Nebula Holding: what changed
Nebula Holding
Largest movements
- Tangible fixed assets +€404,387
up €404,387 (+136%), from €297,037 to €701,425
of which Assets under construction and advance payments: +€289,883
- Receivables within one year +€75,917
up €75,917 (+1,237%), from €6,139 to €82,056
- Debts after one year +€360,117
up €360,117 (+143%), from €252,223 to €612,340
- Reserves +€160,068
up €160,068 (+476%), from €33,617 to €193,684
- Tax, wage and social debts -€22,954
down €22,954 (-92.0%), from €24,954 to €2,000
- Trade debts -€10,379
down €10,379 (-35.9%), from €28,937 to €18,558
- Gross operating margin +€146,581
up €146,581 (+161%), from €91,107 to €237,688
- Taxes +€39,521
up €39,521 (+444%), from €8,906 to €48,427
- Other operating charges -€38,353
down €38,353 (-95.4%), from €40,192 to €1,840
- Financial charges +€11,852
up €11,852 (+218%), from €5,429 to €17,281
- Depreciation +€7,960
up €7,960 (+269%), from €2,963 to €10,923
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €357,214 | €844,616 | +€487,402 | +136% |
| Fixed assets | 21/28 | €297,037 | €701,425 | +€404,387 | +136% |
| Tangible fixed assets | 22/27 | €297,037 | €701,425 | +€404,387 | +136% |
| Land and buildings | 22 | €297,037 | €411,542 | +€114,504 | +38.5% |
| Assets under construction and advance payments | 27 | - | €289,883 | +€289,883 | |
| Current assets | 29/58 | €60,176 | €143,191 | +€83,015 | +138% |
| Amounts receivable within one year | 40/41 | €6,139 | €82,056 | +€75,917 | +1,237% |
| Other amounts receivable | 41 | €6,139 | €82,056 | +€75,917 | +1,237% |
| Cash at bank and in hand | 54/58 | €52,966 | €60,281 | +€7,315 | +13.8% |
| Deferred charges and accrued income | 490/1 | €1,071 | €853 | -€217 | -20.3% |
| Total equity and liabilities | 10/49 | €357,214 | €844,616 | +€487,402 | +136% |
| Equity | 10/15 | €37,617 | €197,684 | +€160,068 | +426% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €33,617 | €193,684 | +€160,068 | +476% |
| Distributable reserves | 133 | €33,617 | €193,684 | +€160,068 | +476% |
| Amounts payable | 17/49 | €319,597 | €646,931 | +€327,334 | +102% |
| Amounts payable after more than one year | 17 | €252,223 | €612,340 | +€360,117 | +143% |
| Financial debts | 170/4 | €252,223 | €612,340 | +€360,117 | +143% |
| Amounts payable within one year | 42/48 | €67,374 | €34,591 | -€32,782 | -48.7% |
| Current portion of amounts payable after more than one year | 42 | €13,482 | €14,034 | +€551 | +4.1% |
| Trade debts | 44 | €28,937 | €18,558 | -€10,379 | -35.9% |
| Suppliers | 440/4 | €28,937 | €18,558 | -€10,379 | -35.9% |
| Taxes, remuneration and social security | 45 | €24,954 | €2,000 | -€22,954 | -92.0% |
| Taxes | 450/3 | €24,954 | €2,000 | -€22,954 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,963 | €10,923 | +€7,960 | +269% |
| Other operating charges | 640/8 | €40,192 | €1,840 | -€38,353 | -95.4% |
| Gross operating margin | 9900 | €91,107 | €237,688 | +€146,581 | +161% |
| Operating profit (loss) | 9901 | €47,952 | €224,925 | +€176,974 | +369% |
| Financial income | 75/76B | - | €851 | +€851 | |
| Recurring financial income | 75 | - | €851 | +€851 | |
| Financial charges | 65/66B | €5,429 | €17,281 | +€11,852 | +218% |
| Recurring financial charges | 65 | €5,429 | €17,281 | +€11,852 | +218% |
| Profit (loss) for the period before taxes | 9903 | €42,523 | €208,495 | +€165,972 | +390% |
| Income taxes | 67/77 | €8,906 | €48,427 | +€39,521 | +444% |
| Profit (loss) for the period | 9904 | €33,617 | €160,068 | +€126,451 | +376% |
| Profit (loss) for the period to be appropriated | 9905 | €33,617 | €160,068 | +€126,451 | +376% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.