NEPEC: 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.
NEPEC
Largest movements
- Receivables within one year -€31,000
down €31,000 (-40.9%), from €75,785 to €44,785
- Tangible fixed assets -€24,413
down €24,413 (-3.0%), from €825,684 to €801,271
of which Land and buildings: -€47,732
- Cash +€10,732
up €10,732 (+581%), from €1,848 to €12,581
mainly Depreciation (+€52,198) and Other debts (+€31,280)
- Profit (loss) carried forward -€57,338
down €57,338 (-42.6%), from -€134,716 to -€192,054
- Other debts +€31,280
up €31,280 (+6.1%), from €515,651 to €546,931
- Trade debts -€17,061
down €17,061 (-39.1%), from €43,675 to €26,614
- Gross operating margin -€15,521
down €15,521 (-35.5%), from €43,679 to €28,158
- Financial charges -€3,748
down €3,748 (-21.7%), from €17,289 to €13,541
- Other operating charges -€3,242
down €3,242 (-37.9%), from €8,565 to €5,323
- Depreciation +€917
up €917 (+1.8%), from €51,282 to €52,198
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 | €934,167 | €885,156 | -€49,011 | -5.2% |
| Fixed assets | 21/28 | €825,684 | €801,271 | -€24,413 | -3.0% |
| Tangible fixed assets | 22/27 | €825,684 | €801,271 | -€24,413 | -3.0% |
| Land and buildings | 22 | €774,194 | €726,462 | -€47,732 | -6.2% |
| Plant, machinery and equipment | 23 | - | €25,153 | +€25,153 | |
| Furniture and vehicles | 24 | €49,365 | €49,365 | = | 0.0% |
| Other tangible fixed assets | 26 | €2,124 | €290 | -€1,834 | -86.3% |
| Current assets | 29/58 | €108,483 | €83,885 | -€24,598 | -22.7% |
| Stocks and contracts in progress | 3 | €23,210 | €23,210 | = | 0.0% |
| Stocks | 30/36 | €23,210 | €23,210 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,785 | €44,785 | -€31,000 | -40.9% |
| Other amounts receivable | 41 | €75,785 | €44,785 | -€31,000 | -40.9% |
| Cash at bank and in hand | 54/58 | €1,848 | €12,581 | +€10,732 | +581% |
| Deferred charges and accrued income | 490/1 | €7,640 | €3,310 | -€4,331 | -56.7% |
| Total equity and liabilities | 10/49 | €934,167 | €885,156 | -€49,011 | -5.2% |
| Equity | 10/15 | -€31,396 | -€90,491 | -€59,095 | -188% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €41,320 | €39,563 | -€1,757 | -4.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €6,200 | +€6,200 | |
| Tax-exempt reserves | 132 | €35,120 | €33,363 | -€1,757 | -5.0% |
| Profit (loss) carried forward | 14 | -€134,716 | -€192,054 | -€57,338 | -42.6% |
| Provisions and deferred taxes | 16 | €19,481 | €19,042 | -€439 | -2.3% |
| Deferred taxes | 168 | €19,481 | €19,042 | -€439 | -2.3% |
| Amounts payable | 17/49 | €946,082 | €956,605 | +€10,524 | +1.1% |
| Amounts payable after more than one year | 17 | €334,801 | €326,014 | -€8,787 | -2.6% |
| Financial debts | 170/4 | €334,801 | €326,014 | -€8,787 | -2.6% |
| Amounts payable within one year | 42/48 | €575,094 | €589,576 | +€14,482 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €14,269 | €14,532 | +€263 | +1.8% |
| Financial debts | 43 | €1,500 | €1,500 | = | 0.0% |
| Credit institutions | 430/8 | €1,500 | €1,500 | = | 0.0% |
| Trade debts | 44 | €43,675 | €26,614 | -€17,061 | -39.1% |
| Suppliers | 440/4 | €43,675 | €26,614 | -€17,061 | -39.1% |
| Other amounts payable | 47/48 | €515,651 | €546,931 | +€31,280 | +6.1% |
| Accrued charges and deferred income | 492/3 | €36,186 | €41,015 | +€4,829 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,282 | €52,198 | +€917 | +1.8% |
| Other operating charges | 640/8 | €8,565 | €5,323 | -€3,242 | -37.9% |
| Non-recurring operating charges | 66A | - | €16,630 | +€16,630 | |
| Gross operating margin | 9900 | €43,679 | €28,158 | -€15,521 | -35.5% |
| Operating profit (loss) | 9901 | -€16,168 | -€45,994 | -€29,826 | -184% |
| Financial charges | 65/66B | €17,289 | €13,541 | -€3,748 | -21.7% |
| Recurring financial charges | 65 | €17,289 | €13,541 | -€3,748 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,457 | -€59,535 | -€26,078 | -77.9% |
| Transfer from deferred taxes | 780 | €439 | €439 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€33,018 | -€59,095 | -€26,078 | -79.0% |
| Transfer from tax-exempt reserves | 789 | €1,757 | €1,757 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,260 | -€57,338 | -€26,078 | -83.4% |
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 15 October 2026 via checked.be.