NEVEN & MOERMANS: 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.
NEVEN & MOERMANS
Largest movements
- Cash +€44,087
up €44,087 (+44.6%), from €98,786 to €142,873
mainly Depreciation (+€40,316) and Net result for the year (+€33,474)
- Receivables within one year -€16,727
down €16,727 (-20.3%), from €82,439 to €65,711
of which Other amounts receivable: -€16,218
- Stocks and contracts +€5,000
new in 2025: €5,000
- Deferred charges and accrued income +€3,879
up €3,879 (+48.6%), from €7,979 to €11,858
- Trade debts +€29,867
up €29,867 (+964%), from €3,099 to €32,967
- Other debts -€12,611
down €12,611 (-55.2%), from €22,834 to €10,223
- Reserves +€9,338
up €9,338 (+5.6%), from €166,593 to €175,931
- Debts after one year +€7,646
up €7,646 (+30.9%), from €24,729 to €32,375
- Financial charges -€6,045
down €6,045 (-55.9%), from €10,812 to €4,767
- Staff costs -€3,569
down €3,569 (-6.6%), from €54,414 to €50,845
- Depreciation +€3,546
up €3,546 (+9.6%), from €36,770 to €40,316
- Gross operating margin -€2,713
down €2,713 (-1.9%), from €141,478 to €138,766
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 | €249,336 | €283,596 | +€34,260 | +13.7% |
| Fixed assets | 21/28 | €60,132 | €58,154 | -€1,978 | -3.3% |
| Tangible fixed assets | 22/27 | €59,512 | €57,534 | -€1,978 | -3.3% |
| Plant, machinery and equipment | 23 | €1,940 | €899 | -€1,041 | -53.7% |
| Furniture and vehicles | 24 | €57,572 | €56,635 | -€937 | -1.6% |
| Financial fixed assets | 28 | €620 | €620 | = | 0.0% |
| Current assets | 29/58 | €189,204 | €225,443 | +€36,239 | +19.2% |
| Stocks and contracts in progress | 3 | - | €5,000 | +€5,000 | |
| Contracts in progress | 37 | - | €5,000 | +€5,000 | |
| Amounts receivable within one year | 40/41 | €82,439 | €65,711 | -€16,727 | -20.3% |
| Trade receivables | 40 | €58,665 | €58,156 | -€510 | -0.9% |
| Other amounts receivable | 41 | €23,773 | €7,556 | -€16,218 | -68.2% |
| Cash at bank and in hand | 54/58 | €98,786 | €142,873 | +€44,087 | +44.6% |
| Deferred charges and accrued income | 490/1 | €7,979 | €11,858 | +€3,879 | +48.6% |
| Total equity and liabilities | 10/49 | €249,336 | €283,596 | +€34,260 | +13.7% |
| Equity | 10/15 | €172,793 | €182,131 | +€9,338 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €166,593 | €175,931 | +€9,338 | +5.6% |
| Distributable reserves | 133 | €166,593 | €175,931 | +€9,338 | +5.6% |
| Amounts payable | 17/49 | €76,543 | €101,465 | +€24,922 | +32.6% |
| Amounts payable after more than one year | 17 | €24,729 | €32,375 | +€7,646 | +30.9% |
| Financial debts | 170/4 | €24,729 | €32,375 | +€7,646 | +30.9% |
| Amounts payable within one year | 42/48 | €51,814 | €69,091 | +€17,277 | +33.3% |
| Current portion of amounts payable after more than one year | 42 | €20,593 | €23,276 | +€2,684 | +13.0% |
| Trade debts | 44 | €3,099 | €32,967 | +€29,867 | +964% |
| Suppliers | 440/4 | €3,099 | €32,967 | +€29,867 | +964% |
| Taxes, remuneration and social security | 45 | €5,288 | €2,625 | -€2,664 | -50.4% |
| Taxes | 450/3 | €5,288 | €178 | -€5,110 | -96.6% |
| Remuneration and social security | 454/9 | €0 | €2,446 | +€2,446 | +2,718,100% |
| Other amounts payable | 47/48 | €22,834 | €10,223 | -€12,611 | -55.2% |
| Non-recurring operating income | 76A | €640 | €8,581 | +€7,941 | +1,241% |
| Remuneration, social security and pensions | 62 | €54,414 | €50,845 | -€3,569 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,770 | €40,316 | +€3,546 | +9.6% |
| Other operating charges | 640/8 | €62 | €171 | +€109 | +176% |
| Gross operating margin | 9900 | €141,478 | €138,766 | -€2,713 | -1.9% |
| Operating profit (loss) | 9901 | €50,232 | €47,434 | -€2,799 | -5.6% |
| Financial income | 75/76B | €3,976 | €4,127 | +€151 | +3.8% |
| Recurring financial income | 75 | €3,976 | €4,127 | +€151 | +3.8% |
| Financial charges | 65/66B | €10,812 | €4,767 | -€6,045 | -55.9% |
| Recurring financial charges | 65 | €10,812 | €4,767 | -€6,045 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €43,397 | €46,794 | +€3,397 | +7.8% |
| Income taxes | 67/77 | €12,868 | €13,319 | +€452 | +3.5% |
| Profit (loss) for the period | 9904 | €30,529 | €33,474 | +€2,946 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €30,529 | €33,474 | +€2,946 | +9.6% |
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 28 October 2026 via checked.be.