NELL'ARTE: 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.
NELL'ARTE
Largest movements
- Current investments +€10,634
new in 2025: €10,634
- Cash -€9,643
no longer reported in 2025 (was €9,643)
mainly Current investments (-€10,634) and Advances received (-€4,143)
- Stocks and contracts -€5,073
down €5,073 (-44.1%), from €11,498 to €6,425
- Receivables within one year +€3,731
up €3,731 (+93.2%), from €4,005 to €7,735
of which Other amounts receivable: +€3,022
- Advances received -€4,143
no longer reported in 2025 (was €4,143)
- Profit (loss) carried forward +€3,646
up €3,646 (+47.2%), from €7,733 to €11,379
- Gross operating margin -€8,818
down €8,818 (-27.9%), from €31,628 to €22,810
- Taxes -€2,000
no longer reported in 2025 (was €2,000)
- Financial charges -€485
down €485 (-30.0%), from €1,618 to €1,133
- Depreciation -€443
down €443 (-67.9%), from €652 to €209
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 | €25,739 | €25,249 | -€491 | -1.9% |
| Fixed assets | 21/28 | €593 | €384 | -€209 | -35.3% |
| Tangible fixed assets | 22/27 | €418 | €209 | -€209 | -50.0% |
| Plant, machinery and equipment | 23 | €418 | €209 | -€209 | -50.0% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €25,146 | €24,865 | -€281 | -1.1% |
| Stocks and contracts in progress | 3 | €11,498 | €6,425 | -€5,073 | -44.1% |
| Stocks | 30/36 | €11,498 | €6,425 | -€5,073 | -44.1% |
| Amounts receivable within one year | 40/41 | €4,005 | €7,735 | +€3,731 | +93.2% |
| Trade receivables | 40 | - | €709 | +€709 | |
| Other amounts receivable | 41 | €4,005 | €7,027 | +€3,022 | +75.5% |
| Current investments | 50/53 | - | €10,634 | +€10,634 | |
| Cash at bank and in hand | 54/58 | €9,643 | - | -€9,643 | |
| Deferred charges and accrued income | 490/1 | - | €71 | +€71 | |
| Total equity and liabilities | 10/49 | €25,739 | €25,249 | -€491 | -1.9% |
| Equity | 10/15 | €10,233 | €13,879 | +€3,646 | +35.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,733 | €11,379 | +€3,646 | +47.2% |
| Amounts payable | 17/49 | €15,507 | €11,370 | -€4,137 | -26.7% |
| Amounts payable within one year | 42/48 | €15,507 | €11,370 | -€4,137 | -26.7% |
| Trade debts | 44 | €904 | €1,006 | +€103 | +11.4% |
| Suppliers | 440/4 | €904 | €1,006 | +€103 | +11.4% |
| Advances received on contracts in progress | 46 | €4,143 | - | -€4,143 | |
| Taxes, remuneration and social security | 45 | €10,460 | €10,364 | -€96 | -0.9% |
| Taxes | 450/3 | €7,348 | €6,218 | -€1,130 | -15.4% |
| Remuneration and social security | 454/9 | €3,112 | €4,146 | +€1,035 | +33.3% |
| Remuneration, social security and pensions | 62 | €17,827 | €17,560 | -€267 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €652 | €209 | -€443 | -67.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €31,628 | €22,810 | -€8,818 | -27.9% |
| Operating profit (loss) | 9901 | €12,761 | €4,641 | -€8,120 | -63.6% |
| Financial income | 75/76B | €0 | €138 | +€138 | +50,952% |
| Recurring financial income | 75 | €0 | €138 | +€138 | +50,952% |
| Non-recurring financial income | 76B | €0 | €138 | +€138 | +50,952% |
| Financial charges | 65/66B | €1,618 | €1,133 | -€485 | -30.0% |
| Recurring financial charges | 65 | €1,618 | €1,133 | -€485 | -30.0% |
| Profit (loss) for the period before taxes | 9903 | €11,143 | €3,646 | -€7,497 | -67.3% |
| Income taxes | 67/77 | €2,000 | - | -€2,000 | |
| Profit (loss) for the period | 9904 | €9,143 | €3,646 | -€5,497 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €9,143 | €3,646 | -€5,497 | -60.1% |
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 15 October 2026 via checked.be.