NRG Stables: 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.
NRG Stables
Largest movements
- Stocks and contracts +€20,000
up €20,000 (+30.8%), from €65,000 to €85,000
- Deferred charges and accrued income +€10,648
up €10,648 (+56.0%), from €19,012 to €29,660
- Cash -€5,632
down €5,632 (-97.1%), from €5,800 to €168
mainly Stocks and contracts (-€20,000) and Deferred charges and accrued income (-€10,648)
- Receivables within one year -€2,725
down €2,725 (-68.7%), from €3,968 to €1,243
of which Other amounts receivable: -€2,725
- Other debts +€32,493
up €32,493 (+35.5%), from €91,605 to €124,098
- Profit (loss) carried forward -€9,736
down €9,736 (-52.9%), from -€18,413 to -€28,148
- Gross operating margin -€2,809
down €2,809 (-44.4%), from -€6,330 to -€9,138
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 | €93,780 | €116,071 | +€22,291 | +23.8% |
| Current assets | 29/58 | €93,780 | €116,071 | +€22,291 | +23.8% |
| Stocks and contracts in progress | 3 | €65,000 | €85,000 | +€20,000 | +30.8% |
| Stocks | 30/36 | €65,000 | €85,000 | +€20,000 | +30.8% |
| Amounts receivable within one year | 40/41 | €3,968 | €1,243 | -€2,725 | -68.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,968 | €1,243 | -€2,725 | -68.7% |
| Cash at bank and in hand | 54/58 | €5,800 | €168 | -€5,632 | -97.1% |
| Deferred charges and accrued income | 490/1 | €19,012 | €29,660 | +€10,648 | +56.0% |
| Total equity and liabilities | 10/49 | €93,780 | €116,071 | +€22,291 | +23.8% |
| Equity | 10/15 | €1,587 | -€8,148 | -€9,736 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,413 | -€28,148 | -€9,736 | -52.9% |
| Amounts payable | 17/49 | €92,192 | €124,219 | +€32,027 | +34.7% |
| Amounts payable within one year | 42/48 | €92,192 | €124,219 | +€32,027 | +34.7% |
| Trade debts | 44 | €587 | €121 | -€466 | -79.4% |
| Suppliers | 440/4 | €587 | €121 | -€466 | -79.4% |
| Other amounts payable | 47/48 | €91,605 | €124,098 | +€32,493 | +35.5% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€6,330 | -€9,138 | -€2,809 | -44.4% |
| Operating profit (loss) | 9901 | -€6,843 | -€9,666 | -€2,823 | -41.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €68 | €70 | +€2 | +2.2% |
| Recurring financial charges | 65 | €68 | €70 | +€2 | +2.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,911 | -€9,736 | -€2,824 | -40.9% |
| Profit (loss) for the period | 9904 | -€6,911 | -€9,736 | -€2,824 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,911 | -€9,736 | -€2,824 | -40.9% |
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 18 October 2026 via checked.be.