NEON ALEX: 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.
NEON ALEX
Largest movements
- Receivables within one year +€1.0m
up €1.0m (+229%), from €440,257 to €1.4m
of which Other amounts receivable: +€1.0m
- Current investments -€350,000
down €350,000 (-43.8%), from €800,000 to €450,000
- Cash -€186,402
down €186,402 (-62.8%), from €296,591 to €110,189
mainly Contributions, distributions and other (-€1.2m) and Receivables within one year (-€1.0m)
- Tangible fixed assets -€26,346
down €26,346 (-9.3%), from €283,414 to €257,069
of which Plant, machinery and equipment: -€38,688
- Other debts +€766,800
up €766,800 (+156%), from €490,060 to €1.3m
- Trade debts -€179,694
down €179,694 (-49.2%), from €365,163 to €185,470
- Reserves -€136,066
down €136,066 (-21.2%), from €640,740 to €504,675
of which Tax-exempt reserves: -€336,066
- Profit (loss) carried forward -€98,524
down €98,524 (-89.9%), from €109,629 to €11,105
- Short-term financial debts +€55,294
up €55,294 (+69.1%), from €80,000 to €135,294
- Gross operating margin +€401,426
up €401,426 (+26.4%), from €1.5m to €1.9m
- Taxes +€55,471
up €55,471 (+21.5%), from €258,190 to €313,661
- Financial income -€52,987
down €52,987 (-67.6%), from €78,377 to €25,390
- Depreciation +€42,210
up €42,210 (+43.1%), from €97,905 to €140,114
- Other operating charges +€21,793
up €21,793 (+199%), from €10,940 to €32,733
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 | €1,889,486 | €2,335,013 | +€445,527 | +23.6% |
| Fixed assets | 21/28 | €283,464 | €257,118 | -€26,346 | -9.3% |
| Tangible fixed assets | 22/27 | €283,414 | €257,069 | -€26,346 | -9.3% |
| Plant, machinery and equipment | 23 | €110,144 | €71,456 | -€38,688 | -35.1% |
| Furniture and vehicles | 24 | €113,586 | €129,689 | +€16,102 | +14.2% |
| Other tangible fixed assets | 26 | €59,684 | €55,924 | -€3,760 | -6.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €1,606,022 | €2,077,895 | +€471,873 | +29.4% |
| Stocks and contracts in progress | 3 | €59,116 | €43,843 | -€15,273 | -25.8% |
| Stocks | 30/36 | €59,116 | €43,843 | -€15,273 | -25.8% |
| Amounts receivable within one year | 40/41 | €440,257 | €1,448,816 | +€1.0m | +229% |
| Trade receivables | 40 | €280,730 | €273,685 | -€7,044 | -2.5% |
| Other amounts receivable | 41 | €159,528 | €1,175,131 | +€1.0m | +637% |
| Current investments | 50/53 | €800,000 | €450,000 | -€350,000 | -43.8% |
| Cash at bank and in hand | 54/58 | €296,591 | €110,189 | -€186,402 | -62.8% |
| Deferred charges and accrued income | 490/1 | €10,058 | €25,047 | +€14,990 | +149% |
| Total equity and liabilities | 10/49 | €1,889,486 | €2,335,013 | +€445,527 | +23.6% |
| Equity | 10/15 | €764,860 | €530,271 | -€234,589 | -30.7% |
| Contributions | 10/11 | €14,491 | €14,491 | = | 0.0% |
| Reserves | 13 | €640,740 | €504,675 | -€136,066 | -21.2% |
| Non-distributable reserves | 130/1 | €1,449 | €1,449 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,449 | €1,449 | = | 0.0% |
| Tax-exempt reserves | 132 | €639,291 | €303,225 | -€336,066 | -52.6% |
| Distributable reserves | 133 | - | €200,000 | +€200,000 | |
| Profit (loss) carried forward | 14 | €109,629 | €11,105 | -€98,524 | -89.9% |
| Provisions and deferred taxes | 16 | €23,647 | €9,858 | -€13,789 | -58.3% |
| Deferred taxes | 168 | €23,647 | €9,858 | -€13,789 | -58.3% |
| Amounts payable | 17/49 | €1,100,978 | €1,794,883 | +€693,905 | +63.0% |
| Amounts payable after more than one year | 17 | €67,133 | €92,571 | +€25,438 | +37.9% |
| Financial debts | 170/4 | €67,133 | €92,571 | +€25,438 | +37.9% |
| Amounts payable within one year | 42/48 | €1,033,845 | €1,702,312 | +€668,467 | +64.7% |
| Current portion of amounts payable after more than one year | 42 | €23,761 | €38,721 | +€14,960 | +63.0% |
| Financial debts | 43 | €80,000 | €135,294 | +€55,294 | +69.1% |
| Credit institutions | 430/8 | €80,000 | €135,294 | +€55,294 | +69.1% |
| Trade debts | 44 | €365,163 | €185,470 | -€179,694 | -49.2% |
| Suppliers | 440/4 | €365,163 | €185,470 | -€179,694 | -49.2% |
| Taxes, remuneration and social security | 45 | €74,861 | €85,968 | +€11,107 | +14.8% |
| Taxes | 450/3 | €29,717 | €47,370 | +€17,653 | +59.4% |
| Remuneration and social security | 454/9 | €45,144 | €38,599 | -€6,546 | -14.5% |
| Other amounts payable | 47/48 | €490,060 | €1,256,860 | +€766,800 | +156% |
| Remuneration, social security and pensions | 62 | €518,569 | €532,843 | +€14,275 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97,905 | €140,114 | +€42,210 | +43.1% |
| Other operating charges | 640/8 | €10,940 | €32,733 | +€21,793 | +199% |
| Gross operating margin | 9900 | €1,519,545 | €1,920,971 | +€401,426 | +26.4% |
| Operating profit (loss) | 9901 | €892,131 | €1,215,280 | +€323,149 | +36.2% |
| Financial income | 75/76B | €78,377 | €25,390 | -€52,987 | -67.6% |
| Recurring financial income | 75 | €78,377 | €25,390 | -€52,987 | -67.6% |
| Financial charges | 65/66B | €7,617 | €15,386 | +€7,769 | +102% |
| Recurring financial charges | 65 | €7,617 | €15,386 | +€7,769 | +102% |
| Profit (loss) for the period before taxes | 9903 | €962,891 | €1,225,283 | +€262,393 | +27.3% |
| Transfer from deferred taxes | 780 | €13,789 | €13,789 | = | 0.0% |
| Income taxes | 67/77 | €258,190 | €313,661 | +€55,471 | +21.5% |
| Profit (loss) for the period | 9904 | €718,489 | €925,411 | +€206,922 | +28.8% |
| Transfer from tax-exempt reserves | 789 | €41,366 | €336,066 | +€294,700 | +712% |
| Profit (loss) for the period to be appropriated | 9905 | €759,855 | €1,261,476 | +€501,622 | +66.0% |
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 27 October 2026 via checked.be.