NESTOR DGL: 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 DGL
Largest movements
- Tangible fixed assets -€76,689
down €76,689 (-19.2%), from €400,059 to €323,370
of which Land and buildings: -€51,367
- Cash -€11,197
down €11,197 (-11.8%), from €94,699 to €83,501
mainly Debts after one year (-€48,152) and Contributions, distributions and other (-€29,150)
- Stocks and contracts -€7,827
down €7,827 (-44.9%), from €17,421 to €9,594
- Debts after one year -€48,152
down €48,152 (-18.4%), from €261,378 to €213,226
- Profit (loss) carried forward -€29,150
down €29,150 (-88.0%), from €33,110 to €3,960
- Reserves +€17,468
up €17,468 (+45.3%), from €38,546 to €56,014
of which Distributable reserves: +€17,468
- Trade debts -€12,204
down €12,204 (-19.9%), from €61,384 to €49,180
- Tax, wage and social debts -€11,669
down €11,669 (-24.2%), from €48,128 to €36,459
of which Remuneration and social security: -€9,518
- Gross operating margin -€39,459
down €39,459 (-6.9%), from €575,658 to €536,199
- Staff costs -€38,560
down €38,560 (-8.6%), from €450,762 to €412,202
- Taxes +€9,106
up €9,106 (+339%), from €2,686 to €11,791
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €529,189 | €435,519 | -€93,670 | -17.7% |
| Fixed assets | 21/28 | €400,059 | €323,370 | -€76,689 | -19.2% |
| Tangible fixed assets | 22/27 | €400,059 | €323,370 | -€76,689 | -19.2% |
| Land and buildings | 22 | €330,126 | €278,759 | -€51,367 | -15.6% |
| Plant, machinery and equipment | 23 | €11,788 | €5,192 | -€6,596 | -56.0% |
| Furniture and vehicles | 24 | €58,144 | €39,418 | -€18,726 | -32.2% |
| Current assets | 29/58 | €129,130 | €112,149 | -€16,981 | -13.2% |
| Stocks and contracts in progress | 3 | €17,421 | €9,594 | -€7,827 | -44.9% |
| Stocks | 30/36 | €17,421 | €9,594 | -€7,827 | -44.9% |
| Amounts receivable within one year | 40/41 | €6,497 | €8,267 | +€1,770 | +27.2% |
| Trade receivables | 40 | €5,127 | €17 | -€5,110 | -99.7% |
| Other amounts receivable | 41 | €1,369 | €8,249 | +€6,880 | +502% |
| Cash at bank and in hand | 54/58 | €94,699 | €83,501 | -€11,197 | -11.8% |
| Deferred charges and accrued income | 490/1 | €10,514 | €10,787 | +€274 | +2.6% |
| Total equity and liabilities | 10/49 | €529,189 | €435,519 | -€93,670 | -17.7% |
| Equity | 10/15 | €91,656 | €79,974 | -€11,682 | -12.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €38,546 | €56,014 | +€17,468 | +45.3% |
| Tax-exempt reserves | 132 | €17,260 | €17,260 | = | 0.0% |
| Distributable reserves | 133 | €21,285 | €38,753 | +€17,468 | +82.1% |
| Profit (loss) carried forward | 14 | €33,110 | €3,960 | -€29,150 | -88.0% |
| Amounts payable | 17/49 | €437,533 | €355,545 | -€81,988 | -18.7% |
| Amounts payable after more than one year | 17 | €261,378 | €213,226 | -€48,152 | -18.4% |
| Financial debts | 170/4 | €261,378 | €213,226 | -€48,152 | -18.4% |
| Amounts payable within one year | 42/48 | €176,155 | €142,319 | -€33,836 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €47,293 | €48,152 | +€859 | +1.8% |
| Trade debts | 44 | €61,384 | €49,180 | -€12,204 | -19.9% |
| Suppliers | 440/4 | €61,384 | €49,180 | -€12,204 | -19.9% |
| Advances received on contracts in progress | 46 | €1,550 | €2,200 | +€650 | +41.9% |
| Taxes, remuneration and social security | 45 | €48,128 | €36,459 | -€11,669 | -24.2% |
| Taxes | 450/3 | €14,873 | €12,722 | -€2,151 | -14.5% |
| Remuneration and social security | 454/9 | €33,255 | €23,737 | -€9,518 | -28.6% |
| Other amounts payable | 47/48 | €17,799 | €6,328 | -€11,472 | -64.4% |
| Remuneration, social security and pensions | 62 | €450,762 | €412,202 | -€38,560 | -8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,302 | €77,923 | -€5,379 | -6.5% |
| Other operating charges | 640/8 | €5,784 | €6,579 | +€795 | +13.7% |
| Gross operating margin | 9900 | €575,658 | €536,199 | -€39,459 | -6.9% |
| Operating profit (loss) | 9901 | €35,810 | €39,495 | +€3,685 | +10.3% |
| Financial income | 75/76B | €693 | €490 | -€203 | -29.3% |
| Recurring financial income | 75 | €693 | €490 | -€203 | -29.3% |
| Financial charges | 65/66B | €12,532 | €10,726 | -€1,807 | -14.4% |
| Recurring financial charges | 65 | €12,532 | €10,726 | -€1,807 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €23,971 | €29,259 | +€5,288 | +22.1% |
| Income taxes | 67/77 | €2,686 | €11,791 | +€9,106 | +339% |
| Profit (loss) for the period | 9904 | €21,285 | €17,468 | -€3,817 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,285 | €17,468 | -€3,817 | -17.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.