NIELSATOR: 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.
NIELSATOR
Largest movements
- Receivables within one year -€43,741
down €43,741 (-40.8%), from €107,182 to €63,441
of which Trade receivables: -€43,915
- Tangible fixed assets -€29,944
down €29,944 (-9.5%), from €313,723 to €283,780
of which Land and buildings: -€29,409
- Cash -€8,768
down €8,768 (-76.4%), from €11,483 to €2,715
mainly Trade debts (-€72,663) and Net result for the year (-€39,794)
- Trade debts -€72,663
down €72,663 (-71.8%), from €101,211 to €28,548
- Profit (loss) carried forward -€39,794
down €39,794 (-52.2%), from -€76,223 to -€116,017
- Other debts +€29,955
up €29,955 (+7.7%), from €386,996 to €416,950
- Gross operating margin +€18,830
up €18,830 (+76.1%), from -€24,744 to -€5,914
- Other operating charges +€1,345
up €1,345 (+87.8%), from €1,533 to €2,878
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 | €432,389 | €349,936 | -€82,453 | -19.1% |
| Fixed assets | 21/28 | €313,723 | €283,780 | -€29,944 | -9.5% |
| Tangible fixed assets | 22/27 | €313,723 | €283,780 | -€29,944 | -9.5% |
| Land and buildings | 22 | €313,189 | €283,780 | -€29,409 | -9.4% |
| Furniture and vehicles | 24 | €535 | - | -€535 | |
| Current assets | 29/58 | €118,665 | €66,156 | -€52,509 | -44.2% |
| Amounts receivable within one year | 40/41 | €107,182 | €63,441 | -€43,741 | -40.8% |
| Trade receivables | 40 | €101,887 | €57,973 | -€43,915 | -43.1% |
| Other amounts receivable | 41 | €5,295 | €5,468 | +€174 | +3.3% |
| Cash at bank and in hand | 54/58 | €11,483 | €2,715 | -€8,768 | -76.4% |
| Total equity and liabilities | 10/49 | €432,389 | €349,936 | -€82,453 | -19.1% |
| Equity | 10/15 | -€55,818 | -€95,612 | -€39,794 | -71.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Other | 1319 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,223 | -€116,017 | -€39,794 | -52.2% |
| Amounts payable | 17/49 | €488,206 | €445,548 | -€42,659 | -8.7% |
| Amounts payable within one year | 42/48 | €488,206 | €445,498 | -€42,708 | -8.7% |
| Trade debts | 44 | €101,211 | €28,548 | -€72,663 | -71.8% |
| Suppliers | 440/4 | €101,211 | €28,548 | -€72,663 | -71.8% |
| Other amounts payable | 47/48 | €386,996 | €416,950 | +€29,955 | +7.7% |
| Accrued charges and deferred income | 492/3 | - | €50 | +€50 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,983 | €29,944 | -€39 | -0.1% |
| Other operating charges | 640/8 | €1,533 | €2,878 | +€1,345 | +87.8% |
| Gross operating margin | 9900 | -€24,744 | -€5,914 | +€18,830 | +76.1% |
| Operating profit (loss) | 9901 | -€56,260 | -€38,735 | +€17,524 | +31.1% |
| Financial charges | 65/66B | €210 | €357 | +€147 | +70.1% |
| Recurring financial charges | 65 | €210 | €357 | +€147 | +70.1% |
| Profit (loss) for the period before taxes | 9903 | -€56,469 | -€39,092 | +€17,377 | +30.8% |
| Income taxes | 67/77 | €735 | €702 | -€33 | -4.4% |
| Profit (loss) for the period | 9904 | -€57,204 | -€39,794 | +€17,410 | +30.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€57,204 | -€39,794 | +€17,410 | +30.4% |
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 11 October 2026 via checked.be.