Neon Zebra: 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 Zebra
Largest movements
- Receivables within one year -€16,332
down €16,332 (-29.4%), from €55,638 to €39,305
of which Trade receivables: -€35,789
- Cash -€13,506
down €13,506 (-26.7%), from €50,516 to €37,010
mainly Trade debts (-€34,819) and Investment in fixed assets (net) (-€7,113)
- Intangible fixed assets +€3,434
new in 2025: €3,434
- Deferred charges and accrued income +€1,887
new in 2025: €1,887
- Tangible fixed assets +€1,126
up €1,126 (+25.9%), from €4,346 to €5,472
of which Furniture and vehicles: +€1,453
- Reserves +€64,746
new in 2025: €64,746
- Profit (loss) carried forward -€53,939
down €53,939 (-100%), from €53,939 to €0
- Trade debts -€34,819
down €34,819 (-94.7%), from €36,782 to €1,963
- Advances received -€6,056
down €6,056 (-100%), from €6,056 to €0
- Other debts +€5,100
up €5,100 (+40.2%), from €12,684 to €17,784
- Taxes -€8,593
down €8,593 (-68.4%), from €12,567 to €3,974
- Gross operating margin +€7,942
up €7,942 (+44.8%), from €17,728 to €25,670
- Write-downs +€3,484
new in 2025: €3,484
- Financial income -€1,143
down €1,143 (-63.3%), from €1,807 to €664
- Other operating charges +€696
up €696 (+79.3%), from €878 to €1,574
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 | €110,600 | €87,209 | -€23,391 | -21.1% |
| Fixed assets | 21/28 | €4,446 | €9,006 | +€4,560 | +103% |
| Intangible fixed assets | 21 | - | €3,434 | +€3,434 | |
| Tangible fixed assets | 22/27 | €4,346 | €5,472 | +€1,126 | +25.9% |
| Plant, machinery and equipment | 23 | €1,478 | €1,151 | -€327 | -22.1% |
| Furniture and vehicles | 24 | €2,868 | €4,321 | +€1,453 | +50.6% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €106,154 | €78,202 | -€27,951 | -26.3% |
| Amounts receivable within one year | 40/41 | €55,638 | €39,305 | -€16,332 | -29.4% |
| Trade receivables | 40 | €47,942 | €12,153 | -€35,789 | -74.7% |
| Other amounts receivable | 41 | €7,696 | €27,152 | +€19,456 | +253% |
| Cash at bank and in hand | 54/58 | €50,516 | €37,010 | -€13,506 | -26.7% |
| Deferred charges and accrued income | 490/1 | - | €1,887 | +€1,887 | |
| Total equity and liabilities | 10/49 | €110,600 | €87,209 | -€23,391 | -21.1% |
| Equity | 10/15 | €53,940 | €64,747 | +€10,807 | +20.0% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | - | €64,746 | +€64,746 | |
| Distributable reserves | 133 | - | €64,746 | +€64,746 | |
| Profit (loss) carried forward | 14 | €53,939 | €0 | -€53,939 | -100% |
| Amounts payable | 17/49 | €56,659 | €22,461 | -€34,198 | -60.4% |
| Amounts payable within one year | 42/48 | €56,659 | €20,859 | -€35,801 | -63.2% |
| Financial debts | 43 | - | €1,111 | +€1,111 | |
| Credit institutions | 430/8 | - | €1,111 | +€1,111 | |
| Trade debts | 44 | €36,782 | €1,963 | -€34,819 | -94.7% |
| Suppliers | 440/4 | €36,782 | €1,963 | -€34,819 | -94.7% |
| Advances received on contracts in progress | 46 | €6,056 | €0 | -€6,056 | -100% |
| Taxes, remuneration and social security | 45 | €1,137 | €0 | -€1,137 | -100% |
| Taxes | 450/3 | €1,137 | €0 | -€1,137 | -100% |
| Other amounts payable | 47/48 | €12,684 | €17,784 | +€5,100 | +40.2% |
| Accrued charges and deferred income | 492/3 | - | €1,603 | +€1,603 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,666 | €2,553 | -€114 | -4.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,484 | +€3,484 | |
| Other operating charges | 640/8 | €878 | €1,574 | +€696 | +79.3% |
| Gross operating margin | 9900 | €17,728 | €25,670 | +€7,942 | +44.8% |
| Operating profit (loss) | 9901 | €14,184 | €18,060 | +€3,876 | +27.3% |
| Financial income | 75/76B | €1,807 | €664 | -€1,143 | -63.3% |
| Recurring financial income | 75 | €1,807 | €664 | -€1,143 | -63.3% |
| Financial charges | 65/66B | €3,701 | €3,943 | +€242 | +6.5% |
| Recurring financial charges | 65 | €3,701 | €3,943 | +€242 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €12,290 | €14,781 | +€2,491 | +20.3% |
| Income taxes | 67/77 | €12,567 | €3,974 | -€8,593 | -68.4% |
| Profit (loss) for the period | 9904 | -€277 | €10,807 | +€11,084 | |
| Profit (loss) for the period to be appropriated | 9905 | -€277 | €10,807 | +€11,084 |
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.