NEUTELEERS: 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.
NEUTELEERS
Largest movements
- Tangible fixed assets -€21,029
down €21,029 (-2.5%), from €827,316 to €806,287
of which Land and buildings: -€26,366
- Receivables within one year +€10,473
up €10,473 (+22.5%), from €46,636 to €57,109
of which Trade receivables: +€12,880
- Debts after one year -€79,238
down €79,238 (-23.7%), from €334,964 to €255,726
of which Financial debts: -€42,500
- Trade debts +€48,145
up €48,145 (+28.3%), from €170,002 to €218,147
- Current portion of long-term debt -€37,724
down €37,724 (-47.0%), from €80,224 to €42,500
- Other debts +€27,500
up €27,500 (+1,100%), from €2,500 to €30,000
- Gross operating margin +€52,146
up €52,146 (+30.3%), from €172,104 to €224,251
- Staff costs -€15,623
down €15,623 (-10.3%), from €151,719 to €136,096
- Depreciation +€7,097
up €7,097 (+18.3%), from €38,678 to €45,775
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 | €1,040,634 | €1,021,518 | -€19,116 | -1.8% |
| Fixed assets | 21/28 | €827,530 | €806,501 | -€21,029 | -2.5% |
| Tangible fixed assets | 22/27 | €827,316 | €806,287 | -€21,029 | -2.5% |
| Land and buildings | 22 | €778,114 | €751,748 | -€26,366 | -3.4% |
| Plant, machinery and equipment | 23 | €7,962 | €18,741 | +€10,779 | +135% |
| Furniture and vehicles | 24 | €41,240 | €35,799 | -€5,441 | -13.2% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €214 | €214 | = | 0.0% |
| Current assets | 29/58 | €213,104 | €215,017 | +€1,913 | +0.9% |
| Stocks and contracts in progress | 3 | €148,882 | €141,020 | -€7,861 | -5.3% |
| Stocks | 30/36 | €148,882 | €141,020 | -€7,861 | -5.3% |
| Amounts receivable within one year | 40/41 | €46,636 | €57,109 | +€10,473 | +22.5% |
| Trade receivables | 40 | €28,841 | €41,721 | +€12,880 | +44.7% |
| Other amounts receivable | 41 | €17,795 | €15,388 | -€2,407 | -13.5% |
| Cash at bank and in hand | 54/58 | €3,972 | €6,115 | +€2,143 | +54.0% |
| Deferred charges and accrued income | 490/1 | €13,614 | €10,772 | -€2,843 | -20.9% |
| Total equity and liabilities | 10/49 | €1,040,634 | €1,021,518 | -€19,116 | -1.8% |
| Equity | 10/15 | €344,053 | €346,703 | +€2,650 | +0.8% |
| Contributions | 10/11 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€5,947 | -€3,297 | +€2,650 | +44.6% |
| Amounts payable | 17/49 | €696,581 | €674,815 | -€21,766 | -3.1% |
| Amounts payable after more than one year | 17 | €334,964 | €255,726 | -€79,238 | -23.7% |
| Financial debts | 170/4 | €208,958 | €166,458 | -€42,500 | -20.3% |
| Other amounts payable | 178/9 | €126,006 | €89,268 | -€36,738 | -29.2% |
| Amounts payable within one year | 42/48 | €361,617 | €419,089 | +€57,472 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €80,224 | €42,500 | -€37,724 | -47.0% |
| Financial debts | 43 | €90,000 | €100,000 | +€10,000 | +11.1% |
| Credit institutions | 430/8 | €90,000 | €100,000 | +€10,000 | +11.1% |
| Trade debts | 44 | €170,002 | €218,147 | +€48,145 | +28.3% |
| Suppliers | 440/4 | €170,002 | €218,147 | +€48,145 | +28.3% |
| Taxes, remuneration and social security | 45 | €18,892 | €28,442 | +€9,551 | +50.6% |
| Taxes | 450/3 | €882 | €12,628 | +€11,745 | +1,331% |
| Remuneration and social security | 454/9 | €18,009 | €15,815 | -€2,195 | -12.2% |
| Other amounts payable | 47/48 | €2,500 | €30,000 | +€27,500 | +1,100% |
| Remuneration, social security and pensions | 62 | €151,719 | €136,096 | -€15,623 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,678 | €45,775 | +€7,097 | +18.3% |
| Other operating charges | 640/8 | €19,705 | €19,606 | -€99 | -0.5% |
| Non-recurring operating charges | 66A | €2,435 | €0 | -€2,435 | -100% |
| Gross operating margin | 9900 | €172,104 | €224,251 | +€52,146 | +30.3% |
| Operating profit (loss) | 9901 | -€40,433 | €22,773 | +€63,206 | |
| Financial income | 75/76B | €87 | €128 | +€42 | +48.1% |
| Recurring financial income | 75 | €87 | €128 | +€42 | +48.1% |
| Financial charges | 65/66B | €21,460 | €20,251 | -€1,210 | -5.6% |
| Recurring financial charges | 65 | €21,460 | €20,251 | -€1,210 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | -€61,807 | €2,651 | +€64,458 | |
| Income taxes | 67/77 | €0 | €1 | +€0 | +71.9% |
| Profit (loss) for the period | 9904 | -€61,807 | €2,650 | +€64,457 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,807 | €2,650 | +€64,457 |
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 31 October 2026 via checked.be.