NEVERMORE: 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.
NEVERMORE
Largest movements
- Current investments +€21,786
up €21,786 (+21.3%), from €102,125 to €123,911
- Cash -€20,059
down €20,059 (-87.6%), from €22,892 to €2,833
mainly Current investments (-€21,786) and Deferred charges and accrued income (-€13,181)
- Deferred charges and accrued income +€13,181
up €13,181 (+347.4%), from €3,794 to €16,975
- Receivables within one year -€8,443
down €8,443 (-68.2%), from €12,383 to €3,940
of which Trade receivables: -€8,484
- Reserves +€15,335
up €15,335 (+23.4%), from €65,581 to €80,915
- Debts after one year -€9,722
down €9,722 (-25.4%), from €38,327 to €28,604
- Other debts -€7,890
down €7,890 (-55.5%), from €14,210 to €6,319
- Trade debts +€4,037
up €4,037 (+75.4%), from €5,355 to €9,392
- Tax, wage and social debts +€3,658
up €3,658 (+146.8%), from €2,491 to €6,149
- Gross operating margin +€19,816
up €19,816 (+197.4%), from €10,039 to €29,854
- Taxes +€7,103
up €7,103 (+257.5%), from €2,759 to €9,862
- Other operating charges +€1,270
up €1,270 (+118.1%), from €1,075 to €2,346
- Financial income +€1,057
up €1,057 (+242.9%), from €435 to €1,491
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 | €141,343 | €147,809 | +€6,466 | +4.6% |
| Fixed assets | 21/28 | €150 | €150 | = | 0.0% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €141,193 | €147,659 | +€6,466 | +4.6% |
| Amounts receivable within one year | 40/41 | €12,383 | €3,940 | -€8,443 | -68.2% |
| Trade receivables | 40 | €8,484 | €0 | -€8,484 | -100.0% |
| Other amounts receivable | 41 | €3,899 | €3,940 | +€41 | +1.1% |
| Current investments | 50/53 | €102,125 | €123,911 | +€21,786 | +21.3% |
| Cash at bank and in hand | 54/58 | €22,892 | €2,833 | -€20,059 | -87.6% |
| Deferred charges and accrued income | 490/1 | €3,794 | €16,975 | +€13,181 | +347.4% |
| Total equity and liabilities | 10/49 | €141,343 | €147,809 | +€6,466 | +4.6% |
| Equity | 10/15 | €71,581 | €86,915 | +€15,335 | +21.4% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €65,581 | €80,915 | +€15,335 | +23.4% |
| Distributable reserves | 133 | €65,581 | €80,915 | +€15,335 | +23.4% |
| Amounts payable | 17/49 | €69,762 | €60,893 | -€8,869 | -12.7% |
| Amounts payable after more than one year | 17 | €38,327 | €28,604 | -€9,722 | -25.4% |
| Financial debts | 170/4 | €38,327 | €28,604 | -€9,722 | -25.4% |
| Amounts payable within one year | 42/48 | €31,435 | €32,289 | +€853 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €9,380 | €9,722 | +€342 | +3.6% |
| Financial debts | 43 | - | €211 | +€211 | |
| Credit institutions | 430/8 | - | €211 | +€211 | |
| Trade debts | 44 | €5,355 | €9,392 | +€4,037 | +75.4% |
| Suppliers | 440/4 | €5,355 | €9,392 | +€4,037 | +75.4% |
| Advances received on contracts in progress | 46 | - | €496 | +€496 | |
| Taxes, remuneration and social security | 45 | €2,491 | €6,149 | +€3,658 | +146.8% |
| Taxes | 450/3 | €2,491 | €6,149 | +€3,658 | +146.8% |
| Other amounts payable | 47/48 | €14,210 | €6,319 | -€7,890 | -55.5% |
| Other operating charges | 640/8 | €1,075 | €2,346 | +€1,270 | +118.1% |
| Gross operating margin | 9900 | €10,039 | €29,854 | +€19,816 | +197.4% |
| Operating profit (loss) | 9901 | €8,963 | €27,509 | +€18,546 | +206.9% |
| Financial income | 75/76B | €435 | €1,491 | +€1,057 | +242.9% |
| Recurring financial income | 75 | €435 | €1,491 | +€1,057 | +242.9% |
| Financial charges | 65/66B | €3,875 | €3,803 | -€72 | -1.9% |
| Recurring financial charges | 65 | €3,875 | €3,803 | -€72 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €5,523 | €25,197 | +€19,674 | +356.2% |
| Income taxes | 67/77 | €2,759 | €9,862 | +€7,103 | +257.5% |
| Profit (loss) for the period | 9904 | €2,764 | €15,335 | +€12,571 | +454.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,764 | €15,335 | +€12,571 | +454.8% |
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 5 October 2026 via checked.be.