NEXUS PROJECT: 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.
NEXUS PROJECT
Largest movements
- Tangible fixed assets +€24,831
up €24,831 (+86.7%), from €28,635 to €53,466
of which Plant, machinery and equipment: +€30,014
- Receivables within one year -€8,551
down €8,551 (-43.8%), from €19,507 to €10,955
of which Trade receivables: -€8,968
- Cash +€8,292
up €8,292 (+24,863%), from €33 to €8,325
mainly Other debts (+€30,157) and Depreciation (+€12,912)
- Formation expenses -€1,645
down €1,645 (-100%), from €1,645 to €0
- Other debts +€30,157
new in 2025: €30,157
- Debts after one year -€5,238
down €5,238 (-24.7%), from €21,230 to €15,992
- Tax, wage and social debts -€2,020
down €2,020 (-22.3%), from €9,055 to €7,035
of which Remuneration and social security: -€3,914
- Reserves -€1,943
down €1,943 (-13.8%), from €14,108 to €12,165
- Trade debts +€1,327
new in 2025: €1,327
- Depreciation +€10,783
up €10,783 (+507%), from €2,129 to €12,912
- Gross operating margin -€8,280
down €8,280 (-40.0%), from €20,697 to €12,417
- Taxes -€3,754
down €3,754 (-99.8%), from €3,760 to €6
- Financial charges +€616
up €616 (+120%), from €515 to €1,131
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 | €49,820 | €72,747 | +€22,927 | +46.0% |
| Formation expenses | 20 | €1,645 | €0 | -€1,645 | -100% |
| Fixed assets | 21/28 | €28,635 | €53,466 | +€24,831 | +86.7% |
| Tangible fixed assets | 22/27 | €28,635 | €53,466 | +€24,831 | +86.7% |
| Plant, machinery and equipment | 23 | - | €30,014 | +€30,014 | |
| Furniture and vehicles | 24 | €28,635 | €23,453 | -€5,182 | -18.1% |
| Current assets | 29/58 | €19,540 | €19,281 | -€259 | -1.3% |
| Amounts receivable within one year | 40/41 | €19,507 | €10,955 | -€8,551 | -43.8% |
| Trade receivables | 40 | €16,522 | €7,554 | -€8,968 | -54.3% |
| Other amounts receivable | 41 | €2,985 | €3,402 | +€417 | +14.0% |
| Cash at bank and in hand | 54/58 | €33 | €8,325 | +€8,292 | +24,863% |
| Total equity and liabilities | 10/49 | €49,820 | €72,747 | +€22,927 | +46.0% |
| Equity | 10/15 | €14,208 | €12,265 | -€1,943 | -13.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €14,108 | €12,165 | -€1,943 | -13.8% |
| Distributable reserves | 133 | €14,108 | €12,165 | -€1,943 | -13.8% |
| Amounts payable | 17/49 | €35,612 | €60,482 | +€24,870 | +69.8% |
| Amounts payable after more than one year | 17 | €21,230 | €15,992 | -€5,238 | -24.7% |
| Financial debts | 170/4 | €21,230 | €15,992 | -€5,238 | -24.7% |
| Amounts payable within one year | 42/48 | €14,095 | €43,758 | +€29,664 | +210% |
| Current portion of amounts payable after more than one year | 42 | €5,039 | €5,238 | +€199 | +3.9% |
| Trade debts | 44 | - | €1,327 | +€1,327 | |
| Suppliers | 440/4 | - | €1,327 | +€1,327 | |
| Taxes, remuneration and social security | 45 | €9,055 | €7,035 | -€2,020 | -22.3% |
| Taxes | 450/3 | €3,760 | €5,654 | +€1,894 | +50.4% |
| Remuneration and social security | 454/9 | €5,295 | €1,381 | -€3,914 | -73.9% |
| Other amounts payable | 47/48 | - | €30,157 | +€30,157 | |
| Accrued charges and deferred income | 492/3 | €288 | €732 | +€444 | +154% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,129 | €12,912 | +€10,783 | +507% |
| Other operating charges | 640/8 | €186 | €311 | +€125 | +67.4% |
| Gross operating margin | 9900 | €20,697 | €12,417 | -€8,280 | -40.0% |
| Operating profit (loss) | 9901 | €18,383 | -€806 | -€19,188 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €515 | €1,131 | +€616 | +120% |
| Recurring financial charges | 65 | €515 | €1,131 | +€616 | +120% |
| Profit (loss) for the period before taxes | 9903 | €17,868 | -€1,936 | -€19,804 | |
| Income taxes | 67/77 | €3,760 | €6 | -€3,754 | -99.8% |
| Profit (loss) for the period | 9904 | €14,108 | -€1,943 | -€16,050 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,108 | -€1,943 | -€16,050 |
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 28 October 2026 via checked.be.