NELL: 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.
NELL
Largest movements
- Receivables within one year -€67,986
down €67,986 (-73.0%), from €93,121 to €25,135
of which Other amounts receivable: -€70,604
- Cash +€13,360
up €13,360 (+24.2%), from €55,278 to €68,638
mainly Receivables within one year (+€67,986) and Net result for the year (+€17,530)
- Other debts -€74,229
down €74,229 (-100.0%), from €74,229 to €0
- Profit (loss) carried forward +€17,530
up €17,530 (+33.5%), from €52,308 to €69,838
- Trade debts +€2,005
up €2,005 (+505.9%), from €396 to €2,401
- Financial income +€2,332
up €2,332 (+322.0%), from €724 to €3,056
- Gross operating margin +€1,878
up €1,878 (+8.7%), from €21,600 to €23,478
- Taxes +€729
up €729 (+13.3%), from €5,482 to €6,212
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 | €153,335 | €97,350 | -€55,985 | -36.5% |
| Fixed assets | 21/28 | €4,935 | €3,577 | -€1,359 | -27.5% |
| Tangible fixed assets | 22/27 | €4,935 | €3,577 | -€1,359 | -27.5% |
| Furniture and vehicles | 24 | €4,935 | €3,577 | -€1,359 | -27.5% |
| Current assets | 29/58 | €148,399 | €93,773 | -€54,627 | -36.8% |
| Amounts receivable within one year | 40/41 | €93,121 | €25,135 | -€67,986 | -73.0% |
| Trade receivables | 40 | €1,428 | €4,046 | +€2,618 | +183.3% |
| Other amounts receivable | 41 | €91,693 | €21,089 | -€70,604 | -77.0% |
| Cash at bank and in hand | 54/58 | €55,278 | €68,638 | +€13,360 | +24.2% |
| Total equity and liabilities | 10/49 | €153,335 | €97,350 | -€55,985 | -36.5% |
| Equity | 10/15 | €64,808 | €82,338 | +€17,530 | +27.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,308 | €69,838 | +€17,530 | +33.5% |
| Amounts payable | 17/49 | €88,527 | €15,012 | -€73,515 | -83.0% |
| Amounts payable within one year | 42/48 | €88,527 | €15,012 | -€73,515 | -83.0% |
| Trade debts | 44 | €396 | €2,401 | +€2,005 | +505.9% |
| Suppliers | 440/4 | €396 | €2,401 | +€2,005 | +505.9% |
| Taxes, remuneration and social security | 45 | €13,901 | €12,611 | -€1,291 | -9.3% |
| Taxes | 450/3 | €13,901 | €12,611 | -€1,291 | -9.3% |
| Other amounts payable | 47/48 | €74,229 | €0 | -€74,229 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,359 | €1,359 | = | 0.0% |
| Other operating charges | 640/8 | €855 | €916 | +€61 | +7.2% |
| Gross operating margin | 9900 | €21,600 | €23,478 | +€1,878 | +8.7% |
| Operating profit (loss) | 9901 | €19,387 | €21,204 | +€1,817 | +9.4% |
| Financial income | 75/76B | €724 | €3,056 | +€2,332 | +322.0% |
| Recurring financial income | 75 | €724 | €3,056 | +€2,332 | +322.0% |
| Financial charges | 65/66B | €486 | €518 | +€32 | +6.5% |
| Recurring financial charges | 65 | €486 | €518 | +€32 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €19,625 | €23,742 | +€4,117 | +21.0% |
| Income taxes | 67/77 | €5,482 | €6,212 | +€729 | +13.3% |
| Profit (loss) for the period | 9904 | €14,142 | €17,530 | +€3,388 | +24.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,142 | €17,530 | +€3,388 | +24.0% |
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 4 October 2026 via checked.be.