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
- Cash -€337,323
down €337,323 (-75.5%), from €446,961 to €109,638
mainly Contributions, distributions and other (-€621,133) and Other debts (-€198,358)
- Tangible fixed assets -€129,597
down €129,597 (-3.6%), from €3.6m to €3.4m
of which Land and buildings: -€106,804
- Financial fixed assets -€75,000
down €75,000 (-10.7%), from €698,500 to €623,500
- Reserves -€653,442
down €653,442 (-46.5%), from €1.4m to €751,021
of which Distributable reserves: -€621,133
- Profit (loss) carried forward +€431,161
up €431,161 (+19.9%), from €2.2m to €2.6m
- Other debts -€198,358
down €198,358 (-100%), from €198,358 to €0
- Trade debts -€70,452
down €70,452 (-66.2%), from €106,353 to €35,901
- Gross operating margin +€183,875
up €183,875 (+36.4%), from €505,649 to €689,524
- Financial income -€93,172
down €93,172 (-99.0%), from €94,088 to €915
- Depreciation +€86,957
up €86,957 (+159%), from €54,715 to €141,672
- Other operating charges -€69,835
down €69,835 (-87.3%), from €79,965 to €10,131
- Taxes +€44,173
up €44,173 (+42.9%), from €102,894 to €147,067
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 | €4,729,743 | €4,179,568 | -€550,175 | -11.6% |
| Fixed assets | 21/28 | €4,253,740 | €4,049,143 | -€204,597 | -4.8% |
| Tangible fixed assets | 22/27 | €3,555,240 | €3,425,643 | -€129,597 | -3.6% |
| Land and buildings | 22 | €3,454,040 | €3,347,237 | -€106,804 | -3.1% |
| Furniture and vehicles | 24 | €101,200 | €78,407 | -€22,793 | -22.5% |
| Financial fixed assets | 28 | €698,500 | €623,500 | -€75,000 | -10.7% |
| Current assets | 29/58 | €476,003 | €130,425 | -€345,579 | -72.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €24,150 | €16,293 | -€7,857 | -32.5% |
| Trade receivables | 40 | €13,081 | €11,065 | -€2,016 | -15.4% |
| Other amounts receivable | 41 | €11,069 | €5,228 | -€5,841 | -52.8% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €446,961 | €109,638 | -€337,323 | -75.5% |
| Deferred charges and accrued income | 490/1 | €4,892 | €4,494 | -€398 | -8.1% |
| Total equity and liabilities | 10/49 | €4,729,743 | €4,179,568 | -€550,175 | -11.6% |
| Equity | 10/15 | €3,719,480 | €3,497,199 | -€222,280 | -6.0% |
| Contributions | 10/11 | €151,749 | €151,749 | = | 0.0% |
| Reserves | 13 | €1,404,463 | €751,021 | -€653,442 | -46.5% |
| Non-distributable reserves | 130/1 | €14,756 | €14,756 | = | 0.0% |
| Reserves not available under the articles | 1311 | €14,756 | €14,756 | = | 0.0% |
| Tax-exempt reserves | 132 | €768,574 | €736,264 | -€32,309 | -4.2% |
| Distributable reserves | 133 | €621,133 | €0 | -€621,133 | -100% |
| Profit (loss) carried forward | 14 | €2,163,268 | €2,594,430 | +€431,161 | +19.9% |
| Provisions and deferred taxes | 16 | €236,553 | €225,783 | -€10,770 | -4.6% |
| Deferred taxes | 168 | €236,553 | €225,783 | -€10,770 | -4.6% |
| Amounts payable | 17/49 | €773,710 | €456,585 | -€317,125 | -41.0% |
| Amounts payable after more than one year | 17 | €328,840 | €308,910 | -€19,930 | -6.1% |
| Financial debts | 170/4 | €300,000 | €300,000 | = | 0.0% |
| Other amounts payable | 178/9 | €28,840 | €8,910 | -€19,930 | -69.1% |
| Amounts payable within one year | 42/48 | €362,978 | €107,994 | -€254,984 | -70.2% |
| Trade debts | 44 | €106,353 | €35,901 | -€70,452 | -66.2% |
| Suppliers | 440/4 | €106,353 | €35,901 | -€70,452 | -66.2% |
| Taxes, remuneration and social security | 45 | €58,267 | €72,093 | +€13,826 | +23.7% |
| Taxes | 450/3 | €58,267 | €72,093 | +€13,826 | +23.7% |
| Other amounts payable | 47/48 | €198,358 | €0 | -€198,358 | -100% |
| Accrued charges and deferred income | 492/3 | €81,892 | €39,681 | -€42,211 | -51.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,715 | €141,672 | +€86,957 | +159% |
| Other operating charges | 640/8 | €79,965 | €10,131 | -€69,835 | -87.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €505,649 | €689,524 | +€183,875 | +36.4% |
| Operating profit (loss) | 9901 | €370,969 | €537,722 | +€166,753 | +45.0% |
| Financial income | 75/76B | €94,088 | €915 | -€93,172 | -99.0% |
| Recurring financial income | 75 | €94,088 | €915 | -€93,172 | -99.0% |
| Financial charges | 65/66B | €3,914 | €3,487 | -€427 | -10.9% |
| Recurring financial charges | 65 | €3,914 | €3,487 | -€427 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €461,143 | €535,150 | +€74,007 | +16.0% |
| Transfer from deferred taxes | 780 | €10,770 | €10,770 | +€0 | 0.0% |
| Income taxes | 67/77 | €102,894 | €147,067 | +€44,173 | +42.9% |
| Profit (loss) for the period | 9904 | €369,018 | €398,852 | +€29,835 | +8.1% |
| Transfer from tax-exempt reserves | 789 | €32,309 | €32,309 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €401,327 | €431,161 | +€29,835 | +7.4% |
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 19 October 2026 via checked.be.