NEROVALI FINANCES: 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.
NEROVALI FINANCES
Largest movements
- Receivables after one year +€24,064
up €24,064 (+21.7%), from €110,967 to €135,031
- Cash -€20,732
down €20,732 (-27.3%), from €75,859 to €55,127
mainly Investment in fixed assets (net) (-€36,253) and Receivables after one year (-€24,064)
- Tangible fixed assets +€20,123
up €20,123 (+91.8%), from €21,909 to €42,032
of which Furniture and vehicles: +€25,993
- Receivables within one year -€14,494
down €14,494 (-13.8%), from €104,890 to €90,396
of which Trade receivables: -€15,991
- Tax, wage and social debts +€6,602
up €6,602 (+44.8%), from €14,733 to €21,335
of which Remuneration and social security: +€6,302
- Reserves +€6,500
up €6,500 (+54.8%), from €11,860 to €18,360
- Staff costs +€12,593
up €12,593 (+25.2%), from €49,882 to €62,475
- Gross operating margin -€12,396
down €12,396 (-10.4%), from €118,970 to €106,574
- Taxes -€3,459
down €3,459 (-21.0%), from €16,459 to €13,000
- Other operating charges +€3,327
up €3,327 (+42.2%), from €7,890 to €11,217
- Depreciation +€2,822
up €2,822 (+21.2%), from €13,308 to €16,130
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 | €321,648 | €333,005 | +€11,358 | +3.5% |
| Fixed assets | 21/28 | €26,409 | €46,532 | +€20,123 | +76.2% |
| Tangible fixed assets | 22/27 | €21,909 | €42,032 | +€20,123 | +91.8% |
| Land and buildings | 22 | €12,639 | €5,505 | -€7,133 | -56.4% |
| Furniture and vehicles | 24 | €826 | €26,818 | +€25,993 | +3,149% |
| Other tangible fixed assets | 26 | €8,445 | €9,708 | +€1,264 | +15.0% |
| Financial fixed assets | 28 | €4,500 | €4,500 | = | 0.0% |
| Current assets | 29/58 | €295,239 | €286,473 | -€8,765 | -3.0% |
| Amounts receivable after more than one year | 29 | €110,967 | €135,031 | +€24,064 | +21.7% |
| Other amounts receivable | 291 | €110,967 | €135,031 | +€24,064 | +21.7% |
| Amounts receivable within one year | 40/41 | €104,890 | €90,396 | -€14,494 | -13.8% |
| Trade receivables | 40 | €104,390 | €88,399 | -€15,991 | -15.3% |
| Other amounts receivable | 41 | €500 | €1,997 | +€1,497 | +299% |
| Cash at bank and in hand | 54/58 | €75,859 | €55,127 | -€20,732 | -27.3% |
| Deferred charges and accrued income | 490/1 | €3,522 | €5,919 | +€2,398 | +68.1% |
| Total equity and liabilities | 10/49 | €321,648 | €333,005 | +€11,358 | +3.5% |
| Equity | 10/15 | €262,857 | €270,403 | +€7,546 | +2.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €18,360 | +€6,500 | +54.8% |
| Distributable reserves | 133 | €11,860 | €18,360 | +€6,500 | +54.8% |
| Profit (loss) carried forward | 14 | €232,397 | €233,443 | +€1,046 | +0.5% |
| Amounts payable | 17/49 | €58,790 | €62,602 | +€3,812 | +6.5% |
| Amounts payable after more than one year | 17 | €35,000 | €35,000 | = | 0.0% |
| Other amounts payable | 178/9 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €23,790 | €27,602 | +€3,812 | +16.0% |
| Trade debts | 44 | €9,057 | €6,267 | -€2,790 | -30.8% |
| Suppliers | 440/4 | €9,057 | €6,267 | -€2,790 | -30.8% |
| Taxes, remuneration and social security | 45 | €14,733 | €21,335 | +€6,602 | +44.8% |
| Taxes | 450/3 | €12,700 | €13,000 | +€300 | +2.4% |
| Remuneration and social security | 454/9 | €2,033 | €8,335 | +€6,302 | +310% |
| Remuneration, social security and pensions | 62 | €49,882 | €62,475 | +€12,593 | +25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,308 | €16,130 | +€2,822 | +21.2% |
| Other operating charges | 640/8 | €7,890 | €11,217 | +€3,327 | +42.2% |
| Gross operating margin | 9900 | €118,970 | €106,574 | -€12,396 | -10.4% |
| Operating profit (loss) | 9901 | €47,890 | €16,753 | -€31,137 | -65.0% |
| Financial income | 75/76B | €4,789 | €6,625 | +€1,836 | +38.3% |
| Recurring financial income | 75 | €4,789 | €6,625 | +€1,836 | +38.3% |
| Financial charges | 65/66B | €1,125 | €2,832 | +€1,707 | +152% |
| Recurring financial charges | 65 | €1,125 | €2,832 | +€1,707 | +152% |
| Profit (loss) for the period before taxes | 9903 | €51,554 | €20,546 | -€31,008 | -60.1% |
| Income taxes | 67/77 | €16,459 | €13,000 | -€3,459 | -21.0% |
| Profit (loss) for the period | 9904 | €35,095 | €7,546 | -€27,549 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €35,095 | €7,546 | -€27,549 | -78.5% |
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 24 October 2026 via checked.be.