Nanel: 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.
Nanel
Largest movements
- Receivables within one year -€82,754
down €82,754 (-42.3%), from €195,801 to €113,047
of which Other amounts receivable: -€79,684
- Cash +€29,869
up €29,869 (+12.6%), from €236,717 to €266,586
mainly Net result for the year (+€127,472) and Receivables within one year (+€82,754)
- Deferred charges and accrued income -€23,157
down €23,157 (-61.7%), from €37,511 to €14,354
- Tangible fixed assets -€18,830
down €18,830 (-7.1%), from €266,909 to €248,078
of which Furniture and vehicles: -€15,052
- Trade debts -€56,378
down €56,378 (-77.7%), from €72,578 to €16,200
- Other debts -€26,493
down €26,493 (-91.4%), from €28,978 to €2,485
- Debts after one year -€16,540
down €16,540 (-18.3%), from €90,290 to €73,750
- Tax, wage and social debts +€14,074
up €14,074 (+13.4%), from €105,247 to €119,321
of which Remuneration and social security: +€24,190
- Other operating charges +€12,775
up €12,775 (+508.0%), from €2,515 to €15,290
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 | €872,974 | €784,418 | -€88,556 | -10.1% |
| Fixed assets | 21/28 | €267,359 | €248,258 | -€19,100 | -7.1% |
| Intangible fixed assets | 21 | €435 | €165 | -€270 | -62.1% |
| Tangible fixed assets | 22/27 | €266,909 | €248,078 | -€18,830 | -7.1% |
| Land and buildings | 22 | €217,412 | €211,345 | -€6,067 | -2.8% |
| Plant, machinery and equipment | 23 | €28,853 | €31,142 | +€2,288 | +7.9% |
| Furniture and vehicles | 24 | €20,644 | €5,592 | -€15,052 | -72.9% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €605,615 | €536,160 | -€69,455 | -11.5% |
| Amounts receivable after more than one year | 29 | €127,051 | €127,051 | = | 0.0% |
| Trade receivables | 290 | €127,051 | €127,051 | = | 0.0% |
| Stocks and contracts in progress | 3 | €8,535 | €15,123 | +€6,587 | +77.2% |
| Stocks | 30/36 | €8,535 | €15,123 | +€6,587 | +77.2% |
| Amounts receivable within one year | 40/41 | €195,801 | €113,047 | -€82,754 | -42.3% |
| Trade receivables | 40 | €47,930 | €44,860 | -€3,070 | -6.4% |
| Other amounts receivable | 41 | €147,871 | €68,187 | -€79,684 | -53.9% |
| Cash at bank and in hand | 54/58 | €236,717 | €266,586 | +€29,869 | +12.6% |
| Deferred charges and accrued income | 490/1 | €37,511 | €14,354 | -€23,157 | -61.7% |
| Total equity and liabilities | 10/49 | €872,974 | €784,418 | -€88,556 | -10.1% |
| Equity | 10/15 | €548,764 | €552,984 | +€4,220 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €525,114 | €529,334 | +€4,220 | +0.8% |
| Distributable reserves | 133 | €525,114 | €529,334 | +€4,220 | +0.8% |
| Profit (loss) carried forward | 14 | €17,450 | €17,450 | = | 0.0% |
| Amounts payable | 17/49 | €324,210 | €231,434 | -€92,775 | -28.6% |
| Amounts payable after more than one year | 17 | €90,290 | €73,750 | -€16,540 | -18.3% |
| Financial debts | 170/4 | €90,290 | €73,750 | -€16,540 | -18.3% |
| Amounts payable within one year | 42/48 | €232,247 | €156,439 | -€75,808 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €25,444 | €17,790 | -€7,654 | -30.1% |
| Trade debts | 44 | €72,578 | €16,200 | -€56,378 | -77.7% |
| Suppliers | 440/4 | €72,578 | €16,200 | -€56,378 | -77.7% |
| Advances received on contracts in progress | 46 | - | €643 | +€643 | |
| Taxes, remuneration and social security | 45 | €105,247 | €119,321 | +€14,074 | +13.4% |
| Taxes | 450/3 | €39,767 | €29,652 | -€10,115 | -25.4% |
| Remuneration and social security | 454/9 | €65,480 | €89,669 | +€24,190 | +36.9% |
| Other amounts payable | 47/48 | €28,978 | €2,485 | -€26,493 | -91.4% |
| Accrued charges and deferred income | 492/3 | €1,672 | €1,245 | -€427 | -25.6% |
| Remuneration, social security and pensions | 62 | €540,892 | €544,420 | +€3,528 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,783 | €35,950 | -€2,833 | -7.3% |
| Other operating charges | 640/8 | €2,515 | €15,290 | +€12,775 | +508.0% |
| Gross operating margin | 9900 | €785,910 | €779,383 | -€6,527 | -0.8% |
| Operating profit (loss) | 9901 | €203,721 | €183,724 | -€19,997 | -9.8% |
| Financial income | 75/76B | €4,686 | €3,596 | -€1,090 | -23.3% |
| Recurring financial income | 75 | €4,686 | €3,596 | -€1,090 | -23.3% |
| Financial charges | 65/66B | €3,635 | €3,042 | -€593 | -16.3% |
| Recurring financial charges | 65 | €3,635 | €3,042 | -€593 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €204,772 | €184,278 | -€20,494 | -10.0% |
| Income taxes | 67/77 | €63,597 | €56,805 | -€6,792 | -10.7% |
| Profit (loss) for the period | 9904 | €141,175 | €127,472 | -€13,702 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €141,175 | €127,472 | -€13,702 | -9.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.