NELL & NOLA: 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 & NOLA
Largest movements
- Intangible fixed assets -€18,949
down €18,949 (-10.2%), from €186,279 to €167,330
- Cash -€9,927
down €9,927 (-90.7%), from €10,947 to €1,020
mainly Net result for the year (-€27,372) and Accrued charges and deferred income (-€7,694)
- Tangible fixed assets -€7,170
down €7,170 (-21.1%), from €33,985 to €26,815
of which Other tangible fixed assets: -€5,932
- Profit (loss) carried forward -€27,372
down €27,372, from €9,359 to -€18,013
- Accrued charges and deferred income -€7,694
no longer reported in 2025 (was €7,694)
- Depreciation +€15,300
up €15,300 (+141%), from €10,819 to €26,119
- Other operating charges -€1,257
down €1,257 (-75.9%), from €1,657 to €400
- Gross operating margin -€713
down €713, from €603 to -€110
- Staff costs -€250
no longer reported in 2025 (was €250)
- Financial charges -€68
down €68 (-8.4%), from €810 to €742
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 | €232,215 | €196,168 | -€36,046 | -15.5% |
| Fixed assets | 21/28 | €220,264 | €194,145 | -€26,119 | -11.9% |
| Intangible fixed assets | 21 | €186,279 | €167,330 | -€18,949 | -10.2% |
| Tangible fixed assets | 22/27 | €33,985 | €26,815 | -€7,170 | -21.1% |
| Plant, machinery and equipment | 23 | €1,567 | €392 | -€1,176 | -75.0% |
| Furniture and vehicles | 24 | €63 | €0 | -€63 | -100% |
| Other tangible fixed assets | 26 | €32,355 | €26,423 | -€5,932 | -18.3% |
| Current assets | 29/58 | €11,950 | €2,023 | -€9,927 | -83.1% |
| Amounts receivable within one year | 40/41 | €1,003 | €1,003 | = | 0.0% |
| Other amounts receivable | 41 | €1,003 | €1,003 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,947 | €1,020 | -€9,927 | -90.7% |
| Total equity and liabilities | 10/49 | €232,215 | €196,168 | -€36,046 | -15.5% |
| Equity | 10/15 | €16,731 | -€10,641 | -€27,372 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,172 | €1,172 | = | 0.0% |
| Distributable reserves | 133 | €1,172 | €1,172 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,359 | -€18,013 | -€27,372 | |
| Amounts payable | 17/49 | €215,484 | €206,809 | -€8,675 | -4.0% |
| Amounts payable within one year | 42/48 | €207,790 | €206,809 | -€981 | -0.5% |
| Trade debts | 44 | €190,690 | €189,709 | -€981 | -0.5% |
| Suppliers | 440/4 | €190,690 | €189,709 | -€981 | -0.5% |
| Other amounts payable | 47/48 | €17,100 | €17,100 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,694 | - | -€7,694 | |
| Remuneration, social security and pensions | 62 | €250 | - | -€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,819 | €26,119 | +€15,300 | +141% |
| Other operating charges | 640/8 | €1,657 | €400 | -€1,257 | -75.9% |
| Non-recurring operating charges | 66A | €374 | - | -€374 | |
| Gross operating margin | 9900 | €603 | -€110 | -€713 | |
| Operating profit (loss) | 9901 | -€12,497 | -€26,629 | -€14,132 | -113% |
| Financial charges | 65/66B | €810 | €742 | -€68 | -8.4% |
| Recurring financial charges | 65 | €810 | €742 | -€68 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,307 | -€27,372 | -€14,064 | -106% |
| Profit (loss) for the period | 9904 | -€13,307 | -€27,372 | -€14,064 | -106% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,307 | -€27,372 | -€14,064 | -106% |
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 24 October 2026 via checked.be.