NIELCO: 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.
NIELCO
Largest movements
- Receivables after one year -€278,657
down €278,657 (-100%), from €278,657 to €0
- Cash +€103,471
up €103,471 (+18.5%), from €558,340 to €661,811
mainly Receivables after one year (+€278,657) and Net result for the year (+€212,669)
- Current investments +€33,999
up €33,999 (+8.4%), from €404,541 to €438,540
- Receivables within one year -€20,234
down €20,234 (-63.9%), from €31,652 to €11,417
of which Trade receivables: -€20,471
- Debts after one year -€291,514
down €291,514 (-93.0%), from €313,397 to €21,883
- Reserves +€97,869
up €97,869 (+10.9%), from €901,027 to €998,896
- Other debts +€29,752
up €29,752 (+12.3%), from €241,285 to €271,037
- Financial income +€38,214
up €38,214 (+267%), from €14,313 to €52,528
- Gross operating margin +€15,541
up €15,541 (+5.7%), from €271,782 to €287,323
- Financial charges +€6,844
up €6,844 (+99.1%), from €6,904 to €13,749
- Taxes +€3,224
up €3,224 (+4.1%), from €79,053 to €82,277
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 | €1,492,895 | €1,323,602 | -€169,293 | -11.3% |
| Fixed assets | 21/28 | €219,264 | €211,055 | -€8,210 | -3.7% |
| Tangible fixed assets | 22/27 | €219,264 | €211,055 | -€8,210 | -3.7% |
| Land and buildings | 22 | €186,366 | €179,518 | -€6,848 | -3.7% |
| Furniture and vehicles | 24 | €32,898 | €31,537 | -€1,361 | -4.1% |
| Current assets | 29/58 | €1,273,630 | €1,112,547 | -€161,083 | -12.6% |
| Amounts receivable after more than one year | 29 | €278,657 | €0 | -€278,657 | -100% |
| Other amounts receivable | 291 | €278,657 | €0 | -€278,657 | -100% |
| Amounts receivable within one year | 40/41 | €31,652 | €11,417 | -€20,234 | -63.9% |
| Trade receivables | 40 | €31,471 | €11,000 | -€20,471 | -65.0% |
| Other amounts receivable | 41 | €181 | €417 | +€236 | +130% |
| Current investments | 50/53 | €404,541 | €438,540 | +€33,999 | +8.4% |
| Cash at bank and in hand | 54/58 | €558,340 | €661,811 | +€103,471 | +18.5% |
| Deferred charges and accrued income | 490/1 | €441 | €779 | +€338 | +76.5% |
| Total equity and liabilities | 10/49 | €1,492,895 | €1,323,602 | -€169,293 | -11.3% |
| Equity | 10/15 | €901,027 | €998,896 | +€97,869 | +10.9% |
| Reserves | 13 | €901,027 | €998,896 | +€97,869 | +10.9% |
| Distributable reserves | 133 | €901,027 | €998,896 | +€97,869 | +10.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €591,868 | €324,706 | -€267,162 | -45.1% |
| Amounts payable after more than one year | 17 | €313,397 | €21,883 | -€291,514 | -93.0% |
| Financial debts | 170/4 | €313,397 | €21,883 | -€291,514 | -93.0% |
| Amounts payable within one year | 42/48 | €273,129 | €290,731 | +€17,602 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €12,657 | €12,857 | +€200 | +1.6% |
| Trade debts | 44 | €26 | €196 | +€169 | +640% |
| Suppliers | 440/4 | €26 | €196 | +€169 | +640% |
| Taxes, remuneration and social security | 45 | €19,161 | €6,641 | -€12,520 | -65.3% |
| Taxes | 450/3 | €19,161 | €6,641 | -€12,520 | -65.3% |
| Other amounts payable | 47/48 | €241,285 | €271,037 | +€29,752 | +12.3% |
| Accrued charges and deferred income | 492/3 | €5,342 | €12,093 | +€6,751 | +126% |
| Non-recurring operating income | 76A | €4,842 | €0 | -€4,842 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,617 | €17,161 | -€456 | -2.6% |
| Other operating charges | 640/8 | €2,490 | €2,825 | +€335 | +13.5% |
| Non-recurring operating charges | 66A | - | €11,170 | +€11,170 | |
| Gross operating margin | 9900 | €271,782 | €287,323 | +€15,541 | +5.7% |
| Operating profit (loss) | 9901 | €251,675 | €256,167 | +€4,491 | +1.8% |
| Financial income | 75/76B | €14,313 | €52,528 | +€38,214 | +267% |
| Recurring financial income | 75 | €14,313 | €52,528 | +€38,214 | +267% |
| Financial charges | 65/66B | €6,904 | €13,749 | +€6,844 | +99.1% |
| Recurring financial charges | 65 | €6,904 | €13,749 | +€6,844 | +99.1% |
| Profit (loss) for the period before taxes | 9903 | €259,085 | €294,946 | +€35,861 | +13.8% |
| Income taxes | 67/77 | €79,053 | €82,277 | +€3,224 | +4.1% |
| Profit (loss) for the period | 9904 | €180,032 | €212,669 | +€32,637 | +18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €180,032 | €212,669 | +€32,637 | +18.1% |
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 15 October 2026 via checked.be.