Nephology: 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.
Nephology
Largest movements
- Current investments +€99,077
new in 2025: €99,077
- Cash -€71,433
down €71,433 (-75.7%), from €94,390 to €22,958
mainly Contributions, distributions and other (-€183,875) and Current investments (-€99,077)
- Receivables within one year +€60,062
up €60,062 (+466%), from €12,891 to €72,953
of which Trade receivables: +€72,953
- Tax, wage and social debts +€40,558
up €40,558 (+460%), from €8,817 to €49,374
- Other debts +€30,622
up €30,622 (+232%), from €13,226 to €43,848
- Reserves +€15,051
up €15,051 (+20.4%), from €73,875 to €88,926
- Trade debts +€3,036
up €3,036 (+245%), from €1,239 to €4,275
- Gross operating margin +€164,537
up €164,537 (+150%), from €110,006 to €274,543
- Taxes +€42,380
up €42,380 (+155%), from €27,294 to €69,674
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 | €115,896 | €205,385 | +€89,488 | +77.2% |
| Fixed assets | 21/28 | €7,913 | €8,663 | +€751 | +9.5% |
| Tangible fixed assets | 22/27 | €7,913 | €8,663 | +€751 | +9.5% |
| Plant, machinery and equipment | 23 | €5,143 | €3,441 | -€1,701 | -33.1% |
| Furniture and vehicles | 24 | €2,770 | €5,222 | +€2,452 | +88.5% |
| Current assets | 29/58 | €107,984 | €196,721 | +€88,738 | +82.2% |
| Amounts receivable within one year | 40/41 | €12,891 | €72,953 | +€60,062 | +466% |
| Trade receivables | 40 | - | €72,953 | +€72,953 | |
| Other amounts receivable | 41 | €12,891 | - | -€12,891 | |
| Current investments | 50/53 | - | €99,077 | +€99,077 | |
| Cash at bank and in hand | 54/58 | €94,390 | €22,958 | -€71,433 | -75.7% |
| Deferred charges and accrued income | 490/1 | €702 | €1,734 | +€1,031 | +147% |
| Total equity and liabilities | 10/49 | €115,896 | €205,385 | +€89,488 | +77.2% |
| Equity | 10/15 | €92,475 | €107,526 | +€15,051 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,875 | €88,926 | +€15,051 | +20.4% |
| Distributable reserves | 133 | €73,875 | €88,926 | +€15,051 | +20.4% |
| Amounts payable | 17/49 | €23,421 | €97,859 | +€74,438 | +318% |
| Amounts payable within one year | 42/48 | €23,421 | €97,859 | +€74,438 | +318% |
| Financial debts | 43 | €140 | €361 | +€222 | +159% |
| Credit institutions | 430/8 | €140 | €361 | +€222 | +159% |
| Trade debts | 44 | €1,239 | €4,275 | +€3,036 | +245% |
| Suppliers | 440/4 | €1,239 | €4,275 | +€3,036 | +245% |
| Taxes, remuneration and social security | 45 | €8,817 | €49,374 | +€40,558 | +460% |
| Taxes | 450/3 | €8,817 | €49,374 | +€40,558 | +460% |
| Other amounts payable | 47/48 | €13,226 | €43,848 | +€30,622 | +232% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,276 | €5,448 | -€828 | -13.2% |
| Other operating charges | 640/8 | €1,139 | €1,057 | -€82 | -7.2% |
| Gross operating margin | 9900 | €110,006 | €274,543 | +€164,537 | +150% |
| Operating profit (loss) | 9901 | €102,591 | €268,038 | +€165,447 | +161% |
| Financial income | 75/76B | €350 | €1,095 | +€745 | +213% |
| Recurring financial income | 75 | €350 | €1,095 | +€745 | +213% |
| Financial charges | 65/66B | €1,772 | €533 | -€1,239 | -69.9% |
| Recurring financial charges | 65 | €1,772 | €533 | -€1,239 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €101,169 | €268,600 | +€167,431 | +165% |
| Income taxes | 67/77 | €27,294 | €69,674 | +€42,380 | +155% |
| Profit (loss) for the period | 9904 | €73,875 | €198,926 | +€125,051 | +169% |
| Profit (loss) for the period to be appropriated | 9905 | €73,875 | €198,926 | +€125,051 | +169% |
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 14 October 2026 via checked.be.