NEREM: 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.
NEREM
Largest movements
- Receivables within one year -€137,816
down €137,816 (-20.0%), from €688,432 to €550,616
of which Other amounts receivable: -€174,116
- Cash +€78,543
up €78,543 (+13.8%), from €569,064 to €647,607
mainly Net result for the year (+€165,970) and Receivables within one year (+€137,816)
- Tangible fixed assets +€54,552
up €54,552 (+22.5%), from €242,500 to €297,052
- Other debts -€172,164
down €172,164 (-77.5%), from €222,253 to €50,089
- Reserves +€165,970
up €165,970 (+14.2%), from €1.2m to €1.3m
of which Distributable reserves: +€165,970
- Gross operating margin +€81,147
up €81,147 (+52.2%), from €155,463 to €236,611
- Taxes +€24,243
up €24,243 (+52.1%), from €46,543 to €70,786
- Financial charges +€6,443
up €6,443 (+746%), from €864 to €7,307
- Other operating charges -€3,092
down €3,092 (-46.2%), from €6,691 to €3,599
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 | €2,873,852 | €2,872,281 | -€1,571 | -0.1% |
| Fixed assets | 21/28 | €426,025 | €480,578 | +€54,552 | +12.8% |
| Tangible fixed assets | 22/27 | €242,500 | €297,052 | +€54,552 | +22.5% |
| Land and buildings | 22 | €242,500 | €297,052 | +€54,552 | +22.5% |
| Financial fixed assets | 28 | €183,525 | €183,525 | = | 0.0% |
| Current assets | 29/58 | €2,447,826 | €2,391,703 | -€56,123 | -2.3% |
| Amounts receivable within one year | 40/41 | €688,432 | €550,616 | -€137,816 | -20.0% |
| Trade receivables | 40 | €36,300 | €72,600 | +€36,300 | +100% |
| Other amounts receivable | 41 | €652,132 | €478,016 | -€174,116 | -26.7% |
| Current investments | 50/53 | €1,190,331 | €1,193,480 | +€3,149 | +0.3% |
| Cash at bank and in hand | 54/58 | €569,064 | €647,607 | +€78,543 | +13.8% |
| Total equity and liabilities | 10/49 | €2,873,852 | €2,872,281 | -€1,571 | -0.1% |
| Equity | 10/15 | €2,642,122 | €2,808,092 | +€165,970 | +6.3% |
| Contributions | 10/11 | €1,471,973 | €1,471,973 | = | 0.0% |
| Capital | 10 | €1,471,973 | €1,471,973 | = | 0.0% |
| Issued capital | 100 | €1,471,973 | €1,471,973 | = | 0.0% |
| Reserves | 13 | €1,170,148 | €1,336,119 | +€165,970 | +14.2% |
| Non-distributable reserves | 130/1 | €207,450 | €207,450 | = | 0.0% |
| Legal reserve | 130 | €207,450 | €207,450 | = | 0.0% |
| Distributable reserves | 133 | €962,698 | €1,128,669 | +€165,970 | +17.2% |
| Amounts payable | 17/49 | €231,730 | €64,188 | -€167,542 | -72.3% |
| Amounts payable within one year | 42/48 | €231,730 | €64,188 | -€167,542 | -72.3% |
| Trade debts | 44 | €369 | €1,200 | +€830 | +225% |
| Suppliers | 440/4 | €369 | €1,200 | +€830 | +225% |
| Taxes, remuneration and social security | 45 | €9,108 | €12,900 | +€3,792 | +41.6% |
| Taxes | 450/3 | €9,108 | €6,761 | -€2,347 | -25.8% |
| Remuneration and social security | 454/9 | €0 | €6,139 | +€6,139 | |
| Other amounts payable | 47/48 | €222,253 | €50,089 | -€172,164 | -77.5% |
| Other operating charges | 640/8 | €6,691 | €3,599 | -€3,092 | -46.2% |
| Gross operating margin | 9900 | €155,463 | €236,611 | +€81,147 | +52.2% |
| Operating profit (loss) | 9901 | €148,772 | €233,012 | +€84,239 | +56.6% |
| Financial income | 75/76B | €12,655 | €11,052 | -€1,603 | -12.7% |
| Recurring financial income | 75 | €12,655 | €11,052 | -€1,603 | -12.7% |
| Financial charges | 65/66B | €864 | €7,307 | +€6,443 | +746% |
| Recurring financial charges | 65 | €864 | €7,307 | +€6,443 | +746% |
| Profit (loss) for the period before taxes | 9903 | €160,564 | €236,757 | +€76,193 | +47.5% |
| Income taxes | 67/77 | €46,543 | €70,786 | +€24,243 | +52.1% |
| Profit (loss) for the period | 9904 | €114,021 | €165,970 | +€51,950 | +45.6% |
| Profit (loss) for the period to be appropriated | 9905 | €114,021 | €165,970 | +€51,950 | +45.6% |
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 18 October 2026 via checked.be.