NEUBAT: 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.
What changed
NEUBAT
NACE 46.831, Wholesale of construction materials, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€19,541
2024 · €1,773+€17,768
Equity
€1.7m
2024 · €1.7m+€19,188
Cash
€182,599
2024 · €169,871+€12,727
Balance sheet total
€2.5m
2024 · €2.5m-€45,241
Largest movements
Assets
- Tangible fixed assets -€64,191
down €64,191 (-17.7%), from €363,188 to €298,997
of which Plant, machinery and equipment: -€32,184
- Stocks and contracts +€28,190
up €28,190 (+3.7%), from €752,384 to €780,574
Equity and liabilities
- Debts after one year -€52,818
down €52,818 (-25.5%), from €206,965 to €154,147
of which Financial debts: -€52,814
- Trade debts +€35,108
up €35,108 (+32.1%), from €109,297 to €144,405
- Current portion of long-term debt -€33,311
down €33,311 (-38.7%), from €86,125 to €52,814
Income statement
- Depreciation -€14,697
down €14,697 (-16.9%), from €86,903 to €72,206
- Staff costs -€10,798
down €10,798 (-2.9%), from €370,745 to €359,948
- Gross operating margin -€8,655
down €8,655 (-1.8%), from €492,526 to €483,871
- Taxes +€6,705
up €6,705 (+228%), from €2,935 to €9,641
- Financial charges -€6,069
down €6,069 (-16.8%), from €36,129 to €30,060
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.
Result 2024
€1,773
Gross operating margin
-€8,655
Staff costs
+€10,798
Depreciation
+€14,697
Write-downs
+€3,399
Other operating charges
-€526
Financial income
-€1,309
Financial charges
+€6,069
Taxes
-€6,705
Result 2025
€19,541
raises the resultlowers the result
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.
From operations
+€124,287
Investment
€0
Financing
-€111,559
Cash 2024
€169,871
From operations (derived)
+€124,287
Net result for the year
+€19,541
Depreciation
+€72,206
Stocks and contracts
-€28,190
Receivables within one year
+€18,724
Deferred charges and accrued income
-€4,772
Trade debts
+€35,108
Tax, wage and social debts
+€11,346
Accrued charges and deferred income
+€323
Financing
-€111,559
Debts after one year
-€52,818
Current portion of long-term debt
-€33,311
Short-term financial debts
-€25,076
Contributions, distributions and other
-€354
Cash 2025
€182,599
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,544,834 | €2,499,593 | -€45,241 | -1.8% |
| Fixed assets | 21/28 | €1,242,557 | €1,170,351 | -€72,206 | -5.8% |
| Intangible fixed assets | 21 | €16,029 | €8,015 | -€8,015 | -50.0% |
| Tangible fixed assets | 22/27 | €363,188 | €298,997 | -€64,191 | -17.7% |
| Land and buildings | 22 | €243,267 | €238,593 | -€4,674 | -1.9% |
| Plant, machinery and equipment | 23 | €47,361 | €15,177 | -€32,184 | -68.0% |
| Furniture and vehicles | 24 | €72,560 | €45,227 | -€27,333 | -37.7% |
| Financial fixed assets | 28 | €863,339 | €863,339 | = | 0.0% |
| Current assets | 29/58 | €1,302,277 | €1,329,242 | +€26,965 | +2.1% |
| Amounts receivable after more than one year | 29 | €88,000 | €88,000 | = | 0.0% |
| Other amounts receivable | 291 | €88,000 | €88,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €752,384 | €780,574 | +€28,190 | +3.7% |
| Stocks | 30/36 | €752,384 | €780,574 | +€28,190 | +3.7% |
| Amounts receivable within one year | 40/41 | €262,393 | €243,669 | -€18,724 | -7.1% |
| Trade receivables | 40 | €219,388 | €218,435 | -€952 | -0.4% |
| Other amounts receivable | 41 | €43,005 | €25,234 | -€17,772 | -41.3% |
