NEVEST: 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.
NEVEST
Largest movements
- Tangible fixed assets +€100,782
up €100,782 (+14.3%), from €703,036 to €803,818
of which Land and buildings: +€101,294
- Stocks and contracts +€97,531
up €97,531 (+70.9%), from €137,469 to €235,000
of which Contracts in progress: +€100,000
- Receivables within one year -€15,190
down €15,190 (-13.4%), from €113,395 to €98,204
of which Trade receivables: -€19,869
- Other debts +€136,060
up €136,060 (+145.7%), from €93,354 to €229,415
- Debts after one year +€96,726
up €96,726 (+29.9%), from €323,974 to €420,700
- Current portion of long-term debt -€54,377
down €54,377 (-54.9%), from €99,125 to €44,749
- Trade debts -€25,577
down €25,577 (-77.7%), from €32,897 to €7,320
- Reserves +€19,427
up €19,427 (+8.2%), from €236,769 to €256,195
of which Distributable reserves: +€22,834
- Financial charges +€7,653
up €7,653 (+42.6%), from €17,951 to €25,604
- Other operating charges +€4,432
up €4,432 (+121.1%), from €3,661 to €8,093
- Write-downs -€3,375
down €3,375 (-31.2%), from €10,813 to €7,438
- Depreciation +€1,693
up €1,693 (+3.6%), from €47,525 to €49,218
- Taxes -€1,379
down €1,379 (-11.9%), from €11,606 to €10,227
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 | €980,212 | €1,157,501 | +€177,289 | +18.1% |
| Fixed assets | 21/28 | €707,941 | €804,018 | +€96,077 | +13.6% |
| Tangible fixed assets | 22/27 | €703,036 | €803,818 | +€100,782 | +14.3% |
| Land and buildings | 22 | €700,773 | €802,068 | +€101,294 | +14.5% |
| Plant, machinery and equipment | 23 | €2,262 | €1,750 | -€512 | -22.6% |
| Financial fixed assets | 28 | €4,905 | €200 | -€4,705 | -95.9% |
| Current assets | 29/58 | €272,271 | €353,483 | +€81,212 | +29.8% |
| Stocks and contracts in progress | 3 | €137,469 | €235,000 | +€97,531 | +70.9% |
| Stocks | 30/36 | €2,469 | - | -€2,469 | |
| Contracts in progress | 37 | €135,000 | €235,000 | +€100,000 | +74.1% |
| Amounts receivable within one year | 40/41 | €113,395 | €98,204 | -€15,190 | -13.4% |
| Trade receivables | 40 | €58,159 | €38,290 | -€19,869 | -34.2% |
| Other amounts receivable | 41 | €55,236 | €59,915 | +€4,679 | +8.5% |
| Current investments | 50/53 | €15,556 | €15,556 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,569 | €2,372 | -€3,197 | -57.4% |
| Deferred charges and accrued income | 490/1 | €282 | €2,350 | +€2,068 | +733.2% |
| Total equity and liabilities | 10/49 | €980,212 | €1,157,501 | +€177,289 | +18.1% |
| Equity | 10/15 | €298,742 | €318,169 | +€19,427 | +6.5% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €236,769 | €256,195 | +€19,427 | +8.2% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Tax-exempt reserves | 132 | €96,724 | €93,316 | -€3,408 | -3.5% |
| Distributable reserves | 133 | €133,847 | €156,682 | +€22,834 | +17.1% |
| Provisions and deferred taxes | 16 | €124,942 | €123,621 | -€1,321 | -1.1% |
| Provisions for liabilities and charges | 160/5 | €87,886 | €87,886 | = | 0.0% |
| Major repairs and maintenance | 162 | €87,886 | €87,886 | = | 0.0% |
| Deferred taxes | 168 | €37,057 | €35,735 | -€1,321 | -3.6% |
| Amounts payable | 17/49 | €556,527 | €715,711 | +€159,184 | +28.6% |
| Amounts payable after more than one year | 17 | €323,974 | €420,700 | +€96,726 | +29.9% |
| Financial debts | 170/4 | €323,974 | €420,700 | +€96,726 | +29.9% |
| Amounts payable within one year | 42/48 | €232,553 | €288,265 | +€55,712 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €99,125 | €44,749 | -€54,377 | -54.9% |
| Trade debts | 44 | €32,897 | €7,320 | -€25,577 | -77.7% |
| Suppliers | 440/4 | €32,897 | €7,320 | -€25,577 | -77.7% |
| Taxes, remuneration and social security | 45 | €7,176 | €6,781 | -€395 | -5.5% |
| Taxes | 450/3 | €7,176 | €6,781 | -€395 | -5.5% |
| Other amounts payable | 47/48 | €93,354 | €229,415 | +€136,060 | +145.7% |
| Accrued charges and deferred income | 492/3 | - | €6,746 | +€6,746 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,525 | €49,218 | +€1,693 | +3.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,813 | €7,438 | -€3,375 | -31.2% |
| Other operating charges | 640/8 | €3,661 | €8,093 | +€4,432 | +121.1% |
| Gross operating margin | 9900 | €117,483 | €118,385 | +€902 | +0.8% |
| Operating profit (loss) | 9901 | €55,484 | €53,636 | -€1,848 | -3.3% |
| Financial income | 75/76B | €800 | €301 | -€499 | -62.4% |
| Recurring financial income | 75 | €800 | €301 | -€499 | -62.4% |
| Financial charges | 65/66B | €17,951 | €25,604 | +€7,653 | +42.6% |
| Recurring financial charges | 65 | €17,951 | €25,604 | +€7,653 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €38,333 | €28,333 | -€10,000 | -26.1% |
| Transfer from deferred taxes | 780 | €1,321 | €1,321 | = | 0.0% |
| Income taxes | 67/77 | €11,606 | €10,227 | -€1,379 | -11.9% |
| Profit (loss) for the period | 9904 | €28,049 | €19,427 | -€8,622 | -30.7% |
| Transfer from tax-exempt reserves | 789 | €3,408 | €3,408 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €31,456 | €22,834 | -€8,622 | -27.4% |
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 9 October 2026 via checked.be.