NelCis: 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.
NelCis
Largest movements
- Cash -€8,514
down €8,514 (-2.6%), from €332,413 to €323,899
mainly Contributions, distributions and other (-€27,500) and Investment in fixed assets (net) (-€13,672)
- Tangible fixed assets +€5,092
up €5,092 (+21.4%), from €23,830 to €28,922
of which Land and buildings: +€3,423
- Current portion of long-term debt -€5,099
no longer reported in 2025 (was €5,099)
- Gross operating margin +€8,300
up €8,300 (+21.6%), from €38,373 to €46,673
- Depreciation +€2,344
up €2,344 (+37.6%), from €6,237 to €8,580
- Taxes +€2,095
up €2,095 (+23.1%), from €9,059 to €11,155
- Financial income +€1,232
up €1,232 (+89.4%), from €1,378 to €2,609
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 | €357,191 | €354,512 | -€2,679 | -0.7% |
| Fixed assets | 21/28 | €23,830 | €28,922 | +€5,092 | +21.4% |
| Tangible fixed assets | 22/27 | €23,830 | €28,922 | +€5,092 | +21.4% |
| Land and buildings | 22 | €19,946 | €23,370 | +€3,423 | +17.2% |
| Plant, machinery and equipment | 23 | €1,354 | €491 | -€863 | -63.7% |
| Furniture and vehicles | 24 | €2,529 | €5,061 | +€2,531 | +100% |
| Current assets | 29/58 | €333,361 | €325,590 | -€7,771 | -2.3% |
| Amounts receivable within one year | 40/41 | €948 | €1,691 | +€743 | +78.4% |
| Trade receivables | 40 | €948 | €1,691 | +€743 | +78.4% |
| Cash at bank and in hand | 54/58 | €332,413 | €323,899 | -€8,514 | -2.6% |
| Total equity and liabilities | 10/49 | €357,191 | €354,512 | -€2,679 | -0.7% |
| Equity | 10/15 | €293,705 | €290,154 | -€3,552 | -1.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €287,505 | €283,954 | -€3,552 | -1.2% |
| Distributable reserves | 133 | €287,505 | €283,954 | -€3,552 | -1.2% |
| Amounts payable | 17/49 | €63,485 | €64,358 | +€873 | +1.4% |
| Amounts payable within one year | 42/48 | €63,285 | €64,358 | +€1,073 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €5,099 | - | -€5,099 | |
| Trade debts | 44 | €359 | €858 | +€499 | +139% |
| Suppliers | 440/4 | €359 | €858 | +€499 | +139% |
| Taxes, remuneration and social security | 45 | €3,531 | €6,348 | +€2,817 | +79.8% |
| Taxes | 450/3 | €3,531 | €6,348 | +€2,817 | +79.8% |
| Other amounts payable | 47/48 | €54,296 | €57,151 | +€2,855 | +5.3% |
| Accrued charges and deferred income | 492/3 | €200 | - | -€200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,237 | €8,580 | +€2,344 | +37.6% |
| Other operating charges | 640/8 | €619 | €637 | +€18 | +2.9% |
| Gross operating margin | 9900 | €38,373 | €46,673 | +€8,300 | +21.6% |
| Operating profit (loss) | 9901 | €31,518 | €37,456 | +€5,938 | +18.8% |
| Financial income | 75/76B | €1,378 | €2,609 | +€1,232 | +89.4% |
| Recurring financial income | 75 | €1,378 | €2,609 | +€1,232 | +89.4% |
| Financial charges | 65/66B | €5,183 | €4,962 | -€220 | -4.3% |
| Recurring financial charges | 65 | €5,183 | €4,962 | -€220 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €27,713 | €35,103 | +€7,390 | +26.7% |
| Income taxes | 67/77 | €9,059 | €11,155 | +€2,095 | +23.1% |
| Profit (loss) for the period | 9904 | €18,653 | €23,948 | +€5,295 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €18,653 | €23,948 | +€5,295 | +28.4% |
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 17 October 2026 via checked.be.