NEO INVEST: 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 INVEST
Largest movements
- Tangible fixed assets +€712,436
up €712,436 (+111%), from €639,556 to €1.4m
of which Land and buildings: +€737,953
- Cash -€39,631
down €39,631 (-21.2%), from €186,915 to €147,285
mainly Investment in fixed assets (net) (-€842,020) and Receivables within one year (-€22,295)
- Receivables within one year +€22,295
up €22,295 (+94.6%), from €23,557 to €45,852
of which Trade receivables: +€20,017
- Debts after one year +€575,784
up €575,784 (+157%), from €366,089 to €941,873
- Trade debts +€83,221
up €83,221 (+9,002%), from €924 to €84,146
- Current portion of long-term debt +€61,613
up €61,613 (+102%), from €60,175 to €121,788
- Other debts -€22,026
no longer reported in 2025 (was €22,026)
- Depreciation +€90,789
up €90,789 (+234%), from €38,794 to €129,583
- Taxes -€22,121
down €22,121 (-79.4%), from €27,876 to €5,755
- Financial charges +€17,103
up €17,103 (+85.1%), from €20,102 to €37,204
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 | €853,295 | €1,556,790 | +€703,496 | +82.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €639,556 | €1,351,992 | +€712,436 | +111% |
| Tangible fixed assets | 22/27 | €639,556 | €1,351,992 | +€712,436 | +111% |
| Land and buildings | 22 | €540,893 | €1,278,846 | +€737,953 | +136% |
| Plant, machinery and equipment | 23 | €8,528 | €6,058 | -€2,469 | -29.0% |
| Furniture and vehicles | 24 | €78,037 | €56,842 | -€21,195 | -27.2% |
| Other tangible fixed assets | 26 | €12,098 | €10,246 | -€1,852 | -15.3% |
| Current assets | 29/58 | €213,739 | €204,798 | -€8,941 | -4.2% |
| Amounts receivable within one year | 40/41 | €23,557 | €45,852 | +€22,295 | +94.6% |
| Trade receivables | 40 | €23,404 | €43,421 | +€20,017 | +85.5% |
| Other amounts receivable | 41 | €153 | €2,431 | +€2,278 | +1,490% |
| Cash at bank and in hand | 54/58 | €186,915 | €147,285 | -€39,631 | -21.2% |
| Deferred charges and accrued income | 490/1 | €3,266 | €11,661 | +€8,395 | +257% |
| Total equity and liabilities | 10/49 | €853,295 | €1,556,790 | +€703,496 | +82.4% |
| Equity | 10/15 | €380,753 | €387,464 | +€6,712 | +1.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €220,521 | €227,233 | +€6,712 | +3.0% |
| Tax-exempt reserves | 132 | €25,490 | €25,490 | = | 0.0% |
| Distributable reserves | 133 | €195,031 | €201,743 | +€6,712 | +3.4% |
| Profit (loss) carried forward | 14 | €159,732 | €159,732 | = | 0.0% |
| Amounts payable | 17/49 | €472,542 | €1,169,326 | +€696,784 | +147% |
| Amounts payable after more than one year | 17 | €366,089 | €941,873 | +€575,784 | +157% |
| Financial debts | 170/4 | €366,089 | €941,873 | +€575,784 | +157% |
| Amounts payable within one year | 42/48 | €106,453 | €227,453 | +€121,000 | +114% |
| Current portion of amounts payable after more than one year | 42 | €60,175 | €121,788 | +€61,613 | +102% |
| Trade debts | 44 | €924 | €84,146 | +€83,221 | +9,002% |
| Suppliers | 440/4 | €924 | €84,146 | +€83,221 | +9,002% |
| Advances received on contracts in progress | 46 | €3,657 | - | -€3,657 | |
| Taxes, remuneration and social security | 45 | €19,671 | €21,519 | +€1,848 | +9.4% |
| Taxes | 450/3 | €19,671 | €21,402 | +€1,731 | +8.8% |
| Remuneration and social security | 454/9 | - | €118 | +€118 | |
| Other amounts payable | 47/48 | €22,026 | - | -€22,026 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,794 | €129,583 | +€90,789 | +234% |
| Other operating charges | 640/8 | €3,178 | €4,121 | +€943 | +29.7% |
| Non-recurring operating charges | 66A | €577 | - | -€577 | |
| Gross operating margin | 9900 | €181,635 | €183,123 | +€1,488 | +0.8% |
| Operating profit (loss) | 9901 | €139,086 | €49,419 | -€89,668 | -64.5% |
| Financial income | 75/76B | €250 | €252 | +€2 | +0.8% |
| Recurring financial income | 75 | €250 | €252 | +€2 | +0.8% |
| Financial charges | 65/66B | €20,102 | €37,204 | +€17,103 | +85.1% |
| Recurring financial charges | 65 | €20,102 | €37,204 | +€17,103 | +85.1% |
| Profit (loss) for the period before taxes | 9903 | €119,235 | €12,467 | -€106,768 | -89.5% |
| Income taxes | 67/77 | €27,876 | €5,755 | -€22,121 | -79.4% |
| Profit (loss) for the period | 9904 | €91,359 | €6,712 | -€84,647 | -92.7% |
| Profit (loss) for the period to be appropriated | 9905 | €91,359 | €6,712 | -€84,647 | -92.7% |
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 31 October 2026 via checked.be.