NEPHRO-AVERRO: what changed
NEPHRO-AVERRO
Largest movements
- Receivables within one year -€113,777
down €113,777 (-88.5%), from €128,515 to €14,739
of which Trade receivables: -€128,515
- Deferred charges and accrued income +€89,598
up €89,598 (+4,616%), from €1,941 to €91,539
- Tangible fixed assets -€28,593
down €28,593 (-38.3%), from €74,638 to €46,045
- Cash -€9,002
down €9,002 (-35.4%), from €25,451 to €16,449
mainly Deferred charges and accrued income (-€89,598) and Contributions, distributions and other (-€63,592)
- Current investments +€8,769
up €8,769 (+17.3%), from €50,700 to €59,469
- Other debts +€69,339
up €69,339 (+635%), from €10,927 to €80,266
- Reserves -€63,592
down €63,592 (-36.3%), from €175,184 to €111,592
- Profit (loss) carried forward -€30,302
down €30,302, from €1,659 to -€28,643
- Debts after one year -€25,395
down €25,395 (-59.8%), from €42,492 to €17,098
- Trade debts -€8,653
down €8,653 (-57.7%), from €14,984 to €6,331
- Gross operating margin -€120,341
down €120,341 (-98.2%), from €122,583 to €2,242
- Taxes -€24,744
down €24,744 (-98.7%), from €25,081 to €337
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €281,245 | €228,241 | -€53,005 | -18.8% |
| Fixed assets | 21/28 | €74,638 | €46,045 | -€28,593 | -38.3% |
| Tangible fixed assets | 22/27 | €74,638 | €46,045 | -€28,593 | -38.3% |
| Furniture and vehicles | 24 | €74,638 | €46,045 | -€28,593 | -38.3% |
| Current assets | 29/58 | €206,607 | €182,196 | -€24,411 | -11.8% |
| Amounts receivable within one year | 40/41 | €128,515 | €14,739 | -€113,777 | -88.5% |
| Trade receivables | 40 | €128,515 | - | -€128,515 | |
| Other amounts receivable | 41 | - | €14,739 | +€14,739 | |
| Current investments | 50/53 | €50,700 | €59,469 | +€8,769 | +17.3% |
| Cash at bank and in hand | 54/58 | €25,451 | €16,449 | -€9,002 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,941 | €91,539 | +€89,598 | +4,616% |
| Total equity and liabilities | 10/49 | €281,245 | €228,241 | -€53,005 | -18.8% |
| Equity | 10/15 | €177,844 | €83,949 | -€93,895 | -52.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €175,184 | €111,592 | -€63,592 | -36.3% |
| Distributable reserves | 133 | €175,184 | €111,592 | -€63,592 | -36.3% |
| Profit (loss) carried forward | 14 | €1,659 | -€28,643 | -€30,302 | |
| Amounts payable | 17/49 | €103,402 | €144,292 | +€40,890 | +39.5% |
| Amounts payable after more than one year | 17 | €42,492 | €17,098 | -€25,395 | -59.8% |
| Financial debts | 170/4 | €42,492 | €17,098 | -€25,395 | -59.8% |
| Amounts payable within one year | 42/48 | €60,910 | €127,194 | +€66,285 | +109% |
| Current portion of amounts payable after more than one year | 42 | €25,095 | €29,178 | +€4,083 | +16.3% |
| Financial debts | 43 | - | €1,516 | +€1,516 | |
| Credit institutions | 430/8 | - | €1,516 | +€1,516 | |
| Trade debts | 44 | €14,984 | €6,331 | -€8,653 | -57.7% |
| Suppliers | 440/4 | €14,984 | €6,331 | -€8,653 | -57.7% |
| Taxes, remuneration and social security | 45 | €9,903 | €9,903 | = | 0.0% |
| Taxes | 450/3 | €9,903 | €9,903 | = | 0.0% |
| Other amounts payable | 47/48 | €10,927 | €80,266 | +€69,339 | +635% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,320 | €28,593 | -€726 | -2.5% |
| Other operating charges | 640/8 | €1,469 | €928 | -€541 | -36.8% |
| Gross operating margin | 9900 | €122,583 | €2,242 | -€120,341 | -98.2% |
| Operating profit (loss) | 9901 | €91,795 | -€27,279 | -€119,074 | |
| Financial income | 75/76B | €598 | €503 | -€95 | -15.9% |
| Recurring financial income | 75 | €598 | €503 | -€95 | -15.9% |
| Financial charges | 65/66B | €3,125 | €3,190 | +€65 | +2.1% |
| Recurring financial charges | 65 | €3,125 | €3,190 | +€65 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €89,269 | -€29,965 | -€119,234 | |
| Income taxes | 67/77 | €25,081 | €337 | -€24,744 | -98.7% |
| Profit (loss) for the period | 9904 | €64,187 | -€30,302 | -€94,490 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,187 | -€30,302 | -€94,490 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.