NEROCO: 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.
NEROCO
Largest movements
- Tangible fixed assets -€11,304
down €11,304 (-24.5%), from €46,054 to €34,750
- Receivables within one year -€8,797
down €8,797 (-7.4%), from €119,649 to €110,851
of which Trade receivables: -€7,158
- Deferred charges and accrued income +€7,148
up €7,148 (+43.1%), from €16,575 to €23,723
- Current portion of long-term debt -€6,667
down €6,667 (-50.0%), from €13,333 to €6,667
- Short-term financial debts -€3,998
down €3,998 (-41.1%), from €9,724 to €5,726
- Profit (loss) carried forward -€3,678
down €3,678 (-26.6%), from €13,852 to €10,174
- Gross operating margin -€3,958
down €3,958 (-27.1%), from €14,580 to €10,622
- Taxes +€1,299
up €1,299 (+38.9%), from €3,340 to €4,638
- Financial charges -€957
down €957 (-25.9%), from €3,693 to €2,735
- Financial income -€366
down €366 (-5.9%), from €6,194 to €5,828
- Other operating charges +€168
up €168 (+13.1%), from €1,281 to €1,450
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 | €185,487 | €172,879 | -€12,608 | -6.8% |
| Fixed assets | 21/28 | €46,054 | €34,750 | -€11,304 | -24.5% |
| Tangible fixed assets | 22/27 | €46,054 | €34,750 | -€11,304 | -24.5% |
| Other tangible fixed assets | 26 | €46,054 | €34,750 | -€11,304 | -24.5% |
| Current assets | 29/58 | €139,433 | €138,129 | -€1,304 | -0.9% |
| Amounts receivable within one year | 40/41 | €119,649 | €110,851 | -€8,797 | -7.4% |
| Trade receivables | 40 | €7,158 | - | -€7,158 | |
| Other amounts receivable | 41 | €112,490 | €110,851 | -€1,639 | -1.5% |
| Current investments | 50/53 | €880 | €1,251 | +€371 | +42.1% |
| Cash at bank and in hand | 54/58 | €2,329 | €2,304 | -€26 | -1.1% |
| Deferred charges and accrued income | 490/1 | €16,575 | €23,723 | +€7,148 | +43.1% |
| Total equity and liabilities | 10/49 | €185,487 | €172,879 | -€12,608 | -6.8% |
| Equity | 10/15 | €143,717 | €140,039 | -€3,678 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,265 | €111,265 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,503 | €9,503 | = | 0.0% |
| Distributable reserves | 133 | €101,762 | €101,762 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,852 | €10,174 | -€3,678 | -26.6% |
| Amounts payable | 17/49 | €41,770 | €32,840 | -€8,930 | -21.4% |
| Amounts payable within one year | 42/48 | €41,770 | €32,840 | -€8,930 | -21.4% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | €6,667 | -€6,667 | -50.0% |
| Financial debts | 43 | €9,724 | €5,726 | -€3,998 | -41.1% |
| Credit institutions | 430/8 | €9,724 | €5,726 | -€3,998 | -41.1% |
| Trade debts | 44 | €11,154 | €11,671 | +€516 | +4.6% |
| Suppliers | 440/4 | €11,154 | €11,671 | +€516 | +4.6% |
| Taxes, remuneration and social security | 45 | €7,558 | €8,776 | +€1,218 | +16.1% |
| Taxes | 450/3 | €7,558 | €8,776 | +€1,218 | +16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,304 | €11,304 | = | 0.0% |
| Other operating charges | 640/8 | €1,281 | €1,450 | +€168 | +13.1% |
| Gross operating margin | 9900 | €14,580 | €10,622 | -€3,958 | -27.1% |
| Operating profit (loss) | 9901 | €1,995 | -€2,132 | -€4,126 | |
| Financial income | 75/76B | €6,194 | €5,828 | -€366 | -5.9% |
| Recurring financial income | 75 | €6,194 | €5,828 | -€366 | -5.9% |
| Financial charges | 65/66B | €3,693 | €2,735 | -€957 | -25.9% |
| Recurring financial charges | 65 | €3,693 | €2,735 | -€957 | -25.9% |
| Profit (loss) for the period before taxes | 9903 | €4,495 | €960 | -€3,535 | -78.6% |
| Income taxes | 67/77 | €3,340 | €4,638 | +€1,299 | +38.9% |
| Profit (loss) for the period | 9904 | €1,156 | -€3,678 | -€4,834 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,156 | -€3,678 | -€4,834 |
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 6 October 2026 via checked.be.