,806 | -€288 | -5.6% |
| Gross operating margin | 9900 | €318,032 | €50,269 | -€267,763 | -84.2% |
| Operating profit (loss) | 9901 | €305,117 | €28,901 | -€276,216 | -90.5% |
| Financial income | 75/76B | €4,259 | €3,909 | -€350 | -8.2% |
| Recurring financial income | 75 | €4,259 | €3,909 | -€350 | -8.2% |
| Financial charges | 65/66B | €9,032 | €19,703 | +€10,671 | +118% |
| Recurring financial charges | 65 | €9,032 | €19,703 | +€10,671 | +118% |
| Profit (loss) for the period before taxes | 9903 | €300,344 | €13,107 | -€287,237 | -95.6% |
| Income taxes | 67/77 | €79,966 | €6,192 | -€73,774 | -92.3% |
| Profit (loss) for the period | 9904 | €220,377 | €6,915 | -€213,463 | -96.9% |
| Profit (loss) for the period to be appropriated | 9905 | €220,377 | €6,915 | -€213,463 | -96.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.