NEUWELS: 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.
NEUWELS
Largest movements
- Receivables within one year +€107,235
up €107,235 (+1,367%), from €7,846 to €115,081
of which Other amounts receivable: +€102,173
- Cash -€61,716
down €61,716 (-67.3%), from €91,652 to €29,936
mainly Receivables within one year (-€107,235) and Contributions, distributions and other (-€99,865)
- Tangible fixed assets -€30,145
down €30,145 (-11.2%), from €268,740 to €238,595
of which Land and buildings: -€19,778
- Other debts +€45,185
up €45,185 (+40.0%), from €112,837 to €158,023
- Debts after one year -€27,721
down €27,721 (-13.3%), from €208,148 to €180,427
- Gross operating margin -€19,566
down €19,566 (-10.6%), from €185,016 to €165,450
- Taxes -€5,937
down €5,937 (-17.8%), from €33,418 to €27,481
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 | €387,316 | €402,982 | +€15,666 | +4.0% |
| Fixed assets | 21/28 | €268,740 | €238,595 | -€30,145 | -11.2% |
| Tangible fixed assets | 22/27 | €268,740 | €238,595 | -€30,145 | -11.2% |
| Land and buildings | 22 | €208,940 | €189,162 | -€19,778 | -9.5% |
| Plant, machinery and equipment | 23 | €830 | - | -€830 | |
| Furniture and vehicles | 24 | €5,272 | €2,452 | -€2,820 | -53.5% |
| Other tangible fixed assets | 26 | €47,648 | €40,930 | -€6,718 | -14.1% |
| Assets under construction and advance payments | 27 | €6,050 | €6,050 | = | 0.0% |
| Current assets | 29/58 | €118,576 | €164,388 | +€45,811 | +38.6% |
| Amounts receivable within one year | 40/41 | €7,846 | €115,081 | +€107,235 | +1,367% |
| Trade receivables | 40 | - | €5,062 | +€5,062 | |
| Other amounts receivable | 41 | €7,846 | €110,019 | +€102,173 | +1,302% |
| Cash at bank and in hand | 54/58 | €91,652 | €29,936 | -€61,716 | -67.3% |
| Deferred charges and accrued income | 490/1 | €19,079 | €19,371 | +€292 | +1.5% |
| Total equity and liabilities | 10/49 | €387,316 | €402,982 | +€15,666 | +4.0% |
| Equity | 10/15 | €16,468 | €16,469 | +€1 | 0.0% |
| Contributions | 10/11 | - | €1 | +€1 | |
| Reserves | 13 | €16,468 | €16,468 | = | 0.0% |
| Distributable reserves | 133 | €16,468 | €16,468 | = | 0.0% |
| Amounts payable | 17/49 | €370,848 | €386,513 | +€15,665 | +4.2% |
| Amounts payable after more than one year | 17 | €208,148 | €180,427 | -€27,721 | -13.3% |
| Financial debts | 170/4 | €208,148 | €180,427 | -€27,721 | -13.3% |
| Amounts payable within one year | 42/48 | €162,701 | €206,087 | +€43,386 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €27,201 | €27,721 | +€520 | +1.9% |
| Trade debts | 44 | €4,082 | €137 | -€3,945 | -96.6% |
| Suppliers | 440/4 | €4,082 | €137 | -€3,945 | -96.6% |
| Taxes, remuneration and social security | 45 | €18,581 | €20,206 | +€1,625 | +8.7% |
| Taxes | 450/3 | €18,556 | €20,206 | +€1,650 | +8.9% |
| Remuneration and social security | 454/9 | €25 | - | -€25 | |
| Other amounts payable | 47/48 | €112,837 | €158,023 | +€45,185 | +40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,983 | €30,145 | +€162 | +0.5% |
| Other operating charges | 640/8 | €3,874 | €3,566 | -€308 | -8.0% |
| Gross operating margin | 9900 | €185,016 | €165,450 | -€19,566 | -10.6% |
| Operating profit (loss) | 9901 | €151,158 | €131,739 | -€19,420 | -12.8% |
| Financial charges | 65/66B | €4,903 | €4,392 | -€512 | -10.4% |
| Recurring financial charges | 65 | €4,903 | €4,392 | -€512 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | €146,255 | €127,347 | -€18,908 | -12.9% |
| Income taxes | 67/77 | €33,418 | €27,481 | -€5,937 | -17.8% |
| Profit (loss) for the period | 9904 | €112,837 | €99,866 | -€12,971 | -11.5% |
| Profit (loss) for the period to be appropriated | 9905 | €112,837 | €99,866 | -€12,971 | -11.5% |
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.