NESAM: what changed
NESAM
Largest movements
- Cash -€62,887
down €62,887 (-41.5%), from €151,427 to €88,540
mainly Receivables within one year (-€55,340) and Contributions, distributions and other (-€31,797)
- Receivables within one year +€55,340
up €55,340 (+314%), from €17,610 to €72,950
of which Other amounts receivable: +€54,514
- Deferred charges and accrued income +€1,991
up €1,991 (+124%), from €1,604 to €3,595
- Reserves -€33,228
down €33,228 (-24.5%), from €135,423 to €102,195
- Other debts +€31,797
new in 2025: €31,797
- Tax, wage and social debts -€2,814
down €2,814 (-9.6%), from €29,165 to €26,351
of which Taxes: -€3,187
- Gross operating margin -€17,011
down €17,011 (-19.0%), from €89,497 to €72,486
- Staff costs +€2,915
up €2,915 (+4.4%), from €66,190 to €69,105
- Taxes -€2,675
down €2,675 (-61.1%), from €4,377 to €1,702
- Depreciation -€2,319
down €2,319 (-44.3%), from €5,240 to €2,921
- Financial income +€1,550
up €1,550 (+1,476%), from €105 to €1,655
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,395 | €172,566 | -€4,829 | -2.7% |
| Fixed assets | 21/28 | €6,754 | €7,481 | +€727 | +10.8% |
| Tangible fixed assets | 22/27 | €4,061 | €4,788 | +€727 | +17.9% |
| Furniture and vehicles | 24 | €4,061 | €4,788 | +€727 | +17.9% |
| Financial fixed assets | 28 | €2,693 | €2,693 | = | 0.0% |
| Current assets | 29/58 | €170,641 | €165,085 | -€5,556 | -3.3% |
| Amounts receivable within one year | 40/41 | €17,610 | €72,950 | +€55,340 | +314% |
| Trade receivables | 40 | €15,436 | €16,262 | +€826 | +5.4% |
| Other amounts receivable | 41 | €2,174 | €56,688 | +€54,514 | +2,508% |
| Cash at bank and in hand | 54/58 | €151,427 | €88,540 | -€62,887 | -41.5% |
| Deferred charges and accrued income | 490/1 | €1,604 | €3,595 | +€1,991 | +124% |
| Total equity and liabilities | 10/49 | €177,395 | €172,566 | -€4,829 | -2.7% |
| Equity | 10/15 | €141,623 | €108,395 | -€33,228 | -23.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €135,423 | €102,195 | -€33,228 | -24.5% |
| Distributable reserves | 133 | €135,423 | €102,195 | -€33,228 | -24.5% |
| Amounts payable | 17/49 | €35,772 | €64,171 | +€28,399 | +79.4% |
| Amounts payable within one year | 42/48 | €35,705 | €64,171 | +€28,466 | +79.7% |
| Trade debts | 44 | €6,540 | €6,023 | -€517 | -7.9% |
| Suppliers | 440/4 | €6,540 | €6,023 | -€517 | -7.9% |
| Taxes, remuneration and social security | 45 | €29,165 | €26,351 | -€2,814 | -9.6% |
| Taxes | 450/3 | €19,935 | €16,748 | -€3,187 | -16.0% |
| Remuneration and social security | 454/9 | €9,230 | €9,603 | +€373 | +4.0% |
| Other amounts payable | 47/48 | - | €31,797 | +€31,797 | |
| Accrued charges and deferred income | 492/3 | €67 | - | -€67 | |
| Remuneration, social security and pensions | 62 | €66,190 | €69,105 | +€2,915 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,240 | €2,921 | -€2,319 | -44.3% |
| Other operating charges | 640/8 | €1,270 | €400 | -€870 | -68.5% |
| Gross operating margin | 9900 | €89,497 | €72,486 | -€17,011 | -19.0% |
| Operating profit (loss) | 9901 | €16,797 | €60 | -€16,737 | -99.6% |
| Financial income | 75/76B | €105 | €1,655 | +€1,550 | +1,476% |
| Recurring financial income | 75 | €105 | €1,655 | +€1,550 | +1,476% |
| Financial charges | 65/66B | €900 | €1,444 | +€544 | +60.4% |
| Recurring financial charges | 65 | €900 | €1,444 | +€544 | +60.4% |
| Profit (loss) for the period before taxes | 9903 | €16,002 | €271 | -€15,731 | -98.3% |
| Income taxes | 67/77 | €4,377 | €1,702 | -€2,675 | -61.1% |
| Profit (loss) for the period | 9904 | €11,625 | -€1,431 | -€13,056 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,625 | -€1,431 | -€13,056 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.