NABULSI: what changed
Two fiscal 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.
NABULSI
Largest movements
- Cash +€15,950
up €15,950 (+195.9%), from €8,141 to €24,091
mainly Net result for the year (+€29,066) and Stocks and contracts (+€15,701)
- Stocks and contracts -€15,701
down €15,701 (-93.3%), from €16,825 to €1,124
- Receivables within one year +€10,021
up €10,021 (+663.4%), from €1,511 to €11,532
of which Other amounts receivable: +€5,541
- Tangible fixed assets -€1,718
down €1,718 (-44.1%), from €3,898 to €2,180
of which Plant, machinery and equipment: -€915
- Profit (loss) carried forward +€29,066
up €29,066, from -€33 to €29,033
- Other debts -€13,235
no longer reported in 2025 (was €13,235)
- Trade debts -€7,219
down €7,219 (-96.1%), from €7,513 to €295
- Gross operating margin +€43,901
up €43,901 (+22003.3%), from €200 to €44,100
- Staff costs +€12,615
new in 2025: €12,615
- Depreciation +€2,269
up €2,269 (+1503.4%), from €151 to €2,420
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 | €33,775 | €42,328 | +€8,553 | +25.3% |
| Fixed assets | 21/28 | €7,298 | €5,580 | -€1,718 | -23.5% |
| Tangible fixed assets | 22/27 | €3,898 | €2,180 | -€1,718 | -44.1% |
| Plant, machinery and equipment | 23 | €1,307 | €392 | -€915 | -70.0% |
| Furniture and vehicles | 24 | €2,591 | €1,788 | -€803 | -31.0% |
| Financial fixed assets | 28 | €3,400 | €3,400 | = | 0.0% |
| Current assets | 29/58 | €26,477 | €36,747 | +€10,271 | +38.8% |
| Stocks and contracts in progress | 3 | €16,825 | €1,124 | -€15,701 | -93.3% |
| Stocks | 30/36 | €16,825 | €1,124 | -€15,701 | -93.3% |
| Amounts receivable within one year | 40/41 | €1,511 | €11,532 | +€10,021 | +663.4% |
| Trade receivables | 40 | - | €4,480 | +€4,480 | |
| Other amounts receivable | 41 | €1,511 | €7,052 | +€5,541 | +366.8% |
| Cash at bank and in hand | 54/58 | €8,141 | €24,091 | +€15,950 | +195.9% |
| Total equity and liabilities | 10/49 | €33,775 | €42,328 | +€8,553 | +25.3% |
| Equity | 10/15 | €12,967 | €42,033 | +€29,066 | +224.2% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33 | €29,033 | +€29,066 | |
| Amounts payable | 17/49 | €20,808 | €295 | -€20,513 | -98.6% |
| Amounts payable within one year | 42/48 | €20,808 | €295 | -€20,513 | -98.6% |
| Trade debts | 44 | €7,513 | €295 | -€7,219 | -96.1% |
| Suppliers | 440/4 | €7,513 | €295 | -€7,219 | -96.1% |
| Taxes, remuneration and social security | 45 | €59 | - | -€59 | |
| Taxes | 450/3 | €59 | - | -€59 | |
| Other amounts payable | 47/48 | €13,235 | - | -€13,235 | |
| Remuneration, social security and pensions | 62 | - | €12,615 | +€12,615 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151 | €2,420 | +€2,269 | +1503.4% |
| Gross operating margin | 9900 | €200 | €44,100 | +€43,901 | +22003.3% |
| Operating profit (loss) | 9901 | €49 | €29,066 | +€29,017 | +59694.2% |
| Financial charges | 65/66B | €82 | - | -€82 | |
| Recurring financial charges | 65 | €82 | - | -€82 | |
| Profit (loss) for the period before taxes | 9903 | -€33 | €29,066 | +€29,099 | |
| Profit (loss) for the period | 9904 | -€33 | €29,066 | +€29,099 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33 | €29,066 | +€29,099 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.