NEUCO: 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.
NEUCO
Largest movements
- Receivables within one year +€17,980
up €17,980 (+61.3%), from €29,323 to €47,302
of which Trade receivables: +€21,563
- Tangible fixed assets -€15,998
no longer reported in 2025 (was €15,998)
- Cash -€10,351
down €10,351 (-19.6%), from €52,721 to €42,370
mainly Receivables within one year (-€17,980) and Debts after one year (-€12,776)
- Trade debts +€12,992
up €12,992 (+1215.5%), from €1,069 to €14,061
- Debts after one year -€12,776
no longer reported in 2025 (was €12,776)
- Tax, wage and social debts -€6,360
down €6,360 (-61.8%), from €10,286 to €3,926
of which Remuneration and social security: -€9,776
- Current portion of long-term debt -€3,372
no longer reported in 2025 (was €3,372)
- Depreciation -€3,232
no longer reported in 2025 (was €3,232)
- Gross operating margin -€2,158
down €2,158 (-29.4%), from €7,328 to €5,170
- Other operating charges -€1,543
down €1,543 (-42.4%), from €3,636 to €2,094
- Financial charges -€761
down €761 (-36.9%), from €2,062 to €1,300
- Taxes +€647
up €647 (+83.7%), from €772 to €1,419
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 | €107,957 | €98,274 | -€9,684 | -9.0% |
| Fixed assets | 21/28 | €20,998 | €5,000 | -€15,998 | -76.2% |
| Tangible fixed assets | 22/27 | €15,998 | - | -€15,998 | |
| Leasing and similar rights | 25 | €15,998 | - | -€15,998 | |
| Financial fixed assets | 28 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €86,960 | €93,274 | +€6,314 | +7.3% |
| Stocks and contracts in progress | 3 | €2,135 | €1,283 | -€852 | -39.9% |
| Stocks | 30/36 | €2,135 | €1,283 | -€852 | -39.9% |
| Amounts receivable within one year | 40/41 | €29,323 | €47,302 | +€17,980 | +61.3% |
| Trade receivables | 40 | €276 | €21,839 | +€21,563 | +7816.2% |
| Other amounts receivable | 41 | €29,047 | €25,463 | -€3,583 | -12.3% |
| Current investments | 50/53 | €2,000 | €2,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €52,721 | €42,370 | -€10,351 | -19.6% |
| Deferred charges and accrued income | 490/1 | €781 | €318 | -€463 | -59.3% |
| Total equity and liabilities | 10/49 | €107,957 | €98,274 | -€9,684 | -9.0% |
| Equity | 10/15 | €64,054 | €63,559 | -€495 | -0.8% |
| Contributions | 10/11 | €20,900 | €20,900 | = | 0.0% |
| Reserves | 13 | €40,600 | €40,600 | = | 0.0% |
| Distributable reserves | 133 | €40,600 | €40,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,554 | €2,059 | -€495 | -19.4% |
| Amounts payable | 17/49 | €43,903 | €34,714 | -€9,189 | -20.9% |
| Amounts payable after more than one year | 17 | €12,776 | - | -€12,776 | |
| Financial debts | 170/4 | €12,776 | - | -€12,776 | |
| Amounts payable within one year | 42/48 | €31,127 | €34,699 | +€3,572 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €3,372 | - | -€3,372 | |
| Trade debts | 44 | €1,069 | €14,061 | +€12,992 | +1215.5% |
| Suppliers | 440/4 | €1,069 | €14,061 | +€12,992 | +1215.5% |
| Taxes, remuneration and social security | 45 | €10,286 | €3,926 | -€6,360 | -61.8% |
| Taxes | 450/3 | €511 | €3,926 | +€3,415 | +669.0% |
| Remuneration and social security | 454/9 | €9,776 | - | -€9,776 | |
| Other amounts payable | 47/48 | €16,400 | €16,713 | +€313 | +1.9% |
| Accrued charges and deferred income | 492/3 | - | €15 | +€15 | |
| Non-recurring operating income | 76A | €27 | - | -€27 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,232 | - | -€3,232 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,420 | €852 | -€568 | -40.0% |
| Other operating charges | 640/8 | €3,636 | €2,094 | -€1,543 | -42.4% |
| Gross operating margin | 9900 | €7,328 | €5,170 | -€2,158 | -29.4% |
| Operating profit (loss) | 9901 | -€961 | €2,224 | +€3,185 | |
| Financial charges | 65/66B | €2,062 | €1,300 | -€761 | -36.9% |
| Recurring financial charges | 65 | €2,062 | €1,300 | -€761 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,022 | €924 | +€3,946 | |
| Income taxes | 67/77 | €772 | €1,419 | +€647 | +83.7% |
| Profit (loss) for the period | 9904 | -€3,794 | -€495 | +€3,300 | +87.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,794 | -€495 | +€3,300 | +87.0% |
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.