NESTAR: 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.
NESTAR
Largest movements
- Receivables within one year -€3,512
down €3,512 (-16.5%), from €21,250 to €17,738
of which Trade receivables: -€8,492
- Cash -€2,831
down €2,831 (-3.6%), from €77,936 to €75,105
mainly Contributions, distributions and other (-€30,000) and Tax, wage and social debts (-€13,338)
- Tangible fixed assets -€1,853
down €1,853 (-29.9%), from €6,191 to €4,338
of which Plant, machinery and equipment: -€1,338
- Profit (loss) carried forward -€25,194
down €25,194 (-96.4%), from €26,134 to €939
- Reserves +€15,500
up €15,500 (+39.2%), from €39,500 to €55,000
- Other debts +€14,921
up €14,921 (+98.2%), from €15,199 to €30,121
- Tax, wage and social debts -€13,338
down €13,338 (-61.2%), from €21,806 to €8,468
of which Taxes: -€10,578
- Gross operating margin -€2,832
down €2,832 (-8.8%), from €32,189 to €29,357
- Other operating charges -€650
down €650 (-81.9%), from €795 to €144
- Taxes -€597
down €597 (-7.8%), from €7,611 to €7,014
- Depreciation +€409
up €409 (+28.3%), from €1,444 to €1,853
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 | €105,872 | €97,614 | -€8,258 | -7.8% |
| Fixed assets | 21/28 | €6,191 | €4,338 | -€1,853 | -29.9% |
| Tangible fixed assets | 22/27 | €6,191 | €4,338 | -€1,853 | -29.9% |
| Land and buildings | 22 | €1,528 | €1,355 | -€173 | -11.3% |
| Plant, machinery and equipment | 23 | €3,350 | €2,012 | -€1,338 | -39.9% |
| Furniture and vehicles | 24 | €1,313 | €971 | -€342 | -26.0% |
| Current assets | 29/58 | €99,680 | €93,276 | -€6,405 | -6.4% |
| Amounts receivable within one year | 40/41 | €21,250 | €17,738 | -€3,512 | -16.5% |
| Trade receivables | 40 | €21,244 | €12,752 | -€8,492 | -40.0% |
| Other amounts receivable | 41 | €6 | €4,986 | +€4,980 | +76846.1% |
| Cash at bank and in hand | 54/58 | €77,936 | €75,105 | -€2,831 | -3.6% |
| Deferred charges and accrued income | 490/1 | €494 | €432 | -€62 | -12.5% |
| Total equity and liabilities | 10/49 | €105,872 | €97,614 | -€8,258 | -7.8% |
| Equity | 10/15 | €68,634 | €58,939 | -€9,694 | -14.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €39,500 | €55,000 | +€15,500 | +39.2% |
| Distributable reserves | 133 | €39,500 | €55,000 | +€15,500 | +39.2% |
| Profit (loss) carried forward | 14 | €26,134 | €939 | -€25,194 | -96.4% |
| Amounts payable | 17/49 | €37,238 | €38,675 | +€1,437 | +3.9% |
| Amounts payable within one year | 42/48 | €37,238 | €38,675 | +€1,437 | +3.9% |
| Trade debts | 44 | €233 | €87 | -€146 | -62.8% |
| Suppliers | 440/4 | €233 | €87 | -€146 | -62.8% |
| Taxes, remuneration and social security | 45 | €21,806 | €8,468 | -€13,338 | -61.2% |
| Taxes | 450/3 | €19,046 | €8,468 | -€10,578 | -55.5% |
| Remuneration and social security | 454/9 | €2,760 | €0 | -€2,760 | -100.0% |
| Other amounts payable | 47/48 | €15,199 | €30,121 | +€14,921 | +98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,444 | €1,853 | +€409 | +28.3% |
| Other operating charges | 640/8 | €795 | €144 | -€650 | -81.9% |
| Gross operating margin | 9900 | €32,189 | €29,357 | -€2,832 | -8.8% |
| Operating profit (loss) | 9901 | €29,951 | €27,360 | -€2,591 | -8.7% |
| Financial charges | 65/66B | €85 | €40 | -€45 | -52.7% |
| Recurring financial charges | 65 | €85 | €40 | -€45 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | €29,865 | €27,319 | -€2,546 | -8.5% |
| Income taxes | 67/77 | €7,611 | €7,014 | -€597 | -7.8% |
| Profit (loss) for the period | 9904 | €22,255 | €20,306 | -€1,949 | -8.8% |
| Profit (loss) for the period to be appropriated | 9905 | €22,255 | €20,306 | -€1,949 | -8.8% |
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 7 October 2026 via checked.be.