NETECO: 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.
NETECO
Largest movements
- Receivables within one year +€135,961
up €135,961 (+344%), from €39,493 to €175,454
of which Trade receivables: +€135,077
- Cash -€15,119
down €15,119 (-33.4%), from €45,202 to €30,083
mainly Receivables within one year (-€135,961) and Investment in fixed assets (net) (-€5,262)
- Trade debts +€80,450
up €80,450 (+262%), from €30,664 to €111,114
- Profit (loss) carried forward +€21,417
up €21,417 (+47.5%), from €45,073 to €66,490
- Tax, wage and social debts +€18,767
up €18,767 (+144%), from €13,019 to €31,786
of which Remuneration and social security: +€21,404
- Gross operating margin +€109,054
up €109,054 (+122%), from €89,463 to €198,517
- Staff costs +€62,213
up €62,213 (+91.8%), from €67,744 to €129,956
- Write-downs +€32,660
new in 2025: €32,660
- Taxes +€9,275
new in 2025: €9,275
- Depreciation +€2,451
up €2,451 (+161%), from €1,525 to €3,976
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 | €91,156 | €213,284 | +€122,128 | +134% |
| Fixed assets | 21/28 | €6,461 | €7,747 | +€1,286 | +19.9% |
| Tangible fixed assets | 22/27 | €6,023 | €7,309 | +€1,286 | +21.3% |
| Plant, machinery and equipment | 23 | €2,768 | €1,845 | -€923 | -33.3% |
| Furniture and vehicles | 24 | €3,256 | €5,464 | +€2,208 | +67.8% |
| Financial fixed assets | 28 | €438 | €438 | = | 0.0% |
| Current assets | 29/58 | €84,695 | €205,537 | +€120,842 | +143% |
| Amounts receivable within one year | 40/41 | €39,493 | €175,454 | +€135,961 | +344% |
| Trade receivables | 40 | €39,493 | €174,570 | +€135,077 | +342% |
| Other amounts receivable | 41 | - | €884 | +€884 | |
| Cash at bank and in hand | 54/58 | €45,202 | €30,083 | -€15,119 | -33.4% |
| Total equity and liabilities | 10/49 | €91,156 | €213,284 | +€122,128 | +134% |
| Equity | 10/15 | €46,073 | €67,490 | +€21,417 | +46.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,073 | €66,490 | +€21,417 | +47.5% |
| Amounts payable | 17/49 | €45,083 | €145,794 | +€100,711 | +223% |
| Amounts payable within one year | 42/48 | €45,083 | €145,794 | +€100,711 | +223% |
| Trade debts | 44 | €30,664 | €111,114 | +€80,450 | +262% |
| Suppliers | 440/4 | €30,664 | €111,114 | +€80,450 | +262% |
| Taxes, remuneration and social security | 45 | €13,019 | €31,786 | +€18,767 | +144% |
| Taxes | 450/3 | €4,871 | €2,234 | -€2,636 | -54.1% |
| Remuneration and social security | 454/9 | €8,148 | €29,552 | +€21,404 | +263% |
| Other amounts payable | 47/48 | €1,400 | €2,894 | +€1,494 | +107% |
| Remuneration, social security and pensions | 62 | €67,744 | €129,956 | +€62,213 | +91.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,525 | €3,976 | +€2,451 | +161% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €32,660 | +€32,660 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Non-recurring operating charges | 66A | - | €437 | +€437 | |
| Gross operating margin | 9900 | €89,463 | €198,517 | +€109,054 | +122% |
| Operating profit (loss) | 9901 | €20,195 | €31,088 | +€10,893 | +53.9% |
| Financial income | 75/76B | €0 | €1 | +€0 | +1,225% |
| Recurring financial income | 75 | €0 | €1 | +€0 | +1,225% |
| Financial charges | 65/66B | €566 | €396 | -€170 | -30.0% |
| Recurring financial charges | 65 | €323 | €396 | +€73 | +22.4% |
| Non-recurring financial charges | 66B | €242 | - | -€242 | |
| Profit (loss) for the period before taxes | 9903 | €19,629 | €30,692 | +€11,063 | +56.4% |
| Income taxes | 67/77 | - | €9,275 | +€9,275 | |
| Profit (loss) for the period | 9904 | €19,629 | €21,417 | +€1,788 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,629 | €21,417 | +€1,788 | +9.1% |
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 20 October 2026 via checked.be.