NEOM International: 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.
NEOM International
Largest movements
- Receivables within one year +€38,000
up €38,000 (+270%), from €14,070 to €52,070
of which Trade receivables: +€38,000
- Other debts +€39,750
up €39,750 (+22.7%), from €175,182 to €214,932
- Debts after one year -€16,496
down €16,496 (-8.3%), from €197,733 to €181,238
- Tax, wage and social debts +€10,832
new in 2025: €10,832
- Write-downs -€30,000
no longer reported in 2025 (was €30,000)
- Gross operating margin -€16,645
down €16,645 (-29.9%), from €55,740 to €39,095
- Other operating charges +€11,433
up €11,433 (+248%), from €4,611 to €16,044
- Depreciation +€2,329
up €2,329 (+18.2%), from €12,795 to €15,125
- Financial charges +€2,266
up €2,266 (+57.4%), from €3,947 to €6,213
of which Financial charges: +€2,526
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 | €399,198 | €433,938 | +€34,739 | +8.7% |
| Fixed assets | 21/28 | €382,368 | €380,467 | -€1,901 | -0.5% |
| Tangible fixed assets | 22/27 | €382,368 | €380,467 | -€1,901 | -0.5% |
| Land and buildings | 22 | €309,365 | €296,797 | -€12,568 | -4.1% |
| Plant, machinery and equipment | 23 | €73,003 | €83,670 | +€10,667 | +14.6% |
| Current assets | 29/58 | €16,830 | €53,471 | +€36,641 | +218% |
| Amounts receivable within one year | 40/41 | €14,070 | €52,070 | +€38,000 | +270% |
| Trade receivables | 40 | €9,602 | €47,602 | +€38,000 | +396% |
| Other amounts receivable | 41 | €4,468 | €4,468 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,760 | €1,401 | -€1,359 | -49.3% |
| Total equity and liabilities | 10/49 | €399,198 | €433,938 | +€34,739 | +8.7% |
| Equity | 10/15 | €8,799 | €9,451 | +€653 | +7.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,201 | -€20,549 | +€653 | +3.1% |
| Amounts payable | 17/49 | €390,400 | €424,486 | +€34,087 | +8.7% |
| Amounts payable after more than one year | 17 | €197,733 | €181,238 | -€16,496 | -8.3% |
| Financial debts | 170/4 | €197,733 | €181,238 | -€16,496 | -8.3% |
| Amounts payable within one year | 42/48 | €192,666 | €243,249 | +€50,582 | +26.3% |
| Current portion of amounts payable after more than one year | 42 | €16,496 | €16,496 | = | 0.0% |
| Trade debts | 44 | €989 | €989 | = | 0.0% |
| Suppliers | 440/4 | €989 | €989 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €10,832 | +€10,832 | |
| Taxes | 450/3 | - | €10,832 | +€10,832 | |
| Other amounts payable | 47/48 | €175,182 | €214,932 | +€39,750 | +22.7% |
| Non-recurring operating income | 76A | €63,832 | €49,000 | -€14,832 | -23.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €8,092 | €9,905 | +€1,813 | +22.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,795 | €15,125 | +€2,329 | +18.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €30,000 | - | -€30,000 | |
| Other operating charges | 640/8 | €4,611 | €16,044 | +€11,433 | +248% |
| Non-recurring operating charges | 66A | - | €1,060 | +€1,060 | |
| Gross operating margin | 9900 | €55,740 | €39,095 | -€16,645 | -29.9% |
| Operating profit (loss) | 9901 | €8,333 | €6,866 | -€1,468 | -17.6% |
| Financial charges | 65/66B | €3,947 | €6,213 | +€2,266 | +57.4% |
| Recurring financial charges | 65 | €3,687 | €6,213 | +€2,526 | +68.5% |
| Non-recurring financial charges | 66B | €260 | - | -€260 | |
| Profit (loss) for the period before taxes | 9903 | €4,386 | €653 | -€3,733 | -85.1% |
| Profit (loss) for the period | 9904 | €4,386 | €653 | -€3,733 | -85.1% |
| Profit (loss) for the period to be appropriated | 9905 | €4,386 | €653 | -€3,733 | -85.1% |
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 20 October 2026 via checked.be.