NESTOR: 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.
NESTOR
Largest movements
- Cash -€18,813
down €18,813 (-85.0%), from €22,129 to €3,317
mainly Trade debts (-€26,790) and Debts after one year (-€24,390)
- Tangible fixed assets +€7,095
up €7,095 (+70.6%), from €10,045 to €17,140
of which Plant, machinery and equipment: +€11,678
- Current portion of long-term debt +€31,841
up €31,841 (+128%), from €24,835 to €56,676
- Trade debts -€26,790
down €26,790 (-48.1%), from €55,722 to €28,932
- Debts after one year -€24,390
down €24,390 (-18.0%), from €135,401 to €111,011
- Other debts +€15,542
up €15,542 (+14.3%), from €108,748 to €124,289
- Profit (loss) carried forward -€11,408
down €11,408, from €1,124 to -€10,284
- Staff costs +€30,497
new in 2025: €30,497
- Gross operating margin +€19,964
up €19,964 (+113%), from €17,650 to €37,614
- Depreciation +€5,235
up €5,235 (+71.9%), from €7,286 to €12,521
- Taxes -€1,965
down €1,965 (-96.5%), from €2,037 to €72
- Financial income -€512
down €512 (-94.4%), from €542 to €30
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 | €354,531 | €344,153 | -€10,378 | -2.9% |
| Fixed assets | 21/28 | €10,045 | €17,140 | +€7,095 | +70.6% |
| Tangible fixed assets | 22/27 | €10,045 | €17,140 | +€7,095 | +70.6% |
| Plant, machinery and equipment | 23 | €1,960 | €13,638 | +€11,678 | +596% |
| Furniture and vehicles | 24 | €8,085 | €3,502 | -€4,583 | -56.7% |
| Current assets | 29/58 | €344,486 | €327,013 | -€17,473 | -5.1% |
| Stocks and contracts in progress | 3 | €286,466 | €283,482 | -€2,984 | -1.0% |
| Stocks | 30/36 | €286,466 | €283,482 | -€2,984 | -1.0% |
| Amounts receivable within one year | 40/41 | €35,238 | €38,003 | +€2,765 | +7.8% |
| Trade receivables | 40 | €34,138 | €36,903 | +€2,765 | +8.1% |
| Other amounts receivable | 41 | €1,100 | €1,100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,129 | €3,317 | -€18,813 | -85.0% |
| Deferred charges and accrued income | 490/1 | €653 | €2,211 | +€1,559 | +239% |
| Total equity and liabilities | 10/49 | €354,531 | €344,153 | -€10,378 | -2.9% |
| Equity | 10/15 | €19,724 | €8,316 | -€11,408 | -57.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,124 | -€10,284 | -€11,408 | |
| Amounts payable | 17/49 | €334,807 | €335,837 | +€1,030 | +0.3% |
| Amounts payable after more than one year | 17 | €135,401 | €111,011 | -€24,390 | -18.0% |
| Financial debts | 170/4 | €135,401 | €111,011 | -€24,390 | -18.0% |
| Amounts payable within one year | 42/48 | €194,931 | €222,409 | +€27,479 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €24,835 | €56,676 | +€31,841 | +128% |
| Trade debts | 44 | €55,722 | €28,932 | -€26,790 | -48.1% |
| Suppliers | 440/4 | €55,722 | €28,932 | -€26,790 | -48.1% |
| Taxes, remuneration and social security | 45 | €5,626 | €12,512 | +€6,886 | +122% |
| Taxes | 450/3 | €5,626 | €12,239 | +€6,613 | +118% |
| Remuneration and social security | 454/9 | - | €273 | +€273 | |
| Other amounts payable | 47/48 | €108,748 | €124,289 | +€15,542 | +14.3% |
| Accrued charges and deferred income | 492/3 | €4,476 | €2,417 | -€2,059 | -46.0% |
| Remuneration, social security and pensions | 62 | - | €30,497 | +€30,497 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,286 | €12,521 | +€5,235 | +71.9% |
| Other operating charges | 640/8 | €1,039 | €1,043 | +€4 | +0.4% |
| Gross operating margin | 9900 | €17,650 | €37,614 | +€19,964 | +113% |
| Operating profit (loss) | 9901 | €9,325 | -€6,447 | -€15,773 | |
| Financial income | 75/76B | €542 | €30 | -€512 | -94.4% |
| Recurring financial income | 75 | €542 | €30 | -€512 | -94.4% |
| Financial charges | 65/66B | €5,375 | €4,919 | -€456 | -8.5% |
| Recurring financial charges | 65 | €5,375 | €4,919 | -€456 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €4,492 | -€11,336 | -€15,828 | |
| Income taxes | 67/77 | €2,037 | €72 | -€1,965 | -96.5% |
| Profit (loss) for the period | 9904 | €2,455 | -€11,408 | -€13,863 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,455 | -€11,408 | -€13,863 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.