NESO: 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.
NESO
Largest movements
- Cash -€19,584
down €19,584 (-81.1%), from €24,160 to €4,576
mainly Net result for the year (-€30,225) and Trade debts (-€9,862)
- Receivables within one year -€12,960
down €12,960 (-44.6%), from €29,072 to €16,111
of which Other amounts receivable: -€12,607
- Tangible fixed assets -€8,707
down €8,707 (-27.8%), from €31,275 to €22,568
of which Furniture and vehicles: -€8,347
- Intangible fixed assets -€1,686
down €1,686 (-33.4%), from €5,042 to €3,356
- Profit (loss) carried forward -€30,225
down €30,225 (-53.2%), from €56,784 to €26,559
- Trade debts -€9,862
down €9,862 (-87.4%), from €11,284 to €1,423
- Debts after one year -€3,587
down €3,587 (-38.4%), from €9,335 to €5,747
- Tax, wage and social debts +€1,282
up €1,282 (+11.1%), from €11,558 to €12,840
of which Taxes: +€3,395
- Staff costs +€27,225
up €27,225 (+64.0%), from €42,564 to €69,789
- Taxes +€24,144
up €24,144 (+426.6%), from €5,660 to €29,804
- Gross operating margin +€6,089
up €6,089 (+7.6%), from €80,090 to €86,179
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 | €97,865 | €55,657 | -€42,208 | -43.1% |
| Fixed assets | 21/28 | €36,317 | €25,923 | -€10,393 | -28.6% |
| Intangible fixed assets | 21 | €5,042 | €3,356 | -€1,686 | -33.4% |
| Tangible fixed assets | 22/27 | €31,275 | €22,568 | -€8,707 | -27.8% |
| Plant, machinery and equipment | 23 | €616 | €256 | -€360 | -58.5% |
| Furniture and vehicles | 24 | €30,659 | €22,312 | -€8,347 | -27.2% |
| Current assets | 29/58 | €61,548 | €29,734 | -€31,814 | -51.7% |
| Stocks and contracts in progress | 3 | €7,898 | €8,353 | +€455 | +5.8% |
| Stocks | 30/36 | €7,898 | €8,353 | +€455 | +5.8% |
| Amounts receivable within one year | 40/41 | €29,072 | €16,111 | -€12,960 | -44.6% |
| Trade receivables | 40 | €1,823 | €1,470 | -€353 | -19.4% |
| Other amounts receivable | 41 | €27,249 | €14,641 | -€12,607 | -46.3% |
| Cash at bank and in hand | 54/58 | €24,160 | €4,576 | -€19,584 | -81.1% |
| Deferred charges and accrued income | 490/1 | €419 | €694 | +€275 | +65.8% |
| Total equity and liabilities | 10/49 | €97,865 | €55,657 | -€42,208 | -43.1% |
| Equity | 10/15 | €62,284 | €32,059 | -€30,225 | -48.5% |
| Contributions | 10/11 | €5,500 | €5,500 | = | 0.0% |
| Outside capital | 11 | €5,500 | €5,500 | = | 0.0% |
| Other | 1109/19 | €5,500 | €5,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,784 | €26,559 | -€30,225 | -53.2% |
| Amounts payable | 17/49 | €35,581 | €23,598 | -€11,983 | -33.7% |
| Amounts payable after more than one year | 17 | €9,335 | €5,747 | -€3,587 | -38.4% |
| Financial debts | 170/4 | €9,335 | €5,747 | -€3,587 | -38.4% |
| Amounts payable within one year | 42/48 | €26,246 | €17,850 | -€8,395 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €3,404 | €3,587 | +€184 | +5.4% |
| Trade debts | 44 | €11,284 | €1,423 | -€9,862 | -87.4% |
| Suppliers | 440/4 | €11,284 | €1,423 | -€9,862 | -87.4% |
| Taxes, remuneration and social security | 45 | €11,558 | €12,840 | +€1,282 | +11.1% |
| Taxes | 450/3 | €5,675 | €9,070 | +€3,395 | +59.8% |
| Remuneration and social security | 454/9 | €5,883 | €3,771 | -€2,113 | -35.9% |
| Remuneration, social security and pensions | 62 | €42,564 | €69,789 | +€27,225 | +64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,007 | €13,327 | +€320 | +2.5% |
| Other operating charges | 640/8 | €2,152 | €2,006 | -€145 | -6.7% |
| Gross operating margin | 9900 | €80,090 | €86,179 | +€6,089 | +7.6% |
| Operating profit (loss) | 9901 | €22,367 | €1,056 | -€21,311 | -95.3% |
| Financial income | 75/76B | €648 | €0 | -€648 | -100.0% |
| Recurring financial income | 75 | €648 | €0 | -€648 | -100.0% |
| Financial charges | 65/66B | €2,321 | €1,477 | -€844 | -36.4% |
| Recurring financial charges | 65 | €2,321 | €1,477 | -€844 | -36.4% |
| Profit (loss) for the period before taxes | 9903 | €20,694 | -€421 | -€21,115 | |
| Income taxes | 67/77 | €5,660 | €29,804 | +€24,144 | +426.6% |
| Profit (loss) for the period | 9904 | €15,034 | -€30,225 | -€45,259 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,034 | -€30,225 | -€45,259 |
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 9 October 2026 via checked.be.