NELSON CANAL: 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.
What changed
NELSON CANAL
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€29,288
2024 · €8,138-€37,426
Equity
€2.5m
2024 · €2.6m-€29,288
Cash
€545,213
2024 · €586,515-€41,302
Balance sheet total
€6.0m
2024 · €6.8m-€753,395
Largest movements
Assets
- Tangible fixed assets -€693,495
down €693,495 (-12.7%), from €5.5m to €4.8m
of which Land and buildings: -€682,245
Equity and liabilities
- Debts after one year -€688,529
down €688,529 (-20.0%), from €3.4m to €2.7m
Income statement
- Financial charges +€22,840
up €22,840 (+13.8%), from €165,505 to €188,345
of which Non-recurring financial charges: +€50,000
- Depreciation +€10,931
up €10,931 (+1.5%), from €705,906 to €716,836
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.
Result 2024
€8,138
Gross operating margin
+€1,365
Depreciation
-€10,931
Other operating charges
-€5,660
Financial income
+€932
Financial charges
-€22,840
Taxes
-€292
Result 2025
-€29,288
raises the resultlowers the result
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.
From operations
+€654,929
Investment
-€18,374
Financing
-€677,857
Cash 2024
€586,515
From operations (derived)
+€654,929
Net result for the year
-€29,288
Depreciation
+€716,836
Receivables within one year
-€40,443
Deferred charges and accrued income
+€54,074
Trade debts
-€35,367
Tax, wage and social debts
-€11,772
Other debts
+€889
Investment (derived)
-€18,374
Investment in fixed assets (net)
-€18,374
Financing
-€677,857
Debts after one year
-€688,529
Current portion of long-term debt
+€10,671
Cash 2025
€545,213
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,779,526 | €6,026,131 | -€753,395 | -11.1% |
| Fixed assets | 21/28 | €5,525,829 | €4,827,367 | -€698,462 | -12.6% |
| Intangible fixed assets | 21 | €9,825 | €4,858 | -€4,967 | -50.6% |
| Tangible fixed assets | 22/27 | €5,453,604 | €4,760,109 | -€693,495 | -12.7% |
| Land and buildings | 22 | €5,409,097 | €4,726,852 | -€682,245 | -12.6% |
| Furniture and vehicles | 24 | €44,507 | €33,257 | -€11,250 | -25.3% |
| Financial fixed assets | 28 | €62,400 | €62,400 | = | 0.0% |
| Current assets | 29/58 | €1,253,697 | €1,198,764 | -€54,933 | -4.4% |
| Amounts receivable within one year | 40/41 | €216,542 | €256,985 | +€40,443 | +18.7% |
| Trade receivables | 40 | €165,731 | €119,485 | -€46,247 | -27.9% |
| Other amounts receivable | 41 | €50,811 | €137,500 | +€86,690 | +171% |
| Cash at bank and in hand | 54/58 | €586,515 | €545,213 | -€41,302 | -7.0% |
| Deferred charges and accrued income | 490/1 | €450,640 | €396,566 | -€54,074 | -12.0% |
| Total equity and liabilities | 10/49 | €6,779,526 | €6,026,131 | -€753,395 | -11.1% |
| Equity | 10/15 | €2,557,693 | €2,528,405 | -€29,288 | -1.1% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Capital | 10 | €5,000,000 | €5,000,000 | = | 0.0% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,442,307 | -€2,471,595 | -€29,288 | -1.2% |
| Amounts payable | 17/49 | €4,221,833 | €3,497,726 | -€724,107 | -17.2% |
| Amounts payable after more than one year | 17 | €3,435,414 | €2,746,885 | -€688,529 | -20.0% |
| Financial debts | 170/4 | €3,435,414 | €2,746,885 | -€688,529 | -20.0% |
| Amounts payable within one year | 42/48 | €786,419 | €750,841 | -€35,578 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €681,302 | €691,974 | +€10,671 | +1.6% |
| Trade debts | 44 | €35,439 | €73 | -€35,367 | -99.8% |
| Suppliers | 440/4 | €35,439 | €73 | -€35,367 | -99.8% |
| Taxes, remuneration and social security | 45 | €68,361 | €56,590 | -€11,772 | -17.2% |
| Taxes | 450/3 | €68,361 | €56,590 | -€11,772 | -17.2% |
| Other amounts payable | 47/48 | €1,316 | €2,205 | +€889 | +67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €705,906 | €716,836 | +€10,931 | +1.5% |
| Other operating charges | 640/8 | €171,510 | €177,170 | +€5,660 | +3.3% |
| Gross operating margin | 9900 | €1,049,279 | €1,050,644 | +€1,365 | +0.1% |
| Operating profit (loss) | 9901 | €171,864 | €156,638 | -€15,226 | -8.9% |
| Financial income | 75/76B | €2,262 | €3,194 | +€932 | +41.2% |
| Recurring financial income | 75 | €2,262 | €3,194 | +€932 | +41.2% |
| Financial charges | 65/66B | €165,505 | €188,345 | +€22,840 | +13.8% |
| Recurring financial charges | 65 | €165,505 | €138,345 | -€27,160 | -16.4% |
| Non-recurring financial charges | 66B | - | €50,000 | +€50,000 | |
| Profit (loss) for the period before taxes | 9903 | €8,621 | -€28,513 | -€37,134 | |
| Income taxes | 67/77 | €483 | €775 | +€292 | +60.4% |
| Profit (loss) for the period | 9904 | €8,138 | -€29,288 | -€37,426 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,138 | -€29,288 | -€37,426 |
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 19 October 2026 via checked.be.