NESCO: what changed
Two fiscal 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.
NESCO
Largest movements
- Stocks and contracts -€259,130
down €259,130 (-42.4%), from €610,537 to €351,407
- Receivables within one year +€85,533
up €85,533 (+109.0%), from €78,457 to €163,990
of which Trade receivables: +€107,302
- Tangible fixed assets -€29,748
down €29,748 (-7.2%), from €414,105 to €384,358
of which Land and buildings: -€28,235
- Cash -€25,759
down €25,759 (-87.9%), from €29,293 to €3,534
mainly Short-term financial debts (-€222,000) and Receivables within one year (-€85,533)
- Intangible fixed assets -€12,000
down €12,000 (-28.6%), from €42,000 to €30,000
- Short-term financial debts -€222,000
down €222,000 (-77.4%), from €287,000 to €65,000
- Trade debts +€52,641
up €52,641 (+89.6%), from €58,727 to €111,369
- Debts after one year -€51,429
down €51,429 (-12.4%), from €413,854 to €362,426
- Tax, wage and social debts -€21,113
down €21,113 (-46.6%), from €45,328 to €24,216
of which Taxes: -€18,315
- Gross operating margin +€27,730
up €27,730 (+29.2%), from €94,820 to €122,550
- Financial charges -€15,595
down €15,595 (-40.4%), from €38,617 to €23,023
- Financial income -€1,826
down €1,826 (-65.7%), from €2,779 to €953
- Other operating charges +€1,499
up €1,499 (+17.8%), from €8,397 to €9,895
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.
Cash bridge derived
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 | €1,180,205 | €935,575 | -€244,629 | -20.7% |
| Fixed assets | 21/28 | €456,205 | €414,358 | -€41,848 | -9.2% |
| Intangible fixed assets | 21 | €42,000 | €30,000 | -€12,000 | -28.6% |
| Tangible fixed assets | 22/27 | €414,105 | €384,358 | -€29,748 | -7.2% |
| Land and buildings | 22 | €410,082 | €381,847 | -€28,235 | -6.9% |
| Plant, machinery and equipment | 23 | €1,016 | €726 | -€290 | -28.5% |
| Furniture and vehicles | 24 | €3,007 | €1,785 | -€1,223 | -40.7% |
| Financial fixed assets | 28 | €100 | €0 | -€100 | -100.0% |
| Current assets | 29/58 | €724,000 | €521,218 | -€202,782 | -28.0% |
| Stocks and contracts in progress | 3 | €610,537 | €351,407 | -€259,130 | -42.4% |
| Stocks | 30/36 | €610,537 | €351,407 | -€259,130 | -42.4% |
| Amounts receivable within one year | 40/41 | €78,457 | €163,990 | +€85,533 | +109.0% |
| Trade receivables | 40 | €44,561 | €151,863 | +€107,302 | +240.8% |
| Other amounts receivable | 41 | €33,896 | €12,127 | -€21,769 | -64.2% |
| Cash at bank and in hand | 54/58 | €29,293 | €3,534 | -€25,759 | -87.9% |
| Deferred charges and accrued income | 490/1 | €5,713 | €2,287 | -€3,426 | -60.0% |
| Total equity and liabilities | 10/49 | €1,180,205 | €935,575 | -€244,629 | -20.7% |
| Equity | 10/15 | €310,393 | €316,479 | +€6,086 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €352,901 | €352,901 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,505 | €16,505 | = | 0.0% |
| Distributable reserves | 133 | €336,396 | €336,396 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€61,108 | -€55,022 | +€6,086 | +10.0% |
| Amounts payable | 17/49 | €869,812 | €619,096 | -€250,716 | -28.8% |
| Amounts payable after more than one year | 17 | €413,854 | €362,426 | -€51,429 | -12.4% |
| Financial debts | 170/4 | €413,854 | €362,426 | -€51,429 | -12.4% |
| Amounts payable within one year | 42/48 | €443,600 | €252,013 | -€191,587 | -43.2% |
| Current portion of amounts payable after more than one year | 42 | €51,335 | €51,429 | +€94 | +0.2% |
| Financial debts | 43 | €287,000 | €65,000 | -€222,000 | -77.4% |
| Credit institutions | 430/8 | €287,000 | €65,000 | -€222,000 | -77.4% |
| Trade debts | 44 | €58,727 | €111,369 | +€52,641 | +89.6% |
| Suppliers | 440/4 | €58,727 | €111,369 | +€52,641 | +89.6% |
| Taxes, remuneration and social security | 45 | €45,328 | €24,216 | -€21,113 | -46.6% |
| Taxes | 450/3 | €34,497 | €16,182 | -€18,315 | -53.1% |
| Remuneration and social security | 454/9 | €10,831 | €8,033 | -€2,798 | -25.8% |
| Other amounts payable | 47/48 | €1,210 | €0 | -€1,210 | -100.0% |
| Accrued charges and deferred income | 492/3 | €12,358 | €4,657 | -€7,700 | -62.3% |
| Remuneration, social security and pensions | 62 | €44,132 | €43,600 | -€532 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,370 | €41,748 | +€377 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,062 | -€1,062 | |
| Other operating charges | 640/8 | €8,397 | €9,895 | +€1,499 | +17.8% |
| Non-recurring operating charges | 66A | €22,197 | €0 | -€22,197 | -100.0% |
| Gross operating margin | 9900 | €94,820 | €122,550 | +€27,730 | +29.2% |
| Operating profit (loss) | 9901 | -€21,274 | €28,369 | +€49,644 | |
| Financial income | 75/76B | €2,779 | €953 | -€1,826 | -65.7% |
| Recurring financial income | 75 | €2,779 | €953 | -€1,826 | -65.7% |
| Financial charges | 65/66B | €38,617 | €23,023 | -€15,595 | -40.4% |
| Recurring financial charges | 65 | €38,617 | €23,023 | -€15,595 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | -€57,113 | €6,300 | +€63,412 | |
| Income taxes | 67/77 | -€15 | €213 | +€229 | |
| Profit (loss) for the period | 9904 | -€57,097 | €6,086 | +€63,184 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57,097 | €6,086 | +€63,184 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.