NEO: 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.
NEO
Largest movements
- Receivables within one year -€30,503
down €30,503 (-71.1%), from €42,880 to €12,377
of which Trade receivables: -€32,376
- Tangible fixed assets -€11,387
down €11,387 (-5.4%), from €210,571 to €199,184
of which Leasing and similar rights: -€6,536
- Trade debts -€49,060
down €49,060 (-96.6%), from €50,778 to €1,718
- Reserves +€20,210
up €20,210 (+15.4%), from €131,237 to €151,447
- Debts after one year -€19,037
down €19,037 (-16.6%), from €114,634 to €95,597
- Other debts +€3,765
up €3,765 (+31.6%), from €11,924 to €15,689
- Gross operating margin -€25,862
down €25,862 (-35.8%), from €72,225 to €46,363
- Taxes +€3,872
up €3,872 (+70.8%), from €5,471 to €9,343
- Other operating charges -€1,755
down €1,755 (-50.7%), from €3,465 to €1,710
- Financial charges -€1,635
down €1,635 (-28.8%), from €5,672 to €4,036
- Financial income -€1,481
down €1,481 (-82.1%), from €1,804 to €322
of which Non-recurring financial income: -€1,697
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 | €341,825 | €299,923 | -€41,901 | -12.3% |
| Fixed assets | 21/28 | €210,571 | €199,184 | -€11,387 | -5.4% |
| Tangible fixed assets | 22/27 | €210,571 | €199,184 | -€11,387 | -5.4% |
| Land and buildings | 22 | €188,114 | €183,264 | -€4,850 | -2.6% |
| Leasing and similar rights | 25 | €22,457 | €15,920 | -€6,536 | -29.1% |
| Current assets | 29/58 | €131,254 | €100,739 | -€30,515 | -23.2% |
| Amounts receivable after more than one year | 29 | €56,000 | €56,000 | = | 0.0% |
| Other amounts receivable | 291 | €56,000 | €56,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €4,500 | €3,100 | -€1,400 | -31.1% |
| Stocks | 30/36 | €4,500 | €3,100 | -€1,400 | -31.1% |
| Amounts receivable within one year | 40/41 | €42,880 | €12,377 | -€30,503 | -71.1% |
| Trade receivables | 40 | €42,156 | €9,780 | -€32,376 | -76.8% |
| Other amounts receivable | 41 | €724 | €2,597 | +€1,872 | +258.5% |
| Cash at bank and in hand | 54/58 | €25,110 | €23,508 | -€1,603 | -6.4% |
| Deferred charges and accrued income | 490/1 | €2,764 | €5,755 | +€2,991 | +108.2% |
| Total equity and liabilities | 10/49 | €341,825 | €299,923 | -€41,901 | -12.3% |
| Equity | 10/15 | €143,637 | €163,847 | +€20,210 | +14.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €131,237 | €151,447 | +€20,210 | +15.4% |
| Distributable reserves | 133 | €131,237 | €151,447 | +€20,210 | +15.4% |
| Amounts payable | 17/49 | €198,188 | €136,077 | -€62,111 | -31.3% |
| Amounts payable after more than one year | 17 | €114,634 | €95,597 | -€19,037 | -16.6% |
| Financial debts | 170/4 | €114,634 | €95,597 | -€19,037 | -16.6% |
| Amounts payable within one year | 42/48 | €83,554 | €40,480 | -€43,074 | -51.6% |
| Current portion of amounts payable after more than one year | 42 | €18,450 | €19,037 | +€587 | +3.2% |
| Trade debts | 44 | €50,778 | €1,718 | -€49,060 | -96.6% |
| Suppliers | 440/4 | €50,778 | €1,718 | -€49,060 | -96.6% |
| Taxes, remuneration and social security | 45 | €2,402 | €4,036 | +€1,634 | +68.0% |
| Taxes | 450/3 | €1,102 | €2,736 | +€1,634 | +148.3% |
| Remuneration and social security | 454/9 | €1,300 | €1,300 | = | 0.0% |
| Other amounts payable | 47/48 | €11,924 | €15,689 | +€3,765 | +31.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,387 | €11,387 | = | 0.0% |
| Other operating charges | 640/8 | €3,465 | €1,710 | -€1,755 | -50.7% |
| Non-recurring operating charges | 66A | €252 | - | -€252 | |
| Gross operating margin | 9900 | €72,225 | €46,363 | -€25,862 | -35.8% |
| Operating profit (loss) | 9901 | €57,120 | €33,266 | -€23,854 | -41.8% |
| Financial income | 75/76B | €1,804 | €322 | -€1,481 | -82.1% |
| Recurring financial income | 75 | €106 | €322 | +€216 | +202.8% |
| Non-recurring financial income | 76B | €1,697 | - | -€1,697 | |
| Financial charges | 65/66B | €5,672 | €4,036 | -€1,635 | -28.8% |
| Recurring financial charges | 65 | €5,672 | €4,036 | -€1,635 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €53,252 | €29,552 | -€23,700 | -44.5% |
| Income taxes | 67/77 | €5,471 | €9,343 | +€3,872 | +70.8% |
| Profit (loss) for the period | 9904 | €47,781 | €20,210 | -€27,572 | -57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,781 | €20,210 | -€27,572 | -57.7% |
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 11 October 2026 via checked.be.