NERA: 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.
NERA
Largest movements
- Cash -€388,218
down €388,218 (-97.6%), from €397,949 to €9,731
mainly Current investments (-€370,000) and Net result for the year (-€8,415)
- Current investments +€370,000
new in 2025: €370,000
No liability line moved by more than 1% of the balance sheet total.
- Financial income -€6,637
down €6,637 (-54.4%), from €12,211 to €5,574
- Other operating charges -€4,438
down €4,438 (-34.6%), from €12,813 to €8,375
- Gross operating margin +€2,345
up €2,345 (+29.5%), from -€7,942 to -€5,598
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.
Cash bridge derived
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 | €1,293,651 | €1,273,179 | -€20,473 | -1.6% |
| Fixed assets | 21/28 | €888,112 | €888,112 | = | 0.0% |
| Tangible fixed assets | 22/27 | €62,251 | €62,251 | = | 0.0% |
| Land and buildings | 22 | €25,384 | €25,384 | = | 0.0% |
| Plant, machinery and equipment | 23 | €36,867 | €36,867 | = | 0.0% |
| Financial fixed assets | 28 | €825,861 | €825,861 | = | 0.0% |
| Current assets | 29/58 | €405,539 | €385,066 | -€20,473 | -5.0% |
| Amounts receivable within one year | 40/41 | €3,663 | €5,336 | +€1,672 | +45.6% |
| Other amounts receivable | 41 | €3,663 | €5,336 | +€1,672 | +45.6% |
| Current investments | 50/53 | - | €370,000 | +€370,000 | |
| Cash at bank and in hand | 54/58 | €397,949 | €9,731 | -€388,218 | -97.6% |
| Deferred charges and accrued income | 490/1 | €3,926 | €0 | -€3,926 | -100.0% |
| Total equity and liabilities | 10/49 | €1,293,651 | €1,273,179 | -€20,473 | -1.6% |
| Equity | 10/15 | €1,258,160 | €1,249,746 | -€8,415 | -0.7% |
| Contributions | 10/11 | €559,233 | €559,233 | = | 0.0% |
| Capital | 10 | €559,233 | €559,233 | = | 0.0% |
| Issued capital | 100 | €559,233 | €559,233 | = | 0.0% |
| Reserves | 13 | €495,531 | €495,531 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,031 | €11,031 | = | 0.0% |
| Legal reserve | 130 | €11,031 | €11,031 | = | 0.0% |
| Tax-exempt reserves | 132 | €484,499 | €484,499 | = | 0.0% |
| Profit (loss) carried forward | 14 | €203,397 | €194,982 | -€8,415 | -4.1% |
| Amounts payable | 17/49 | €35,491 | €23,433 | -€12,058 | -34.0% |
| Amounts payable within one year | 42/48 | €35,491 | €23,433 | -€12,058 | -34.0% |
| Trade debts | 44 | €5,287 | €0 | -€5,287 | -100.0% |
| Suppliers | 440/4 | €5,287 | €0 | -€5,287 | -100.0% |
| Other amounts payable | 47/48 | €30,204 | €23,433 | -€6,771 | -22.4% |
| Other operating charges | 640/8 | €12,813 | €8,375 | -€4,438 | -34.6% |
| Gross operating margin | 9900 | -€7,942 | -€5,598 | +€2,345 | +29.5% |
| Operating profit (loss) | 9901 | -€20,756 | -€13,973 | +€6,783 | +32.7% |
| Financial income | 75/76B | €12,211 | €5,574 | -€6,637 | -54.4% |
| Recurring financial income | 75 | €12,211 | €5,574 | -€6,637 | -54.4% |
| Financial charges | 65/66B | €44 | €16 | -€28 | -64.2% |
| Recurring financial charges | 65 | €44 | €16 | -€28 | -64.2% |
| Profit (loss) for the period before taxes | 9903 | -€8,589 | -€8,415 | +€174 | +2.0% |
| Income taxes | 67/77 | €4 | €0 | -€4 | -100.0% |
| Profit (loss) for the period | 9904 | -€8,593 | -€8,415 | +€179 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,593 | -€8,415 | +€179 | +2.1% |
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 12 October 2026 via checked.be.