NEST: 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.
NEST
Largest movements
- Tangible fixed assets -€15,369
down €15,369 (-26.0%), from €59,149 to €43,780
of which Land and buildings: -€9,047
- Cash +€8,979
up €8,979 (+267%), from €3,360 to €12,339
mainly Net result for the year (+€22,497) and Depreciation (+€20,226)
- Receivables within one year +€7,261
up €7,261 (+66.6%), from €10,896 to €18,157
of which Trade receivables: +€5,087
- Deferred charges and accrued income -€2,038
down €2,038 (-100%), from €2,038 to €0
- Debts after one year -€23,898
down €23,898 (-39.4%), from €60,620 to €36,723
- Profit (loss) carried forward +€22,497
up €22,497 (+56.1%), from -€40,127 to -€17,629
- Trade debts +€3,973
up €3,973 (+95.7%), from €4,153 to €8,125
- Current portion of long-term debt -€2,585
down €2,585 (-9.8%), from €26,483 to €23,898
- Tax, wage and social debts +€1,567
up €1,567 (+52.0%), from €3,016 to €4,584
- Gross operating margin +€3,618
up €3,618 (+7.9%), from €46,092 to €49,711
- Financial charges -€1,425
down €1,425 (-24.8%), from €5,758 to €4,333
- Depreciation +€827
up €827 (+4.3%), from €19,399 to €20,226
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 | €75,467 | €74,300 | -€1,167 | -1.5% |
| Fixed assets | 21/28 | €59,174 | €43,805 | -€15,369 | -26.0% |
| Tangible fixed assets | 22/27 | €59,149 | €43,780 | -€15,369 | -26.0% |
| Land and buildings | 22 | €27,142 | €18,095 | -€9,047 | -33.3% |
| Plant, machinery and equipment | 23 | €32,007 | €25,685 | -€6,322 | -19.8% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €16,293 | €30,495 | +€14,202 | +87.2% |
| Amounts receivable within one year | 40/41 | €10,896 | €18,157 | +€7,261 | +66.6% |
| Trade receivables | 40 | €2,972 | €8,059 | +€5,087 | +171% |
| Other amounts receivable | 41 | €7,924 | €10,098 | +€2,174 | +27.4% |
| Cash at bank and in hand | 54/58 | €3,360 | €12,339 | +€8,979 | +267% |
| Deferred charges and accrued income | 490/1 | €2,038 | €0 | -€2,038 | -100% |
| Total equity and liabilities | 10/49 | €75,467 | €74,300 | -€1,167 | -1.5% |
| Equity | 10/15 | -€21,527 | €971 | +€22,497 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,127 | -€17,629 | +€22,497 | +56.1% |
| Amounts payable | 17/49 | €96,993 | €73,329 | -€23,664 | -24.4% |
| Amounts payable after more than one year | 17 | €60,620 | €36,723 | -€23,898 | -39.4% |
| Financial debts | 170/4 | €60,620 | €36,723 | -€23,898 | -39.4% |
| Amounts payable within one year | 42/48 | €35,853 | €36,606 | +€753 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €26,483 | €23,898 | -€2,585 | -9.8% |
| Trade debts | 44 | €4,153 | €8,125 | +€3,973 | +95.7% |
| Suppliers | 440/4 | €4,153 | €8,125 | +€3,973 | +95.7% |
| Advances received on contracts in progress | 46 | €1,202 | €0 | -€1,202 | -100% |
| Taxes, remuneration and social security | 45 | €3,016 | €4,584 | +€1,567 | +52.0% |
| Taxes | 450/3 | €3,016 | €4,584 | +€1,567 | +52.0% |
| Other amounts payable | 47/48 | €1,000 | €0 | -€1,000 | -100% |
| Accrued charges and deferred income | 492/3 | €519 | €0 | -€519 | -100% |
| Non-recurring operating income | 76A | €3,127 | €0 | -€3,127 | -100% |
| Remuneration, social security and pensions | 62 | €57 | €59 | +€2 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,399 | €20,226 | +€827 | +4.3% |
| Other operating charges | 640/8 | €132 | €141 | +€9 | +6.7% |
| Non-recurring operating charges | 66A | €25,809 | €2,456 | -€23,353 | -90.5% |
| Gross operating margin | 9900 | €46,092 | €49,711 | +€3,618 | +7.9% |
| Operating profit (loss) | 9901 | €696 | €26,830 | +€26,134 | +3,757% |
| Financial income | 75/76B | €190 | €0 | -€189 | -99.8% |
| Recurring financial income | 75 | €190 | €0 | -€189 | -99.8% |
| Financial charges | 65/66B | €5,758 | €4,333 | -€1,425 | -24.8% |
| Recurring financial charges | 65 | €5,758 | €4,333 | -€1,425 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,873 | €22,497 | +€27,370 | |
| Profit (loss) for the period | 9904 | -€4,873 | €22,497 | +€27,370 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,873 | €22,497 | +€27,370 |
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 14 October 2026 via checked.be.