Nelson Maritime 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 Maritime Services
Largest movements
- Receivables within one year -€188,576
down €188,576 (-45.3%), from €415,869 to €227,293
of which Trade receivables: -€171,800
- Current investments +€125,000
up €125,000, from €0 to €125,000
- Cash -€116,307
down €116,307 (-43.8%), from €265,668 to €149,361
mainly Contributions, distributions and other (-€356,192) and Current investments (-€125,000)
- Tangible fixed assets +€38,770
up €38,770 (+7.2%), from €542,177 to €580,947
of which Land and buildings: +€41,210
- Reserves -€119,991
down €119,991 (-9.3%), from €1.3m to €1.2m
- Tax, wage and social debts +€34,362
up €34,362 (+1,042%), from €3,299 to €37,661
- Debts after one year -€29,764
down €29,764 (-10.5%), from €283,284 to €253,520
- Other debts -€25,440
down €25,440 (-82.4%), from €30,868 to €5,428
- Gross operating margin +€166,463
up €166,463 (+83.7%), from €198,987 to €365,449
- Taxes +€49,019
up €49,019 (+161%), from €30,522 to €79,541
- Financial income -€12,974
down €12,974 (-83.8%), from €15,484 to €2,510
of which Financial income: -€7,390
- Depreciation -€8,230
down €8,230 (-18.0%), from €45,631 to €37,401
- Other operating charges +€6,088
up €6,088 (+452%), from €1,346 to €7,434
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 | €1,660,095 | €1,519,866 | -€140,229 | -8.4% |
| Fixed assets | 21/28 | €975,228 | €1,013,999 | +€38,770 | +4.0% |
| Tangible fixed assets | 22/27 | €542,177 | €580,947 | +€38,770 | +7.2% |
| Land and buildings | 22 | €523,155 | €564,365 | +€41,210 | +7.9% |
| Furniture and vehicles | 24 | €19,022 | €16,582 | -€2,440 | -12.8% |
| Financial fixed assets | 28 | €433,052 | €433,052 | = | 0.0% |
| Current assets | 29/58 | €684,867 | €505,867 | -€178,999 | -26.1% |
| Amounts receivable within one year | 40/41 | €415,869 | €227,293 | -€188,576 | -45.3% |
| Trade receivables | 40 | €391,180 | €219,380 | -€171,800 | -43.9% |
| Other amounts receivable | 41 | €24,689 | €7,913 | -€16,776 | -67.9% |
| Current investments | 50/53 | €0 | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €265,668 | €149,361 | -€116,307 | -43.8% |
| Deferred charges and accrued income | 490/1 | €3,329 | €4,213 | +€884 | +26.5% |
| Total equity and liabilities | 10/49 | €1,660,095 | €1,519,866 | -€140,229 | -8.4% |
| Equity | 10/15 | €1,310,011 | €1,190,020 | -€119,991 | -9.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,290,011 | €1,170,020 | -€119,991 | -9.3% |
| Distributable reserves | 133 | €1,290,011 | €1,170,020 | -€119,991 | -9.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €350,084 | €329,846 | -€20,238 | -5.8% |
| Amounts payable after more than one year | 17 | €283,284 | €253,520 | -€29,764 | -10.5% |
| Financial debts | 170/4 | €283,284 | €253,520 | -€29,764 | -10.5% |
| Amounts payable within one year | 42/48 | €66,135 | €75,511 | +€9,376 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €29,270 | €29,764 | +€494 | +1.7% |
| Trade debts | 44 | €2,698 | €2,657 | -€41 | -1.5% |
| Suppliers | 440/4 | €2,698 | €2,657 | -€41 | -1.5% |
| Taxes, remuneration and social security | 45 | €3,299 | €37,661 | +€34,362 | +1,042% |
| Taxes | 450/3 | €3,299 | €37,661 | +€34,362 | +1,042% |
| Other amounts payable | 47/48 | €30,868 | €5,428 | -€25,440 | -82.4% |
| Accrued charges and deferred income | 492/3 | €665 | €816 | +€151 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,631 | €37,401 | -€8,230 | -18.0% |
| Other operating charges | 640/8 | €1,346 | €7,434 | +€6,088 | +452% |
| Gross operating margin | 9900 | €198,987 | €365,449 | +€166,463 | +83.7% |
| Operating profit (loss) | 9901 | €152,010 | €320,615 | +€168,605 | +111% |
| Financial income | 75/76B | €15,484 | €2,510 | -€12,974 | -83.8% |
| Recurring financial income | 75 | €9,900 | €2,510 | -€7,390 | -74.6% |
| Non-recurring financial income | 76B | €5,584 | - | -€5,584 | |
| Financial charges | 65/66B | €7,308 | €7,383 | +€75 | +1.0% |
| Recurring financial charges | 65 | €7,308 | €7,383 | +€75 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | €160,185 | €315,742 | +€155,556 | +97.1% |
| Income taxes | 67/77 | €30,522 | €79,541 | +€49,019 | +161% |
| Profit (loss) for the period | 9904 | €129,663 | €236,200 | +€106,537 | +82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €129,663 | €236,200 | +€106,537 | +82.2% |
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 29 October 2026 via checked.be.