Nexu: 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.
Nexu
Largest movements
- Receivables within one year +€118,500
up €118,500 (+26.2%), from €451,941 to €570,441
of which Trade receivables: +€119,685
- Cash -€46,733
down €46,733 (-22.1%), from €211,031 to €164,299
mainly Investment in fixed assets (net) (-€166,790) and Contributions, distributions and other (-€147,568)
- Intangible fixed assets +€16,920
up €16,920 (+10818.0%), from €156 to €17,077
- Profit (loss) carried forward +€261,717
up €261,717 (+436413.6%), from €60 to €261,777
- Reserves -€147,568
down €147,568 (-26.1%), from €565,999 to €418,431
of which Distributable reserves: -€147,568
- Other debts -€49,920
down €49,920 (-99.6%), from €50,133 to €213
- Trade debts +€37,396
up €37,396 (+31.7%), from €117,792 to €155,187
- Short-term financial debts +€36,409
new in 2025: €36,409
- Gross operating margin +€243,210
up €243,210 (+24.5%), from €991,151 to €1.2m
- Staff costs +€221,318
up €221,318 (+47.0%), from €470,407 to €691,725
- Depreciation +€37,416
up €37,416 (+29.5%), from €126,709 to €164,125
- Taxes -€20,988
down €20,988 (-18.3%), from €114,898 to €93,911
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.
Cash bridge derived
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 | €1,404,796 | €1,490,807 | +€86,010 | +6.1% |
| Fixed assets | 21/28 | €719,623 | €722,288 | +€2,665 | +0.4% |
| Intangible fixed assets | 21 | €156 | €17,077 | +€16,920 | +10818.0% |
| Tangible fixed assets | 22/27 | €719,467 | €705,211 | -€14,255 | -2.0% |
| Land and buildings | 22 | €449,070 | €418,519 | -€30,551 | -6.8% |
| Plant, machinery and equipment | 23 | €17,814 | €27,157 | +€9,342 | +52.4% |
| Furniture and vehicles | 24 | €140,028 | €128,986 | -€11,042 | -7.9% |
| Other tangible fixed assets | 26 | €112,554 | €130,549 | +€17,996 | +16.0% |
| Current assets | 29/58 | €685,174 | €768,519 | +€83,345 | +12.2% |
| Amounts receivable after more than one year | 29 | €5,000 | €5,000 | = | 0.0% |
| Other amounts receivable | 291 | €5,000 | €5,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €16,731 | €25,361 | +€8,630 | +51.6% |
| Stocks | 30/36 | €16,731 | €25,361 | +€8,630 | +51.6% |
| Amounts receivable within one year | 40/41 | €451,941 | €570,441 | +€118,500 | +26.2% |
| Trade receivables | 40 | €450,514 | €570,199 | +€119,685 | +26.6% |
| Other amounts receivable | 41 | €1,426 | €242 | -€1,184 | -83.0% |
| Cash at bank and in hand | 54/58 | €211,031 | €164,299 | -€46,733 | -22.1% |
| Deferred charges and accrued income | 490/1 | €470 | €3,418 | +€2,948 | +627.1% |
| Total equity and liabilities | 10/49 | €1,404,796 | €1,490,807 | +€86,010 | +6.1% |
| Equity | 10/15 | €572,672 | €686,821 | +€114,149 | +19.9% |
| Contributions | 10/11 | €6,613 | €6,613 | = | 0.0% |
| Reserves | 13 | €565,999 | €418,431 | -€147,568 | -26.1% |
| Tax-exempt reserves | 132 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €558,499 | €410,931 | -€147,568 | -26.4% |
| Profit (loss) carried forward | 14 | €60 | €261,777 | +€261,717 | +436413.6% |
| Amounts payable | 17/49 | €832,124 | €803,985 | -€28,139 | -3.4% |
| Amounts payable after more than one year | 17 | €379,881 | €344,189 | -€35,692 | -9.4% |
| Financial debts | 170/4 | €379,881 | €344,189 | -€35,692 | -9.4% |
| Amounts payable within one year | 42/48 | €452,243 | €459,797 | +€7,553 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | €84,099 | €60,360 | -€23,739 | -28.2% |
| Financial debts | 43 | - | €36,409 | +€36,409 | |
| Credit institutions | 430/8 | - | €36,409 | +€36,409 | |
| Trade debts | 44 | €117,792 | €155,187 | +€37,396 | +31.7% |
| Suppliers | 440/4 | €117,792 | €155,187 | +€37,396 | +31.7% |
| Taxes, remuneration and social security | 45 | €200,220 | €207,628 | +€7,408 | +3.7% |
| Taxes | 450/3 | €145,395 | €129,514 | -€15,881 | -10.9% |
| Remuneration and social security | 454/9 | €54,825 | €78,115 | +€23,289 | +42.5% |
| Other amounts payable | 47/48 | €50,133 | €213 | -€49,920 | -99.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €470,407 | €691,725 | +€221,318 | +47.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,709 | €164,125 | +€37,416 | +29.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,916 | €2,006 | -€3,910 | -66.1% |
| Other operating charges | 640/8 | €4,984 | €10,039 | +€5,055 | +101.4% |
| Gross operating margin | 9900 | €991,151 | €1,234,361 | +€243,210 | +24.5% |
| Operating profit (loss) | 9901 | €383,135 | €366,467 | -€16,668 | -4.4% |
| Financial income | 75/76B | €1,567 | €1,579 | +€12 | +0.8% |
| Recurring financial income | 75 | €1,567 | €1,579 | +€12 | +0.8% |
| Financial charges | 65/66B | €11,898 | €12,418 | +€520 | +4.4% |
| Recurring financial charges | 65 | €11,898 | €12,418 | +€520 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €372,804 | €355,628 | -€17,176 | -4.6% |
| Income taxes | 67/77 | €114,898 | €93,911 | -€20,988 | -18.3% |
| Profit (loss) for the period | 9904 | €257,905 | €261,717 | +€3,812 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €257,905 | €261,717 | +€3,812 | +1.5% |
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 12 October 2026 via checked.be.