Dr NARDELLA Emily: 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.
Dr NARDELLA Emily
Largest movements
- Receivables within one year +€54,005
up €54,005 (+153%), from €35,410 to €89,415
- Intangible fixed assets -€17,900
no longer reported in 2025 (was €17,900)
- Cash -€9,077
down €9,077 (-34.3%), from €26,449 to €17,372
mainly Receivables within one year (-€54,005)
- Tangible fixed assets -€7,971
down €7,971 (-36.0%), from €22,146 to €14,174
of which Plant, machinery and equipment: -€7,461
- Reserves +€11,913
up €11,913 (+23.5%), from €50,700 to €62,612
- Trade debts +€5,485
up €5,485 (+607%), from €904 to €6,388
- Tax, wage and social debts +€1,660
up €1,660 (+8.7%), from €19,134 to €20,793
- Financial income +€2,990
up €2,990 (+849%), from €352 to €3,342
- Other operating charges +€2,513
up €2,513 (+94.5%), from €2,660 to €5,173
- Financial charges -€2,387
down €2,387 (-53.7%), from €4,441 to €2,054
- Taxes +€1,640
up €1,640 (+18.0%), from €9,085 to €10,725
- Depreciation -€714
down €714 (-2.7%), from €26,585 to €25,871
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 | €128,275 | €147,332 | +€19,057 | +14.9% |
| Fixed assets | 21/28 | €40,046 | €14,174 | -€25,871 | -64.6% |
| Intangible fixed assets | 21 | €17,900 | - | -€17,900 | |
| Tangible fixed assets | 22/27 | €22,146 | €14,174 | -€7,971 | -36.0% |
| Plant, machinery and equipment | 23 | €18,039 | €10,578 | -€7,461 | -41.4% |
| Furniture and vehicles | 24 | €850 | €340 | -€510 | -60.0% |
| Other tangible fixed assets | 26 | €3,256 | €3,256 | = | 0.0% |
| Current assets | 29/58 | €88,229 | €133,158 | +€44,928 | +50.9% |
| Amounts receivable within one year | 40/41 | €35,410 | €89,415 | +€54,005 | +153% |
| Other amounts receivable | 41 | €35,410 | €89,415 | +€54,005 | +153% |
| Cash at bank and in hand | 54/58 | €26,449 | €17,372 | -€9,077 | -34.3% |
| Deferred charges and accrued income | 490/1 | €26,370 | €26,370 | = | 0.0% |
| Total equity and liabilities | 10/49 | €128,275 | €147,332 | +€19,057 | +14.9% |
| Equity | 10/15 | €108,237 | €120,150 | +€11,913 | +11.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Share premium | 1100/10 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €50,700 | €62,612 | +€11,913 | +23.5% |
| Distributable reserves | 133 | €50,700 | €62,612 | +€11,913 | +23.5% |
| Profit (loss) carried forward | 14 | €45,138 | €45,138 | = | 0.0% |
| Amounts payable | 17/49 | €20,037 | €27,182 | +€7,144 | +35.7% |
| Amounts payable within one year | 42/48 | €20,037 | €27,182 | +€7,144 | +35.7% |
| Trade debts | 44 | €904 | €6,388 | +€5,485 | +607% |
| Suppliers | 440/4 | €904 | €6,388 | +€5,485 | +607% |
| Taxes, remuneration and social security | 45 | €19,134 | €20,793 | +€1,660 | +8.7% |
| Taxes | 450/3 | €19,134 | €20,793 | +€1,660 | +8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,585 | €25,871 | -€714 | -2.7% |
| Other operating charges | 640/8 | €2,660 | €5,173 | +€2,513 | +94.5% |
| Gross operating margin | 9900 | €51,792 | €52,394 | +€602 | +1.2% |
| Operating profit (loss) | 9901 | €22,546 | €21,349 | -€1,197 | -5.3% |
| Financial income | 75/76B | €352 | €3,342 | +€2,990 | +849% |
| Recurring financial income | 75 | €352 | €3,342 | +€2,990 | +849% |
| Financial charges | 65/66B | €4,441 | €2,054 | -€2,387 | -53.7% |
| Recurring financial charges | 65 | €4,441 | €2,054 | -€2,387 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €18,457 | €22,637 | +€4,180 | +22.6% |
| Income taxes | 67/77 | €9,085 | €10,725 | +€1,640 | +18.0% |
| Profit (loss) for the period | 9904 | €9,372 | €11,913 | +€2,540 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,372 | €11,913 | +€2,540 | +27.1% |
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 26 October 2026 via checked.be.