NETCEL: 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.
NETCEL
Largest movements
- Receivables within one year -€158,567
down €158,567 (-67.7%), from €234,173 to €75,607
of which Trade receivables: -€153,396
- Tangible fixed assets -€8,207
down €8,207 (-55.3%), from €14,854 to €6,647
- Cash -€7,323
down €7,323 (-55.5%), from €13,184 to €5,861
mainly Trade debts (-€165,581) and Current portion of long-term debt (-€5,631)
- Trade debts -€165,581
no longer reported in 2025 (was €165,581)
- Current portion of long-term debt -€5,631
down €5,631 (-72.2%), from €7,797 to €2,166
- Gross operating margin +€3,236
up €3,236 (+192%), from €1,687 to €4,923
- Depreciation -€2,575
down €2,575 (-58.6%), from €4,393 to €1,818
- Staff costs +€954
no longer reported in 2025 (was -€954)
- Financial income -€519
down €519 (-14.3%), from €3,621 to €3,102
- Taxes +€461
up €461, from -€7 to €454
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 | €266,409 | €91,415 | -€174,994 | -65.7% |
| Fixed assets | 21/28 | €14,854 | €6,647 | -€8,207 | -55.3% |
| Tangible fixed assets | 22/27 | €14,854 | €6,647 | -€8,207 | -55.3% |
| Leasing and similar rights | 25 | €14,854 | €6,647 | -€8,207 | -55.3% |
| Current assets | 29/58 | €251,556 | €84,768 | -€166,787 | -66.3% |
| Amounts receivable within one year | 40/41 | €234,173 | €75,607 | -€158,567 | -67.7% |
| Trade receivables | 40 | €175,896 | €22,500 | -€153,396 | -87.2% |
| Other amounts receivable | 41 | €58,277 | €53,107 | -€5,171 | -8.9% |
| Cash at bank and in hand | 54/58 | €13,184 | €5,861 | -€7,323 | -55.5% |
| Deferred charges and accrued income | 490/1 | €4,198 | €3,300 | -€898 | -21.4% |
| Total equity and liabilities | 10/49 | €266,409 | €91,415 | -€174,994 | -65.7% |
| Equity | 10/15 | €71,101 | €72,074 | +€973 | +1.4% |
| Reserves | 13 | €73,615 | €72,074 | -€1,540 | -2.1% |
| Distributable reserves | 133 | €73,615 | €72,074 | -€1,540 | -2.1% |
| Profit (loss) carried forward | 14 | -€2,514 | - | +€2,514 | |
| Amounts payable | 17/49 | €195,308 | €19,341 | -€175,967 | -90.1% |
| Amounts payable after more than one year | 17 | €6,238 | €4,072 | -€2,166 | -34.7% |
| Financial debts | 170/4 | €6,238 | €4,072 | -€2,166 | -34.7% |
| Amounts payable within one year | 42/48 | €189,070 | €15,269 | -€173,801 | -91.9% |
| Current portion of amounts payable after more than one year | 42 | €7,797 | €2,166 | -€5,631 | -72.2% |
| Trade debts | 44 | €165,581 | - | -€165,581 | |
| Suppliers | 440/4 | €165,581 | - | -€165,581 | |
| Taxes, remuneration and social security | 45 | €15,692 | €13,103 | -€2,589 | -16.5% |
| Taxes | 450/3 | €15,692 | €13,103 | -€2,589 | -16.5% |
| Non-recurring operating income | 76A | €22,377 | - | -€22,377 | |
| Remuneration, social security and pensions | 62 | -€954 | - | +€954 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,393 | €1,818 | -€2,575 | -58.6% |
| Other operating charges | 640/8 | €627 | €467 | -€160 | -25.6% |
| Non-recurring operating charges | 66A | - | €829 | +€829 | |
| Gross operating margin | 9900 | €1,687 | €4,923 | +€3,236 | +192% |
| Operating profit (loss) | 9901 | -€2,379 | €1,810 | +€4,189 | |
| Financial income | 75/76B | €3,621 | €3,102 | -€519 | -14.3% |
| Recurring financial income | 75 | €3,621 | €3,102 | -€519 | -14.3% |
| Financial charges | 65/66B | €3,763 | €3,484 | -€278 | -7.4% |
| Recurring financial charges | 65 | €3,763 | €3,484 | -€278 | -7.4% |
| Profit (loss) for the period before taxes | 9903 | -€2,521 | €1,427 | +€3,948 | |
| Income taxes | 67/77 | -€7 | €454 | +€461 | |
| Profit (loss) for the period | 9904 | -€2,514 | €973 | +€3,487 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,514 | €973 | +€3,487 |
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 27 October 2026 via checked.be.