NESTT: 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
NESTT
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€726,175
2024 · -€611,682-€114,493
Equity
€7.7m
2024 · €6.9m+€773,825
Cash
€62,761
2024 · €23,144+€39,617
Balance sheet total
€7.7m
2024 · €7.6m+€147,977
Largest movements
Assets
- Receivables within one year +€169,265
up €169,265 (+21,900%), from €773 to €170,038
Equity and liabilities
- Contributions +€1.5m
up €1.5m (+17.2%), from €8.7m to €10.2m
- Profit (loss) carried forward -€726,175
down €726,175 (-38.6%), from -€1.9m to -€2.6m
- Debts after one year -€615,000
no longer reported in 2025 (was €615,000)
Income statement
- Gross operating margin -€93,827
down €93,827 (-37.6%), from -€249,703 to -€343,529
- Financial charges +€11,982
up €11,982 (+54.6%), from €21,959 to €33,942
- Depreciation +€8,077
up €8,077 (+2.5%), from €319,156 to €327,233
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
-€611,682
Gross operating margin
-€93,827
Depreciation
-€8,077
Other operating charges
-€615
Financial income
-€0
Financial charges
-€11,982
Taxes
+€8
Result 2025
-€726,175
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
-€575,222
Investment
-€270,160
Financing
+€885,000
Cash 2024
€23,144
From operations (derived)
-€575,222
Net result for the year
-€726,175
Depreciation
+€327,233
Receivables within one year
-€169,265
Deferred charges and accrued income
+€3,833
Smaller working-capital items
-€3,495
Tax, wage and social debts
+€6,953
Accrued charges and deferred income
-€14,306
Investment (derived)
-€270,160
Investment in fixed assets (net)
-€270,160
Financing
+€885,000
Debts after one year
-€615,000
Contributions, distributions and other
+€1.5m
Cash 2025
€62,761
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,581,724 | €7,729,701 | +€147,977 | +2.0% |
| Fixed assets | 21/28 | €7,546,906 | €7,489,834 | -€57,073 | -0.8% |
| Tangible fixed assets | 22/27 | €7,546,906 | €7,489,834 | -€57,073 | -0.8% |
| Land and buildings | 22 | €7,466,020 | €7,402,458 | -€63,562 | -0.9% |
| Plant, machinery and equipment | 23 | €22,550 | €16,956 | -€5,594 | -24.8% |
| Furniture and vehicles | 24 | €58,336 | €70,419 | +€12,083 | +20.7% |
| Current assets | 29/58 | €34,817 | €239,867 | +€205,050 | +589% |
| Amounts receivable within one year | 40/41 | €773 | €170,038 | +€169,265 | +21,900% |
| Other amounts receivable | 41 | €773 | €170,038 | +€169,265 | +21,900% |
| Cash at bank and in hand | 54/58 | €23,144 | €62,761 | +€39,617 | +171% |
| Deferred charges and accrued income | 490/1 | €10,900 | €7,068 | -€3,833 | -35.2% |
| Total equity and liabilities | 10/49 | €7,581,724 | €7,729,701 | +€147,977 | +2.0% |
| Equity | 10/15 | €6,925,844 | €7,699,668 | +€773,825 | +11.2% |
| Contributions | 10/11 | €8,700,000 | €10,200,000 | +€1.5m | +17.2% |
| Capital | 10 | €8,700,000 | €10,200,000 | +€1.5m | +17.2% |
| Issued capital | 100 | €8,700,000 | €10,200,000 | +€1.5m | +17.2% |
| Reserves | 13 | €106,449 | €106,449 | = | 0.0% |
| Non-distributable reserves | 130/1 | €106,449 | €106,449 | = | 0.0% |
| Legal reserve | 130 | €106,449 | €106,449 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,880,605 | -€2,606,780 | -€726,175 | -38.6% |
| Amounts payable | 17/49 | €655,880 | €30,032 | -€625,848 | -95.4% |
| Amounts payable after more than one year | 17 | €615,000 | - | -€615,000 | |
| Financial debts | 170/4 | €615,000 | - | -€615,000 | |
| Amounts payable within one year | 42/48 | €26,574 | €30,032 | +€3,458 | +13.0% |
| Trade debts | 44 | €16,837 | €14,183 | -€2,654 | -15.8% |
| Suppliers | 440/4 | €16,837 | €14,183 | -€2,654 | -15.8% |
| Taxes, remuneration and social security | 45 | €8,897 | €15,849 | +€6,953 | +78.2% |
| Taxes | 450/3 | €8,897 | €15,849 | +€6,953 | +78.2% |
| Other amounts payable | 47/48 | €841 | - | -€841 | |
| Accrued charges and deferred income | 492/3 | €14,306 | - | -€14,306 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €319,156 | €327,233 | +€8,077 | +2.5% |
| Other operating charges | 640/8 | €19,963 | €20,578 | +€615 | +3.1% |
| Gross operating margin | 9900 | -€249,703 | -€343,529 | -€93,827 | -37.6% |
| Operating profit (loss) | 9901 | -€588,821 | -€691,340 | -€102,519 | -17.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €21,959 | €33,942 | +€11,982 | +54.6% |
| Recurring financial charges | 65 | €21,959 | €33,942 | +€11,982 | +54.6% |
| Profit (loss) for the period before taxes | 9903 | -€610,781 | -€725,282 | -€114,501 | -18.7% |
| Income taxes | 67/77 | €901 | €894 | -€8 | -0.9% |
| Profit (loss) for the period | 9904 | -€611,682 | -€726,175 | -€114,493 | -18.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€611,682 | -€726,175 | -€114,493 | -18.7% |
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 19 October 2026 via checked.be.