NET-Worx: 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-Worx
Largest movements
- Receivables within one year +€254,659
up €254,659 (+136%), from €187,678 to €442,338
of which Trade receivables: +€266,562
- Cash -€186,611
down €186,611 (-75.8%), from €246,169 to €59,558
mainly Receivables within one year (-€254,659) and Debts after one year (-€62,879)
- Intangible fixed assets -€68,372
down €68,372 (-53.5%), from €127,915 to €59,543
- Stocks and contracts -€15,672
down €15,672 (-23.5%), from €66,797 to €51,124
of which Stocks: -€59,001
- Tangible fixed assets +€13,884
up €13,884 (+55.0%), from €25,252 to €39,135
of which Furniture and vehicles: +€11,514
- Trade debts +€103,867
up €103,867 (+73.7%), from €141,013 to €244,880
- Debts after one year -€62,879
down €62,879 (-51.0%), from €123,317 to €60,438
- Current portion of long-term debt -€34,209
down €34,209 (-35.2%), from €97,093 to €62,884
- Short-term financial debts +€9,619
up €9,619 (+24.7%), from €38,878 to €48,497
- Tax, wage and social debts -€8,345
down €8,345 (-6.4%), from €129,793 to €121,448
of which Remuneration and social security: -€12,813
- Gross operating margin +€182,062
up €182,062 (+26.8%), from €678,362 to €860,424
- Staff costs +€174,788
up €174,788 (+30.5%), from €572,429 to €747,216
- Depreciation -€20,430
down €20,430 (-19.5%), from €104,672 to €84,242
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 | €665,128 | €670,124 | +€4,997 | +0.8% |
| Fixed assets | 21/28 | €164,484 | €110,043 | -€54,441 | -33.1% |
| Intangible fixed assets | 21 | €127,915 | €59,543 | -€68,372 | -53.5% |
| Tangible fixed assets | 22/27 | €25,252 | €39,135 | +€13,884 | +55.0% |
| Plant, machinery and equipment | 23 | - | €2,370 | +€2,370 | |
| Furniture and vehicles | 24 | €25,252 | €36,765 | +€11,514 | +45.6% |
| Financial fixed assets | 28 | €11,317 | €11,365 | +€48 | +0.4% |
| Current assets | 29/58 | €500,644 | €560,082 | +€59,438 | +11.9% |
| Stocks and contracts in progress | 3 | €66,797 | €51,124 | -€15,672 | -23.5% |
| Stocks | 30/36 | €65,612 | €6,611 | -€59,001 | -89.9% |
| Contracts in progress | 37 | €1,185 | €44,514 | +€43,329 | +3,656% |
| Amounts receivable within one year | 40/41 | €187,678 | €442,338 | +€254,659 | +136% |
| Trade receivables | 40 | €158,692 | €425,254 | +€266,562 | +168% |
| Other amounts receivable | 41 | €28,986 | €17,084 | -€11,902 | -41.1% |
| Cash at bank and in hand | 54/58 | €246,169 | €59,558 | -€186,611 | -75.8% |
| Deferred charges and accrued income | 490/1 | €0 | €7,062 | +€7,062 | |
| Total equity and liabilities | 10/49 | €665,128 | €670,124 | +€4,997 | +0.8% |
| Equity | 10/15 | €122,227 | €119,862 | -€2,364 | -1.9% |
| Contributions | 10/11 | €78,600 | €78,600 | = | 0.0% |
| Reserves | 13 | €43,627 | €41,262 | -€2,364 | -5.4% |
| Distributable reserves | 133 | €43,627 | €41,262 | -€2,364 | -5.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €542,901 | €550,262 | +€7,361 | +1.4% |
| Amounts payable after more than one year | 17 | €123,317 | €60,438 | -€62,879 | -51.0% |
| Financial debts | 170/4 | €123,317 | €60,438 | -€62,879 | -51.0% |
| Amounts payable within one year | 42/48 | €406,777 | €477,709 | +€70,932 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €97,093 | €62,884 | -€34,209 | -35.2% |
| Financial debts | 43 | €38,878 | €48,497 | +€9,619 | +24.7% |
| Credit institutions | 430/8 | €38,878 | €48,497 | +€9,619 | +24.7% |
| Trade debts | 44 | €141,013 | €244,880 | +€103,867 | +73.7% |
| Suppliers | 440/4 | €141,013 | €244,880 | +€103,867 | +73.7% |
| Taxes, remuneration and social security | 45 | €129,793 | €121,448 | -€8,345 | -6.4% |
| Taxes | 450/3 | €23,910 | €28,378 | +€4,468 | +18.7% |
| Remuneration and social security | 454/9 | €105,883 | €93,070 | -€12,813 | -12.1% |
| Accrued charges and deferred income | 492/3 | €12,806 | €12,115 | -€692 | -5.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €572,429 | €747,216 | +€174,788 | +30.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,672 | €84,242 | -€20,430 | -19.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,395 | €3,266 | -€1,129 | -25.7% |
| Gross operating margin | 9900 | €678,362 | €860,424 | +€182,062 | +26.8% |
| Operating profit (loss) | 9901 | -€3,133 | €25,700 | +€28,833 | |
| Financial income | 75/76B | €954 | €573 | -€381 | -40.0% |
| Recurring financial income | 75 | €954 | €573 | -€381 | -40.0% |
| Financial charges | 65/66B | €16,878 | €16,952 | +€73 | +0.4% |
| Recurring financial charges | 65 | €16,878 | €16,952 | +€73 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,057 | €9,322 | +€28,379 | |
| Income taxes | 67/77 | €8,252 | €11,686 | +€3,434 | +41.6% |
| Profit (loss) for the period | 9904 | -€27,309 | -€2,364 | +€24,945 | +91.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,309 | -€2,364 | +€24,945 | +91.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.