NELIS MANAGEMENT: 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.
NELIS MANAGEMENT
Largest movements
- Tangible fixed assets -€54,873
down €54,873 (-5.6%), from €971,862 to €916,988
of which Land and buildings: -€37,880
- Cash +€22,225
up €22,225 (+21.8%), from €102,098 to €124,323
mainly Depreciation (+€52,945) and Tax, wage and social debts (+€6,550)
- Reserves -€22,453
down €22,453 (-2.2%), from €1.0m to €1.0m
of which Distributable reserves: -€21,925
- Debts after one year -€13,333
down €13,333 (-12.0%), from €110,749 to €97,416
of which Financial debts: -€13,333
- Gross operating margin -€57,998
down €57,998 (-62.1%), from €93,336 to €35,337
- Depreciation -€39,712
down €39,712 (-42.9%), from €92,657 to €52,945
- Financial income -€11,115
down €11,115 (-69.8%), from €15,929 to €4,814
- Taxes -€6,125
down €6,125 (-97.1%), from €6,309 to €184
- Other operating charges +€2,818
up €2,818 (+66.9%), from €4,215 to €7,034
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 | €1,183,413 | €1,149,203 | -€34,209 | -2.9% |
| Fixed assets | 21/28 | €977,885 | €923,012 | -€54,873 | -5.6% |
| Tangible fixed assets | 22/27 | €971,862 | €916,988 | -€54,873 | -5.6% |
| Land and buildings | 22 | €926,313 | €888,433 | -€37,880 | -4.1% |
| Plant, machinery and equipment | 23 | €10,652 | €7,329 | -€3,323 | -31.2% |
| Furniture and vehicles | 24 | €34,897 | €21,226 | -€13,671 | -39.2% |
| Financial fixed assets | 28 | €6,024 | €6,024 | = | 0.0% |
| Current assets | 29/58 | €205,527 | €226,191 | +€20,664 | +10.1% |
| Amounts receivable within one year | 40/41 | €4,303 | €1,511 | -€2,792 | -64.9% |
| Trade receivables | 40 | €542 | €1,000 | +€458 | +84.5% |
| Other amounts receivable | 41 | €3,761 | €511 | -€3,250 | -86.4% |
| Current investments | 50/53 | €98,522 | €99,702 | +€1,179 | +1.2% |
| Cash at bank and in hand | 54/58 | €102,098 | €124,323 | +€22,225 | +21.8% |
| Deferred charges and accrued income | 490/1 | €604 | €656 | +€52 | +8.5% |
| Total equity and liabilities | 10/49 | €1,183,413 | €1,149,203 | -€34,209 | -2.9% |
| Equity | 10/15 | €1,048,543 | €1,026,091 | -€22,453 | -2.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,029,951 | €1,007,499 | -€22,453 | -2.2% |
| Tax-exempt reserves | 132 | €16,811 | €16,284 | -€527 | -3.1% |
| Distributable reserves | 133 | €1,013,140 | €991,214 | -€21,925 | -2.2% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €5,604 | €5,428 | -€176 | -3.1% |
| Deferred taxes | 168 | €5,604 | €5,428 | -€176 | -3.1% |
| Amounts payable | 17/49 | €129,265 | €117,684 | -€11,581 | -9.0% |
| Amounts payable after more than one year | 17 | €110,749 | €97,416 | -€13,333 | -12.0% |
| Financial debts | 170/4 | €109,999 | €96,666 | -€13,333 | -12.1% |
| Other amounts payable | 178/9 | €750 | €750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,484 | €20,268 | +€1,784 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €13,333 | €13,333 | = | 0.0% |
| Trade debts | 44 | €5,113 | €347 | -€4,766 | -93.2% |
| Suppliers | 440/4 | €5,113 | €347 | -€4,766 | -93.2% |
| Taxes, remuneration and social security | 45 | €38 | €6,588 | +€6,550 | +17,306% |
| Taxes | 450/3 | €38 | €6,588 | +€6,550 | +17,306% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €32 | €0 | -€32 | -100% |
| Non-recurring operating income | 76A | €0 | €17,072 | +€17,072 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,657 | €52,945 | -€39,712 | -42.9% |
| Other operating charges | 640/8 | €4,215 | €7,034 | +€2,818 | +66.9% |
| Gross operating margin | 9900 | €93,336 | €35,337 | -€57,998 | -62.1% |
| Operating profit (loss) | 9901 | -€3,537 | -€24,641 | -€21,105 | -597% |
| Financial income | 75/76B | €15,929 | €4,814 | -€11,115 | -69.8% |
| Recurring financial income | 75 | €15,929 | €4,814 | -€11,115 | -69.8% |
| Financial charges | 65/66B | €4,489 | €2,617 | -€1,872 | -41.7% |
| Recurring financial charges | 65 | €4,489 | €2,617 | -€1,872 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €7,903 | -€22,445 | -€30,348 | |
| Transfer from deferred taxes | 780 | €174 | €176 | +€2 | +1.3% |
| Income taxes | 67/77 | €6,309 | €184 | -€6,125 | -97.1% |
| Profit (loss) for the period | 9904 | €1,768 | -€22,453 | -€24,220 | |
| Transfer from tax-exempt reserves | 789 | €521 | €527 | +€7 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,288 | -€21,925 | -€24,214 |
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 14 October 2026 via checked.be.