NÉRÉE: what changed
Two fiscal 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.
NÉRÉE
Largest movements
- Cash -€80,624
down €80,624 (-86.7%), from €92,941 to €12,317
mainly Investment in fixed assets (net) (-€127,985) and Stocks and contracts (-€41,257)
- Tangible fixed assets +€70,079
up €70,079 (+18.9%), from €370,112 to €440,191
of which Plant, machinery and equipment: +€123,505
- Stocks and contracts +€41,257
up €41,257 (+30.0%), from €137,670 to €178,927
- Receivables within one year +€32,215
up €32,215 (+14.9%), from €215,817 to €248,032
of which Trade receivables: +€33,918
- Other debts +€34,791
up €34,791 (+8.6%), from €404,637 to €439,428
- Tax, wage and social debts +€19,577
up €19,577 (+16.4%), from €119,319 to €138,896
of which Remuneration and social security: +€19,577
- Profit (loss) carried forward +€12,204
up €12,204 (+9.9%), from €123,428 to €135,632
- Debts after one year -€9,403
down €9,403 (-9.9%), from €95,225 to €85,822
- Purchases and services -€161,316
down €161,316 (-33.8%), from €476,621 to €315,305
- Turnover -€52,761
down €52,761 (-12.3%), from €427,756 to €374,995
- Gross operating margin -€17,581
down €17,581 (-16.4%), from €107,466 to €89,885
- Depreciation +€11,540
up €11,540 (+25.4%), from €45,391 to €56,931
- Taxes -€11,070
no longer reported in 2025 (was €11,070)
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 | €817,159 | €882,313 | +€65,154 | +8.0% |
| Fixed assets | 21/28 | €370,168 | €441,222 | +€71,054 | +19.2% |
| Tangible fixed assets | 22/27 | €370,112 | €440,191 | +€70,079 | +18.9% |
| Land and buildings | 22 | €328,861 | €282,801 | -€46,060 | -14.0% |
| Plant, machinery and equipment | 23 | €18,920 | €142,425 | +€123,505 | +652.8% |
| Furniture and vehicles | 24 | €22,331 | €14,965 | -€7,366 | -33.0% |
| Financial fixed assets | 28 | €56 | €1,031 | +€975 | +1741.1% |
| Current assets | 29/58 | €446,991 | €441,091 | -€5,900 | -1.3% |
| Stocks and contracts in progress | 3 | €137,670 | €178,927 | +€41,257 | +30.0% |
| Stocks | 30/36 | €137,670 | €178,927 | +€41,257 | +30.0% |
| Amounts receivable within one year | 40/41 | €215,817 | €248,032 | +€32,215 | +14.9% |
| Trade receivables | 40 | €213,817 | €247,735 | +€33,918 | +15.9% |
| Other amounts receivable | 41 | €2,000 | €297 | -€1,703 | -85.2% |
| Cash at bank and in hand | 54/58 | €92,941 | €12,317 | -€80,624 | -86.7% |
| Deferred charges and accrued income | 490/1 | €563 | €1,815 | +€1,252 | +222.4% |
| Total equity and liabilities | 10/49 | €817,159 | €882,313 | +€65,154 | +8.0% |
| Equity | 10/15 | €153,316 | €165,520 | +€12,204 | +8.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €11,296 | €11,296 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,437 | €9,437 | = | 0.0% |
| Profit (loss) carried forward | 14 | €123,428 | €135,632 | +€12,204 | +9.9% |
| Amounts payable | 17/49 | €663,843 | €716,793 | +€52,950 | +8.0% |
| Amounts payable after more than one year | 17 | €95,225 | €85,822 | -€9,403 | -9.9% |
| Financial debts | 170/4 | €95,225 | €85,822 | -€9,403 | -9.9% |
| Amounts payable within one year | 42/48 | €568,618 | €630,971 | +€62,353 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €28,217 | €35,221 | +€7,004 | +24.8% |
| Trade debts | 44 | €16,445 | €17,426 | +€981 | +6.0% |
| Suppliers | 440/4 | €16,445 | €17,426 | +€981 | +6.0% |
| Taxes, remuneration and social security | 45 | €119,319 | €138,896 | +€19,577 | +16.4% |
| Taxes | 450/3 | €11,270 | €11,270 | = | 0.0% |
| Remuneration and social security | 454/9 | €108,049 | €127,626 | +€19,577 | +18.1% |
| Other amounts payable | 47/48 | €404,637 | €439,428 | +€34,791 | +8.6% |
| Turnover | 70 | €427,756 | €374,995 | -€52,761 | -12.3% |
| Goods, raw materials, services and sundry goods | 60/61 | €476,621 | €315,305 | -€161,316 | -33.8% |
| Remuneration, social security and pensions | 62 | €11,998 | €11,323 | -€675 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,391 | €56,931 | +€11,540 | +25.4% |
| Other operating charges | 640/8 | €5,343 | €5,098 | -€245 | -4.6% |
| Non-recurring operating charges | 66A | €63 | - | -€63 | |
| Gross operating margin | 9900 | €107,466 | €89,885 | -€17,581 | -16.4% |
| Operating profit (loss) | 9901 | €44,671 | €16,533 | -€28,138 | -63.0% |
| Financial income | 75/76B | €3,621 | €3,114 | -€507 | -14.0% |
| Recurring financial income | 75 | €3,621 | €3,114 | -€507 | -14.0% |
| Financial charges | 65/66B | €8,005 | €7,443 | -€562 | -7.0% |
| Recurring financial charges | 65 | €8,005 | €7,443 | -€562 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €40,287 | €12,204 | -€28,083 | -69.7% |
| Income taxes | 67/77 | €11,070 | - | -€11,070 | |
| Profit (loss) for the period | 9904 | €29,217 | €12,204 | -€17,013 | -58.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,217 | €12,204 | -€17,013 | -58.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.