NETALUX: 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.
NETALUX
Largest movements
- Receivables within one year +€280,559
up €280,559 (+29.3%), from €958,565 to €1.2m
of which Trade receivables: +€322,687
- Tangible fixed assets -€258,543
down €258,543 (-30.6%), from €845,134 to €586,590
- Cash +€176,838
up €176,838 (+492%), from €35,927 to €212,764
mainly Depreciation (+€543,794) and Stocks and contracts (+€104,394)
- Stocks and contracts -€104,394
down €104,394 (-17.8%), from €587,774 to €483,379
of which Stocks: -€132,982
- Intangible fixed assets -€58,328
down €58,328 (-6.6%), from €880,582 to €822,254
- Tax, wage and social debts -€114,160
down €114,160 (-56.4%), from €202,560 to €88,401
of which Taxes: -€95,020
- Current portion of long-term debt -€104,025
down €104,025 (-45.5%), from €228,815 to €124,790
- Trade debts +€92,887
up €92,887 (+20.1%), from €462,093 to €554,980
- Debts after one year +€75,210
up €75,210 (+13.8%), from €546,580 to €621,790
- Short-term financial debts +€75,000
up €75,000 (+33.3%), from €225,000 to €300,000
- Gross operating margin -€254,936
down €254,936 (-19.4%), from €1.3m to €1.1m
- Financial charges -€55,029
down €55,029 (-48.8%), from €112,879 to €57,850
of which Non-recurring financial charges: -€61,335
- Depreciation +€50,693
up €50,693 (+10.3%), from €493,101 to €543,794
- Staff costs +€30,539
up €30,539 (+7.5%), from €408,411 to €438,949
- Taxes -€17,789
down €17,789 (-69.3%), from €25,688 to €7,899
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 | €3,349,134 | €3,377,450 | +€28,316 | +0.8% |
| Fixed assets | 21/28 | €1,742,965 | €1,426,094 | -€316,871 | -18.2% |
| Intangible fixed assets | 21 | €880,582 | €822,254 | -€58,328 | -6.6% |
| Tangible fixed assets | 22/27 | €845,134 | €586,590 | -€258,543 | -30.6% |
| Plant, machinery and equipment | 23 | €131,878 | €57,363 | -€74,515 | -56.5% |
| Furniture and vehicles | 24 | €13,386 | €9,733 | -€3,653 | -27.3% |
| Leasing and similar rights | 25 | €192,044 | €64,643 | -€127,401 | -66.3% |
| Other tangible fixed assets | 26 | €507,826 | €454,851 | -€52,975 | -10.4% |
| Financial fixed assets | 28 | €17,250 | €17,250 | = | 0.0% |
| Current assets | 29/58 | €1,606,168 | €1,951,356 | +€345,187 | +21.5% |
| Stocks and contracts in progress | 3 | €587,774 | €483,379 | -€104,394 | -17.8% |
| Stocks | 30/36 | €587,774 | €454,792 | -€132,982 | -22.6% |
| Contracts in progress | 37 | - | €28,588 | +€28,588 | |
| Amounts receivable within one year | 40/41 | €958,565 | €1,239,123 | +€280,559 | +29.3% |
| Trade receivables | 40 | €877,430 | €1,200,117 | +€322,687 | +36.8% |
| Other amounts receivable | 41 | €81,135 | €39,006 | -€42,129 | -51.9% |
| Cash at bank and in hand | 54/58 | €35,927 | €212,764 | +€176,838 | +492% |
| Deferred charges and accrued income | 490/1 | €23,903 | €16,089 | -€7,815 | -32.7% |
| Total equity and liabilities | 10/49 | €3,349,134 | €3,377,450 | +€28,316 | +0.8% |
| Equity | 10/15 | €1,651,068 | €1,661,019 | +€9,951 | +0.6% |
| Contributions | 10/11 | €461,500 | €461,500 | = | 0.0% |
| Capital | 10 | - | €461,500 | +€461,500 | |
| Issued capital | 100 | - | €461,500 | +€461,500 | |
| Reserves | 13 | €1,189,568 | €1,199,519 | +€9,951 | +0.8% |
| Non-distributable reserves | 130/1 | €46,150 | €46,150 | = | 0.0% |
| Legal reserve | 130 | - | €46,150 | +€46,150 | |
| Other | 1319 | €46,150 | - | -€46,150 | |
| Distributable reserves | 133 | €1,143,418 | €1,153,369 | +€9,951 | +0.9% |
| Amounts payable | 17/49 | €1,698,066 | €1,716,430 | +€18,365 | +1.1% |
| Amounts payable after more than one year | 17 | €546,580 | €621,790 | +€75,210 | +13.8% |
| Financial debts | 170/4 | €546,580 | €621,790 | +€75,210 | +13.8% |
| Amounts payable within one year | 42/48 | €1,139,161 | €1,094,641 | -€44,520 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €228,815 | €124,790 | -€104,025 | -45.5% |
| Financial debts | 43 | €225,000 | €300,000 | +€75,000 | +33.3% |
| Credit institutions | 430/8 | €225,000 | €300,000 | +€75,000 | +33.3% |
| Trade debts | 44 | €462,093 | €554,980 | +€92,887 | +20.1% |
| Suppliers | 440/4 | €462,093 | €554,980 | +€92,887 | +20.1% |
| Taxes, remuneration and social security | 45 | €202,560 | €88,401 | -€114,160 | -56.4% |
| Taxes | 450/3 | €99,320 | €4,301 | -€95,020 | -95.7% |
| Remuneration and social security | 454/9 | €103,240 | €84,100 | -€19,140 | -18.5% |
| Other amounts payable | 47/48 | €20,693 | €26,470 | +€5,777 | +27.9% |
| Accrued charges and deferred income | 492/3 | €12,325 | - | -€12,325 | |
| Remuneration, social security and pensions | 62 | €408,411 | €438,949 | +€30,539 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €493,101 | €543,794 | +€50,693 | +10.3% |
| Other operating charges | 640/8 | €2,185 | €2,695 | +€510 | +23.3% |
| Non-recurring operating charges | 66A | - | €3,206 | +€3,206 | |
| Gross operating margin | 9900 | €1,316,523 | €1,061,587 | -€254,936 | -19.4% |
| Operating profit (loss) | 9901 | €412,826 | €72,943 | -€339,883 | -82.3% |
| Financial income | 75/76B | €926 | €2,757 | +€1,831 | +198% |
| Recurring financial income | 75 | €926 | €2,757 | +€1,831 | +198% |
| Financial charges | 65/66B | €112,879 | €57,850 | -€55,029 | -48.8% |
| Recurring financial charges | 65 | €51,544 | €57,850 | +€6,306 | +12.2% |
| Non-recurring financial charges | 66B | €61,335 | - | -€61,335 | |
| Profit (loss) for the period before taxes | 9903 | €300,873 | €17,850 | -€283,023 | -94.1% |
| Income taxes | 67/77 | €25,688 | €7,899 | -€17,789 | -69.3% |
| Profit (loss) for the period | 9904 | €275,185 | €9,951 | -€265,234 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €275,185 | €9,951 | -€265,234 | -96.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.