NELSONTREE: 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.
NELSONTREE
Largest movements
- Current investments +€150,000
new in 2025: €150,000
- Cash -€70,578
down €70,578 (-58.5%), from €120,595 to €50,017
mainly Current investments (-€150,000) and Receivables within one year (-€25,037)
- Receivables within one year +€25,037
up €25,037 (+63.7%), from €39,293 to €64,330
of which Other amounts receivable: +€34,482
- Reserves +€116,026
up €116,026 (+164%), from €70,954 to €186,980
- Other debts -€16,623
down €16,623 (-98.7%), from €16,839 to €216
- Tax, wage and social debts +€8,170
up €8,170 (+39.9%), from €20,500 to €28,670
of which Taxes: +€10,920
- Accrued charges and deferred income -€5,793
down €5,793 (-31.7%), from €18,293 to €12,500
- Gross operating margin +€50,371
up €50,371 (+46.7%), from €107,767 to €158,138
- Taxes +€16,202
up €16,202 (+91.3%), from €17,750 to €33,952
- Other operating charges -€13,280
down €13,280 (-99.5%), from €13,343 to €63
- Financial charges +€2,563
up €2,563 (+51.2%), from €5,001 to €7,564
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 | €335,052 | €439,243 | +€104,191 | +31.1% |
| Fixed assets | 21/28 | €2,513 | €1,436 | -€1,077 | -42.9% |
| Tangible fixed assets | 22/27 | €2,513 | €1,436 | -€1,077 | -42.9% |
| Plant, machinery and equipment | 23 | €2,513 | €1,436 | -€1,077 | -42.9% |
| Current assets | 29/58 | €332,539 | €437,807 | +€105,268 | +31.7% |
| Stocks and contracts in progress | 3 | €172,651 | €172,651 | = | 0.0% |
| Stocks | 30/36 | €172,651 | €172,651 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,293 | €64,330 | +€25,037 | +63.7% |
| Trade receivables | 40 | €34,275 | €24,830 | -€9,444 | -27.6% |
| Other amounts receivable | 41 | €5,018 | €39,500 | +€34,482 | +687% |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €120,595 | €50,017 | -€70,578 | -58.5% |
| Deferred charges and accrued income | 490/1 | - | €809 | +€809 | |
| Total equity and liabilities | 10/49 | €335,052 | €439,243 | +€104,191 | +31.1% |
| Equity | 10/15 | €75,954 | €191,980 | +€116,026 | +153% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,954 | €186,980 | +€116,026 | +164% |
| Distributable reserves | 133 | €70,954 | €186,980 | +€116,026 | +164% |
| Amounts payable | 17/49 | €259,097 | €247,262 | -€11,835 | -4.6% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €40,804 | €34,762 | -€6,042 | -14.8% |
| Trade debts | 44 | €3,465 | €5,876 | +€2,411 | +69.6% |
| Suppliers | 440/4 | €3,465 | €5,876 | +€2,411 | +69.6% |
| Taxes, remuneration and social security | 45 | €20,500 | €28,670 | +€8,170 | +39.9% |
| Taxes | 450/3 | €17,750 | €28,670 | +€10,920 | +61.5% |
| Remuneration and social security | 454/9 | €2,750 | - | -€2,750 | |
| Other amounts payable | 47/48 | €16,839 | €216 | -€16,623 | -98.7% |
| Accrued charges and deferred income | 492/3 | €18,293 | €12,500 | -€5,793 | -31.7% |
| Remuneration, social security and pensions | 62 | - | €264 | +€264 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €718 | €1,077 | +€359 | +50.0% |
| Other operating charges | 640/8 | €13,343 | €63 | -€13,280 | -99.5% |
| Gross operating margin | 9900 | €107,767 | €158,138 | +€50,371 | +46.7% |
| Operating profit (loss) | 9901 | €93,705 | €156,733 | +€63,028 | +67.3% |
| Financial income | 75/76B | - | €809 | +€809 | |
| Recurring financial income | 75 | - | €809 | +€809 | |
| Financial charges | 65/66B | €5,001 | €7,564 | +€2,563 | +51.2% |
| Recurring financial charges | 65 | €5,001 | €7,564 | +€2,563 | +51.2% |
| Profit (loss) for the period before taxes | 9903 | €88,704 | €149,978 | +€61,274 | +69.1% |
| Income taxes | 67/77 | €17,750 | €33,952 | +€16,202 | +91.3% |
| Profit (loss) for the period | 9904 | €70,954 | €116,026 | +€45,072 | +63.5% |
| Profit (loss) for the period to be appropriated | 9905 | €70,954 | €116,026 | +€45,072 | +63.5% |
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 17 October 2026 via checked.be.