'' Netholding Management '': 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.
'' Netholding Management ''
Largest movements
- Receivables within one year +€23,450
up €23,450 (+16.6%), from €141,055 to €164,505
of which Other amounts receivable: +€48,200
- Tangible fixed assets +€6,382
up €6,382 (+2.3%), from €278,903 to €285,285
of which Furniture and vehicles: +€26,510
- Profit (loss) carried forward +€28,086
up €28,086 (+20.8%), from €134,872 to €162,958
- Current portion of long-term debt +€12,952
up €12,952 (+55.0%), from €23,538 to €36,490
- Debts after one year -€7,606
down €7,606 (-3.2%), from €237,631 to €230,026
- Gross operating margin +€43,294
up €43,294 (+140%), from €30,908 to €74,202
- Depreciation +€9,431
up €9,431 (+45.0%), from €20,940 to €30,371
- Other operating charges +€4,474
up €4,474 (+663%), from €674 to €5,149
- Taxes +€1,472
new in 2025: €1,472
- Financial charges +€1,051
up €1,051 (+18.1%), from €5,805 to €6,856
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 | €436,073 | €465,926 | +€29,853 | +6.8% |
| Fixed assets | 21/28 | €294,015 | €300,406 | +€6,391 | +2.2% |
| Tangible fixed assets | 22/27 | €278,903 | €285,285 | +€6,382 | +2.3% |
| Land and buildings | 22 | €264,674 | €247,212 | -€17,462 | -6.6% |
| Furniture and vehicles | 24 | €900 | €27,410 | +€26,510 | +2,946% |
| Other tangible fixed assets | 26 | €13,329 | €10,663 | -€2,666 | -20.0% |
| Financial fixed assets | 28 | €15,112 | €15,121 | +€9 | +0.1% |
| Current assets | 29/58 | €142,058 | €165,520 | +€23,462 | +16.5% |
| Amounts receivable within one year | 40/41 | €141,055 | €164,505 | +€23,450 | +16.6% |
| Trade receivables | 40 | €93,395 | €68,645 | -€24,750 | -26.5% |
| Other amounts receivable | 41 | €47,659 | €95,859 | +€48,200 | +101% |
| Cash at bank and in hand | 54/58 | €1,003 | €1,015 | +€12 | +1.2% |
| Total equity and liabilities | 10/49 | €436,073 | €465,926 | +€29,853 | +6.8% |
| Equity | 10/15 | €158,897 | €186,983 | +€28,086 | +17.7% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Uncalled capital | 101 | €0 | - | = | |
| Contributions outside capital | 11 | €14,260 | €14,260 | = | 0.0% |
| Share premium | 1100/10 | €14,260 | - | -€14,260 | |
| Other | 1109/19 | - | €14,260 | +€14,260 | |
| Reserves | 13 | €9,765 | €9,765 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Tax-exempt reserves | 132 | €9,765 | €9,765 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,872 | €162,958 | +€28,086 | +20.8% |
| Amounts payable | 17/49 | €277,176 | €278,943 | +€1,768 | +0.6% |
| Amounts payable after more than one year | 17 | €237,631 | €230,026 | -€7,606 | -3.2% |
| Financial debts | 170/4 | €237,631 | €230,026 | -€7,606 | -3.2% |
| Amounts payable within one year | 42/48 | €39,544 | €48,918 | +€9,373 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €23,538 | €36,490 | +€12,952 | +55.0% |
| Financial debts | 43 | €2,184 | - | -€2,184 | |
| Credit institutions | 430/8 | €2,184 | - | -€2,184 | |
| Trade debts | 44 | €1,732 | €3,344 | +€1,612 | +93.1% |
| Suppliers | 440/4 | €1,732 | €3,344 | +€1,612 | +93.1% |
| Taxes, remuneration and social security | 45 | €9,680 | €7,117 | -€2,563 | -26.5% |
| Taxes | 450/3 | €9,680 | €7,117 | -€2,563 | -26.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,410 | €1,966 | -€443 | -18.4% |
| Remuneration, social security and pensions | 62 | €2,324 | €2,268 | -€56 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,940 | €30,371 | +€9,431 | +45.0% |
| Other operating charges | 640/8 | €674 | €5,149 | +€4,474 | +663% |
| Gross operating margin | 9900 | €30,908 | €74,202 | +€43,294 | +140% |
| Operating profit (loss) | 9901 | €6,969 | €36,414 | +€29,445 | +422% |
| Financial charges | 65/66B | €5,805 | €6,856 | +€1,051 | +18.1% |
| Recurring financial charges | 65 | €5,805 | €6,856 | +€1,051 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €1,164 | €29,558 | +€28,394 | +2,439% |
| Income taxes | 67/77 | - | €1,472 | +€1,472 | |
| Profit (loss) for the period | 9904 | €1,164 | €28,086 | +€26,922 | +2,313% |
| Profit (loss) for the period to be appropriated | 9905 | €1,164 | €28,086 | +€26,922 | +2,313% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.