NET-MAR: 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-MAR
Largest movements
- Cash +€44,391
up €44,391 (+167.8%), from €26,449 to €70,840
mainly Debts after one year (+€37,030) and Depreciation (+€30,879)
- Tangible fixed assets -€28,792
down €28,792 (-32.1%), from €89,655 to €60,863
- Receivables within one year -€4,949
down €4,949 (-3.4%), from €144,750 to €139,801
of which Trade receivables: -€14,512
- Tax, wage and social debts -€43,271
down €43,271 (-94.9%), from €45,604 to €2,333
of which Remuneration and social security: -€30,319
- Debts after one year +€37,030
up €37,030 (+40.0%), from €92,531 to €129,562
- Contributions +€12,400
up €12,400 (+200.0%), from €6,200 to €18,600
- Profit (loss) carried forward +€4,624
up €4,624 (+3.5%), from €132,852 to €137,476
- Gross operating margin -€230,812
down €230,812 (-13.6%), from €1.7m to €1.5m
- Staff costs -€199,056
down €199,056 (-12.3%), from €1.6m to €1.4m
- Purchases and services -€17,535
down €17,535 (-9.3%), from €188,905 to €171,370
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 | €296,570 | €307,903 | +€11,333 | +3.8% |
| Fixed assets | 21/28 | €114,655 | €85,863 | -€28,792 | -25.1% |
| Tangible fixed assets | 22/27 | €89,655 | €60,863 | -€28,792 | -32.1% |
| Furniture and vehicles | 24 | €89,655 | €60,863 | -€28,792 | -32.1% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €181,915 | €222,040 | +€40,125 | +22.1% |
| Amounts receivable within one year | 40/41 | €144,750 | €139,801 | -€4,949 | -3.4% |
| Trade receivables | 40 | €82,525 | €68,013 | -€14,512 | -17.6% |
| Other amounts receivable | 41 | €62,225 | €71,788 | +€9,563 | +15.4% |
| Cash at bank and in hand | 54/58 | €26,449 | €70,840 | +€44,391 | +167.8% |
| Deferred charges and accrued income | 490/1 | €10,716 | €11,399 | +€683 | +6.4% |
| Total equity and liabilities | 10/49 | €296,570 | €307,903 | +€11,333 | +3.8% |
| Equity | 10/15 | €149,477 | €166,501 | +€17,024 | +11.4% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200.0% |
| Reserves | 13 | €10,425 | €10,425 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,480 | €1,480 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,480 | €1,480 | = | 0.0% |
| Distributable reserves | 133 | €8,945 | €8,945 | = | 0.0% |
| Profit (loss) carried forward | 14 | €132,852 | €137,476 | +€4,624 | +3.5% |
| Amounts payable | 17/49 | €147,093 | €141,402 | -€5,691 | -3.9% |
| Amounts payable after more than one year | 17 | €92,531 | €129,562 | +€37,030 | +40.0% |
| Financial debts | 170/4 | €92,531 | €129,562 | +€37,030 | +40.0% |
| Amounts payable within one year | 42/48 | €54,562 | €11,840 | -€42,721 | -78.3% |
| Trade debts | 44 | €8,957 | €9,507 | +€550 | +6.1% |
| Suppliers | 440/4 | €8,957 | €9,507 | +€550 | +6.1% |
| Taxes, remuneration and social security | 45 | €45,604 | €2,333 | -€43,271 | -94.9% |
| Taxes | 450/3 | €15,285 | €2,333 | -€12,952 | -84.7% |
| Remuneration and social security | 454/9 | €30,319 | - | -€30,319 | |
| Non-recurring operating income | 76A | €11,325 | - | -€11,325 | |
| Goods, raw materials, services and sundry goods | 60/61 | €188,905 | €171,370 | -€17,535 | -9.3% |
| Remuneration, social security and pensions | 62 | €1,618,424 | €1,419,368 | -€199,056 | -12.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,012 | €30,879 | -€132 | -0.4% |
| Other operating charges | 640/8 | €6,652 | €1,052 | -€5,601 | -84.2% |
| Gross operating margin | 9900 | €1,696,568 | €1,465,756 | -€230,812 | -13.6% |
| Operating profit (loss) | 9901 | €40,480 | €14,457 | -€26,023 | -64.3% |
| Financial income | 75/76B | €643 | €28 | -€615 | -95.7% |
| Recurring financial income | 75 | €643 | €28 | -€615 | -95.7% |
| Financial charges | 65/66B | €6,500 | €2,201 | -€4,299 | -66.1% |
| Recurring financial charges | 65 | €6,500 | €2,201 | -€4,299 | -66.1% |
| Profit (loss) for the period before taxes | 9903 | €34,622 | €12,283 | -€22,339 | -64.5% |
| Income taxes | 67/77 | €15,646 | €7,659 | -€7,987 | -51.0% |
| Profit (loss) for the period | 9904 | €18,976 | €4,624 | -€14,352 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,976 | €4,624 | -€14,352 | -75.6% |
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 9 October 2026 via checked.be.