NEPHELI: 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.
NEPHELI
Largest movements
- Receivables within one year +€27,272
up €27,272 (+149%), from €18,271 to €45,543
of which Trade receivables: +€24,455
- Cash +€10,179
up €10,179 (+33.0%), from €30,823 to €41,002
mainly Net result for the year (+€24,301) and Trade debts (+€7,953)
- Tangible fixed assets +€996
up €996 (+163%), from €610 to €1,606
- Profit (loss) carried forward +€17,948
up €17,948 (+61.7%), from €29,103 to €47,051
- Trade debts +€7,953
up €7,953 (+66,274%), from €12 to €7,965
- Tax, wage and social debts +€5,695
up €5,695 (+33.1%), from €17,221 to €22,916
of which Taxes: +€3,395
- Other debts +€5,527
up €5,527 (+664%), from €833 to €6,360
- Accrued charges and deferred income +€2,010
new in 2025: €2,010
- Gross operating margin -€7,127
down €7,127 (-18.3%), from €38,979 to €31,851
- Taxes -€1,729
down €1,729 (-21.6%), from €8,017 to €6,288
- Financial charges +€772
up €772 (+846%), from €91 to €863
- Depreciation -€460
down €460 (-49.2%), from €935 to €475
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 | €49,703 | €88,328 | +€38,625 | +77.7% |
| Fixed assets | 21/28 | €610 | €1,606 | +€996 | +163% |
| Tangible fixed assets | 22/27 | €610 | €1,606 | +€996 | +163% |
| Furniture and vehicles | 24 | €610 | €1,606 | +€996 | +163% |
| Current assets | 29/58 | €49,094 | €86,722 | +€37,628 | +76.6% |
| Amounts receivable within one year | 40/41 | €18,271 | €45,543 | +€27,272 | +149% |
| Trade receivables | 40 | €15,270 | €39,725 | +€24,455 | +160% |
| Other amounts receivable | 41 | €3,001 | €5,818 | +€2,818 | +93.9% |
| Cash at bank and in hand | 54/58 | €30,823 | €41,002 | +€10,179 | +33.0% |
| Deferred charges and accrued income | 490/1 | - | €177 | +€177 | |
| Total equity and liabilities | 10/49 | €49,703 | €88,328 | +€38,625 | +77.7% |
| Equity | 10/15 | €31,103 | €49,051 | +€17,948 | +57.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,103 | €47,051 | +€17,948 | +61.7% |
| Amounts payable | 17/49 | €18,601 | €39,277 | +€20,676 | +111% |
| Amounts payable within one year | 42/48 | €18,601 | €37,267 | +€18,666 | +100% |
| Financial debts | 43 | €535 | €26 | -€509 | -95.1% |
| Credit institutions | 430/8 | €535 | €26 | -€509 | -95.1% |
| Trade debts | 44 | €12 | €7,965 | +€7,953 | +66,274% |
| Suppliers | 440/4 | €12 | €7,965 | +€7,953 | +66,274% |
| Taxes, remuneration and social security | 45 | €17,221 | €22,916 | +€5,695 | +33.1% |
| Taxes | 450/3 | €17,221 | €20,616 | +€3,395 | +19.7% |
| Remuneration and social security | 454/9 | - | €2,300 | +€2,300 | |
| Other amounts payable | 47/48 | €833 | €6,360 | +€5,527 | +664% |
| Accrued charges and deferred income | 492/3 | - | €2,010 | +€2,010 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €935 | €475 | -€460 | -49.2% |
| Other operating charges | 640/8 | - | €180 | +€180 | |
| Gross operating margin | 9900 | €38,979 | €31,851 | -€7,127 | -18.3% |
| Operating profit (loss) | 9901 | €38,044 | €31,196 | -€6,847 | -18.0% |
| Financial income | 75/76B | - | €256 | +€256 | |
| Recurring financial income | 75 | - | €256 | +€256 | |
| Financial charges | 65/66B | €91 | €863 | +€772 | +846% |
| Recurring financial charges | 65 | €91 | €863 | +€772 | +846% |
| Profit (loss) for the period before taxes | 9903 | €37,952 | €30,589 | -€7,364 | -19.4% |
| Income taxes | 67/77 | €8,017 | €6,288 | -€1,729 | -21.6% |
| Profit (loss) for the period | 9904 | €29,936 | €24,301 | -€5,634 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29,936 | €24,301 | -€5,634 | -18.8% |
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 29 October 2026 via checked.be.