Nerual: 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.
Nerual
Largest movements
- Cash -€66,651
down €66,651 (-79.3%), from €84,097 to €17,446
mainly Contributions, distributions and other (-€84,615) and Other debts (-€79,814)
- Tangible fixed assets -€16,315
down €16,315 (-28.8%), from €56,588 to €40,273
of which Other tangible fixed assets: -€18,084
- Receivables within one year +€11,648
up €11,648 (+34.5%), from €33,714 to €45,361
of which Trade receivables: +€18,453
- Deferred charges and accrued income -€3,333
no longer reported in 2025 (was €3,333)
- Other debts -€79,814
down €79,814 (-86.2%), from €92,626 to €12,812
- Tax, wage and social debts +€13,144
new in 2025: €13,144
- Debts after one year -€11,836
down €11,836 (-22.6%), from €52,354 to €40,518
- Current portion of long-term debt +€5,350
up €5,350 (+46.4%), from €11,531 to €16,881
- Reserves -€1,860
down €1,860 (-100%), from €1,860 to €0
- Gross operating margin -€6,028
down €6,028 (-4.5%), from €133,393 to €127,365
- Depreciation +€2,631
up €2,631 (+15.3%), from €17,249 to €19,880
- Taxes -€1,764
down €1,764 (-7.2%), from €24,442 to €22,678
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 | €177,732 | €103,081 | -€74,651 | -42.0% |
| Fixed assets | 21/28 | €56,588 | €40,273 | -€16,315 | -28.8% |
| Tangible fixed assets | 22/27 | €56,588 | €40,273 | -€16,315 | -28.8% |
| Plant, machinery and equipment | 23 | €2,311 | €1,608 | -€703 | -30.4% |
| Furniture and vehicles | 24 | €1,708 | €4,181 | +€2,473 | +145% |
| Other tangible fixed assets | 26 | €52,568 | €34,484 | -€18,084 | -34.4% |
| Current assets | 29/58 | €121,144 | €62,808 | -€58,336 | -48.2% |
| Amounts receivable within one year | 40/41 | €33,714 | €45,361 | +€11,648 | +34.5% |
| Trade receivables | 40 | €26,317 | €44,770 | +€18,453 | +70.1% |
| Other amounts receivable | 41 | €7,396 | €591 | -€6,805 | -92.0% |
| Cash at bank and in hand | 54/58 | €84,097 | €17,446 | -€66,651 | -79.3% |
| Deferred charges and accrued income | 490/1 | €3,333 | - | -€3,333 | |
| Total equity and liabilities | 10/49 | €177,732 | €103,081 | -€74,651 | -42.0% |
| Equity | 10/15 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €1,860 | €0 | -€1,860 | -100% |
| Amounts payable | 17/49 | €157,272 | €84,481 | -€72,791 | -46.3% |
| Amounts payable after more than one year | 17 | €52,354 | €40,518 | -€11,836 | -22.6% |
| Financial debts | 170/4 | €52,354 | €40,518 | -€11,836 | -22.6% |
| Amounts payable within one year | 42/48 | €104,918 | €43,963 | -€60,955 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | €11,531 | €16,881 | +€5,350 | +46.4% |
| Trade debts | 44 | €761 | €1,126 | +€365 | +47.9% |
| Suppliers | 440/4 | €761 | €1,126 | +€365 | +47.9% |
| Taxes, remuneration and social security | 45 | - | €13,144 | +€13,144 | |
| Taxes | 450/3 | - | €13,144 | +€13,144 | |
| Other amounts payable | 47/48 | €92,626 | €12,812 | -€79,814 | -86.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,249 | €19,880 | +€2,631 | +15.3% |
| Other operating charges | 640/8 | €506 | €120 | -€386 | -76.3% |
| Gross operating margin | 9900 | €133,393 | €127,365 | -€6,028 | -4.5% |
| Operating profit (loss) | 9901 | €115,638 | €107,365 | -€8,273 | -7.2% |
| Financial income | 75/76B | €285 | €210 | -€75 | -26.3% |
| Recurring financial income | 75 | €285 | €210 | -€75 | -26.3% |
| Financial charges | 65/66B | €2,446 | €2,143 | -€303 | -12.4% |
| Recurring financial charges | 65 | €2,446 | €2,143 | -€303 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €113,477 | €105,432 | -€8,045 | -7.1% |
| Income taxes | 67/77 | €24,442 | €22,678 | -€1,764 | -7.2% |
| Profit (loss) for the period | 9904 | €89,035 | €82,755 | -€6,281 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €89,035 | €82,755 | -€6,281 | -7.1% |
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 21 October 2026 via checked.be.