DR. NELIS E.: 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. NELIS E.
Largest movements
- Cash -€250,965
down €250,965 (-92.5%), from €271,348 to €20,383
mainly Contributions, distributions and other (-€216,491) and Receivables within one year (-€81,670)
- Receivables within one year +€81,670
new in 2025: €81,670
- Current investments -€36,315
down €36,315 (-22.9%), from €158,332 to €122,017
- Reserves -€201,661
down €201,661 (-48.4%), from €416,934 to €215,272
- Tax, wage and social debts -€4,866
down €4,866 (-90.7%), from €5,366 to €500
- Gross operating margin -€68,382
down €68,382 (-87.6%), from €78,044 to €9,662
- Taxes -€18,939
down €18,939 (-74.7%), from €25,354 to €6,415
- Financial income +€11,415
up €11,415 (+364%), from €3,134 to €14,550
of which Financial income: +€6,808
- Financial charges -€1,504
down €1,504 (-59.7%), from €2,520 to €1,016
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 | €440,370 | €231,658 | -€208,712 | -47.4% |
| Fixed assets | 21/28 | €2,889 | €2,056 | -€833 | -28.8% |
| Tangible fixed assets | 22/27 | €2,889 | €2,056 | -€833 | -28.8% |
| Furniture and vehicles | 24 | €2,889 | €2,056 | -€833 | -28.8% |
| Current assets | 29/58 | €437,481 | €229,602 | -€207,879 | -47.5% |
| Amounts receivable within one year | 40/41 | - | €81,670 | +€81,670 | |
| Other amounts receivable | 41 | - | €81,670 | +€81,670 | |
| Current investments | 50/53 | €158,332 | €122,017 | -€36,315 | -22.9% |
| Cash at bank and in hand | 54/58 | €271,348 | €20,383 | -€250,965 | -92.5% |
| Deferred charges and accrued income | 490/1 | €7,801 | €5,533 | -€2,269 | -29.1% |
| Total equity and liabilities | 10/49 | €440,370 | €231,658 | -€208,712 | -47.4% |
| Equity | 10/15 | €422,934 | €221,272 | -€201,661 | -47.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €416,934 | €215,272 | -€201,661 | -48.4% |
| Distributable reserves | 133 | €416,934 | €215,272 | -€201,661 | -48.4% |
| Amounts payable | 17/49 | €17,436 | €10,386 | -€7,051 | -40.4% |
| Amounts payable within one year | 42/48 | €14,436 | €7,386 | -€7,051 | -48.8% |
| Trade debts | 44 | €845 | €123 | -€722 | -85.4% |
| Suppliers | 440/4 | €845 | €123 | -€722 | -85.4% |
| Taxes, remuneration and social security | 45 | €5,366 | €500 | -€4,866 | -90.7% |
| Taxes | 450/3 | €5,366 | €500 | -€4,866 | -90.7% |
| Other amounts payable | 47/48 | €8,226 | €6,763 | -€1,463 | -17.8% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €833 | €833 | = | 0.0% |
| Other operating charges | 640/8 | €1,076 | €1,119 | +€43 | +4.0% |
| Gross operating margin | 9900 | €78,044 | €9,662 | -€68,382 | -87.6% |
| Operating profit (loss) | 9901 | €76,135 | €7,711 | -€68,424 | -89.9% |
| Financial income | 75/76B | €3,134 | €14,550 | +€11,415 | +364% |
| Recurring financial income | 75 | €3,134 | €9,942 | +€6,808 | +217% |
| Non-recurring financial income | 76B | - | €4,607 | +€4,607 | |
| Financial charges | 65/66B | €2,520 | €1,016 | -€1,504 | -59.7% |
| Recurring financial charges | 65 | €2,520 | €1,016 | -€1,504 | -59.7% |
| Profit (loss) for the period before taxes | 9903 | €76,750 | €21,245 | -€55,505 | -72.3% |
| Income taxes | 67/77 | €25,354 | €6,415 | -€18,939 | -74.7% |
| Profit (loss) for the period | 9904 | €51,395 | €14,829 | -€36,566 | -71.1% |
| Profit (loss) for the period to be appropriated | 9905 | €51,395 | €14,829 | -€36,566 | -71.1% |
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 24 October 2026 via checked.be.