NELSHOF: 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.
NELSHOF
Largest movements
- Current investments +€190,357
new in 2025: €190,357
- Cash -€116,469
down €116,469 (-75.6%), from €154,098 to €37,628
mainly Current investments (-€190,357) and Accrued charges and deferred income (-€20,944)
- Tangible fixed assets +€4,121
up €4,121 (+33.2%), from €12,423 to €16,545
of which Furniture and vehicles: +€2,666
- Reserves +€96,901
up €96,901 (+73.6%), from €131,645 to €228,546
- Accrued charges and deferred income -€20,944
down €20,944 (-99.1%), from €21,126 to €182
- Tax, wage and social debts +€6,401
up €6,401 (+19.8%), from €32,268 to €38,669
- Gross operating margin +€27,615
up €27,615 (+27.0%), from €102,126 to €129,741
- Taxes +€5,870
up €5,870 (+27.9%), from €21,043 to €26,913
- Depreciation +€2,527
up €2,527 (+216.0%), from €1,170 to €3,696
- Financial charges +€2,237
up €2,237 (+1126.2%), from €199 to €2,435
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 | €191,511 | €272,203 | +€80,692 | +42.1% |
| Fixed assets | 21/28 | €12,423 | €16,545 | +€4,121 | +33.2% |
| Tangible fixed assets | 22/27 | €12,423 | €16,545 | +€4,121 | +33.2% |
| Furniture and vehicles | 24 | €565 | €3,231 | +€2,666 | +472.1% |
| Other tangible fixed assets | 26 | €11,859 | €13,314 | +€1,455 | +12.3% |
| Current assets | 29/58 | €179,087 | €255,658 | +€76,571 | +42.8% |
| Amounts receivable within one year | 40/41 | €22,183 | €24,267 | +€2,084 | +9.4% |
| Trade receivables | 40 | €22,183 | €24,267 | +€2,084 | +9.4% |
| Current investments | 50/53 | - | €190,357 | +€190,357 | |
| Cash at bank and in hand | 54/58 | €154,098 | €37,628 | -€116,469 | -75.6% |
| Deferred charges and accrued income | 490/1 | €2,806 | €3,407 | +€600 | +21.4% |
| Total equity and liabilities | 10/49 | €191,511 | €272,203 | +€80,692 | +42.1% |
| Equity | 10/15 | €132,645 | €229,546 | +€96,901 | +73.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €131,645 | €228,546 | +€96,901 | +73.6% |
| Distributable reserves | 133 | €131,645 | €228,546 | +€96,901 | +73.6% |
| Amounts payable | 17/49 | €58,865 | €42,657 | -€16,208 | -27.5% |
| Amounts payable within one year | 42/48 | €37,740 | €42,475 | +€4,735 | +12.5% |
| Trade debts | 44 | €3,517 | €3,051 | -€466 | -13.3% |
| Suppliers | 440/4 | €3,517 | €3,051 | -€466 | -13.3% |
| Taxes, remuneration and social security | 45 | €32,268 | €38,669 | +€6,401 | +19.8% |
| Taxes | 450/3 | €32,268 | €38,669 | +€6,401 | +19.8% |
| Other amounts payable | 47/48 | €1,955 | €755 | -€1,200 | -61.4% |
| Accrued charges and deferred income | 492/3 | €21,126 | €182 | -€20,944 | -99.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,170 | €3,696 | +€2,527 | +216.0% |
| Other operating charges | 640/8 | €925 | €1,072 | +€147 | +15.9% |
| Gross operating margin | 9900 | €102,126 | €129,741 | +€27,615 | +27.0% |
| Operating profit (loss) | 9901 | €100,031 | €124,973 | +€24,942 | +24.9% |
| Financial income | 75/76B | €628 | €1,276 | +€647 | +103.0% |
| Recurring financial income | 75 | €628 | €1,276 | +€647 | +103.0% |
| Financial charges | 65/66B | €199 | €2,435 | +€2,237 | +1126.2% |
| Recurring financial charges | 65 | €199 | €2,435 | +€2,237 | +1126.2% |
| Profit (loss) for the period before taxes | 9903 | €100,461 | €123,813 | +€23,352 | +23.2% |
| Income taxes | 67/77 | €21,043 | €26,913 | +€5,870 | +27.9% |
| Profit (loss) for the period | 9904 | €79,418 | €96,901 | +€17,483 | +22.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,418 | €96,901 | +€17,483 | +22.0% |
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 8 October 2026 via checked.be.