Net-Com: 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.
Net-Com
Largest movements
- Tangible fixed assets +€7,076
up €7,076 (+11.2%), from €63,150 to €70,226
of which Other tangible fixed assets: +€16,378
- Cash -€5,463
down €5,463 (-27.1%), from €20,191 to €14,729
mainly Investment in fixed assets (net) (-€24,187) and Contributions, distributions and other (-€5,898)
- Receivables within one year -€5,327
down €5,327 (-23.1%), from €23,068 to €17,741
of which Trade receivables: -€4,290
- Stocks and contracts +€5,269
up €5,269 (+103.9%), from €5,073 to €10,342
- Tax, wage and social debts +€5,650
up €5,650 (+64.7%), from €8,728 to €14,378
- Reserves -€4,829
down €4,829 (-12.2%), from €39,661 to €34,832
- Current portion of long-term debt +€2,756
up €2,756 (+20.6%), from €13,348 to €16,104
- Trade debts -€2,069
down €2,069 (-21.6%), from €9,591 to €7,522
- Gross operating margin -€20,405
down €20,405 (-47.3%), from €43,165 to €22,760
- Taxes -€7,321
down €7,321 (-90.0%), from €8,138 to €817
- Depreciation +€4,301
up €4,301 (+33.6%), from €12,810 to €17,111
- Financial charges +€1,060
up €1,060 (+62.0%), from €1,710 to €2,769
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 | €113,158 | €114,717 | +€1,559 | +1.4% |
| Fixed assets | 21/28 | €63,200 | €70,276 | +€7,076 | +11.2% |
| Tangible fixed assets | 22/27 | €63,150 | €70,226 | +€7,076 | +11.2% |
| Plant, machinery and equipment | 23 | €1,089 | €799 | -€290 | -26.6% |
| Furniture and vehicles | 24 | €875 | €2,062 | +€1,187 | +135.8% |
| Leasing and similar rights | 25 | €32,860 | €22,661 | -€10,199 | -31.0% |
| Other tangible fixed assets | 26 | €28,326 | €44,703 | +€16,378 | +57.8% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €49,959 | €44,441 | -€5,518 | -11.0% |
| Stocks and contracts in progress | 3 | €5,073 | €10,342 | +€5,269 | +103.9% |
| Stocks | 30/36 | €5,073 | €10,342 | +€5,269 | +103.9% |
| Amounts receivable within one year | 40/41 | €23,068 | €17,741 | -€5,327 | -23.1% |
| Trade receivables | 40 | €11,296 | €7,006 | -€4,290 | -38.0% |
| Other amounts receivable | 41 | €11,772 | €10,735 | -€1,037 | -8.8% |
| Cash at bank and in hand | 54/58 | €20,191 | €14,729 | -€5,463 | -27.1% |
| Deferred charges and accrued income | 490/1 | €1,626 | €1,629 | +€3 | +0.2% |
| Total equity and liabilities | 10/49 | €113,158 | €114,717 | +€1,559 | +1.4% |
| Equity | 10/15 | €47,861 | €43,032 | -€4,829 | -10.1% |
| Contributions | 10/11 | €8,200 | €8,200 | = | 0.0% |
| Reserves | 13 | €39,661 | €34,832 | -€4,829 | -12.2% |
| Distributable reserves | 133 | €39,661 | €34,832 | -€4,829 | -12.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €65,297 | €71,684 | +€6,388 | +9.8% |
| Amounts payable after more than one year | 17 | €33,629 | €33,681 | +€51 | +0.2% |
| Financial debts | 170/4 | €33,629 | €33,681 | +€51 | +0.2% |
| Amounts payable within one year | 42/48 | €31,667 | €38,004 | +€6,337 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €13,348 | €16,104 | +€2,756 | +20.6% |
| Trade debts | 44 | €9,591 | €7,522 | -€2,069 | -21.6% |
| Suppliers | 440/4 | €9,591 | €7,522 | -€2,069 | -21.6% |
| Taxes, remuneration and social security | 45 | €8,728 | €14,378 | +€5,650 | +64.7% |
| Taxes | 450/3 | €8,728 | €14,378 | +€5,650 | +64.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,810 | €17,111 | +€4,301 | +33.6% |
| Other operating charges | 640/8 | €1,425 | €1,538 | +€112 | +7.9% |
| Gross operating margin | 9900 | €43,165 | €22,760 | -€20,405 | -47.3% |
| Operating profit (loss) | 9901 | €28,930 | €4,111 | -€24,819 | -85.8% |
| Financial income | 75/76B | €575 | €544 | -€31 | -5.4% |
| Recurring financial income | 75 | €575 | €544 | -€31 | -5.4% |
| Financial charges | 65/66B | €1,710 | €2,769 | +€1,060 | +62.0% |
| Recurring financial charges | 65 | €1,710 | €2,769 | +€1,060 | +62.0% |
| Profit (loss) for the period before taxes | 9903 | €27,795 | €1,886 | -€25,910 | -93.2% |
| Income taxes | 67/77 | €8,138 | €817 | -€7,321 | -90.0% |
| Profit (loss) for the period | 9904 | €19,657 | €1,069 | -€18,588 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,657 | €1,069 | -€18,588 | -94.6% |
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.