Netma: 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.
Netma
Largest movements
- Receivables within one year +€42,185
up €42,185 (+82.8%), from €50,927 to €93,112
of which Trade receivables: +€42,158
- Cash -€13,623
down €13,623 (-82.5%), from €16,506 to €2,884
mainly Receivables within one year (-€42,185) and Tax, wage and social debts (-€7,354)
- Tangible fixed assets -€10,152
down €10,152 (-48.2%), from €21,052 to €10,900
of which Furniture and vehicles: -€8,921
- Advances received +€24,200
new in 2025: €24,200
- Profit (loss) carried forward +€9,271
up €9,271 (+18.8%), from €49,270 to €58,541
- Tax, wage and social debts -€7,354
down €7,354 (-56.8%), from €12,936 to €5,582
of which Taxes: -€6,054
- Debts after one year -€5,598
down €5,598 (-42.9%), from €13,062 to €7,464
- Other debts -€3,355
down €3,355 (-46.7%), from €7,190 to €3,835
- Gross operating margin +€4,358
up €4,358 (+20.0%), from €21,770 to €26,127
- Depreciation -€2,744
down €2,744 (-21.3%), from €12,896 to €10,152
- Taxes +€975
up €975 (+31.4%), from €3,107 to €4,082
- Other operating charges +€616
up €616 (+93.0%), from €662 to €1,278
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.
Cash bridge derived
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 | €90,110 | €107,538 | +€17,428 | +19.3% |
| Fixed assets | 21/28 | €21,052 | €10,900 | -€10,152 | -48.2% |
| Tangible fixed assets | 22/27 | €21,052 | €10,900 | -€10,152 | -48.2% |
| Plant, machinery and equipment | 23 | €1,231 | - | -€1,231 | |
| Furniture and vehicles | 24 | €19,821 | €10,900 | -€8,921 | -45.0% |
| Current assets | 29/58 | €69,058 | €96,637 | +€27,580 | +39.9% |
| Amounts receivable within one year | 40/41 | €50,927 | €93,112 | +€42,185 | +82.8% |
| Trade receivables | 40 | €27,160 | €69,318 | +€42,158 | +155.2% |
| Other amounts receivable | 41 | €23,767 | €23,794 | +€26 | +0.1% |
| Cash at bank and in hand | 54/58 | €16,506 | €2,884 | -€13,623 | -82.5% |
| Deferred charges and accrued income | 490/1 | €1,624 | €642 | -€982 | -60.5% |
| Total equity and liabilities | 10/49 | €90,110 | €107,538 | +€17,428 | +19.3% |
| Equity | 10/15 | €49,370 | €58,641 | +€9,271 | +18.8% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,270 | €58,541 | +€9,271 | +18.8% |
| Amounts payable | 17/49 | €40,740 | €48,897 | +€8,157 | +20.0% |
| Amounts payable after more than one year | 17 | €13,062 | €7,464 | -€5,598 | -42.9% |
| Financial debts | 170/4 | €13,062 | €7,464 | -€5,598 | -42.9% |
| Amounts payable within one year | 42/48 | €27,162 | €40,865 | +€13,703 | +50.4% |
| Current portion of amounts payable after more than one year | 42 | €5,598 | €5,598 | = | 0.0% |
| Trade debts | 44 | €1,438 | €1,650 | +€211 | +14.7% |
| Suppliers | 440/4 | €1,438 | €1,650 | +€211 | +14.7% |
| Advances received on contracts in progress | 46 | - | €24,200 | +€24,200 | |
| Taxes, remuneration and social security | 45 | €12,936 | €5,582 | -€7,354 | -56.8% |
| Taxes | 450/3 | €11,636 | €5,582 | -€6,054 | -52.0% |
| Remuneration and social security | 454/9 | €1,300 | - | -€1,300 | |
| Other amounts payable | 47/48 | €7,190 | €3,835 | -€3,355 | -46.7% |
| Accrued charges and deferred income | 492/3 | €516 | €568 | +€52 | +10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,896 | €10,152 | -€2,744 | -21.3% |
| Other operating charges | 640/8 | €662 | €1,278 | +€616 | +93.0% |
| Gross operating margin | 9900 | €21,770 | €26,127 | +€4,358 | +20.0% |
| Operating profit (loss) | 9901 | €8,211 | €14,698 | +€6,486 | +79.0% |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €1,385 | €1,345 | -€40 | -2.9% |
| Recurring financial charges | 65 | €1,385 | €1,345 | -€40 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €6,862 | €13,353 | +€6,491 | +94.6% |
| Income taxes | 67/77 | €3,107 | €4,082 | +€975 | +31.4% |
| Profit (loss) for the period | 9904 | €3,755 | €9,271 | +€5,516 | +146.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,755 | €9,271 | +€5,516 | +146.9% |
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 10 October 2026 via checked.be.