NELVE: 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.
NELVE
Largest movements
- Tangible fixed assets -€41,396
down €41,396 (-7.0%), from €590,718 to €549,323
of which Land and buildings: -€40,425
- Cash +€17,739
up €17,739 (+50.3%), from €35,263 to €53,001
mainly Depreciation (+€39,220) and Other debts (+€8,190)
- Debts after one year -€30,000
down €30,000 (-7.7%), from €391,141 to €361,141
- Other debts +€8,190
up €8,190 (+7.8%), from €105,594 to €113,784
- Gross operating margin -€12,312
down €12,312 (-16.7%), from €73,761 to €61,449
- Depreciation -€2,615
down €2,615 (-6.3%), from €41,835 to €39,220
- Other operating charges +€1,837
up €1,837 (+17.6%), from €10,448 to €12,285
- Financial charges -€783
down €783 (-6.3%), from €12,513 to €11,730
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 | €626,616 | €605,687 | -€20,929 | -3.3% |
| Fixed assets | 21/28 | €590,718 | €549,323 | -€41,396 | -7.0% |
| Tangible fixed assets | 22/27 | €590,718 | €549,323 | -€41,396 | -7.0% |
| Land and buildings | 22 | €583,897 | €543,472 | -€40,425 | -6.9% |
| Plant, machinery and equipment | 23 | €6,822 | €5,851 | -€971 | -14.2% |
| Current assets | 29/58 | €35,898 | €56,364 | +€20,467 | +57.0% |
| Amounts receivable within one year | 40/41 | €95 | €2,799 | +€2,704 | +2860.8% |
| Other amounts receivable | 41 | €95 | €2,799 | +€2,704 | +2860.8% |
| Cash at bank and in hand | 54/58 | €35,263 | €53,001 | +€17,739 | +50.3% |
| Deferred charges and accrued income | 490/1 | €541 | €564 | +€24 | +4.4% |
| Total equity and liabilities | 10/49 | €626,616 | €605,687 | -€20,929 | -3.3% |
| Equity | 10/15 | €129,519 | €127,949 | -€1,570 | -1.2% |
| Contributions | 10/11 | €511,000 | €511,000 | = | 0.0% |
| Reserves | 13 | €10,114 | €10,114 | = | 0.0% |
| Distributable reserves | 133 | €10,114 | €10,114 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€391,595 | -€393,165 | -€1,570 | -0.4% |
| Amounts payable | 17/49 | €497,097 | €477,738 | -€19,359 | -3.9% |
| Amounts payable after more than one year | 17 | €391,141 | €361,141 | -€30,000 | -7.7% |
| Financial debts | 170/4 | €391,141 | €361,141 | -€30,000 | -7.7% |
| Amounts payable within one year | 42/48 | €105,956 | €116,597 | +€10,641 | +10.0% |
| Trade debts | 44 | €362 | €2,814 | +€2,451 | +676.3% |
| Suppliers | 440/4 | €362 | €2,814 | +€2,451 | +676.3% |
| Other amounts payable | 47/48 | €105,594 | €113,784 | +€8,190 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,835 | €39,220 | -€2,615 | -6.3% |
| Other operating charges | 640/8 | €10,448 | €12,285 | +€1,837 | +17.6% |
| Gross operating margin | 9900 | €73,761 | €61,449 | -€12,312 | -16.7% |
| Operating profit (loss) | 9901 | €21,478 | €9,944 | -€11,534 | -53.7% |
| Financial income | 75/76B | €315 | €216 | -€99 | -31.5% |
| Recurring financial income | 75 | €315 | €216 | -€99 | -31.5% |
| Financial charges | 65/66B | €12,513 | €11,730 | -€783 | -6.3% |
| Recurring financial charges | 65 | €12,513 | €11,730 | -€783 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €9,281 | -€1,570 | -€10,851 | |
| Profit (loss) for the period | 9904 | €9,281 | -€1,570 | -€10,851 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,281 | -€1,570 | -€10,851 |
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.