ASK NESTOR: 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.
ASK NESTOR
Largest movements
- Receivables within one year +€68,401
up €68,401 (+52.7%), from €129,863 to €198,264
of which Trade receivables: +€61,471
- Current investments +€17,000
new in 2025: €17,000
- Cash -€7,906
down €7,906 (-46.9%), from €16,868 to €8,962
mainly Receivables within one year (-€68,401) and Investment in fixed assets (net) (-€53,752)
- Intangible fixed assets +€4,923
up €4,923 (+5.9%), from €83,515 to €88,438
- Profit (loss) carried forward +€41,017
no longer reported in 2025 (was -€41,017)
- Reserves +€29,576
up €29,576 (+62.2%), from €47,534 to €77,110
- Current portion of long-term debt +€29,506
up €29,506 (+115.9%), from €25,456 to €54,962
- Trade debts -€21,111
down €21,111 (-17.4%), from €121,376 to €100,265
- Accrued charges and deferred income -€11,535
no longer reported in 2025 (was €11,535)
- Gross operating margin +€239,017
up €239,017 (+68.5%), from €348,745 to €587,762
- Staff costs +€84,454
up €84,454 (+24.2%), from €349,497 to €433,951
- Depreciation +€10,069
up €10,069 (+27.0%), from €37,229 to €47,298
- Taxes +€9,333
up €9,333 (+3748.2%), from €249 to €9,582
- Financial charges +€6,178
up €6,178 (+237.3%), from €2,604 to €8,782
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 | €262,494 | €344,867 | +€82,373 | +31.4% |
| Fixed assets | 21/28 | €112,450 | €118,904 | +€6,454 | +5.7% |
| Intangible fixed assets | 21 | €83,515 | €88,438 | +€4,923 | +5.9% |
| Tangible fixed assets | 22/27 | €28,935 | €30,466 | +€1,531 | +5.3% |
| Furniture and vehicles | 24 | €19,501 | €25,643 | +€6,142 | +31.5% |
| Other tangible fixed assets | 26 | €9,434 | €4,823 | -€4,611 | -48.9% |
| Current assets | 29/58 | €150,044 | €225,963 | +€75,919 | +50.6% |
| Amounts receivable within one year | 40/41 | €129,863 | €198,264 | +€68,401 | +52.7% |
| Trade receivables | 40 | €110,193 | €171,664 | +€61,471 | +55.8% |
| Other amounts receivable | 41 | €19,670 | €26,600 | +€6,930 | +35.2% |
| Current investments | 50/53 | - | €17,000 | +€17,000 | |
| Cash at bank and in hand | 54/58 | €16,868 | €8,962 | -€7,906 | -46.9% |
| Deferred charges and accrued income | 490/1 | €3,313 | €1,737 | -€1,576 | -47.6% |
| Total equity and liabilities | 10/49 | €262,494 | €344,867 | +€82,373 | +31.4% |
| Equity | 10/15 | €19,517 | €90,110 | +€70,593 | +361.7% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Reserves | 13 | €47,534 | €77,110 | +€29,576 | +62.2% |
| Distributable reserves | 133 | €47,534 | €77,110 | +€29,576 | +62.2% |
| Profit (loss) carried forward | 14 | -€41,017 | - | +€41,017 | |
| Amounts payable | 17/49 | €242,977 | €254,757 | +€11,780 | +4.8% |
| Amounts payable after more than one year | 17 | €3,570 | €12,263 | +€8,693 | +243.5% |
| Financial debts | 170/4 | €3,570 | €12,263 | +€8,693 | +243.5% |
| Amounts payable within one year | 42/48 | €227,872 | €242,494 | +€14,622 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €25,456 | €54,962 | +€29,506 | +115.9% |
| Trade debts | 44 | €121,376 | €100,265 | -€21,111 | -17.4% |
| Suppliers | 440/4 | €121,376 | €100,265 | -€21,111 | -17.4% |
| Taxes, remuneration and social security | 45 | €79,445 | €77,087 | -€2,358 | -3.0% |
| Taxes | 450/3 | €12,606 | €20,536 | +€7,930 | +62.9% |
| Remuneration and social security | 454/9 | €66,839 | €56,551 | -€10,288 | -15.4% |
| Other amounts payable | 47/48 | €1,595 | €10,180 | +€8,585 | +538.2% |
| Accrued charges and deferred income | 492/3 | €11,535 | - | -€11,535 | |
| Non-recurring operating income | 76A | €6,574 | €1,323 | -€5,251 | -79.9% |
| Remuneration, social security and pensions | 62 | €349,497 | €433,951 | +€84,454 | +24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,229 | €47,298 | +€10,069 | +27.0% |
| Other operating charges | 640/8 | €2,553 | €7,662 | +€5,109 | +200.1% |
| Non-recurring operating charges | 66A | €30,989 | - | -€30,989 | |
| Gross operating margin | 9900 | €348,745 | €587,762 | +€239,017 | +68.5% |
| Operating profit (loss) | 9901 | -€71,523 | €98,851 | +€170,374 | |
| Financial income | 75/76B | €140 | €107 | -€33 | -23.6% |
| Recurring financial income | 75 | €140 | €107 | -€33 | -23.6% |
| Financial charges | 65/66B | €2,604 | €8,782 | +€6,178 | +237.3% |
| Recurring financial charges | 65 | €2,604 | €8,782 | +€6,178 | +237.3% |
| Profit (loss) for the period before taxes | 9903 | -€73,987 | €90,176 | +€164,163 | |
| Income taxes | 67/77 | €249 | €9,582 | +€9,333 | +3748.2% |
| Profit (loss) for the period | 9904 | -€74,236 | €80,594 | +€154,830 | |
| Profit (loss) for the period to be appropriated | 9905 | -€74,236 | €80,594 | +€154,830 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.