NELSON MANAGEMENT SERVICES: 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 MANAGEMENT SERVICES
Largest movements
- Tangible fixed assets +€10,292
up €10,292 (+46.8%), from €21,986 to €32,278
of which Furniture and vehicles: +€10,709
- Deferred charges and accrued income +€4,185
up €4,185 (+11.8%), from €35,391 to €39,576
- Receivables within one year -€2,753
down €2,753 (-7.4%), from €37,205 to €34,452
of which Trade receivables: -€1,914
- Tax, wage and social debts +€16,296
up €16,296 (+251%), from €6,500 to €22,796
of which Remuneration and social security: +€10,894
- Profit (loss) carried forward -€13,658
down €13,658 (-58.1%), from -€23,514 to -€37,172
- Debts after one year -€13,193
down €13,193 (-38.1%), from €34,661 to €21,468
- Trade debts +€10,731
up €10,731 (+91.4%), from €11,744 to €22,475
- Other debts +€7,807
up €7,807 (+48.0%), from €16,273 to €24,080
- Write-downs +€162,798
new in 2025: €162,798
- Gross operating margin +€137,959
up €137,959 (+656%), from €21,017 to €158,977
- Taxes -€3,846
down €3,846 (-56.9%), from €6,759 to €2,912
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €99,583 | €111,308 | +€11,724 | +11.8% |
| Fixed assets | 21/28 | €26,987 | €37,279 | +€10,292 | +38.1% |
| Tangible fixed assets | 22/27 | €21,986 | €32,278 | +€10,292 | +46.8% |
| Plant, machinery and equipment | 23 | €2,481 | €2,177 | -€303 | -12.2% |
| Furniture and vehicles | 24 | €19,278 | €29,988 | +€10,709 | +55.6% |
| Other tangible fixed assets | 26 | €227 | €114 | -€114 | -50.0% |
| Financial fixed assets | 28 | €5,001 | €5,001 | = | 0.0% |
| Current assets | 29/58 | €72,596 | €74,028 | +€1,432 | +2.0% |
| Amounts receivable within one year | 40/41 | €37,205 | €34,452 | -€2,753 | -7.4% |
| Trade receivables | 40 | €32,534 | €30,621 | -€1,914 | -5.9% |
| Other amounts receivable | 41 | €4,671 | €3,831 | -€839 | -18.0% |
| Deferred charges and accrued income | 490/1 | €35,391 | €39,576 | +€4,185 | +11.8% |
| Total equity and liabilities | 10/49 | €99,583 | €111,308 | +€11,724 | +11.8% |
| Equity | 10/15 | -€9,259 | -€22,917 | -€13,658 | -148% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€23,514 | -€37,172 | -€13,658 | -58.1% |
| Amounts payable | 17/49 | €108,842 | €134,225 | +€25,383 | +23.3% |
| Amounts payable after more than one year | 17 | €34,661 | €21,468 | -€13,193 | -38.1% |
| Financial debts | 170/4 | €34,661 | €21,468 | -€13,193 | -38.1% |
| Amounts payable within one year | 42/48 | €59,578 | €99,116 | +€39,538 | +66.4% |
| Current portion of amounts payable after more than one year | 42 | €12,917 | €13,193 | +€276 | +2.1% |
| Financial debts | 43 | €12,144 | €16,572 | +€4,428 | +36.5% |
| Credit institutions | 430/8 | €12,144 | €16,572 | +€4,428 | +36.5% |
| Trade debts | 44 | €11,744 | €22,475 | +€10,731 | +91.4% |
| Suppliers | 440/4 | €11,744 | €22,475 | +€10,731 | +91.4% |
| Taxes, remuneration and social security | 45 | €6,500 | €22,796 | +€16,296 | +251% |
| Taxes | 450/3 | €6,500 | €11,902 | +€5,402 | +83.1% |
| Remuneration and social security | 454/9 | - | €10,894 | +€10,894 | |
| Other amounts payable | 47/48 | €16,273 | €24,080 | +€7,807 | +48.0% |
| Accrued charges and deferred income | 492/3 | €14,603 | €13,641 | -€963 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,012 | €3,458 | +€446 | +14.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €162,798 | +€162,798 | |
| Other operating charges | 640/8 | €1,076 | €842 | -€234 | -21.7% |
| Gross operating margin | 9900 | €21,017 | €158,977 | +€137,959 | +656% |
| Operating profit (loss) | 9901 | €16,930 | -€8,121 | -€25,051 | |
| Financial income | 75/76B | €0 | €11 | +€11 | +53,950% |
| Recurring financial income | 75 | €0 | €11 | +€11 | +53,950% |
| Financial charges | 65/66B | €2,681 | €2,636 | -€46 | -1.7% |
| Recurring financial charges | 65 | €2,681 | €2,636 | -€46 | -1.7% |
| Profit (loss) for the period before taxes | 9903 | €14,249 | -€10,746 | -€24,995 | |
| Income taxes | 67/77 | €6,759 | €2,912 | -€3,846 | -56.9% |
| Profit (loss) for the period | 9904 | €7,490 | -€13,658 | -€21,148 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,490 | -€13,658 | -€21,148 |
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 14 October 2026 via checked.be.