NESPA: 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.
NESPA
Largest movements
- Cash +€15,014
up €15,014 (+167%), from €8,964 to €23,979
mainly Net result for the year (+€23,855) and Deferred charges and accrued income (+€2,498)
- Receivables within one year +€4,507
up €4,507 (+41.6%), from €10,830 to €15,337
of which Other amounts receivable: +€6,786
- Deferred charges and accrued income -€2,498
down €2,498 (-23.7%), from €10,558 to €8,061
- Tangible fixed assets +€1,872
up €1,872 (+108%), from €1,732 to €3,604
- Reserves +€23,855
up €23,855 (+139%), from €17,138 to €40,993
- Tax, wage and social debts -€3,466
down €3,466 (-46.5%), from €7,453 to €3,987
- Other debts -€3,217
down €3,217 (-100%), from €3,217 to €0
- Trade debts +€1,723
up €1,723 (+135%), from €1,278 to €3,001
- Gross operating margin +€11,163
up €11,163 (+48.1%), from €23,188 to €34,352
- Taxes +€2,158
up €2,158 (+44.0%), from €4,910 to €7,068
- Depreciation +€722
up €722 (+97.4%), from €741 to €1,463
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 | €32,085 | €50,981 | +€18,896 | +58.9% |
| Fixed assets | 21/28 | €1,732 | €3,604 | +€1,872 | +108% |
| Tangible fixed assets | 22/27 | €1,732 | €3,604 | +€1,872 | +108% |
| Furniture and vehicles | 24 | €1,732 | €3,604 | +€1,872 | +108% |
| Current assets | 29/58 | €30,353 | €47,377 | +€17,024 | +56.1% |
| Amounts receivable within one year | 40/41 | €10,830 | €15,337 | +€4,507 | +41.6% |
| Trade receivables | 40 | €10,830 | €8,552 | -€2,278 | -21.0% |
| Other amounts receivable | 41 | €0 | €6,786 | +€6,786 | |
| Cash at bank and in hand | 54/58 | €8,964 | €23,979 | +€15,014 | +167% |
| Deferred charges and accrued income | 490/1 | €10,558 | €8,061 | -€2,498 | -23.7% |
| Total equity and liabilities | 10/49 | €32,085 | €50,981 | +€18,896 | +58.9% |
| Equity | 10/15 | €20,138 | €43,993 | +€23,855 | +118% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €17,138 | €40,993 | +€23,855 | +139% |
| Distributable reserves | 133 | €17,138 | €40,993 | +€23,855 | +139% |
| Amounts payable | 17/49 | €11,947 | €6,988 | -€4,959 | -41.5% |
| Amounts payable within one year | 42/48 | €11,947 | €6,988 | -€4,959 | -41.5% |
| Trade debts | 44 | €1,278 | €3,001 | +€1,723 | +135% |
| Suppliers | 440/4 | €1,278 | €3,001 | +€1,723 | +135% |
| Taxes, remuneration and social security | 45 | €7,453 | €3,987 | -€3,466 | -46.5% |
| Taxes | 450/3 | €7,453 | €3,987 | -€3,466 | -46.5% |
| Other amounts payable | 47/48 | €3,217 | €0 | -€3,217 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €741 | €1,463 | +€722 | +97.4% |
| Other operating charges | 640/8 | €314 | €282 | -€32 | -10.2% |
| Gross operating margin | 9900 | €23,188 | €34,352 | +€11,163 | +48.1% |
| Operating profit (loss) | 9901 | €22,134 | €32,607 | +€10,474 | +47.3% |
| Financial income | 75/76B | €31 | €123 | +€92 | +291% |
| Recurring financial income | 75 | €31 | €123 | +€92 | +291% |
| Financial charges | 65/66B | €1,996 | €1,808 | -€188 | -9.4% |
| Recurring financial charges | 65 | €1,996 | €1,808 | -€188 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €20,169 | €30,923 | +€10,754 | +53.3% |
| Income taxes | 67/77 | €4,910 | €7,068 | +€2,158 | +44.0% |
| Profit (loss) for the period | 9904 | €15,259 | €23,855 | +€8,595 | +56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,259 | €23,855 | +€8,595 | +56.3% |
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 15 October 2026 via checked.be.