NELNO: 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.
NELNO
Largest movements
- Cash -€40,711
down €40,711 (-38.7%), from €105,149 to €64,438
mainly Contributions, distributions and other (-€133,484) and Tax, wage and social debts (-€13,472)
- Tangible fixed assets -€12,558
down €12,558 (-24.1%), from €52,199 to €39,641
of which Furniture and vehicles: -€12,358
- Receivables within one year +€3,884
up €3,884 (+4.2%), from €91,504 to €95,387
of which Other amounts receivable: +€2,674
- Reserves -€49,592
down €49,592 (-100.0%), from €49,592 to €0
- Other debts +€29,528
up €29,528 (+59.1%), from €50,000 to €79,528
- Tax, wage and social debts -€13,472
down €13,472 (-26.8%), from €50,195 to €36,723
- Debts after one year -€12,478
down €12,478 (-15.0%), from €82,963 to €70,485
- Trade debts -€2,844
down €2,844 (-53.5%), from €5,314 to €2,469
- Other operating charges +€5,543
up €5,543 (+713.8%), from €777 to €6,319
- Gross operating margin -€4,748
down €4,748 (-3.6%), from €132,909 to €128,161
- Financial income +€2,411
up €2,411 (+1347.5%), from €179 to €2,590
- Taxes -€2,172
down €2,172 (-8.6%), from €25,306 to €23,134
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 | €250,512 | €202,313 | -€48,200 | -19.2% |
| Fixed assets | 21/28 | €52,199 | €39,641 | -€12,558 | -24.1% |
| Tangible fixed assets | 22/27 | €52,199 | €39,641 | -€12,558 | -24.1% |
| Land and buildings | 22 | €1,416 | €1,216 | -€200 | -14.1% |
| Furniture and vehicles | 24 | €50,783 | €38,425 | -€12,358 | -24.3% |
| Current assets | 29/58 | €198,313 | €162,671 | -€35,642 | -18.0% |
| Amounts receivable within one year | 40/41 | €91,504 | €95,387 | +€3,884 | +4.2% |
| Trade receivables | 40 | - | €1,210 | +€1,210 | |
| Other amounts receivable | 41 | €91,504 | €94,177 | +€2,674 | +2.9% |
| Cash at bank and in hand | 54/58 | €105,149 | €64,438 | -€40,711 | -38.7% |
| Deferred charges and accrued income | 490/1 | €1,661 | €2,846 | +€1,185 | +71.3% |
| Total equity and liabilities | 10/49 | €250,512 | €202,313 | -€48,200 | -19.2% |
| Equity | 10/15 | €50,092 | €500 | -€49,592 | -99.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €49,592 | €0 | -€49,592 | -100.0% |
| Distributable reserves | 133 | €49,592 | €0 | -€49,592 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €200,420 | €201,813 | +€1,393 | +0.7% |
| Amounts payable after more than one year | 17 | €82,963 | €70,485 | -€12,478 | -15.0% |
| Financial debts | 170/4 | €82,963 | €70,485 | -€12,478 | -15.0% |
| Amounts payable within one year | 42/48 | €117,456 | €131,198 | +€13,742 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €11,948 | €12,478 | +€530 | +4.4% |
| Trade debts | 44 | €5,314 | €2,469 | -€2,844 | -53.5% |
| Suppliers | 440/4 | €5,314 | €2,469 | -€2,844 | -53.5% |
| Taxes, remuneration and social security | 45 | €50,195 | €36,723 | -€13,472 | -26.8% |
| Taxes | 450/3 | €50,195 | €36,723 | -€13,472 | -26.8% |
| Other amounts payable | 47/48 | €50,000 | €79,528 | +€29,528 | +59.1% |
| Accrued charges and deferred income | 492/3 | - | €129 | +€129 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,835 | €13,905 | +€70 | +0.5% |
| Other operating charges | 640/8 | €777 | €6,319 | +€5,543 | +713.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €132,909 | €128,161 | -€4,748 | -3.6% |
| Operating profit (loss) | 9901 | €118,297 | €107,937 | -€10,360 | -8.8% |
| Financial income | 75/76B | €179 | €2,590 | +€2,411 | +1347.5% |
| Recurring financial income | 75 | €179 | €2,590 | +€2,411 | +1347.5% |
| Financial charges | 65/66B | €2,670 | €3,502 | +€831 | +31.1% |
| Recurring financial charges | 65 | €2,670 | €3,502 | +€831 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | €115,806 | €107,025 | -€8,780 | -7.6% |
| Income taxes | 67/77 | €25,306 | €23,134 | -€2,172 | -8.6% |
| Profit (loss) for the period | 9904 | €90,500 | €83,892 | -€6,608 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €90,500 | €83,892 | -€6,608 | -7.3% |
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 3 October 2026 via checked.be.