Charles Nelly: 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.
Charles Nelly
Largest movements
- Receivables within one year -€51,044
no longer reported in 2025 (was €51,044)
- Cash +€22,284
up €22,284 (+498%), from €4,476 to €26,760
mainly Receivables within one year (+€51,044) and Other debts (+€45,626)
- Stocks and contracts -€21,403
down €21,403 (-17.0%), from €126,114 to €104,711
- Deferred charges and accrued income -€20,985
down €20,985 (-89.9%), from €23,334 to €2,349
- Tangible fixed assets -€3,520
no longer reported in 2025 (was €3,520)
- Profit (loss) carried forward -€50,619
down €50,619 (-98.5%), from €51,399 to €780
- Other debts +€45,626
new in 2025: €45,626
- Debts after one year -€41,588
down €41,588 (-61.7%), from €67,351 to €25,763
- Tax, wage and social debts -€23,881
down €23,881 (-58.5%), from €40,851 to €16,970
of which Taxes: -€14,162
- Trade debts +€15,230
up €15,230 (+65.1%), from €23,398 to €38,628
- Gross operating margin -€90,562
down €90,562 (-89.5%), from €101,231 to €10,669
- Staff costs -€31,748
down €31,748 (-41.9%), from €75,748 to €44,000
- Financial charges +€4,734
up €4,734 (+72.2%), from €6,553 to €11,287
- Taxes -€3,796
down €3,796 (-91.4%), from €4,153 to €357
- Financial income -€1,843
down €1,843 (-90.4%), from €2,039 to €196
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 | €220,518 | €144,738 | -€75,780 | -34.4% |
| Fixed assets | 21/28 | €15,550 | €10,918 | -€4,632 | -29.8% |
| Intangible fixed assets | 21 | €2,385 | €1,273 | -€1,112 | -46.6% |
| Tangible fixed assets | 22/27 | €3,520 | - | -€3,520 | |
| Furniture and vehicles | 24 | €3,520 | - | -€3,520 | |
| Financial fixed assets | 28 | €9,645 | €9,645 | = | 0.0% |
| Current assets | 29/58 | €204,968 | €133,820 | -€71,148 | -34.7% |
| Stocks and contracts in progress | 3 | €126,114 | €104,711 | -€21,403 | -17.0% |
| Stocks | 30/36 | €126,114 | €104,711 | -€21,403 | -17.0% |
| Amounts receivable within one year | 40/41 | €51,044 | - | -€51,044 | |
| Other amounts receivable | 41 | €51,044 | - | -€51,044 | |
| Cash at bank and in hand | 54/58 | €4,476 | €26,760 | +€22,284 | +498% |
| Deferred charges and accrued income | 490/1 | €23,334 | €2,349 | -€20,985 | -89.9% |
| Total equity and liabilities | 10/49 | €220,518 | €144,738 | -€75,780 | -34.4% |
| Equity | 10/15 | €54,399 | €3,780 | -€50,619 | -93.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €51,399 | €780 | -€50,619 | -98.5% |
| Amounts payable | 17/49 | €166,119 | €140,958 | -€25,161 | -15.1% |
| Amounts payable after more than one year | 17 | €67,351 | €25,763 | -€41,588 | -61.7% |
| Financial debts | 170/4 | €67,351 | €25,763 | -€41,588 | -61.7% |
| Amounts payable within one year | 42/48 | €97,475 | €114,707 | +€17,232 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €24,040 | €13,483 | -€10,557 | -43.9% |
| Financial debts | 43 | €9,186 | - | -€9,186 | |
| Credit institutions | 430/8 | €9,186 | - | -€9,186 | |
| Trade debts | 44 | €23,398 | €38,628 | +€15,230 | +65.1% |
| Suppliers | 440/4 | €23,398 | €38,628 | +€15,230 | +65.1% |
| Taxes, remuneration and social security | 45 | €40,851 | €16,970 | -€23,881 | -58.5% |
| Taxes | 450/3 | €27,586 | €13,424 | -€14,162 | -51.3% |
| Remuneration and social security | 454/9 | €13,265 | €3,546 | -€9,719 | -73.3% |
| Other amounts payable | 47/48 | - | €45,626 | +€45,626 | |
| Accrued charges and deferred income | 492/3 | €1,293 | €488 | -€805 | -62.3% |
| Remuneration, social security and pensions | 62 | €75,748 | €44,000 | -€31,748 | -41.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,631 | €4,632 | +€1 | 0.0% |
| Other operating charges | 640/8 | €1,697 | €1,208 | -€489 | -28.8% |
| Gross operating margin | 9900 | €101,231 | €10,669 | -€90,562 | -89.5% |
| Operating profit (loss) | 9901 | €19,155 | -€39,171 | -€58,326 | |
| Financial income | 75/76B | €2,039 | €196 | -€1,843 | -90.4% |
| Recurring financial income | 75 | €2,039 | €196 | -€1,843 | -90.4% |
| Financial charges | 65/66B | €6,553 | €11,287 | +€4,734 | +72.2% |
| Recurring financial charges | 65 | €6,553 | €11,287 | +€4,734 | +72.2% |
| Profit (loss) for the period before taxes | 9903 | €14,641 | -€50,262 | -€64,903 | |
| Income taxes | 67/77 | €4,153 | €357 | -€3,796 | -91.4% |
| Profit (loss) for the period | 9904 | €10,488 | -€50,619 | -€61,107 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,488 | -€50,619 | -€61,107 |
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 17 October 2026 via checked.be.