NEL Consulting: 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.
NEL Consulting
Largest movements
- Cash -€51,817
down €51,817 (-27.6%), from €188,041 to €136,224
mainly Other debts (-€31,653) and Contributions, distributions and other (-€26,066)
- Receivables within one year +€16,057
up €16,057 (+61.8%), from €25,993 to €42,050
of which Trade receivables: +€16,618
- Tangible fixed assets -€6,407
down €6,407 (-4.2%), from €153,937 to €147,530
of which Furniture and vehicles: -€4,576
- Other debts -€31,653
down €31,653 (-77.1%), from €41,059 to €9,406
- Profit (loss) carried forward -€20,034
no longer reported in 2025 (was €20,034)
- Provisions +€15,327
up €15,327 (+53.0%), from €28,914 to €44,242
- Debts after one year -€5,324
down €5,324 (-5.9%), from €89,633 to €84,309
- Gross operating margin -€50,270
down €50,270 (-45.3%), from €110,926 to €60,657
- Financial charges -€7,898
down €7,898 (-28.1%), from €28,104 to €20,206
- Taxes -€7,839
down €7,839 (-52.5%), from €14,930 to €7,091
- Financial income -€2,893
down €2,893 (-95.4%), from €3,034 to €141
- Provisions +€2,618
up €2,618 (+20.6%), from €12,710 to €15,327
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 | €368,565 | €326,670 | -€41,895 | -11.4% |
| Fixed assets | 21/28 | €153,937 | €147,530 | -€6,407 | -4.2% |
| Tangible fixed assets | 22/27 | €153,937 | €147,530 | -€6,407 | -4.2% |
| Land and buildings | 22 | €138,747 | €134,779 | -€3,968 | -2.9% |
| Furniture and vehicles | 24 | €15,190 | €10,614 | -€4,576 | -30.1% |
| Other tangible fixed assets | 26 | - | €2,137 | +€2,137 | |
| Current assets | 29/58 | €214,628 | €179,140 | -€35,488 | -16.5% |
| Amounts receivable within one year | 40/41 | €25,993 | €42,050 | +€16,057 | +61.8% |
| Trade receivables | 40 | €18,188 | €34,807 | +€16,618 | +91.4% |
| Other amounts receivable | 41 | €7,804 | €7,243 | -€561 | -7.2% |
| Cash at bank and in hand | 54/58 | €188,041 | €136,224 | -€51,817 | -27.6% |
| Deferred charges and accrued income | 490/1 | €594 | €866 | +€272 | +45.8% |
| Total equity and liabilities | 10/49 | €368,565 | €326,670 | -€41,895 | -11.4% |
| Equity | 10/15 | €198,218 | €178,183 | -€20,034 | -10.1% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €157,723 | €157,723 | = | 0.0% |
| Distributable reserves | 133 | €157,723 | €157,723 | = | 0.0% |
| Profit (loss) carried forward | 14 | €20,034 | - | -€20,034 | |
| Provisions and deferred taxes | 16 | €28,914 | €44,242 | +€15,327 | +53.0% |
| Provisions for liabilities and charges | 160/5 | €28,914 | €44,242 | +€15,327 | +53.0% |
| Other liabilities and charges | 164/5 | €28,914 | €44,242 | +€15,327 | +53.0% |
| Amounts payable | 17/49 | €141,433 | €104,245 | -€37,188 | -26.3% |
| Amounts payable after more than one year | 17 | €89,633 | €84,309 | -€5,324 | -5.9% |
| Financial debts | 170/4 | €89,633 | €84,309 | -€5,324 | -5.9% |
| Amounts payable within one year | 42/48 | €51,800 | €19,936 | -€31,864 | -61.5% |
| Current portion of amounts payable after more than one year | 42 | €5,671 | €5,324 | -€347 | -6.1% |
| Trade debts | 44 | €1,713 | €1,263 | -€450 | -26.3% |
| Suppliers | 440/4 | €1,713 | €1,263 | -€450 | -26.3% |
| Taxes, remuneration and social security | 45 | €3,356 | €3,943 | +€587 | +17.5% |
| Taxes | 450/3 | €3,356 | €3,943 | +€587 | +17.5% |
| Other amounts payable | 47/48 | €41,059 | €9,406 | -€31,653 | -77.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,749 | €9,989 | +€239 | +2.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €12,710 | €15,327 | +€2,618 | +20.6% |
| Other operating charges | 640/8 | €2,879 | €2,154 | -€726 | -25.2% |
| Gross operating margin | 9900 | €110,926 | €60,657 | -€50,270 | -45.3% |
| Operating profit (loss) | 9901 | €85,589 | €33,187 | -€52,401 | -61.2% |
| Financial income | 75/76B | €3,034 | €141 | -€2,893 | -95.4% |
| Recurring financial income | 75 | €3,034 | €141 | -€2,893 | -95.4% |
| Financial charges | 65/66B | €28,104 | €20,206 | -€7,898 | -28.1% |
| Recurring financial charges | 65 | €28,104 | €20,206 | -€7,898 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | €60,518 | €13,122 | -€47,396 | -78.3% |
| Income taxes | 67/77 | €14,930 | €7,091 | -€7,839 | -52.5% |
| Profit (loss) for the period | 9904 | €45,589 | €6,031 | -€39,557 | -86.8% |
| Profit (loss) for the period to be appropriated | 9905 | €45,589 | €6,031 | -€39,557 | -86.8% |
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 16 October 2026 via checked.be.