NEMESIS: 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.
NEMESIS
Largest movements
- Receivables within one year -€75,000
no longer reported in 2025 (was €75,000)
- Cash +€22,641
up €22,641 (+375.6%), from €6,028 to €28,669
mainly Receivables within one year (+€75,000) and Depreciation (+€9,453)
- Tangible fixed assets -€7,937
down €7,937 (-9.8%), from €80,648 to €72,711
of which Other tangible fixed assets: -€5,668
- Other debts -€43,236
down €43,236 (-55.3%), from €78,222 to €34,986
- Profit (loss) carried forward -€18,577
down €18,577 (-11.4%), from -€163,644 to -€182,221
- Gross operating margin -€1,521
down €1,521 (-31.1%), from -€4,895 to -€6,416
- Other operating charges -€1,204
down €1,204 (-23.2%), from €5,186 to €3,982
- Depreciation +€183
up €183 (+2.0%), from €9,270 to €9,453
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 | €162,988 | €101,380 | -€61,608 | -37.8% |
| Fixed assets | 21/28 | €80,648 | €72,711 | -€7,937 | -9.8% |
| Tangible fixed assets | 22/27 | €80,648 | €72,711 | -€7,937 | -9.8% |
| Land and buildings | 22 | €49,476 | €47,207 | -€2,269 | -4.6% |
| Other tangible fixed assets | 26 | €31,172 | €25,504 | -€5,668 | -18.2% |
| Current assets | 29/58 | €82,340 | €28,669 | -€53,671 | -65.2% |
| Amounts receivable within one year | 40/41 | €75,000 | - | -€75,000 | |
| Other amounts receivable | 41 | €75,000 | - | -€75,000 | |
| Cash at bank and in hand | 54/58 | €6,028 | €28,669 | +€22,641 | +375.6% |
| Deferred charges and accrued income | 490/1 | €1,312 | - | -€1,312 | |
| Total equity and liabilities | 10/49 | €162,988 | €101,380 | -€61,608 | -37.8% |
| Equity | 10/15 | -€37,631 | -€56,208 | -€18,577 | -49.4% |
| Contributions | 10/11 | €95,000 | €95,000 | = | 0.0% |
| Revaluation surpluses | 12 | €31,013 | €31,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€163,644 | -€182,221 | -€18,577 | -11.4% |
| Amounts payable | 17/49 | €200,619 | €157,588 | -€43,031 | -21.4% |
| Amounts payable after more than one year | 17 | €120,000 | €120,000 | = | 0.0% |
| Other amounts payable | 178/9 | €120,000 | €120,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,441 | €35,064 | -€43,377 | -55.3% |
| Trade debts | 44 | €219 | €78 | -€141 | -64.4% |
| Suppliers | 440/4 | €219 | €78 | -€141 | -64.4% |
| Other amounts payable | 47/48 | €78,222 | €34,986 | -€43,236 | -55.3% |
| Accrued charges and deferred income | 492/3 | €2,178 | €2,524 | +€346 | +15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,270 | €9,453 | +€183 | +2.0% |
| Other operating charges | 640/8 | €5,186 | €3,982 | -€1,204 | -23.2% |
| Gross operating margin | 9900 | -€4,895 | -€6,416 | -€1,521 | -31.1% |
| Operating profit (loss) | 9901 | -€19,351 | -€19,851 | -€500 | -2.6% |
| Financial income | 75/76B | €1,313 | €1,313 | = | 0.0% |
| Recurring financial income | 75 | €1,313 | €1,313 | = | 0.0% |
| Financial charges | 65/66B | €38 | €38 | = | 0.0% |
| Recurring financial charges | 65 | €38 | €38 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€18,076 | -€18,576 | -€500 | -2.8% |
| Profit (loss) for the period | 9904 | -€18,076 | -€18,576 | -€500 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,076 | -€18,576 | -€500 | -2.8% |
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 4 October 2026 via checked.be.