NELPOL: 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.
NELPOL
Largest movements
- Tangible fixed assets -€14,844
down €14,844 (-30.7%), from €48,349 to €33,504
of which Furniture and vehicles: -€12,427
- Deferred charges and accrued income +€8,781
new in 2025: €8,781
- Stocks and contracts -€4,417
down €4,417 (-10.3%), from €42,706 to €38,289
- Cash -€2,188
down €2,188 (-6.1%), from €36,002 to €33,815
mainly Accrued charges and deferred income (-€11,059) and Net result for the year (-€10,527)
- Accrued charges and deferred income -€11,059
no longer reported in 2025 (was €11,059)
- Trade debts +€11,027
up €11,027 (+35.0%), from €31,475 to €42,501
- Profit (loss) carried forward -€10,527
down €10,527 (-98.8%), from €10,653 to €126
- Tax, wage and social debts +€5,644
up €5,644 (+11.9%), from €47,517 to €53,161
of which Remuneration and social security: +€12,980
- Other debts -€4,476
down €4,476 (-55.2%), from €8,106 to €3,631
- Financial charges +€32,126
up €32,126 (+1984.5%), from €1,619 to €33,745
- Gross operating margin +€26,405
up €26,405 (+10.9%), from €243,334 to €269,739
- Staff costs +€22,810
up €22,810 (+11.6%), from €196,602 to €219,412
- Other operating charges -€3,570
down €3,570 (-18.1%), from €19,780 to €16,210
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 | €142,991 | €129,529 | -€13,463 | -9.4% |
| Fixed assets | 21/28 | €54,189 | €39,344 | -€14,844 | -27.4% |
| Tangible fixed assets | 22/27 | €48,349 | €33,504 | -€14,844 | -30.7% |
| Land and buildings | 22 | €2,627 | €1,945 | -€682 | -26.0% |
| Plant, machinery and equipment | 23 | €5,887 | €4,152 | -€1,735 | -29.5% |
| Furniture and vehicles | 24 | €39,834 | €27,407 | -€12,427 | -31.2% |
| Financial fixed assets | 28 | €5,840 | €5,840 | = | 0.0% |
| Current assets | 29/58 | €88,802 | €90,184 | +€1,382 | +1.6% |
| Stocks and contracts in progress | 3 | €42,706 | €38,289 | -€4,417 | -10.3% |
| Stocks | 30/36 | €42,706 | €38,289 | -€4,417 | -10.3% |
| Amounts receivable within one year | 40/41 | €794 | - | -€794 | |
| Other amounts receivable | 41 | €794 | - | -€794 | |
| Current investments | 50/53 | €9,300 | €9,300 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €36,002 | €33,815 | -€2,188 | -6.1% |
| Deferred charges and accrued income | 490/1 | - | €8,781 | +€8,781 | |
| Total equity and liabilities | 10/49 | €142,991 | €129,529 | -€13,463 | -9.4% |
| Equity | 10/15 | €44,834 | €30,236 | -€14,598 | -32.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,653 | €126 | -€10,527 | -98.8% |
| Investment grants | 15 | €15,581 | €11,510 | -€4,071 | -26.1% |
| Amounts payable | 17/49 | €98,157 | €99,293 | +€1,136 | +1.2% |
| Amounts payable within one year | 42/48 | €87,098 | €99,293 | +€12,195 | +14.0% |
| Trade debts | 44 | €31,475 | €42,501 | +€11,027 | +35.0% |
| Suppliers | 440/4 | €31,475 | €42,501 | +€11,027 | +35.0% |
| Taxes, remuneration and social security | 45 | €47,517 | €53,161 | +€5,644 | +11.9% |
| Taxes | 450/3 | €19,788 | €12,453 | -€7,336 | -37.1% |
| Remuneration and social security | 454/9 | €27,729 | €40,708 | +€12,980 | +46.8% |
| Other amounts payable | 47/48 | €8,106 | €3,631 | -€4,476 | -55.2% |
| Accrued charges and deferred income | 492/3 | €11,059 | - | -€11,059 | |
| Remuneration, social security and pensions | 62 | €196,602 | €219,412 | +€22,810 | +11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,024 | €14,844 | -€1,179 | -7.4% |
| Other operating charges | 640/8 | €19,780 | €16,210 | -€3,570 | -18.1% |
| Gross operating margin | 9900 | €243,334 | €269,739 | +€26,405 | +10.9% |
| Operating profit (loss) | 9901 | €10,928 | €19,272 | +€8,344 | +76.4% |
| Financial income | 75/76B | €4,077 | €4,077 | -€0 | 0.0% |
| Recurring financial income | 75 | €4,077 | €4,077 | -€0 | 0.0% |
| Financial charges | 65/66B | €1,619 | €33,745 | +€32,126 | +1984.5% |
| Recurring financial charges | 65 | €1,619 | €33,745 | +€32,126 | +1984.5% |
| Profit (loss) for the period before taxes | 9903 | €13,386 | -€10,396 | -€23,782 | |
| Income taxes | 67/77 | €135 | €131 | -€5 | -3.4% |
| Profit (loss) for the period | 9904 | €13,251 | -€10,527 | -€23,778 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,251 | -€10,527 | -€23,778 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.