DONALD NIESTEN: 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.
What changed
DONALD NIESTEN
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€659,175
2024 · €636,815+€22,360
Equity
€4.0m
2024 · €3.6m+€359,175
Cash
€1.7m
2024 · €1.6m+€127,013
Balance sheet total
€5.8m
2024 · €5.1m+€647,870
Largest movements
Assets
- Receivables after one year +€1.4m
new in 2025: €1.4m
- Financial fixed assets -€1.2m
no longer reported in 2025 (was €1.2m)
- Current investments +€521,364
new in 2025: €521,364
- Receivables within one year -€151,674
down €151,674 (-36.3%), from €417,736 to €266,061
of which Other amounts receivable: -€152,632
- Cash +€127,013
up €127,013 (+7.8%), from €1.6m to €1.7m
mainly Investment in fixed assets (net) (+€1.1m) and Net result for the year (+€659,175)
Equity and liabilities
- Reserves +€359,175
up €359,175 (+11.2%), from €3.2m to €3.6m
of which Distributable reserves: +€359,175
- Other debts +€327,092
up €327,092 (+48.2%), from €678,626 to €1.0m
- Debts after one year -€87,500
down €87,500 (-24.0%), from €364,583 to €277,083
Income statement
- Financial income +€38,159
up €38,159 (+138%), from €27,669 to €65,828
- Gross operating margin -€27,769
down €27,769 (-2.6%), from €1.1m to €1.0m
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.
Result 2024
€636,815
Gross operating margin
-€27,769
Depreciation
+€6,019
Other operating charges
-€1,705
Other operating items
-€1,807
Financial income
+€38,159
Financial charges
-€187
Taxes
+€9,650
Result 2025
€659,175
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€91,534
Investment
+€606,048
Financing
-€387,500
Cash 2024
€1.6m
From operations (derived)
-€91,534
Net result for the year
+€659,175
Depreciation
+€85,108
Receivables after one year
-€1.4m
Receivables within one year
+€151,674
Deferred charges and accrued income
-€3,686
Smaller working-capital items
+€502
Tax, wage and social debts
+€40,061
Advances received
+€8,540
Other debts
+€327,092
Investment (derived)
+€606,048
Investment in fixed assets (net)
+€1.1m
Current investments
-€521,364
Financing
-€387,500
Debts after one year
-€87,500
Contributions, distributions and other
-€300,000
Cash 2025
€1.7m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,138,600 | €5,786,470 | +€647,870 | +12.6% |
| Fixed assets | 21/28 | €3,068,988 | €1,856,468 | -€1.2m | -39.5% |
| Tangible fixed assets | 22/27 | €1,856,988 | €1,856,468 | -€519 | 0.0% |
| Land and buildings | 22 | €1,801,504 | €1,754,229 | -€47,275 | -2.6% |
| Furniture and vehicles | 24 | €55,484 | €102,239 | +€46,755 | +84.3% |
| Financial fixed assets | 28 | €1,212,000 | - | -€1.2m | |
| Current assets | 29/58 | €2,069,613 | €3,930,002 | +€1.9m | +89.9% |
| Amounts receivable after more than one year | 29 | - | €1,360,000 | +€1.4m | |
| Other amounts receivable | 291 | - | €1,360,000 | +€1.4m | |
| Amounts receivable within one year | 40/41 | €417,736 | €266,061 | -€151,674 | -36.3% |
| Trade receivables | 40 | €6,776 | €7,733 | +€957 | +14.1% |
| Other amounts receivable | 41 | €410,959 | €258,328 | -€152,632 | -37.1% |
| Current investments | 50/53 | - | €521,364 | +€521,364 | |
| Cash at bank and in hand | 54/58 | €1,620,564 | €1,747,577 | +€127,013 | +7.8% |
| Deferred charges and accrued income | 490/1 | €31,313 | €35,000 | +€3,686 | +11.8% |
| Total equity and liabilities | 10/49 | €5,138,600 | €5,786,470 | +€647,870 | +12.6% |
| Equity | 10/15 | €3,596,117 | €3,955,292 | +€359,175 | +10.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €3,213,218 | €3,572,393 | +€359,175 | +11.2% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €796 | €796 | = | 0.0% |
| Distributable reserves | 133 | €3,202,421 | €3,561,596 | +€359,175 | +11.2% |
| Profit (loss) carried forward | 14 | €282,899 | €282,899 | = | 0.0% |
| Provisions and deferred taxes | 16 | €65,000 | €65,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €65,000 | €65,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €65,000 | €65,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,477,484 | €1,766,179 | +€288,695 | +19.5% |
| Amounts payable after more than one year | 17 | €364,583 | €277,083 | -€87,500 | -24.0% |
| Financial debts | 170/4 | €364,583 | €277,083 | -€87,500 | -24.0% |
| Amounts payable within one year | 42/48 | €1,075,988 | €1,452,055 | +€376,066 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | €87,500 | €87,500 | = | 0.0% |
| Trade debts | 44 | €853 | €1,226 | +€373 | +43.8% |
| Suppliers | 440/4 | €853 | €1,226 | +€373 | +43.8% |
| Advances received on contracts in progress | 46 | - | €8,540 | +€8,540 | |
| Taxes, remuneration and social security | 45 | €309,009 | €349,070 | +€40,061 | +13.0% |
| Taxes | 450/3 | €308,781 | €348,842 | +€40,061 | +13.0% |
| Remuneration and social security | 454/9 | €228 | €228 | +€0 | +0.2% |
| Other amounts payable | 47/48 | €678,626 | €1,005,718 | +€327,092 | +48.2% |
| Accrued charges and deferred income | 492/3 | €36,912 | €37,041 | +€129 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,127 | €85,108 | -€6,019 | -6.6% |
| Other operating charges | 640/8 | €12,536 | €14,241 | +€1,705 | +13.6% |
| Non-recurring operating charges | 66A | - | €1,807 | +€1,807 | |
| Gross operating margin | 9900 | €1,057,978 | €1,030,209 | -€27,769 | -2.6% |
| Operating profit (loss) | 9901 | €954,315 | €929,053 | -€25,262 | -2.6% |
| Financial income | 75/76B | €27,669 | €65,828 | +€38,159 | +138% |
| Recurring financial income | 75 | €27,669 | €65,828 | +€38,159 | +138% |
| Financial charges | 65/66B | €44,473 | €44,660 | +€187 | +0.4% |
| Recurring financial charges | 65 | €44,473 | €44,660 | +€187 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €937,512 | €950,222 | +€12,710 | +1.4% |
| Income taxes | 67/77 | €300,697 | €291,047 | -€9,650 | -3.2% |
| Profit (loss) for the period | 9904 | €636,815 | €659,175 | +€22,360 | +3.5% |
| Profit (loss) for the period to be appropriated | 9905 | €636,815 | €659,175 | +€22,360 | +3.5% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.