NEVER SAY NEVER: 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.
NEVER SAY NEVER
Largest movements
- Cash +€32,147
up €32,147 (+37.8%), from €85,147 to €117,294
mainly Other debts (+€47,997) and Net result for the year (+€42,673)
- Receivables within one year +€6,898
up €6,898 (+51.6%), from €13,361 to €20,259
of which Other amounts receivable: +€6,898
- Reserves -€66,520
no longer reported in 2025 (was €66,520)
- Profit (loss) carried forward +€59,193
up €59,193 (+566%), from €10,455 to €69,648
- Other debts +€47,997
up €47,997 (+96.8%), from €49,585 to €97,582
- Gross operating margin -€26,097
down €26,097 (-31.1%), from €83,988 to €57,891
- Taxes -€8,203
down €8,203 (-36.0%), from €22,798 to €14,595
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 | €173,734 | €212,778 | +€39,045 | +22.5% |
| Fixed assets | 21/28 | €75,039 | €75,039 | = | 0.0% |
| Tangible fixed assets | 22/27 | €75,039 | €75,039 | = | 0.0% |
| Furniture and vehicles | 24 | €75,039 | €75,039 | = | 0.0% |
| Current assets | 29/58 | €98,695 | €137,739 | +€39,045 | +39.6% |
| Amounts receivable within one year | 40/41 | €13,361 | €20,259 | +€6,898 | +51.6% |
| Trade receivables | 40 | €12,154 | €12,154 | = | 0.0% |
| Other amounts receivable | 41 | €1,206 | €8,104 | +€6,898 | +572% |
| Cash at bank and in hand | 54/58 | €85,147 | €117,294 | +€32,147 | +37.8% |
| Deferred charges and accrued income | 490/1 | €187 | €187 | = | 0.0% |
| Total equity and liabilities | 10/49 | €173,734 | €212,778 | +€39,045 | +22.5% |
| Equity | 10/15 | €95,526 | €88,198 | -€7,327 | -7.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €66,520 | - | -€66,520 | |
| Distributable reserves | 133 | €66,520 | - | -€66,520 | |
| Profit (loss) carried forward | 14 | €10,455 | €69,648 | +€59,193 | +566% |
| Amounts payable | 17/49 | €78,208 | €124,580 | +€46,372 | +59.3% |
| Amounts payable within one year | 42/48 | €78,208 | €124,580 | +€46,372 | +59.3% |
| Trade debts | 44 | €1,540 | - | -€1,540 | |
| Suppliers | 440/4 | €1,540 | - | -€1,540 | |
| Taxes, remuneration and social security | 45 | €27,083 | €26,998 | -€86 | -0.3% |
| Taxes | 450/3 | €27,083 | €26,998 | -€86 | -0.3% |
| Other amounts payable | 47/48 | €49,585 | €97,582 | +€47,997 | +96.8% |
| Other operating charges | 640/8 | €974 | €520 | -€454 | -46.6% |
| Gross operating margin | 9900 | €83,988 | €57,891 | -€26,097 | -31.1% |
| Operating profit (loss) | 9901 | €83,014 | €57,371 | -€25,643 | -30.9% |
| Financial charges | 65/66B | €53 | €103 | +€50 | +95.9% |
| Recurring financial charges | 65 | €53 | €103 | +€50 | +95.9% |
| Profit (loss) for the period before taxes | 9903 | €82,962 | €57,268 | -€25,694 | -31.0% |
| Income taxes | 67/77 | €22,798 | €14,595 | -€8,203 | -36.0% |
| Profit (loss) for the period | 9904 | €60,164 | €42,673 | -€17,491 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,164 | €42,673 | -€17,491 | -29.1% |
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 16 October 2026 via checked.be.