NELWIN: 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.
NELWIN
Largest movements
- Tangible fixed assets -€6,699
no longer reported in 2025 (was €6,699)
of which Plant, machinery and equipment: -€4,866
- Cash +€3,742
up €3,742 (+260.1%), from €1,438 to €5,180
mainly Investment in fixed assets (net) (+€4,866) and Depreciation (+€1,833)
- Receivables within one year -€1,506
down €1,506 (-98.0%), from €1,536 to €31
of which Trade receivables: -€1,513
- Other debts -€4,005
down €4,005 (-15.2%), from €26,378 to €22,373
- Profit (loss) carried forward -€1,994
down €1,994 (-3.3%), from -€59,722 to -€61,716
- Tax, wage and social debts +€793
up €793 (+185.0%), from €428 to €1,221
- Trade debts +€744
up €744 (+126.2%), from €589 to €1,333
- Gross operating margin +€3,098
up €3,098 (+122.4%), from €2,531 to €5,629
- Depreciation +€471
up €471 (+34.6%), from €1,362 to €1,833
- Other operating charges +€413
new in 2025: €413
- Financial charges +€85
up €85 (+103.3%), from €82 to €167
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 | €9,673 | €5,210 | -€4,463 | -46.1% |
| Fixed assets | 21/28 | €6,699 | - | -€6,699 | |
| Tangible fixed assets | 22/27 | €6,699 | - | -€6,699 | |
| Land and buildings | 22 | €1,833 | - | -€1,833 | |
| Plant, machinery and equipment | 23 | €4,866 | - | -€4,866 | |
| Current assets | 29/58 | €2,975 | €5,210 | +€2,236 | +75.2% |
| Amounts receivable within one year | 40/41 | €1,536 | €31 | -€1,506 | -98.0% |
| Trade receivables | 40 | €1,513 | - | -€1,513 | |
| Other amounts receivable | 41 | €24 | €31 | +€7 | +28.4% |
| Cash at bank and in hand | 54/58 | €1,438 | €5,180 | +€3,742 | +260.1% |
| Total equity and liabilities | 10/49 | €9,673 | €5,210 | -€4,463 | -46.1% |
| Equity | 10/15 | -€17,722 | -€19,716 | -€1,994 | -11.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Outside capital | 11 | €40,000 | - | -€40,000 | |
| Other | 1109/19 | €40,000 | - | -€40,000 | |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,722 | -€61,716 | -€1,994 | -3.3% |
| Amounts payable | 17/49 | €27,395 | €24,927 | -€2,469 | -9.0% |
| Amounts payable within one year | 42/48 | €27,395 | €24,927 | -€2,469 | -9.0% |
| Trade debts | 44 | €589 | €1,333 | +€744 | +126.2% |
| Suppliers | 440/4 | €589 | €1,333 | +€744 | +126.2% |
| Taxes, remuneration and social security | 45 | €428 | €1,221 | +€793 | +185.0% |
| Taxes | 450/3 | €428 | €1,221 | +€793 | +185.0% |
| Other amounts payable | 47/48 | €26,378 | €22,373 | -€4,005 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,362 | €1,833 | +€471 | +34.6% |
| Other operating charges | 640/8 | - | €413 | +€413 | |
| Non-recurring operating charges | 66A | €1,386 | €5,211 | +€3,825 | +276.0% |
| Gross operating margin | 9900 | €2,531 | €5,629 | +€3,098 | +122.4% |
| Operating profit (loss) | 9901 | -€217 | -€1,827 | -€1,610 | -741.6% |
| Financial charges | 65/66B | €82 | €167 | +€85 | +103.3% |
| Recurring financial charges | 65 | €82 | €167 | +€85 | +103.3% |
| Profit (loss) for the period before taxes | 9903 | -€299 | -€1,994 | -€1,695 | -566.0% |
| Profit (loss) for the period | 9904 | -€299 | -€1,994 | -€1,695 | -566.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€299 | -€1,994 | -€1,695 | -566.0% |
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 2 October 2026 via checked.be.