NEURALGO: 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.
NEURALGO
Largest movements
- Cash +€159,259
up €159,259 (+142.5%), from €111,772 to €271,031
mainly Net result for the year (+€262,977) and Debts after one year (+€142,231)
- Tangible fixed assets -€104,466
down €104,466 (-7.1%), from €1.5m to €1.4m
of which Land and buildings: -€99,038
- Receivables within one year +€59,216
up €59,216 (+226.2%), from €26,182 to €85,398
- Profit (loss) carried forward -€478,527
down €478,527 (-100.0%), from €478,527 to €0
- Reserves +€386,180
up €386,180 (+170.9%), from €225,971 to €612,151
of which Distributable reserves: +€386,180
- Debts after one year +€142,231
up €142,231 (+18.2%), from €779,913 to €922,144
- Current portion of long-term debt +€89,854
up €89,854 (+88.2%), from €101,858 to €191,713
- Other debts -€52,150
down €52,150 (-100.0%), from €52,150 to €0
- Gross operating margin +€144,538
up €144,538 (+36.0%), from €401,156 to €545,694
- Taxes +€34,861
up €34,861 (+40.4%), from €86,210 to €121,071
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 | €1,673,407 | €1,802,935 | +€129,528 | +7.7% |
| Fixed assets | 21/28 | €1,479,233 | €1,379,267 | -€99,966 | -6.8% |
| Tangible fixed assets | 22/27 | €1,476,233 | €1,371,767 | -€104,466 | -7.1% |
| Land and buildings | 22 | €1,455,892 | €1,356,854 | -€99,038 | -6.8% |
| Plant, machinery and equipment | 23 | €228 | €0 | -€228 | -100.0% |
| Furniture and vehicles | 24 | €20,113 | €14,914 | -€5,199 | -25.9% |
| Financial fixed assets | 28 | €3,000 | €7,500 | +€4,500 | +150.0% |
| Current assets | 29/58 | €194,174 | €423,668 | +€229,494 | +118.2% |
| Amounts receivable within one year | 40/41 | €26,182 | €85,398 | +€59,216 | +226.2% |
| Other amounts receivable | 41 | €26,182 | €85,398 | +€59,216 | +226.2% |
| Cash at bank and in hand | 54/58 | €111,772 | €271,031 | +€159,259 | +142.5% |
| Deferred charges and accrued income | 490/1 | €56,220 | €67,239 | +€11,019 | +19.6% |
| Total equity and liabilities | 10/49 | €1,673,407 | €1,802,935 | +€129,528 | +7.7% |
| Equity | 10/15 | €723,098 | €630,751 | -€92,347 | -12.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €225,971 | €612,151 | +€386,180 | +170.9% |
| Tax-exempt reserves | 132 | €45,258 | €45,258 | = | 0.0% |
| Distributable reserves | 133 | €180,714 | €566,893 | +€386,180 | +213.7% |
| Profit (loss) carried forward | 14 | €478,527 | €0 | -€478,527 | -100.0% |
| Amounts payable | 17/49 | €950,309 | €1,172,184 | +€221,875 | +23.3% |
| Amounts payable after more than one year | 17 | €779,913 | €922,144 | +€142,231 | +18.2% |
| Financial debts | 170/4 | €779,913 | €922,144 | +€142,231 | +18.2% |
| Amounts payable within one year | 42/48 | €163,251 | €240,019 | +€76,768 | +47.0% |
| Current portion of amounts payable after more than one year | 42 | €101,858 | €191,713 | +€89,854 | +88.2% |
| Trade debts | 44 | €3,187 | €2,998 | -€189 | -5.9% |
| Suppliers | 440/4 | €3,187 | €2,998 | -€189 | -5.9% |
| Taxes, remuneration and social security | 45 | €6,056 | €45,309 | +€39,253 | +648.2% |
| Taxes | 450/3 | €6,056 | €45,309 | +€39,253 | +648.2% |
| Other amounts payable | 47/48 | €52,150 | €0 | -€52,150 | -100.0% |
| Accrued charges and deferred income | 492/3 | €7,145 | €10,021 | +€2,876 | +40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €128,865 | €131,892 | +€3,027 | +2.3% |
| Other operating charges | 640/8 | €11,713 | €9,759 | -€1,954 | -16.7% |
| Gross operating margin | 9900 | €401,156 | €545,694 | +€144,538 | +36.0% |
| Operating profit (loss) | 9901 | €260,578 | €404,043 | +€143,465 | +55.1% |
| Financial income | 75/76B | €552 | €778 | +€226 | +41.0% |
| Recurring financial income | 75 | €552 | €778 | +€226 | +41.0% |
| Financial charges | 65/66B | €18,937 | €20,773 | +€1,836 | +9.7% |
| Recurring financial charges | 65 | €18,937 | €20,773 | +€1,836 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €242,192 | €384,048 | +€141,856 | +58.6% |
| Income taxes | 67/77 | €86,210 | €121,071 | +€34,861 | +40.4% |
| Profit (loss) for the period | 9904 | €155,982 | €262,977 | +€106,995 | +68.6% |
| Profit (loss) for the period to be appropriated | 9905 | €155,982 | €262,977 | +€106,995 | +68.6% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.