NEBULA: 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.
NEBULA
Largest movements
- Tangible fixed assets -€476,382
down €476,382 (-90.3%), from €527,718 to €51,336
of which Land and buildings: -€485,247
- Cash +€90,847
up €90,847 (+681.8%), from €13,325 to €104,172
mainly Investment in fixed assets (net) (+€470,152) and Net result for the year (+€20,291)
- Receivables within one year +€10,018
up €10,018 (+38.4%), from €26,105 to €36,123
of which Other amounts receivable: +€12,525
- Debts after one year -€314,960
no longer reported in 2025 (was €314,960)
- Current portion of long-term debt -€26,281
no longer reported in 2025 (was €26,281)
- Reserves -€24,726
down €24,726 (-12.5%), from €197,630 to €172,903
of which Tax-exempt reserves: -€14,632
- Other operating charges +€22,592
up €22,592 (+1944.1%), from €1,162 to €23,754
- Gross operating margin +€20,100
up €20,100 (+49.6%), from €40,509 to €60,609
- Depreciation -€13,480
down €13,480 (-68.4%), from €19,710 to €6,230
- Taxes +€9,621
up €9,621 (+244.9%), from €3,929 to €13,550
- Financial charges -€5,876
down €5,876 (-91.4%), from €6,431 to €555
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 | €567,808 | €192,786 | -€375,023 | -66.0% |
| Fixed assets | 21/28 | €527,718 | €51,336 | -€476,382 | -90.3% |
| Tangible fixed assets | 22/27 | €527,718 | €51,336 | -€476,382 | -90.3% |
| Land and buildings | 22 | €485,247 | - | -€485,247 | |
| Plant, machinery and equipment | 23 | €2,810 | €6,108 | +€3,298 | +117.3% |
| Furniture and vehicles | 24 | €39,661 | €45,228 | +€5,567 | +14.0% |
| Current assets | 29/58 | €40,090 | €141,449 | +€101,359 | +252.8% |
| Amounts receivable within one year | 40/41 | €26,105 | €36,123 | +€10,018 | +38.4% |
| Trade receivables | 40 | €26,034 | €23,527 | -€2,507 | -9.6% |
| Other amounts receivable | 41 | €71 | €12,597 | +€12,525 | +17599.2% |
| Cash at bank and in hand | 54/58 | €13,325 | €104,172 | +€90,847 | +681.8% |
| Deferred charges and accrued income | 490/1 | €660 | €1,154 | +€494 | +74.8% |
| Total equity and liabilities | 10/49 | €567,808 | €192,786 | -€375,023 | -66.0% |
| Equity | 10/15 | €208,330 | €183,603 | -€24,726 | -11.9% |
| Contributions | 10/11 | €10,700 | €10,700 | = | 0.0% |
| Reserves | 13 | €197,630 | €172,903 | -€24,726 | -12.5% |
| Tax-exempt reserves | 132 | €14,632 | - | -€14,632 | |
| Distributable reserves | 133 | €182,998 | €172,903 | -€10,094 | -5.5% |
| Provisions and deferred taxes | 16 | €3,658 | - | -€3,658 | |
| Deferred taxes | 168 | €3,658 | - | -€3,658 | |
| Amounts payable | 17/49 | €355,820 | €9,182 | -€346,638 | -97.4% |
| Amounts payable after more than one year | 17 | €314,960 | - | -€314,960 | |
| Financial debts | 170/4 | €314,960 | - | -€314,960 | |
| Amounts payable within one year | 42/48 | €40,861 | €9,182 | -€31,678 | -77.5% |
| Current portion of amounts payable after more than one year | 42 | €26,281 | - | -€26,281 | |
| Trade debts | 44 | €4,299 | €863 | -€3,437 | -79.9% |
| Suppliers | 440/4 | €4,299 | €863 | -€3,437 | -79.9% |
| Taxes, remuneration and social security | 45 | €7,952 | €8,320 | +€368 | +4.6% |
| Taxes | 450/3 | €7,952 | €8,320 | +€368 | +4.6% |
| Other amounts payable | 47/48 | €2,329 | - | -€2,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,710 | €6,230 | -€13,480 | -68.4% |
| Other operating charges | 640/8 | €1,162 | €23,754 | +€22,592 | +1944.1% |
| Gross operating margin | 9900 | €40,509 | €60,609 | +€20,100 | +49.6% |
| Operating profit (loss) | 9901 | €19,636 | €30,625 | +€10,989 | +56.0% |
| Financial income | 75/76B | - | €112 | +€112 | |
| Recurring financial income | 75 | - | €112 | +€112 | |
| Financial charges | 65/66B | €6,431 | €555 | -€5,876 | -91.4% |
| Recurring financial charges | 65 | €6,431 | €555 | -€5,876 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | €13,206 | €30,183 | +€16,977 | +128.6% |
| Transfer from deferred taxes | 780 | €252 | €3,658 | +€3,406 | +1350.0% |
| Income taxes | 67/77 | €3,929 | €13,550 | +€9,621 | +244.9% |
| Profit (loss) for the period | 9904 | €9,529 | €20,291 | +€10,762 | +112.9% |
| Transfer from tax-exempt reserves | 789 | €1,009 | €14,632 | +€13,623 | +1350.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,538 | €34,923 | +€24,385 | +231.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.