NELSON ANTWERPEN: 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.
NELSON ANTWERPEN
Largest movements
- Cash -€217,673
down €217,673 (-60.8%), from €357,805 to €140,132
mainly Net result for the year (-€364,323) and Accrued charges and deferred income (-€90,720)
- Receivables within one year -€111,301
down €111,301 (-56.7%), from €196,413 to €85,112
of which Other amounts receivable: -€126,573
- Stocks and contracts -€18,413
down €18,413 (-100%), from €18,413 to €0
- Profit (loss) carried forward -€364,323
down €364,323 (-165%), from -€221,023 to -€585,346
- Accrued charges and deferred income -€90,720
down €90,720 (-92.0%), from €98,622 to €7,902
- Trade debts +€78,239
up €78,239 (+16.3%), from €478,863 to €557,101
- Tax, wage and social debts +€31,681
up €31,681 (+205%), from €15,437 to €47,118
- Staff costs +€341,194
up €341,194 (+140%), from €243,420 to €584,614
- Gross operating margin +€297,034
up €297,034 (+853%), from €34,829 to €331,863
- Other operating charges +€95,104
up €95,104 (+1,234%), from €7,706 to €102,811
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 | €627,443 | €282,319 | -€345,124 | -55.0% |
| Fixed assets | 21/28 | €45,247 | €48,692 | +€3,445 | +7.6% |
| Intangible fixed assets | 21 | €4,246 | €3,246 | -€1,000 | -23.5% |
| Tangible fixed assets | 22/27 | €38,054 | €42,499 | +€4,445 | +11.7% |
| Plant, machinery and equipment | 23 | €17,632 | €21,669 | +€4,037 | +22.9% |
| Furniture and vehicles | 24 | €20,421 | €20,830 | +€409 | +2.0% |
| Financial fixed assets | 28 | €2,947 | €2,947 | = | 0.0% |
| Current assets | 29/58 | €582,196 | €233,627 | -€348,569 | -59.9% |
| Stocks and contracts in progress | 3 | €18,413 | €0 | -€18,413 | -100% |
| Stocks | 30/36 | €18,413 | €0 | -€18,413 | -100% |
| Amounts receivable within one year | 40/41 | €196,413 | €85,112 | -€111,301 | -56.7% |
| Trade receivables | 40 | €53,841 | €69,113 | +€15,271 | +28.4% |
| Other amounts receivable | 41 | €142,572 | €15,999 | -€126,573 | -88.8% |
| Cash at bank and in hand | 54/58 | €357,805 | €140,132 | -€217,673 | -60.8% |
| Deferred charges and accrued income | 490/1 | €9,565 | €8,383 | -€1,182 | -12.4% |
| Total equity and liabilities | 10/49 | €627,443 | €282,319 | -€345,124 | -55.0% |
| Equity | 10/15 | -€21,023 | -€385,346 | -€364,323 | -1,733% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€221,023 | -€585,346 | -€364,323 | -165% |
| Amounts payable | 17/49 | €648,466 | €667,665 | +€19,200 | +3.0% |
| Amounts payable within one year | 42/48 | €549,843 | €659,763 | +€109,920 | +20.0% |
| Trade debts | 44 | €478,863 | €557,101 | +€78,239 | +16.3% |
| Suppliers | 440/4 | €478,863 | €557,101 | +€78,239 | +16.3% |
| Taxes, remuneration and social security | 45 | €15,437 | €47,118 | +€31,681 | +205% |
| Remuneration and social security | 454/9 | €15,437 | €47,118 | +€31,681 | +205% |
| Other amounts payable | 47/48 | €55,544 | €55,544 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €98,622 | €7,902 | -€90,720 | -92.0% |
| Remuneration, social security and pensions | 62 | €243,420 | €584,614 | +€341,194 | +140% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,723 | €5,593 | +€2,869 | +105% |
| Other operating charges | 640/8 | €7,706 | €102,811 | +€95,104 | +1,234% |
| Non-recurring operating charges | 66A | €1,374 | €0 | -€1,374 | -100% |
| Gross operating margin | 9900 | €34,829 | €331,863 | +€297,034 | +853% |
| Operating profit (loss) | 9901 | -€220,395 | -€361,155 | -€140,760 | -63.9% |
| Financial income | 75/76B | €1,080 | €45 | -€1,035 | -95.8% |
| Recurring financial income | 75 | €1,080 | €45 | -€1,035 | -95.8% |
| Financial charges | 65/66B | €1,708 | €3,214 | +€1,506 | +88.2% |
| Recurring financial charges | 65 | €1,708 | €3,214 | +€1,506 | +88.2% |
| Profit (loss) for the period before taxes | 9903 | -€221,023 | -€364,323 | -€143,301 | -64.8% |
| Profit (loss) for the period | 9904 | -€221,023 | -€364,323 | -€143,301 | -64.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€221,023 | -€364,323 | -€143,301 | -64.8% |
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 20 October 2026 via checked.be.