NIELSEN: 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.
NIELSEN
Largest movements
- Receivables within one year -€163,764
down €163,764 (-96.8%), from €169,222 to €5,458
of which Trade receivables: -€166,132
- Tangible fixed assets -€32,282
down €32,282 (-6.4%), from €501,522 to €469,241
of which Land and buildings: -€23,667
- Cash +€25,764
up €25,764 (+2504.5%), from €1,029 to €26,793
mainly Receivables within one year (+€163,764) and Other debts (+€77,279)
- Trade debts -€150,171
down €150,171 (-71.3%), from €210,748 to €60,577
of which Suppliers: -€151,900
- Other debts +€77,279
up €77,279 (+104.2%), from €74,144 to €151,423
- Tax, wage and social debts -€48,303
down €48,303 (-51.7%), from €93,414 to €45,110
- Debts after one year -€46,997
down €46,997 (-16.3%), from €289,125 to €242,128
- Gross operating margin -€217,614
down €217,614 (-81.9%), from €265,742 to €48,128
- Financial charges -€47,736
down €47,736 (-83.6%), from €57,108 to €9,373
- Taxes -€45,227
down €45,227 (-94.5%), from €47,835 to €2,608
- Depreciation -€3,832
down €3,832 (-9.5%), from €40,286 to €36,454
- Other operating charges +€3,292
up €3,292 (+858.5%), from €383 to €3,675
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 | €2,046,813 | €1,876,545 | -€170,268 | -8.3% |
| Fixed assets | 21/28 | €1,876,562 | €1,844,281 | -€32,282 | -1.7% |
| Tangible fixed assets | 22/27 | €501,522 | €469,241 | -€32,282 | -6.4% |
| Land and buildings | 22 | €457,562 | €433,895 | -€23,667 | -5.2% |
| Plant, machinery and equipment | 23 | €20,423 | €12,970 | -€7,452 | -36.5% |
| Furniture and vehicles | 24 | €4,680 | €3,517 | -€1,162 | -24.8% |
| Other tangible fixed assets | 26 | €18,858 | €18,858 | = | 0.0% |
| Financial fixed assets | 28 | €1,375,040 | €1,375,040 | = | 0.0% |
| Current assets | 29/58 | €170,251 | €32,265 | -€137,986 | -81.0% |
| Amounts receivable within one year | 40/41 | €169,222 | €5,458 | -€163,764 | -96.8% |
| Trade receivables | 40 | €166,132 | - | -€166,132 | |
| Other amounts receivable | 41 | €3,090 | €5,458 | +€2,367 | +76.6% |
| Cash at bank and in hand | 54/58 | €1,029 | €26,793 | +€25,764 | +2504.5% |
| Deferred charges and accrued income | 490/1 | - | €14 | +€14 | |
| Total equity and liabilities | 10/49 | €2,046,813 | €1,876,545 | -€170,268 | -8.3% |
| Equity | 10/15 | €526,607 | €522,625 | -€3,981 | -0.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Share premium | 1100/10 | - | €18,592 | +€18,592 | |
| Other | 1109/19 | €18,592 | - | -€18,592 | |
| Reserves | 13 | €226,933 | €226,933 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €206,324 | €208,183 | +€1,859 | +0.9% |
| Profit (loss) carried forward | 14 | €281,082 | €277,100 | -€3,981 | -1.4% |
| Amounts payable | 17/49 | €1,520,206 | €1,353,920 | -€166,286 | -10.9% |
| Amounts payable after more than one year | 17 | €289,125 | €242,128 | -€46,997 | -16.3% |
| Financial debts | 170/4 | €289,125 | €242,128 | -€46,997 | -16.3% |
| Amounts payable within one year | 42/48 | €1,231,081 | €1,111,792 | -€119,290 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €45,091 | €46,997 | +€1,905 | +4.2% |
| Financial debts | 43 | €807,685 | €807,685 | = | 0.0% |
| Credit institutions | 430/8 | €807,685 | €807,685 | = | 0.0% |
| Trade debts | 44 | €210,748 | €60,577 | -€150,171 | -71.3% |
| Suppliers | 440/4 | €210,748 | €58,847 | -€151,900 | -72.1% |
| Bills of exchange payable | 441 | - | €1,730 | +€1,730 | |
| Taxes, remuneration and social security | 45 | €93,414 | €45,110 | -€48,303 | -51.7% |
| Taxes | 450/3 | €93,414 | €45,110 | -€48,303 | -51.7% |
| Other amounts payable | 47/48 | €74,144 | €151,423 | +€77,279 | +104.2% |
| Non-recurring operating income | 76A | - | €2,606 | +€2,606 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,286 | €36,454 | -€3,832 | -9.5% |
| Other operating charges | 640/8 | €383 | €3,675 | +€3,292 | +858.5% |
| Gross operating margin | 9900 | €265,742 | €48,128 | -€217,614 | -81.9% |
| Operating profit (loss) | 9901 | €225,073 | €7,999 | -€217,074 | -96.4% |
| Financial income | 75/76B | €496 | - | -€496 | |
| Recurring financial income | 75 | €496 | - | -€496 | |
| Financial charges | 65/66B | €57,108 | €9,373 | -€47,736 | -83.6% |
| Recurring financial charges | 65 | €57,108 | €9,373 | -€47,736 | -83.6% |
| Profit (loss) for the period before taxes | 9903 | €168,461 | -€1,374 | -€169,834 | |
| Income taxes | 67/77 | €47,835 | €2,608 | -€45,227 | -94.5% |
| Profit (loss) for the period | 9904 | €120,625 | -€3,981 | -€124,607 | |
| Profit (loss) for the period to be appropriated | 9905 | €120,625 | -€3,981 | -€124,607 |
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.