NELE: 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.
NELE
Largest movements
- Cash +€65,100
up €65,100 (+27.9%), from €233,438 to €298,538
mainly Depreciation (+€48,885) and Net result for the year (+€42,653)
- Tangible fixed assets -€45,581
down €45,581 (-15.7%), from €290,974 to €245,393
of which Land and buildings: -€46,659
- Receivables within one year -€7,591
down €7,591 (-55.6%), from €13,660 to €6,069
of which Other amounts receivable: -€8,854
- Reserves +€42,653
up €42,653 (+9.1%), from €466,539 to €509,191
of which Distributable reserves: +€42,653
- Tax, wage and social debts -€13,555
down €13,555 (-61.2%), from €22,157 to €8,602
of which Taxes: -€11,177
- Current portion of long-term debt -€11,111
down €11,111 (-83.2%), from €13,353 to €2,241
- Trade debts -€8,382
down €8,382 (-64.3%), from €13,038 to €4,656
- Gross operating margin -€8,575
down €8,575 (-6.0%), from €143,513 to €134,938
- Depreciation -€7,457
down €7,457 (-13.2%), from €56,341 to €48,885
- Staff costs -€2,639
down €2,639 (-15.4%), from €17,085 to €14,446
- Financial charges -€1,804
down €1,804 (-11.2%), from €16,101 to €14,297
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 | €739,764 | €746,045 | +€6,281 | +0.8% |
| Fixed assets | 21/28 | €294,100 | €247,507 | -€46,593 | -15.8% |
| Intangible fixed assets | 21 | €2,630 | €1,619 | -€1,011 | -38.5% |
| Tangible fixed assets | 22/27 | €290,974 | €245,393 | -€45,581 | -15.7% |
| Land and buildings | 22 | €269,860 | €223,201 | -€46,659 | -17.3% |
| Plant, machinery and equipment | 23 | €5,451 | €4,493 | -€958 | -17.6% |
| Furniture and vehicles | 24 | €15,663 | €17,699 | +€2,036 | +13.0% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €445,665 | €498,538 | +€52,873 | +11.9% |
| Stocks and contracts in progress | 3 | €195,352 | €193,133 | -€2,220 | -1.1% |
| Stocks | 30/36 | €195,352 | €193,133 | -€2,220 | -1.1% |
| Amounts receivable within one year | 40/41 | €13,660 | €6,069 | -€7,591 | -55.6% |
| Trade receivables | 40 | €0 | €1,262 | +€1,262 | |
| Other amounts receivable | 41 | €13,660 | €4,806 | -€8,854 | -64.8% |
| Cash at bank and in hand | 54/58 | €233,438 | €298,538 | +€65,100 | +27.9% |
| Deferred charges and accrued income | 490/1 | €3,214 | €798 | -€2,416 | -75.2% |
| Total equity and liabilities | 10/49 | €739,764 | €746,045 | +€6,281 | +0.8% |
| Equity | 10/15 | €491,328 | €533,981 | +€42,653 | +8.7% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €466,539 | €509,191 | +€42,653 | +9.1% |
| Tax-exempt reserves | 132 | €11,000 | €11,000 | = | 0.0% |
| Distributable reserves | 133 | €455,539 | €498,191 | +€42,653 | +9.4% |
| Amounts payable | 17/49 | €248,436 | €212,064 | -€36,372 | -14.6% |
| Amounts payable after more than one year | 17 | €2,241 | €0 | -€2,241 | -100.0% |
| Financial debts | 170/4 | €2,241 | €0 | -€2,241 | -100.0% |
| Amounts payable within one year | 42/48 | €246,195 | €212,064 | -€34,131 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €13,353 | €2,241 | -€11,111 | -83.2% |
| Financial debts | 43 | €12 | €13 | +€1 | +8.3% |
| Credit institutions | 430/8 | €12 | €13 | +€1 | +8.3% |
| Trade debts | 44 | €13,038 | €4,656 | -€8,382 | -64.3% |
| Suppliers | 440/4 | €13,038 | €4,656 | -€8,382 | -64.3% |
| Taxes, remuneration and social security | 45 | €22,157 | €8,602 | -€13,555 | -61.2% |
| Taxes | 450/3 | €19,779 | €8,602 | -€11,177 | -56.5% |
| Remuneration and social security | 454/9 | €2,378 | €0 | -€2,378 | -100.0% |
| Other amounts payable | 47/48 | €197,635 | €196,551 | -€1,084 | -0.5% |
| Remuneration, social security and pensions | 62 | €17,085 | €14,446 | -€2,639 | -15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,341 | €48,885 | -€7,457 | -13.2% |
| Other operating charges | 640/8 | €4,601 | €5,072 | +€471 | +10.2% |
| Gross operating margin | 9900 | €143,513 | €134,938 | -€8,575 | -6.0% |
| Operating profit (loss) | 9901 | €65,486 | €66,535 | +€1,049 | +1.6% |
| Financial income | 75/76B | €10,338 | €9,608 | -€730 | -7.1% |
| Recurring financial income | 75 | €10,338 | €9,608 | -€730 | -7.1% |
| Financial charges | 65/66B | €16,101 | €14,297 | -€1,804 | -11.2% |
| Recurring financial charges | 65 | €16,101 | €14,297 | -€1,804 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €59,723 | €61,846 | +€2,124 | +3.6% |
| Income taxes | 67/77 | €19,652 | €19,194 | -€458 | -2.3% |
| Profit (loss) for the period | 9904 | €40,071 | €42,653 | +€2,582 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,071 | €42,653 | +€2,582 | +6.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.