NELLES TRANSPORTS: 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.
NELLES TRANSPORTS
Largest movements
- Financial fixed assets +€1.5m
up €1.5m (+245%), from €613,217 to €2.1m
- Tangible fixed assets +€310,884
up €310,884 (+154%), from €201,570 to €512,455
- Receivables within one year +€166,165
up €166,165 (+95.9%), from €173,191 to €339,357
of which Trade receivables: +€166,287
- Cash -€99,721
down €99,721 (-54.3%), from €183,616 to €83,895
mainly Investment in fixed assets (net) (-€1.9m) and Receivables within one year (-€166,165)
- Contributions +€1.5m
up €1.5m (+750%), from €200,000 to €1.7m
- Debts after one year +€271,278
up €271,278 (+37.3%), from €727,945 to €999,223
- Current portion of long-term debt +€40,217
up €40,217 (+60.4%), from €66,587 to €106,804
- Financial income -€250,010
no longer reported in 2025 (was €250,010)
of which Non-recurring financial income: -€250,000
- Gross operating margin +€65,601
up €65,601 (+12.2%), from €537,298 to €602,899
- Staff costs +€39,703
up €39,703 (+11.4%), from €347,021 to €386,723
- Depreciation +€26,267
up €26,267 (+39.3%), from €66,849 to €93,116
- Financial charges +€23,657
up €23,657 (+309%), from €7,657 to €31,313
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 | €1,176,851 | €3,054,891 | +€1.9m | +160% |
| Fixed assets | 21/28 | €814,787 | €2,625,806 | +€1.8m | +222% |
| Tangible fixed assets | 22/27 | €201,570 | €512,455 | +€310,884 | +154% |
| Leasing and similar rights | 25 | €201,570 | €512,455 | +€310,884 | +154% |
| Financial fixed assets | 28 | €613,217 | €2,113,352 | +€1.5m | +245% |
| Current assets | 29/58 | €362,064 | €429,084 | +€67,020 | +18.5% |
| Amounts receivable within one year | 40/41 | €173,191 | €339,357 | +€166,165 | +95.9% |
| Trade receivables | 40 | €173,070 | €339,357 | +€166,287 | +96.1% |
| Other amounts receivable | 41 | €122 | - | -€122 | |
| Cash at bank and in hand | 54/58 | €183,616 | €83,895 | -€99,721 | -54.3% |
| Deferred charges and accrued income | 490/1 | €5,257 | €5,833 | +€576 | +11.0% |
| Total equity and liabilities | 10/49 | €1,176,851 | €3,054,891 | +€1.9m | +160% |
| Equity | 10/15 | €287,179 | €1,811,448 | +€1.5m | +531% |
| Contributions | 10/11 | €200,000 | €1,700,000 | +€1.5m | +750% |
| Capital | 10 | €200,000 | €1,700,000 | +€1.5m | +750% |
| Issued capital | 100 | €200,000 | €2,200,000 | +€2.0m | +1,000% |
| Uncalled capital | 101 | - | €500,000 | +€500,000 | |
| Reserves | 13 | €33,409 | €33,409 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,409 | €13,409 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,769 | €78,039 | +€24,269 | +45.1% |
| Amounts payable | 17/49 | €889,672 | €1,243,442 | +€353,770 | +39.8% |
| Amounts payable after more than one year | 17 | €727,945 | €999,223 | +€271,278 | +37.3% |
| Financial debts | 170/4 | €727,945 | €999,223 | +€271,278 | +37.3% |
| Amounts payable within one year | 42/48 | €161,727 | €226,539 | +€64,812 | +40.1% |
| Current portion of amounts payable after more than one year | 42 | €66,587 | €106,804 | +€40,217 | +60.4% |
| Trade debts | 44 | €54,926 | €52,425 | -€2,501 | -4.6% |
| Suppliers | 440/4 | €54,926 | €52,425 | -€2,501 | -4.6% |
| Taxes, remuneration and social security | 45 | €40,215 | €67,311 | +€27,096 | +67.4% |
| Taxes | 450/3 | €1,975 | €35,464 | +€33,489 | +1,696% |
| Remuneration and social security | 454/9 | €38,240 | €31,847 | -€6,393 | -16.7% |
| Accrued charges and deferred income | 492/3 | - | €17,680 | +€17,680 | |
| Remuneration, social security and pensions | 62 | €347,021 | €386,723 | +€39,703 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,849 | €93,116 | +€26,267 | +39.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€579 | - | +€579 | |
| Other operating charges | 640/8 | €58,522 | €60,207 | +€1,686 | +2.9% |
| Non-recurring operating charges | 66A | €379 | €7,270 | +€6,891 | +1,821% |
| Gross operating margin | 9900 | €537,298 | €602,899 | +€65,601 | +12.2% |
| Operating profit (loss) | 9901 | €65,107 | €55,583 | -€9,525 | -14.6% |
| Financial income | 75/76B | €250,010 | - | -€250,010 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Non-recurring financial income | 76B | €250,000 | - | -€250,000 | |
| Financial charges | 65/66B | €7,657 | €31,313 | +€23,657 | +309% |
| Recurring financial charges | 65 | €7,657 | €31,313 | +€23,657 | +309% |
| Profit (loss) for the period before taxes | 9903 | €307,461 | €24,269 | -€283,191 | -92.1% |
| Profit (loss) for the period | 9904 | €307,461 | €24,269 | -€283,191 | -92.1% |
| Profit (loss) for the period to be appropriated | 9905 | €307,461 | €24,269 | -€283,191 | -92.1% |
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 25 October 2026 via checked.be.