Netced: what changed
Netced
Largest movements
- Cash -€100,966
down €100,966 (-43.3%), from €233,275 to €132,309
mainly Contributions, distributions and other (-€42,409) and Other debts (-€40,036)
- Receivables within one year +€7,808
up €7,808 (+14.3%), from €54,456 to €62,264
of which Trade receivables: +€7,808
- Reserves -€42,409
down €42,409 (-19.6%), from €215,962 to €173,553
- Other debts -€40,036
down €40,036 (-27.9%), from €143,755 to €103,719
- Debts after one year -€9,417
down €9,417 (-13.5%), from €70,007 to €60,590
- Trade debts +€8,847
up €8,847 (+377%), from €2,347 to €11,194
- Tax, wage and social debts -€6,559
down €6,559 (-36.8%), from €17,819 to €11,260
of which Taxes: -€6,597
- Gross operating margin -€63,898
down €63,898 (-95.1%), from €67,169 to €3,271
- Taxes -€18,007
down €18,007 (-97.0%), from €18,567 to €561
- Depreciation +€3,338
up €3,338 (+52.9%), from €6,314 to €9,652
- Financial charges -€729
down €729 (-27.3%), from €2,666 to €1,937
of which Financial charges: -€723
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €466,217 | €371,519 | -€94,698 | -20.3% |
| Fixed assets | 21/28 | €170,630 | €171,206 | +€577 | +0.3% |
| Tangible fixed assets | 22/27 | €170,630 | €171,206 | +€577 | +0.3% |
| Land and buildings | 22 | €165,064 | €159,710 | -€5,354 | -3.2% |
| Plant, machinery and equipment | 23 | €4,327 | €2,703 | -€1,624 | -37.5% |
| Furniture and vehicles | 24 | €1,238 | €8,794 | +€7,555 | +610% |
| Current assets | 29/58 | €295,587 | €200,313 | -€95,274 | -32.2% |
| Amounts receivable within one year | 40/41 | €54,456 | €62,264 | +€7,808 | +14.3% |
| Trade receivables | 40 | €14,456 | €22,264 | +€7,808 | +54.0% |
| Other amounts receivable | 41 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €233,275 | €132,309 | -€100,966 | -43.3% |
| Deferred charges and accrued income | 490/1 | €7,856 | €5,740 | -€2,117 | -26.9% |
| Total equity and liabilities | 10/49 | €466,217 | €371,519 | -€94,698 | -20.3% |
| Equity | 10/15 | €222,162 | €173,821 | -€48,341 | -21.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €215,962 | €173,553 | -€42,409 | -19.6% |
| Distributable reserves | 133 | €215,962 | €173,553 | -€42,409 | -19.6% |
| Profit (loss) carried forward | 14 | - | -€5,932 | -€5,932 | |
| Amounts payable | 17/49 | €244,055 | €197,698 | -€46,357 | -19.0% |
| Amounts payable after more than one year | 17 | €70,007 | €60,590 | -€9,417 | -13.5% |
| Financial debts | 170/4 | €70,007 | €60,590 | -€9,417 | -13.5% |
| Amounts payable within one year | 42/48 | €173,154 | €135,590 | -€37,564 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €9,233 | €9,417 | +€185 | +2.0% |
| Trade debts | 44 | €2,347 | €11,194 | +€8,847 | +377% |
| Suppliers | 440/4 | €2,347 | €11,194 | +€8,847 | +377% |
| Taxes, remuneration and social security | 45 | €17,819 | €11,260 | -€6,559 | -36.8% |
| Taxes | 450/3 | €15,804 | €9,207 | -€6,597 | -41.7% |
| Remuneration and social security | 454/9 | €2,015 | €2,053 | +€38 | +1.9% |
| Other amounts payable | 47/48 | €143,755 | €103,719 | -€40,036 | -27.9% |
| Accrued charges and deferred income | 492/3 | €893 | €1,518 | +€625 | +70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,314 | €9,652 | +€3,338 | +52.9% |
| Other operating charges | 640/8 | €1,288 | €1,055 | -€233 | -18.1% |
| Gross operating margin | 9900 | €67,169 | €3,271 | -€63,898 | -95.1% |
| Operating profit (loss) | 9901 | €59,568 | -€7,436 | -€67,003 | |
| Financial income | 75/76B | €4,000 | €4,001 | +€1 | 0.0% |
| Recurring financial income | 75 | €4,000 | €4,001 | +€1 | 0.0% |
| Financial charges | 65/66B | €2,666 | €1,937 | -€729 | -27.3% |
| Recurring financial charges | 65 | €2,644 | €1,921 | -€723 | -27.3% |
| Non-recurring financial charges | 66B | €22 | €16 | -€6 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €60,901 | -€5,372 | -€66,273 | |
| Income taxes | 67/77 | €18,567 | €561 | -€18,007 | -97.0% |
| Profit (loss) for the period | 9904 | €42,334 | -€5,932 | -€48,266 | |
| Profit (loss) for the period to be appropriated | 9905 | €42,334 | -€5,932 | -€48,266 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.