NEPEC: what changed
What changed
NEPEC
filed annual accounts (NBB)
Net result for the year
-€59,095
2024 · -€33,018-€26,078
Equity
-€90,491
2024 · -€31,396-€59,095
Cash
€12,581
2024 · €1,848+€10,732
Balance sheet total
€885,156
2024 · €934,167-€49,011
Largest movements
Assets
- Receivables within one year -€31,000
down €31,000 (-40.9%), from €75,785 to €44,785
- Tangible fixed assets -€24,413
down €24,413 (-3.0%), from €825,684 to €801,271
of which Land and buildings: -€47,732
- Cash +€10,732
up €10,732 (+581%), from €1,848 to €12,581
mainly Depreciation (+€52,198) and Other debts (+€31,280)
Equity and liabilities
- Profit (loss) carried forward -€57,338
down €57,338 (-42.6%), from -€134,716 to -€192,054
- Other debts +€31,280
up €31,280 (+6.1%), from €515,651 to €546,931
- Trade debts -€17,061
down €17,061 (-39.1%), from €43,675 to €26,614
Income statement
- Gross operating margin -€15,521
down €15,521 (-35.5%), from €43,679 to €28,158
- Financial charges -€3,748
down €3,748 (-21.7%), from €17,289 to €13,541
- Other operating charges -€3,242
down €3,242 (-37.9%), from €8,565 to €5,323
- Depreciation +€917
up €917 (+1.8%), from €51,282 to €52,198
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€33,018
Gross operating margin
-€15,521
Depreciation
-€917
Other operating charges
+€3,242
Other operating items
-€16,630
Financial charges
+€3,748
Result 2025
-€59,095
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€47,042
Investment
-€27,785
Financing
-€8,524
Cash 2024
€1,848
From operations (derived)
+€47,042
Net result for the year
-€59,095
Depreciation
+€52,198
Receivables within one year
+€31,000
Deferred charges and accrued income
+€4,331
Provisions
-€439
Trade debts
-€17,061
Other debts
+€31,280
Accrued charges and deferred income
+€4,829
Investment (derived)
-€27,785
Investment in fixed assets (net)
-€27,785
Financing
-€8,524
Debts after one year
-€8,787
Current portion of long-term debt
+€263
Cash 2025
€12,581
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €934,167 | €885,156 | -€49,011 | -5.2% |
| Fixed assets | 21/28 | €825,684 | €801,271 | -€24,413 | -3.0% |
| Tangible fixed assets | 22/27 | €825,684 | €801,271 | -€24,413 | -3.0% |
| Land and buildings | 22 | €774,194 | €726,462 | -€47,732 | -6.2% |
| Plant, machinery and equipment | 23 | - | €25,153 | +€25,153 | |
| Furniture and vehicles | 24 | €49,365 | €49,365 | = | 0.0% |
| Other tangible fixed assets | 26 | €2,124 | €290 | -€1,834 | -86.3% |
| Current assets | 29/58 | €108,483 | €83,885 | -€24,598 | -22.7% |
| Stocks and contracts in progress | 3 | €23,210 | €23,210 | = | 0.0% |
| Stocks | 30/36 | €23,210 | €23,210 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,785 | €44,785 | -€31,000 | -40.9% |
| Other amounts receivable | 41 | €75,785 | €44,785 | -€31,000 | -40.9% |
| Cash at bank and in hand | 54/58 | €1,848 | €12,581 | +€10,732 | +581% |
| Deferred charges and accrued income | 490/1 | €7,640 | €3,310 | -€4,331 | -56.7% |
| Total equity and liabilities | 10/49 | €934,167 | €885,156 | -€49,011 | -5.2% |
| Equity | 10/15 | -€31,396 | -€90,491 | -€59,095 | -188% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €41,320 | €39,563 | -€1,757 | -4.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | - | -€6,200 | |
| Reserves not available under the articles | 1311 | - | €6,200 | +€6,200 | |
| Tax-exempt reserves | 132 | €35,120 | €33,363 | -€1,757 | -5.0% |
| Profit (loss) carried forward | 14 | -€134,716 | -€192,054 | -€57,338 | -42.6% |
| Provisions and deferred taxes | 16 | €19,481 | €19,042 | -€439 | -2.3% |
| Deferred taxes | 168 | €19,481 | €19,042 | -€439 | -2.3% |
| Amounts payable | 17/49 | €946,082 | €956,605 | +€10,524 | +1.1% |
| Amounts payable after more than one year | 17 | €334,801 | €326,014 | -€8,787 | -2.6% |
| Financial debts | 170/4 | €334,801 | €326,014 | -€8,787 | -2.6% |
| Amounts payable within one year | 42/48 | €575,094 | €589,576 | +€14,482 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €14,269 | €14,532 | +€263 | +1.8% |
| Financial debts | 43 | €1,500 | €1,500 | = | 0.0% |
| Credit institutions | 430/8 | €1,500 | €1,500 | = | 0.0% |
| Trade debts | 44 | €43,675 | €26,614 | -€17,061 | -39.1% |
| Suppliers | 440/4 | €43,675 | €26,614 | -€17,061 | -39.1% |
| Other amounts payable | 47/48 | €515,651 | €546,931 | +€31,280 | +6.1% |
| Accrued charges and deferred income | 492/3 | €36,186 | €41,015 | +€4,829 | +13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,282 | €52,198 | +€917 | +1.8% |
| Other operating charges | 640/8 | €8,565 | €5,323 | -€3,242 | -37.9% |
| Non-recurring operating charges | 66A | - | €16,630 | +€16,630 | |
| Gross operating margin | 9900 | €43,679 | €28,158 | -€15,521 | -35.5% |
| Operating profit (loss) | 9901 | -€16,168 | -€45,994 | -€29,826 | -184% |
| Financial charges | 65/66B | €17,289 | €13,541 | -€3,748 | -21.7% |
| Recurring financial charges | 65 | €17,289 | €13,541 | -€3,748 | -21.7% |
| Profit (loss) for the period before taxes | 9903 | -€33,457 | -€59,535 | -€26,078 | -77.9% |
| Transfer from deferred taxes | 780 | €439 | €439 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€33,018 | -€59,095 | -€26,078 | -79.0% |
| Transfer from tax-exempt reserves | 789 | €1,757 | €1,757 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,260 | -€57,338 | -€26,078 | -83.4% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.