NETOBEL: 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.
NETOBEL
Largest movements
- Cash -€9,008
down €9,008 (-76.4%), from €11,795 to €2,787
mainly Trade debts (-€6,589) and Tax, wage and social debts (-€4,194)
- Trade debts -€6,589
down €6,589 (-24.1%), from €27,369 to €20,780
- Tax, wage and social debts -€4,194
no longer reported in 2025 (was €4,194)
of which Taxes: -€2,626
- Profit (loss) carried forward +€2,811
up €2,811 (+1.7%), from €164,406 to €167,217
- Gross operating margin -€4,256
down €4,256 (-25.7%), from €16,569 to €12,313
- Taxes +€1,811
up €1,811 (+45.3%), from €4,000 to €5,811
- Other operating charges -€843
down €843 (-25.3%), from €3,338 to €2,495
- Depreciation -€295
down €295 (-25.9%), from €1,137 to €843
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 | €204,028 | €196,057 | -€7,971 | -3.9% |
| Fixed assets | 21/28 | €3,096 | €2,253 | -€843 | -27.2% |
| Tangible fixed assets | 22/27 | €2,856 | €2,013 | -€843 | -29.5% |
| Furniture and vehicles | 24 | €2,856 | €2,013 | -€843 | -29.5% |
| Financial fixed assets | 28 | €240 | €240 | = | 0.0% |
| Current assets | 29/58 | €200,932 | €193,804 | -€7,128 | -3.5% |
| Amounts receivable within one year | 40/41 | €189,137 | €191,017 | +€1,880 | +1.0% |
| Trade receivables | 40 | €112,611 | €111,900 | -€710 | -0.6% |
| Other amounts receivable | 41 | €76,527 | €79,117 | +€2,590 | +3.4% |
| Cash at bank and in hand | 54/58 | €11,795 | €2,787 | -€9,008 | -76.4% |
| Total equity and liabilities | 10/49 | €204,028 | €196,057 | -€7,971 | -3.9% |
| Equity | 10/15 | €172,466 | €175,277 | +€2,811 | +1.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €164,406 | €167,217 | +€2,811 | +1.7% |
| Amounts payable | 17/49 | €31,563 | €20,780 | -€10,783 | -34.2% |
| Amounts payable within one year | 42/48 | €31,563 | €20,780 | -€10,783 | -34.2% |
| Trade debts | 44 | €27,369 | €20,780 | -€6,589 | -24.1% |
| Suppliers | 440/4 | €27,369 | €20,780 | -€6,589 | -24.1% |
| Taxes, remuneration and social security | 45 | €4,194 | - | -€4,194 | |
| Taxes | 450/3 | €2,626 | - | -€2,626 | |
| Remuneration and social security | 454/9 | €1,567 | - | -€1,567 | |
| Non-recurring operating income | 76A | - | €4,326 | +€4,326 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,137 | €843 | -€295 | -25.9% |
| Other operating charges | 640/8 | €3,338 | €2,495 | -€843 | -25.3% |
| Gross operating margin | 9900 | €16,569 | €12,313 | -€4,256 | -25.7% |
| Operating profit (loss) | 9901 | €12,093 | €8,976 | -€3,118 | -25.8% |
| Financial charges | 65/66B | €296 | €354 | +€57 | +19.4% |
| Recurring financial charges | 65 | €296 | €354 | +€57 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | €11,797 | €8,622 | -€3,175 | -26.9% |
| Income taxes | 67/77 | €4,000 | €5,811 | +€1,811 | +45.3% |
| Profit (loss) for the period | 9904 | €7,797 | €2,811 | -€4,986 | -63.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,797 | €2,811 | -€4,986 | -63.9% |
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 14 October 2026 via checked.be.