NRE: 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.
NRE
Largest movements
- Receivables within one year +€59,104
up €59,104 (+129.7%), from €45,560 to €104,664
- Cash -€36,153
down €36,153 (-17.5%), from €207,160 to €171,007
mainly Contributions, distributions and other (-€64,070) and Receivables within one year (-€59,104)
- Tangible fixed assets -€5,325
down €5,325 (-22.6%), from €23,572 to €18,247
of which Leasing and similar rights: -€5,905
- Other debts +€44,360
up €44,360 (+118.3%), from €37,494 to €81,854
- Accrued charges and deferred income -€38,858
down €38,858 (-67.7%), from €57,376 to €18,518
- Profit (loss) carried forward +€34,041
up €34,041 (+179.4%), from €18,974 to €53,015
- Contributions -€14,666
down €14,666 (-58.7%), from €25,000 to €10,334
- Tax, wage and social debts +€6,513
up €6,513 (+31.2%), from €20,874 to €27,387
of which Taxes: +€8,313
- Gross operating margin +€97,956
up €97,956 (+482.3%), from €20,309 to €118,265
- Taxes +€26,018
up €26,018 (+931.5%), from €2,793 to €28,811
- Financial income -€1,243
down €1,243 (-60.8%), from €2,045 to €802
- Depreciation +€1,230
up €1,230 (+13.9%), from €8,843 to €10,073
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 | €291,276 | €306,831 | +€15,555 | +5.3% |
| Fixed assets | 21/28 | €26,762 | €20,118 | -€6,644 | -24.8% |
| Intangible fixed assets | 21 | €3,190 | €1,871 | -€1,319 | -41.3% |
| Tangible fixed assets | 22/27 | €23,572 | €18,247 | -€5,325 | -22.6% |
| Plant, machinery and equipment | 23 | €1,911 | €4,657 | +€2,746 | +143.7% |
| Furniture and vehicles | 24 | €7,068 | €4,902 | -€2,166 | -30.6% |
| Leasing and similar rights | 25 | €14,593 | €8,688 | -€5,905 | -40.5% |
| Current assets | 29/58 | €264,514 | €286,713 | +€22,199 | +8.4% |
| Stocks and contracts in progress | 3 | €11,189 | €9,154 | -€2,035 | -18.2% |
| Stocks | 30/36 | €11,189 | €9,154 | -€2,035 | -18.2% |
| Amounts receivable within one year | 40/41 | €45,560 | €104,664 | +€59,104 | +129.7% |
| Trade receivables | 40 | €45,560 | €104,664 | +€59,104 | +129.7% |
| Cash at bank and in hand | 54/58 | €207,160 | €171,007 | -€36,153 | -17.5% |
| Deferred charges and accrued income | 490/1 | €605 | €1,888 | +€1,283 | +212.1% |
| Total equity and liabilities | 10/49 | €291,276 | €306,831 | +€15,555 | +5.3% |
| Equity | 10/15 | €97,351 | €112,156 | +€14,805 | +15.2% |
| Contributions | 10/11 | €25,000 | €10,334 | -€14,666 | -58.7% |
| Reserves | 13 | €53,377 | €48,807 | -€4,570 | -8.6% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €50,877 | €46,307 | -€4,570 | -9.0% |
| Profit (loss) carried forward | 14 | €18,974 | €53,015 | +€34,041 | +179.4% |
| Amounts payable | 17/49 | €193,925 | €194,675 | +€750 | +0.4% |
| Amounts payable after more than one year | 17 | €7,064 | €2,078 | -€4,986 | -70.6% |
| Financial debts | 170/4 | €7,064 | €2,078 | -€4,986 | -70.6% |
| Amounts payable within one year | 42/48 | €129,485 | €174,079 | +€44,594 | +34.4% |
| Current portion of amounts payable after more than one year | 42 | €4,986 | €4,986 | = | 0.0% |
| Trade debts | 44 | €66,131 | €59,852 | -€6,279 | -9.5% |
| Suppliers | 440/4 | €66,131 | €59,852 | -€6,279 | -9.5% |
| Taxes, remuneration and social security | 45 | €20,874 | €27,387 | +€6,513 | +31.2% |
| Taxes | 450/3 | €18,624 | €26,937 | +€8,313 | +44.6% |
| Remuneration and social security | 454/9 | €2,250 | €450 | -€1,800 | -80.0% |
| Other amounts payable | 47/48 | €37,494 | €81,854 | +€44,360 | +118.3% |
| Accrued charges and deferred income | 492/3 | €57,376 | €18,518 | -€38,858 | -67.7% |
| Remuneration, social security and pensions | 62 | - | €198 | +€198 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,843 | €10,073 | +€1,230 | +13.9% |
| Other operating charges | 640/8 | €751 | €894 | +€143 | +19.0% |
| Gross operating margin | 9900 | €20,309 | €118,265 | +€97,956 | +482.3% |
| Operating profit (loss) | 9901 | €10,715 | €107,100 | +€96,385 | +899.5% |
| Financial income | 75/76B | €2,045 | €802 | -€1,243 | -60.8% |
| Recurring financial income | 75 | €2,045 | €802 | -€1,243 | -60.8% |
| Financial charges | 65/66B | €99 | €216 | +€117 | +118.2% |
| Recurring financial charges | 65 | €99 | €216 | +€117 | +118.2% |
| Profit (loss) for the period before taxes | 9903 | €12,661 | €107,686 | +€95,025 | +750.5% |
| Income taxes | 67/77 | €2,793 | €28,811 | +€26,018 | +931.5% |
| Profit (loss) for the period | 9904 | €9,868 | €78,875 | +€69,007 | +699.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,868 | €78,875 | +€69,007 | +699.3% |
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 10 October 2026 via checked.be.