NET.M@N: 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.
NET.M@N
Largest movements
- Intangible fixed assets +€145,785
new in 2025: €145,785
- Receivables within one year +€18,370
up €18,370 (+3,058%), from €601 to €18,971
of which Trade receivables: +€18,971
- Cash +€2,335
up €2,335 (+54.3%), from €4,296 to €6,631
mainly Debts after one year (+€130,845) and Current portion of long-term debt (+€20,737)
- Debts after one year +€130,845
new in 2025: €130,845
- Current portion of long-term debt +€20,737
new in 2025: €20,737
- Profit (loss) carried forward +€17,477
up €17,477 (+74.7%), from -€23,411 to -€5,934
- Other debts -€3,822
down €3,822 (-88.0%), from €4,343 to €521
- Tax, wage and social debts +€3,074
up €3,074, from €0 to €3,074
- Gross operating margin +€56,275
up €56,275, from -€16,759 to €39,517
- Depreciation +€14,215
up €14,215 (+10,770%), from €132 to €14,347
- Financial charges +€6,451
up €6,451 (+2,455%), from €263 to €6,713
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 | €5,154 | €171,511 | +€166,358 | +3,228% |
| Fixed assets | 21/28 | €257 | €145,909 | +€145,653 | +56,752% |
| Intangible fixed assets | 21 | - | €145,785 | +€145,785 | |
| Tangible fixed assets | 22/27 | €257 | €125 | -€132 | -51.4% |
| Plant, machinery and equipment | 23 | €257 | €125 | -€132 | -51.4% |
| Current assets | 29/58 | €4,897 | €25,602 | +€20,705 | +423% |
| Amounts receivable within one year | 40/41 | €601 | €18,971 | +€18,370 | +3,058% |
| Trade receivables | 40 | €0 | €18,971 | +€18,971 | |
| Other amounts receivable | 41 | €601 | €0 | -€601 | -100% |
| Cash at bank and in hand | 54/58 | €4,296 | €6,631 | +€2,335 | +54.3% |
| Total equity and liabilities | 10/49 | €5,154 | €171,511 | +€166,358 | +3,228% |
| Equity | 10/15 | -€2,960 | €14,517 | +€17,477 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €0 | -€1,859 | -100% |
| Other | 1319 | - | €1,859 | +€1,859 | |
| Profit (loss) carried forward | 14 | -€23,411 | -€5,934 | +€17,477 | +74.7% |
| Amounts payable | 17/49 | €8,114 | €156,994 | +€148,881 | +1,835% |
| Amounts payable after more than one year | 17 | - | €130,845 | +€130,845 | |
| Financial debts | 170/4 | - | €130,845 | +€130,845 | |
| Amounts payable within one year | 42/48 | €8,114 | €26,150 | +€18,036 | +222% |
| Current portion of amounts payable after more than one year | 42 | - | €20,737 | +€20,737 | |
| Trade debts | 44 | €3,771 | €1,818 | -€1,953 | -51.8% |
| Suppliers | 440/4 | €3,771 | €1,818 | -€1,953 | -51.8% |
| Taxes, remuneration and social security | 45 | €0 | €3,074 | +€3,074 | |
| Taxes | 450/3 | €0 | €3,074 | +€3,074 | |
| Other amounts payable | 47/48 | €4,343 | €521 | -€3,822 | -88.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132 | €14,347 | +€14,215 | +10,770% |
| Other operating charges | 640/8 | €1,253 | €979 | -€273 | -21.8% |
| Gross operating margin | 9900 | -€16,759 | €39,517 | +€56,275 | |
| Operating profit (loss) | 9901 | -€18,143 | €24,190 | +€42,333 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €263 | €6,713 | +€6,451 | +2,455% |
| Recurring financial charges | 65 | €263 | €6,713 | +€6,451 | +2,455% |
| Profit (loss) for the period before taxes | 9903 | -€18,405 | €17,477 | +€35,882 | |
| Profit (loss) for the period | 9904 | -€18,405 | €17,477 | +€35,882 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,405 | €17,477 | +€35,882 |
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 14 October 2026 via checked.be.