NEVEN: what changed
Two fiscal 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.
NEVEN
Largest movements
- Receivables within one year +€56,102
up €56,102 (+36.3%), from €154,743 to €210,844
of which Other amounts receivable: +€42,160
- Tangible fixed assets -€30,639
down €30,639 (-18.0%), from €170,017 to €139,378
- Receivables after one year -€29,300
down €29,300 (-21.7%), from €135,000 to €105,700
- Cash -€11,454
down €11,454 (-5.6%), from €205,898 to €194,445
mainly Receivables within one year (-€56,102) and Contributions, distributions and other (-€30,843)
- Tax, wage and social debts -€29,637
down €29,637 (-29.8%), from €99,331 to €69,694
of which Taxes: -€31,074
- Reserves +€21,221
up €21,221 (+5.2%), from €407,041 to €428,263
- Debts after one year -€13,671
down €13,671 (-27.1%), from €50,422 to €36,751
- Gross operating margin -€20,196
down €20,196 (-6.1%), from €328,593 to €308,398
- Staff costs -€17,667
down €17,667 (-7.9%), from €224,261 to €206,594
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 | €670,990 | €658,025 | -€12,966 | -1.9% |
| Fixed assets | 21/28 | €171,257 | €139,378 | -€31,878 | -18.6% |
| Tangible fixed assets | 22/27 | €170,017 | €139,378 | -€30,639 | -18.0% |
| Plant, machinery and equipment | 23 | €20,166 | €10,118 | -€10,048 | -49.8% |
| Furniture and vehicles | 24 | €40,109 | €26,113 | -€13,996 | -34.9% |
| Other tangible fixed assets | 26 | €109,742 | €103,147 | -€6,595 | -6.0% |
| Financial fixed assets | 28 | €1,239 | €0 | -€1,239 | -100.0% |
| Current assets | 29/58 | €499,734 | €518,646 | +€18,913 | +3.8% |
| Amounts receivable after more than one year | 29 | €135,000 | €105,700 | -€29,300 | -21.7% |
| Other amounts receivable | 291 | €135,000 | €105,700 | -€29,300 | -21.7% |
| Stocks and contracts in progress | 3 | €3,051 | €3,211 | +€160 | +5.2% |
| Stocks | 30/36 | €3,051 | €3,211 | +€160 | +5.2% |
| Amounts receivable within one year | 40/41 | €154,743 | €210,844 | +€56,102 | +36.3% |
| Trade receivables | 40 | €58,447 | €72,389 | +€13,942 | +23.9% |
| Other amounts receivable | 41 | €96,296 | €138,456 | +€42,160 | +43.8% |
| Cash at bank and in hand | 54/58 | €205,898 | €194,445 | -€11,454 | -5.6% |
| Deferred charges and accrued income | 490/1 | €1,042 | €4,447 | +€3,405 | +326.9% |
| Total equity and liabilities | 10/49 | €670,990 | €658,025 | -€12,966 | -1.9% |
| Equity | 10/15 | €499,655 | €520,877 | +€21,221 | +4.2% |
| Contributions | 10/11 | €97,414 | €97,414 | = | 0.0% |
| Reserves | 13 | €407,041 | €428,263 | +€21,221 | +5.2% |
| Distributable reserves | 133 | €407,041 | €428,263 | +€21,221 | +5.2% |
| Profit (loss) carried forward | 14 | -€4,800 | -€4,800 | = | 0.0% |
| Amounts payable | 17/49 | €171,335 | €137,148 | -€34,187 | -20.0% |
| Amounts payable after more than one year | 17 | €50,422 | €36,751 | -€13,671 | -27.1% |
| Financial debts | 170/4 | €50,422 | €36,751 | -€13,671 | -27.1% |
| Amounts payable within one year | 42/48 | €120,075 | €96,239 | -€23,836 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €13,371 | €13,671 | +€300 | +2.2% |
| Trade debts | 44 | €7,373 | €12,875 | +€5,501 | +74.6% |
| Suppliers | 440/4 | €7,373 | €12,875 | +€5,501 | +74.6% |
| Taxes, remuneration and social security | 45 | €99,331 | €69,694 | -€29,637 | -29.8% |
| Taxes | 450/3 | €78,340 | €47,266 | -€31,074 | -39.7% |
| Remuneration and social security | 454/9 | €20,991 | €22,427 | +€1,437 | +6.8% |
| Accrued charges and deferred income | 492/3 | €838 | €4,157 | +€3,320 | +396.4% |
| Remuneration, social security and pensions | 62 | €224,261 | €206,594 | -€17,667 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,442 | €35,058 | +€616 | +1.8% |
| Other operating charges | 640/8 | €4,737 | €3,103 | -€1,634 | -34.5% |
| Non-recurring operating charges | 66A | €11,347 | €0 | -€11,347 | -100.0% |
| Gross operating margin | 9900 | €328,593 | €308,398 | -€20,196 | -6.1% |
| Operating profit (loss) | 9901 | €53,807 | €63,643 | +€9,836 | +18.3% |
| Financial income | 75/76B | €13,891 | €13,346 | -€545 | -3.9% |
| Recurring financial income | 75 | €13,891 | €13,346 | -€545 | -3.9% |
| Financial charges | 65/66B | €3,673 | €3,269 | -€403 | -11.0% |
| Recurring financial charges | 65 | €3,673 | €3,269 | -€403 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €64,025 | €73,720 | +€9,695 | +15.1% |
| Income taxes | 67/77 | €22,052 | €21,655 | -€397 | -1.8% |
| Profit (loss) for the period | 9904 | €41,973 | €52,065 | +€10,091 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €41,973 | €52,065 | +€10,091 | +24.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.