NeSaS: 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.
NeSaS
Largest movements
- Tangible fixed assets +€183,128
up €183,128 (+1,704%), from €10,750 to €193,878
of which Land and buildings: +€186,322
- Receivables within one year +€9,888
up €9,888 (+20.9%), from €47,304 to €57,193
of which Trade receivables: +€16,194
- Debts after one year +€109,771
up €109,771, from €0 to €109,771
- Trade debts +€44,158
up €44,158 (+596%), from €7,414 to €51,572
- Other debts +€25,652
up €25,652 (+2,200%), from €1,166 to €26,819
- Current portion of long-term debt +€9,949
up €9,949, from €0 to €9,949
- Reserves +€3,614
up €3,614 (+5.7%), from €63,087 to €66,701
- Gross operating margin -€52,554
down €52,554 (-51.2%), from €102,618 to €50,063
- Other operating charges +€22,774
up €22,774 (+1,293%), from €1,762 to €24,535
- Taxes -€17,836
down €17,836 (-74.3%), from €23,995 to €6,159
- Financial charges -€6,450
down €6,450 (-39.2%), from €16,437 to €9,987
- Depreciation +€3,600
up €3,600 (+683%), from €527 to €4,128
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 | €124,940 | €314,804 | +€189,865 | +152% |
| Fixed assets | 21/28 | €10,900 | €194,028 | +€183,128 | +1,680% |
| Tangible fixed assets | 22/27 | €10,750 | €193,878 | +€183,128 | +1,704% |
| Land and buildings | 22 | €0 | €186,322 | +€186,322 | |
| Plant, machinery and equipment | 23 | €2,283 | €4,224 | +€1,941 | +85.0% |
| Furniture and vehicles | 24 | €8,466 | €3,332 | -€5,134 | -60.6% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €114,040 | €120,776 | +€6,736 | +5.9% |
| Amounts receivable within one year | 40/41 | €47,304 | €57,193 | +€9,888 | +20.9% |
| Trade receivables | 40 | €40,588 | €56,781 | +€16,194 | +39.9% |
| Other amounts receivable | 41 | €6,717 | €412 | -€6,305 | -93.9% |
| Cash at bank and in hand | 54/58 | €65,623 | €63,442 | -€2,181 | -3.3% |
| Deferred charges and accrued income | 490/1 | €1,113 | €142 | -€971 | -87.3% |
| Total equity and liabilities | 10/49 | €124,940 | €314,804 | +€189,865 | +152% |
| Equity | 10/15 | €66,087 | €69,701 | +€3,614 | +5.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €63,087 | €66,701 | +€3,614 | +5.7% |
| Distributable reserves | 133 | €63,087 | €66,701 | +€3,614 | +5.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €58,852 | €245,103 | +€186,251 | +316% |
| Amounts payable after more than one year | 17 | €0 | €109,771 | +€109,771 | |
| Financial debts | 170/4 | €0 | €109,771 | +€109,771 | |
| Amounts payable within one year | 42/48 | €58,852 | €135,332 | +€76,480 | +130% |
| Current portion of amounts payable after more than one year | 42 | €0 | €9,949 | +€9,949 | |
| Trade debts | 44 | €7,414 | €51,572 | +€44,158 | +596% |
| Suppliers | 440/4 | €7,414 | €51,572 | +€44,158 | +596% |
| Taxes, remuneration and social security | 45 | €50,272 | €46,993 | -€3,279 | -6.5% |
| Taxes | 450/3 | €50,272 | €45,493 | -€4,779 | -9.5% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Other amounts payable | 47/48 | €1,166 | €26,819 | +€25,652 | +2,200% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €527 | €4,128 | +€3,600 | +683% |
| Other operating charges | 640/8 | €1,762 | €24,535 | +€22,774 | +1,293% |
| Gross operating margin | 9900 | €102,618 | €50,063 | -€52,554 | -51.2% |
| Operating profit (loss) | 9901 | €100,329 | €21,400 | -€78,928 | -78.7% |
| Financial income | 75/76B | €375 | €26 | -€349 | -93.1% |
| Recurring financial income | 75 | €375 | €26 | -€349 | -93.1% |
| Financial charges | 65/66B | €16,437 | €9,987 | -€6,450 | -39.2% |
| Recurring financial charges | 65 | €16,437 | €9,987 | -€6,450 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €84,267 | €11,439 | -€72,828 | -86.4% |
| Income taxes | 67/77 | €23,995 | €6,159 | -€17,836 | -74.3% |
| Profit (loss) for the period | 9904 | €60,272 | €5,280 | -€54,992 | -91.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,272 | €5,280 | -€54,992 | -91.2% |
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 30 October 2026 via checked.be.