Nestor Holding: 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
Nestor Holding
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€531,222
2024 · €558,228-€27,006
Equity
€8.7m
2024 · €8.2m+€531,222
Cash
€47,423
2024 · €79,724-€32,300
Balance sheet total
€11.4m
2024 · €11.3m+€36,784
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Reserves +€531,222
up €531,222 (+45.1%), from €1.2m to €1.7m
- Debts after one year -€500,000
down €500,000 (-20.0%), from €2.5m to €2.0m
Income statement
- Turnover +€750,396
new in 2025: €750,396
- Services and other goods +€630,900
new in 2025: €630,900
- Gross operating margin -€164,329
no longer reported in 2025 (was €164,329)
- Financial charges -€9,827
down €9,827 (-15.6%), from €63,189 to €53,362
- Taxes -€9,002
down €9,002 (-46.4%), from €19,409 to €10,407
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
€558,228
Turnover
+€750,396
Services and other goods
-€630,900
Depreciation
-€0
Other operating charges
-€1,002
Other operating items
-€164,329
Financial income
-€0
Financial charges
+€9,827
Taxes
+€9,002
Result 2025
€531,222
raises the resultlowers the resultnot broken down further in the accounts
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
+€467,700
Investment
€0
Financing
-€500,000
Cash 2024
€79,724
From operations (derived)
+€467,700
Net result for the year
+€531,222
Depreciation
+€23,252
Receivables within one year
-€28,241
Deferred charges and accrued income
-€64,096
Trade debts
-€90,289
Tax, wage and social debts
+€5,818
Other debts
+€90,034
Financing
-€500,000
Debts after one year
-€500,000
Cash 2025
€47,423
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,327,115 | €11,363,900 | +€36,784 | +0.3% |
| Formation expenses | 20 | €53,074 | €29,822 | -€23,252 | -43.8% |
| Fixed assets | 21/28 | €11,000,000 | €11,000,000 | = | 0.0% |
| Financial fixed assets | 28 | €11,000,000 | €11,000,000 | = | 0.0% |
| Affiliated companies | 280/1 | - | €11,000,000 | +€11.0m | |
| Participating interests | 280 | - | €11,000,000 | +€11.0m | |
| Current assets | 29/58 | €274,041 | €334,077 | +€60,036 | +21.9% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €194,296 | €222,536 | +€28,241 | +14.5% |
| Trade receivables | 40 | €174,332 | €197,353 | +€23,021 | +13.2% |
| Other amounts receivable | 41 | €19,963 | €25,183 | +€5,220 | +26.1% |
| Cash at bank and in hand | 54/58 | €79,724 | €47,423 | -€32,300 | -40.5% |
| Deferred charges and accrued income | 490/1 | €22 | €64,118 | +€64,096 | +293,210% |
| Total equity and liabilities | 10/49 | €11,327,115 | €11,363,900 | +€36,784 | +0.3% |
| Equity | 10/15 | €8,177,422 | €8,708,644 | +€531,222 | +6.5% |
| Contributions | 10/11 | €7,000,001 | €7,000,001 | = | 0.0% |
| Reserves | 13 | €1,177,421 | €1,708,643 | +€531,222 | +45.1% |
| Distributable reserves | 133 | €1,177,421 | €1,708,643 | +€531,222 | +45.1% |
| Amounts payable | 17/49 | €3,149,693 | €2,655,255 | -€494,438 | -15.7% |
| Amounts payable after more than one year | 17 | €2,500,000 | €2,000,000 | -€500,000 | -20.0% |
| Financial debts | 170/4 | €2,500,000 | €2,000,000 | -€500,000 | -20.0% |
| Credit institutions | 173 | - | €2,000,000 | +€2.0m | |
| Amounts payable within one year | 42/48 | €649,693 | €655,255 | +€5,562 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €141,747 | €51,458 | -€90,289 | -63.7% |
| Suppliers | 440/4 | €141,747 | €51,458 | -€90,289 | -63.7% |
| Taxes, remuneration and social security | 45 | €7,787 | €13,605 | +€5,818 | +74.7% |
| Taxes | 450/3 | €7,787 | €13,605 | +€5,818 | +74.7% |
| Other amounts payable | 47/48 | €159 | €90,193 | +€90,034 | +56,607% |
| Operating income | 70/76A | - | €750,396 | +€750,396 | |
| Turnover | 70 | - | €750,396 | +€750,396 | |
| Operating charges | 60/66A | - | €655,405 | +€655,405 | |
| Services and other goods | 61 | - | €630,900 | +€630,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,252 | €23,252 | +€0 | 0.0% |
| Other operating charges | 640/8 | €251 | €1,253 | +€1,002 | +400% |
| Gross operating margin | 9900 | €164,329 | - | -€164,329 | |
| Operating profit (loss) | 9901 | €140,827 | €94,992 | -€45,835 | -32.5% |
| Financial income | 75/76B | €500,000 | €500,000 | -€0 | 0.0% |
| Recurring financial income | 75 | €500,000 | €500,000 | -€0 | 0.0% |
| Income from financial fixed assets | 750 | - | €500,000 | +€500,000 | |
| Other financial income | 752/9 | - | €0 | = | |
| Financial charges | 65/66B | €63,189 | €53,362 | -€9,827 | -15.6% |
| Recurring financial charges | 65 | €63,189 | €53,362 | -€9,827 | -15.6% |
| Debt charges | 650 | - | €52,678 | +€52,678 | |
| Other financial charges | 652/9 | - | €684 | +€684 | |
| Profit (loss) for the period before taxes | 9903 | €577,637 | €541,629 | -€36,008 | -6.2% |
| Income taxes | 67/77 | €19,409 | €10,407 | -€9,002 | -46.4% |
| Taxes | 670/3 | - | €10,407 | +€10,407 | |
| Profit (loss) for the period | 9904 | €558,228 | €531,222 | -€27,006 | -4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €558,228 | €531,222 | -€27,006 | -4.8% |
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 23 October 2026 via checked.be.