NIELO: 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.
NIELO
Largest movements
- Tangible fixed assets -€42,536
down €42,536 (-4.6%), from €934,449 to €891,913
of which Land and buildings: -€42,344
- Cash +€34,857
up €34,857 (+48.5%), from €71,896 to €106,753
mainly Depreciation (+€42,536) and Other debts (+€6,755)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin -€14,795
down €14,795 (-22.5%), from €65,885 to €51,090
- Other operating charges +€6,336
up €6,336 (+132%), from €4,803 to €11,139
- Taxes -€4,189
no longer reported in 2025 (was €4,189)
- Depreciation -€1,132
down €1,132 (-2.6%), from €43,668 to €42,536
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 | €1,006,346 | €1,002,667 | -€3,679 | -0.4% |
| Fixed assets | 21/28 | €934,449 | €891,913 | -€42,536 | -4.6% |
| Tangible fixed assets | 22/27 | €934,449 | €891,913 | -€42,536 | -4.6% |
| Land and buildings | 22 | €934,258 | €891,913 | -€42,344 | -4.5% |
| Furniture and vehicles | 24 | €192 | - | -€192 | |
| Current assets | 29/58 | €71,896 | €110,753 | +€38,857 | +54.0% |
| Amounts receivable within one year | 40/41 | - | €4,000 | +€4,000 | |
| Other amounts receivable | 41 | - | €4,000 | +€4,000 | |
| Cash at bank and in hand | 54/58 | €71,896 | €106,753 | +€34,857 | +48.5% |
| Total equity and liabilities | 10/49 | €1,006,346 | €1,002,667 | -€3,679 | -0.4% |
| Equity | 10/15 | €422,927 | €418,464 | -€4,463 | -1.1% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €22,927 | €18,464 | -€4,463 | -19.5% |
| Distributable reserves | 133 | €22,927 | €18,464 | -€4,463 | -19.5% |
| Amounts payable | 17/49 | €583,419 | €584,203 | +€784 | +0.1% |
| Amounts payable after more than one year | 17 | €71,417 | €65,072 | -€6,345 | -8.9% |
| Financial debts | 170/4 | €71,417 | €65,072 | -€6,345 | -8.9% |
| Amounts payable within one year | 42/48 | €512,002 | €519,131 | +€7,129 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €6,500 | €6,400 | -€100 | -1.5% |
| Trade debts | 44 | €169 | €643 | +€474 | +281% |
| Suppliers | 440/4 | €169 | €643 | +€474 | +281% |
| Taxes, remuneration and social security | 45 | €4,189 | €4,189 | = | 0.0% |
| Taxes | 450/3 | €4,189 | €4,189 | = | 0.0% |
| Other amounts payable | 47/48 | €501,144 | €507,899 | +€6,755 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,668 | €42,536 | -€1,132 | -2.6% |
| Other operating charges | 640/8 | €4,803 | €11,139 | +€6,336 | +132% |
| Gross operating margin | 9900 | €65,885 | €51,090 | -€14,795 | -22.5% |
| Operating profit (loss) | 9901 | €17,414 | -€2,585 | -€19,999 | |
| Financial charges | 65/66B | €2,039 | €1,878 | -€162 | -7.9% |
| Recurring financial charges | 65 | €2,039 | €1,878 | -€162 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €15,374 | -€4,463 | -€19,837 | |
| Income taxes | 67/77 | €4,189 | - | -€4,189 | |
| Profit (loss) for the period | 9904 | €11,185 | -€4,463 | -€15,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,185 | -€4,463 | -€15,648 |
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.