Nervus Rerum: 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.
Nervus Rerum
Largest movements
- Receivables within one year -€24,310
down €24,310 (-46.3%), from €52,471 to €28,161
of which Other amounts receivable: -€22,466
- Other debts +€134,805
up €134,805 (+92.2%), from €146,188 to €280,994
- Reserves -€99,244
down €99,244 (-9.4%), from €1.1m to €957,235
of which Distributable reserves: -€99,244
- Debts after one year -€53,569
down €53,569 (-10.2%), from €527,641 to €474,072
- Gross operating margin -€825,178
down €825,178 (-94.6%), from €872,259 to €47,081
- Taxes -€106,605
down €106,605 (-99.8%), from €106,855 to €250
- Financial income -€33,001
no longer reported in 2025 (was €33,001)
- Financial charges -€27,644
down €27,644 (-47.3%), from €58,472 to €30,828
- Depreciation -€20,763
down €20,763 (-16.8%), from €123,400 to €102,636
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 | €1,907,912 | €1,876,416 | -€31,497 | -1.7% |
| Fixed assets | 21/28 | €1,846,043 | €1,836,887 | -€9,156 | -0.5% |
| Tangible fixed assets | 22/27 | €1,846,043 | €1,836,887 | -€9,156 | -0.5% |
| Land and buildings | 22 | €1,743,538 | €1,721,220 | -€22,318 | -1.3% |
| Plant, machinery and equipment | 23 | €11,789 | €9,376 | -€2,413 | -20.5% |
| Furniture and vehicles | 24 | €90,716 | €106,291 | +€15,575 | +17.2% |
| Current assets | 29/58 | €61,870 | €39,529 | -€22,341 | -36.1% |
| Amounts receivable within one year | 40/41 | €52,471 | €28,161 | -€24,310 | -46.3% |
| Trade receivables | 40 | €13,812 | €11,968 | -€1,844 | -13.3% |
| Other amounts receivable | 41 | €38,659 | €16,193 | -€22,466 | -58.1% |
| Cash at bank and in hand | 54/58 | €3,682 | €5,274 | +€1,592 | +43.2% |
| Deferred charges and accrued income | 490/1 | €5,717 | €6,094 | +€377 | +6.6% |
| Total equity and liabilities | 10/49 | €1,907,912 | €1,876,416 | -€31,497 | -1.7% |
| Equity | 10/15 | €1,106,480 | €1,007,235 | -€99,244 | -9.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,056,480 | €957,235 | -€99,244 | -9.4% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €61,467 | €61,467 | = | 0.0% |
| Distributable reserves | 133 | €990,013 | €890,768 | -€99,244 | -10.0% |
| Amounts payable | 17/49 | €801,432 | €869,180 | +€67,748 | +8.5% |
| Amounts payable after more than one year | 17 | €527,641 | €474,072 | -€53,569 | -10.2% |
| Financial debts | 170/4 | €527,641 | €474,072 | -€53,569 | -10.2% |
| Amounts payable within one year | 42/48 | €273,791 | €395,108 | +€121,317 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €51,370 | €53,569 | +€2,199 | +4.3% |
| Trade debts | 44 | €17,508 | €11,619 | -€5,889 | -33.6% |
| Suppliers | 440/4 | €17,508 | €11,619 | -€5,889 | -33.6% |
| Advances received on contracts in progress | 46 | €595 | - | -€595 | |
| Taxes, remuneration and social security | 45 | €58,130 | €48,926 | -€9,204 | -15.8% |
| Taxes | 450/3 | €58,130 | €48,926 | -€9,204 | -15.8% |
| Other amounts payable | 47/48 | €146,188 | €280,994 | +€134,805 | +92.2% |
| Non-recurring operating income | 76A | €822,500 | - | -€822,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,400 | €102,636 | -€20,763 | -16.8% |
| Other operating charges | 640/8 | €12,504 | €12,611 | +€107 | +0.9% |
| Gross operating margin | 9900 | €872,259 | €47,081 | -€825,178 | -94.6% |
| Operating profit (loss) | 9901 | €736,355 | -€68,166 | -€804,522 | |
| Financial income | 75/76B | €33,001 | - | -€33,001 | |
| Recurring financial income | 75 | €33,001 | - | -€33,001 | |
| Financial charges | 65/66B | €58,472 | €30,828 | -€27,644 | -47.3% |
| Recurring financial charges | 65 | €58,472 | €30,828 | -€27,644 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | €710,884 | -€98,995 | -€809,878 | |
| Income taxes | 67/77 | €106,855 | €250 | -€106,605 | -99.8% |
| Profit (loss) for the period | 9904 | €604,029 | -€99,244 | -€703,273 | |
| Profit (loss) for the period to be appropriated | 9905 | €604,029 | -€99,244 | -€703,273 |
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 24 October 2026 via checked.be.