| Cash at bank and in hand | 54/58 | €169,871 | €182,599 | +€12,727 | +7.5% |
| Deferred charges and accrued income | 490/1 | €29,629 | €34,401 | +€4,772 | +16.1% |
| Total equity and liabilities | 10/49 | €2,544,834 | €2,499,593 | -€45,241 | -1.8% |
| Equity | 10/15 | €1,656,604 | €1,675,792 | +€19,188 | +1.2% |
| Contributions | 10/11 | €545,787 | €545,787 | = | 0.0% |
| Revaluation surpluses | 12 | €74,152 | €74,152 | = | 0.0% |
| Reserves | 13 | €124,952 | €124,952 | = | 0.0% |
| Non-distributable reserves | 130/1 | €81,579 | €81,579 | = | 0.0% |
| Reserves not available under the articles | 1311 | €81,579 | €81,579 | = | 0.0% |
| Tax-exempt reserves | 132 | €38,837 | €38,837 | = | 0.0% |
| Distributable reserves | 133 | €4,537 | €4,537 | = | 0.0% |
| Profit (loss) carried forward | 14 | €911,147 | €930,688 | +€19,541 | +2.1% |
| Investment grants | 15 | €565 | €212 | -€354 | -62.6% |
| Provisions and deferred taxes | 16 | €67,509 | €67,509 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €67,509 | €67,509 | = | 0.0% |
| Pensions and similar obligations | 160 | €67,509 | €67,509 | = | 0.0% |
| Amounts payable | 17/49 | €820,721 | €756,293 | -€64,428 | -7.9% |
| Amounts payable after more than one year | 17 | €206,965 | €154,147 | -€52,818 | -25.5% |
| Financial debts | 170/4 | €95,465 | €42,651 | -€52,814 | -55.3% |
| Other amounts payable | 178/9 | €111,500 | €111,496 | -€4 | 0.0% |
| Amounts payable within one year | 42/48 | €610,330 | €598,397 | -€11,933 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €86,125 | €52,814 | -€33,311 | -38.7% |
| Financial debts | 43 | €341,207 | €316,130 | -€25,076 | -7.3% |
| Credit institutions | 430/8 | €341,207 | €316,130 | -€25,076 | -7.3% |
| Trade debts | 44 | €109,297 | €144,405 | +€35,108 | +32.1% |
| Suppliers | 440/4 | €109,297 | €144,405 | +€35,108 | +32.1% |
| Taxes, remuneration and social security | 45 | €41,954 | €53,301 | +€11,346 | +27.0% |
| Taxes | 450/3 | €4,772 | €21,159 | +€16,386 | +343% |
| Remuneration and social security | 454/9 | €37,182 | €32,142 | -€5,040 | -13.6% |
| Other amounts payable | 47/48 | €31,747 | €31,747 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,426 | €3,749 | +€323 | +9.4% |
| Non-recurring operating income | 76A | €2,303 | €0 | -€2,303 | -100% |
| Remuneration, social security and pensions | 62 | €370,745 | €359,948 | -€10,798 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,903 | €72,206 | -€14,697 | -16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,383 | -€6,782 | -€3,399 | -100% |
| Other operating charges | 640/8 | €21,001 | €21,527 | +€526 | +2.5% |
| Gross operating margin | 9900 | €492,526 | €483,871 | -€8,655 | -1.8% |
| Operating profit (loss) | 9901 | €17,259 | €36,972 | +€19,713 | +114% |
| Financial income | 75/76B | €23,578 | €22,269 | -€1,309 | -5.6% |
| Recurring financial income | 75 | €23,578 | €22,269 | -€1,309 | -5.6% |
| Financial charges | 65/66B | €36,129 | €30,060 | -€6,069 | -16.8% |
| Recurring financial charges | 65 | €36,129 | €30,060 | -€6,069 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €4,708 | €29,182 | +€24,474 | +520% |
| Income taxes | 67/77 | €2,935 | €9,641 | +€6,705 | +228% |
| Profit (loss) for the period | 9904 | €1,773 | €19,541 | +€17,768 | +1,002% |
| Profit (loss) for the period to be appropriated | 9905 | €1,773 | €19,541 | +€17,768 | +1,002% |
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.