NELZAK: 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.
NELZAK
Largest movements
- Cash +€42,972
up €42,972 (+82.1%), from €52,320 to €95,292
mainly Net result for the year (+€22,727) and Tax, wage and social debts (+€19,023)
- Profit (loss) carried forward +€22,727
up €22,727 (+25.0%), from €90,837 to €113,563
- Tax, wage and social debts +€19,023
up €19,023 (+246%), from €7,725 to €26,748
of which Remuneration and social security: +€12,290
- Gross operating margin +€32,760
up €32,760 (+72.9%), from €44,943 to €77,703
- Taxes +€18,440
up €18,440 (+458%), from €4,030 to €22,470
- Other operating charges +€6,569
up €6,569 (+306%), from €2,148 to €8,717
- Staff costs +€1,401
up €1,401 (+7.6%), from €18,377 to €19,778
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 | €125,759 | €167,956 | +€42,197 | +33.6% |
| Fixed assets | 21/28 | €5,824 | €6,019 | +€195 | +3.3% |
| Tangible fixed assets | 22/27 | €5,824 | €6,019 | +€195 | +3.3% |
| Furniture and vehicles | 24 | €3,224 | €4,419 | +€1,195 | +37.1% |
| Leasing and similar rights | 25 | €2,600 | €1,600 | -€1,000 | -38.5% |
| Current assets | 29/58 | €119,935 | €161,937 | +€42,002 | +35.0% |
| Amounts receivable within one year | 40/41 | €67,615 | €66,645 | -€970 | -1.4% |
| Trade receivables | 40 | €11,186 | €14,706 | +€3,520 | +31.5% |
| Other amounts receivable | 41 | €56,429 | €51,939 | -€4,490 | -8.0% |
| Cash at bank and in hand | 54/58 | €52,320 | €95,292 | +€42,972 | +82.1% |
| Total equity and liabilities | 10/49 | €125,759 | €167,956 | +€42,197 | +33.6% |
| Equity | 10/15 | €97,837 | €120,563 | +€22,727 | +23.2% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,837 | €113,563 | +€22,727 | +25.0% |
| Amounts payable | 17/49 | €27,922 | €47,392 | +€19,470 | +69.7% |
| Amounts payable within one year | 42/48 | €27,922 | €47,392 | +€19,470 | +69.7% |
| Trade debts | 44 | €15,523 | €15,982 | +€459 | +3.0% |
| Suppliers | 440/4 | €15,523 | €15,982 | +€459 | +3.0% |
| Taxes, remuneration and social security | 45 | €7,725 | €26,748 | +€19,023 | +246% |
| Taxes | 450/3 | €2,963 | €9,696 | +€6,732 | +227% |
| Remuneration and social security | 454/9 | €4,762 | €17,052 | +€12,290 | +258% |
| Other amounts payable | 47/48 | €4,674 | €4,662 | -€11 | -0.2% |
| Remuneration, social security and pensions | 62 | €18,377 | €19,778 | +€1,401 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,524 | €3,524 | = | 0.0% |
| Other operating charges | 640/8 | €2,148 | €8,717 | +€6,569 | +306% |
| Gross operating margin | 9900 | €44,943 | €77,703 | +€32,760 | +72.9% |
| Operating profit (loss) | 9901 | €20,895 | €45,684 | +€24,789 | +119% |
| Financial income | 75/76B | €0 | €0 | -€0 | -51.5% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -51.5% |
| Financial charges | 65/66B | €53 | €488 | +€435 | +827% |
| Recurring financial charges | 65 | €53 | €488 | +€435 | +827% |
| Profit (loss) for the period before taxes | 9903 | €20,843 | €45,197 | +€24,354 | +117% |
| Income taxes | 67/77 | €4,030 | €22,470 | +€18,440 | +458% |
| Profit (loss) for the period | 9904 | €16,813 | €22,727 | +€5,914 | +35.2% |
| Profit (loss) for the period to be appropriated | 9905 | €16,813 | €22,727 | +€5,914 | +35.2% |
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 18 October 2026 via checked.be.