NIELAN: what changed
Two fiscal 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.
NIELAN
Largest movements
- Current investments -€3,858
down €3,858 (-5.3%), from €73,002 to €69,144
- Tangible fixed assets -€3,735
down €3,735 (-4.3%), from €86,335 to €82,600
of which Land and buildings: -€3,624
- Other debts -€9,404
down €9,404 (-86.3%), from €10,895 to €1,491
- Profit (loss) carried forward +€5,656
no longer reported in 2025 (was -€5,656)
- Reserves -€5,082
down €5,082 (-5.5%), from €92,379 to €87,298
of which Distributable reserves: -€5,082
- Depreciation -€916
down €916 (-19.7%), from €4,651 to €3,735
- Gross operating margin -€229
down €229 (-3.3%), from €6,990 to €6,761
- Other operating charges +€193
up €193 (+8.6%), from €2,251 to €2,444
- Financial income +€79
up €79 (+158.7%), from €50 to €129
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 | €161,215 | €152,329 | -€8,886 | -5.5% |
| Fixed assets | 21/28 | €86,335 | €82,600 | -€3,735 | -4.3% |
| Tangible fixed assets | 22/27 | €86,335 | €82,600 | -€3,735 | -4.3% |
| Land and buildings | 22 | €85,992 | €82,369 | -€3,624 | -4.2% |
| Plant, machinery and equipment | 23 | €342 | €231 | -€111 | -32.5% |
| Current assets | 29/58 | €74,880 | €69,729 | -€5,151 | -6.9% |
| Current investments | 50/53 | €73,002 | €69,144 | -€3,858 | -5.3% |
| Cash at bank and in hand | 54/58 | €1,878 | €586 | -€1,293 | -68.8% |
| Total equity and liabilities | 10/49 | €161,215 | €152,329 | -€8,886 | -5.5% |
| Equity | 10/15 | €150,264 | €150,838 | +€575 | +0.4% |
| Contributions | 10/11 | €63,541 | €63,541 | = | 0.0% |
| Reserves | 13 | €92,379 | €87,298 | -€5,082 | -5.5% |
| Non-distributable reserves | 130/1 | €61,973 | €61,973 | = | 0.0% |
| Own shares acquired | 1312 | €61,973 | €61,973 | = | 0.0% |
| Distributable reserves | 133 | €30,406 | €25,324 | -€5,082 | -16.7% |
| Profit (loss) carried forward | 14 | -€5,656 | - | +€5,656 | |
| Amounts payable | 17/49 | €10,952 | €1,491 | -€9,461 | -86.4% |
| Amounts payable within one year | 42/48 | €10,952 | €1,491 | -€9,461 | -86.4% |
| Trade debts | 44 | €57 | - | -€57 | |
| Suppliers | 440/4 | €57 | - | -€57 | |
| Other amounts payable | 47/48 | €10,895 | €1,491 | -€9,404 | -86.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,651 | €3,735 | -€916 | -19.7% |
| Other operating charges | 640/8 | €2,251 | €2,444 | +€193 | +8.6% |
| Gross operating margin | 9900 | €6,990 | €6,761 | -€229 | -3.3% |
| Operating profit (loss) | 9901 | €89 | €583 | +€494 | +556.7% |
| Financial income | 75/76B | €50 | €129 | +€79 | +158.7% |
| Recurring financial income | 75 | €50 | €129 | +€79 | +158.7% |
| Financial charges | 65/66B | €131 | €137 | +€5 | +4.1% |
| Recurring financial charges | 65 | €131 | €137 | +€5 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €7 | €575 | +€567 | +7783.1% |
| Profit (loss) for the period | 9904 | €7 | €575 | +€567 | +7783.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7 | €575 | +€567 | +7783.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.