NESTAS: 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.
What changed
NESTAS
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€371,478
2024 · €171,858+€199,619
Equity
€9.2m
2024 · €8.8m+€371,478
Cash
€880,124
2024 · €759,736+€120,388
Balance sheet total
€30.6m
2024 · €36.4m-€5.8m
Largest movements
Assets
- Stocks and contracts -€5.9m
down €5.9m (-16.5%), from €35.6m to €29.7m
of which Stocks: -€5.8m
Equity and liabilities
- Short-term financial debts -€6.3m
down €6.3m (-37.6%), from €16.8m to €10.5m
of which Other loans: -€5.5m
- Profit (loss) carried forward +€371,478
up €371,478 (+9.5%), from €3.9m to €4.3m
Income statement
- Turnover +€3.8m
up €3.8m (+54.9%), from €6.9m to €10.7m
- Purchases and services +€3.8m
up €3.8m (+73.1%), from €5.1m to €8.9m
- Staff costs -€212,787
down €212,787 (-27.0%), from €787,934 to €575,147
- Financial charges -€173,397
down €173,397 (-21.1%), from €820,342 to €646,945
- Gross operating margin -€129,344
down €129,344 (-7.0%), from €1.8m to €1.7m
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.
Result 2024
€171,858
Gross operating margin
-€129,344
Staff costs
+€212,787
Other operating charges
-€1,304
Financial income
+€2,517
Financial charges
+€173,397
Taxes
-€58,434
Result 2025
€371,478
raises the resultlowers the result
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.
From operations
+€6.4m
Investment
€0
Financing
-€6.3m
Cash 2024
€759,736
From operations (derived)
+€6.4m
Net result for the year
+€371,478
Stocks and contracts
+€5.9m
Smaller working-capital items
+€8,671
Tax, wage and social debts
-€19,470
Advances received
-€37,987
Other debts
+€49,000
Accrued charges and deferred income
+€190,678
Financing
-€6.3m
Short-term financial debts
-€6.3m
Cash 2025
€880,124
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €36,403,886 | €30,627,981 | -€5.8m | -15.9% |
| Current assets | 29/58 | €36,403,886 | €30,627,981 | -€5.8m | -15.9% |
| Stocks and contracts in progress | 3 | €35,564,895 | €29,681,877 | -€5.9m | -16.5% |
| Stocks | 30/36 | €35,496,784 | €29,660,356 | -€5.8m | -16.4% |
| Contracts in progress | 37 | €68,111 | €21,520 | -€46,591 | -68.4% |
| Amounts receivable within one year | 40/41 | €56,225 | €55,142 | -€1,083 | -1.9% |
| Trade receivables | 40 | €4,636 | €3,820 | -€816 | -17.6% |
| Other amounts receivable | 41 | €51,589 | €51,322 | -€267 | -0.5% |
| Cash at bank and in hand | 54/58 | €759,736 | €880,124 | +€120,388 | +15.8% |
| Deferred charges and accrued income | 490/1 | €23,030 | €10,840 | -€12,190 | -52.9% |
| Total equity and liabilities | 10/49 | €36,403,886 | €30,627,981 | -€5.8m | -15.9% |
| Equity | 10/15 | €8,801,117 | €9,172,595 | +€371,478 | +4.2% |
| Contributions | 10/11 | €4,250,000 | €4,250,000 | = | 0.0% |
| Capital | 10 | €4,250,000 | €4,250,000 | = | 0.0% |
| Issued capital | 100 | €4,250,000 | €4,250,000 | = | 0.0% |
| Reserves | 13 | €635,500 | €635,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €425,000 | €425,000 | = | 0.0% |
| Legal reserve | 130 | €425,000 | €425,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €210,500 | €210,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,915,617 | €4,287,095 | +€371,478 | +9.5% |
| Amounts payable | 17/49 | €27,602,768 | €21,455,387 | -€6.1m | -22.3% |
| Amounts payable after more than one year | 17 | €10,000,000 | €10,000,000 | = | 0.0% |
| Financial debts | 170/4 | €10,000,000 | €10,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €17,432,112 | €11,094,053 | -€6.3m | -36.4% |
| Financial debts | 43 | €16,825,000 | €10,500,000 | -€6.3m | -37.6% |
| Credit institutions | 430/8 | €11,300,000 | €10,500,000 | -€800,000 | -7.1% |
| Other loans | 439 | €5,525,000 | - | -€5.5m | |
| Trade debts | 44 | €105,309 | €100,708 | -€4,602 | -4.4% |
| Suppliers | 440/4 | €105,309 | €100,708 | -€4,602 | -4.4% |
| Advances received on contracts in progress | 46 | €381,871 | €343,884 | -€37,987 | -9.9% |
| Taxes, remuneration and social security | 45 | €116,412 | €96,942 | -€19,470 | -16.7% |
| Taxes | 450/3 | €27,520 | €26,033 | -€1,487 | -5.4% |
| Remuneration and social security | 454/9 | €88,891 | €70,908 | -€17,983 | -20.2% |
| Other amounts payable | 47/48 | €3,520 | €52,520 | +€49,000 | +1,392% |
| Accrued charges and deferred income | 492/3 | €170,656 | €361,334 | +€190,678 | +112% |
| Turnover | 70 | €6,883,018 | €10,664,795 | +€3.8m | +54.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €5,142,438 | €8,902,921 | +€3.8m | +73.1% |
| Remuneration, social security and pensions | 62 | €787,934 | €575,147 | -€212,787 | -27.0% |
| Other operating charges | 640/8 | €1,733 | €3,037 | +€1,304 | +75.2% |
| Gross operating margin | 9900 | €1,846,811 | €1,717,467 | -€129,344 | -7.0% |
| Operating profit (loss) | 9901 | €1,057,144 | €1,139,283 | +€82,139 | +7.8% |
| Financial income | 75/76B | €2,302 | €4,819 | +€2,517 | +109% |
| Recurring financial income | 75 | €2,302 | €4,819 | +€2,517 | +109% |
| Financial charges | 65/66B | €820,342 | €646,945 | -€173,397 | -21.1% |
| Recurring financial charges | 65 | €820,342 | €646,945 | -€173,397 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €239,104 | €497,158 | +€258,054 | +108% |
| Income taxes | 67/77 | €67,246 | €125,680 | +€58,434 | +86.9% |
| Profit (loss) for the period | 9904 | €171,858 | €371,478 | +€199,619 | +116% |
| Transfer from tax-exempt reserves | 789 | €421,000 | €210,500 | -€210,500 | -50.0% |
| Transfer to tax-exempt reserves | 689 | - | €210,500 | +€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €592,858 | €371,478 | -€221,381 | -37.3% |
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 30 October 2026 via checked.be.