NELU CONSTRUCT: what changed
Two fiscal 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.
NELU CONSTRUCT
Largest movements
- Receivables within one year +€66,963
up €66,963 (+80.3%), from €83,399 to €150,362
of which Other amounts receivable: +€40,135
- Cash -€2,779
down €2,779 (-26.6%), from €10,448 to €7,668
mainly Receivables within one year (-€66,963) and Trade debts (-€41,964)
- Tangible fixed assets -€2,094
down €2,094 (-40.5%), from €5,171 to €3,078
of which Furniture and vehicles: -€1,725
- Reserves +€84,024
up €84,024 (+4517.4%), from €1,860 to €85,884
of which Distributable reserves: +€84,024
- Trade debts -€41,964
down €41,964 (-77.5%), from €54,127 to €12,164
- Tax, wage and social debts +€25,915
up €25,915 (+298.1%), from €8,693 to €34,608
- Other debts -€4,236
down €4,236 (-31.0%), from €13,683 to €9,447
- Debts after one year -€2,885
down €2,885 (-20.5%), from €14,055 to €11,170
- Gross operating margin +€91,166
up €91,166 (+315.4%), from €28,901 to €120,067
- Taxes +€25,915
up €25,915 (+493.0%), from €5,256 to €31,171
- Depreciation -€2,210
down €2,210 (-48.1%), from €4,594 to €2,384
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.
Cash bridge derived
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 | €101,243 | €162,358 | +€61,115 | +60.4% |
| Fixed assets | 21/28 | €6,421 | €4,328 | -€2,094 | -32.6% |
| Tangible fixed assets | 22/27 | €5,171 | €3,078 | -€2,094 | -40.5% |
| Plant, machinery and equipment | 23 | €1,798 | €1,429 | -€369 | -20.5% |
| Furniture and vehicles | 24 | €3,373 | €1,649 | -€1,725 | -51.1% |
| Financial fixed assets | 28 | €1,250 | €1,250 | = | 0.0% |
| Current assets | 29/58 | €94,821 | €158,031 | +€63,209 | +66.7% |
| Amounts receivable within one year | 40/41 | €83,399 | €150,362 | +€66,963 | +80.3% |
| Trade receivables | 40 | €1,000 | €27,828 | +€26,828 | +2682.8% |
| Other amounts receivable | 41 | €82,399 | €122,535 | +€40,135 | +48.7% |
| Cash at bank and in hand | 54/58 | €10,448 | €7,668 | -€2,779 | -26.6% |
| Deferred charges and accrued income | 490/1 | €975 | - | -€975 | |
| Total equity and liabilities | 10/49 | €101,243 | €162,358 | +€61,115 | +60.4% |
| Equity | 10/15 | €8,060 | €92,084 | +€84,024 | +1042.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | - | -€6,200 | |
| Issued capital | 100 | €18,600 | - | -€18,600 | |
| Uncalled capital | 101 | €12,400 | - | -€12,400 | |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| Reserves | 13 | €1,860 | €85,884 | +€84,024 | +4517.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | - | €84,024 | +€84,024 | |
| Amounts payable | 17/49 | €93,183 | €70,274 | -€22,908 | -24.6% |
| Amounts payable after more than one year | 17 | €14,055 | €11,170 | -€2,885 | -20.5% |
| Financial debts | 170/4 | €14,055 | €11,170 | -€2,885 | -20.5% |
| Amounts payable within one year | 42/48 | €79,128 | €59,105 | -€20,023 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €2,624 | €2,885 | +€261 | +10.0% |
| Trade debts | 44 | €54,127 | €12,164 | -€41,964 | -77.5% |
| Suppliers | 440/4 | €54,127 | €12,164 | -€41,964 | -77.5% |
| Taxes, remuneration and social security | 45 | €8,693 | €34,608 | +€25,915 | +298.1% |
| Taxes | 450/3 | €8,693 | €34,608 | +€25,915 | +298.1% |
| Other amounts payable | 47/48 | €13,683 | €9,447 | -€4,236 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,594 | €2,384 | -€2,210 | -48.1% |
| Other operating charges | 640/8 | €1,114 | €876 | -€239 | -21.4% |
| Gross operating margin | 9900 | €28,901 | €120,067 | +€91,166 | +315.4% |
| Operating profit (loss) | 9901 | €23,193 | €116,807 | +€93,615 | +403.6% |
| Financial charges | 65/66B | €1,839 | €1,612 | -€226 | -12.3% |
| Recurring financial charges | 65 | €1,839 | €1,612 | -€226 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €21,354 | €115,195 | +€93,841 | +439.5% |
| Income taxes | 67/77 | €5,256 | €31,171 | +€25,915 | +493.0% |
| Profit (loss) for the period | 9904 | €16,098 | €84,024 | +€67,926 | +422.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,098 | €84,024 | +€67,926 | +422.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.