NIGEL: 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.
NIGEL
Largest movements
- Receivables within one year -€8,829
down €8,829 (-21.1%), from €41,811 to €32,981
of which Trade receivables: -€4,460
- Tangible fixed assets +€7,837
up €7,837 (+204.7%), from €3,829 to €11,667
of which Other tangible fixed assets: +€5,358
- Cash -€2,980
down €2,980 (-59.5%), from €5,008 to €2,029
mainly Contributions, distributions and other (-€29,738) and Investment in fixed assets (net) (-€12,328)
- Reserves -€22,190
down €22,190 (-95.7%), from €23,190 to €1,000
- Other debts +€14,554
up €14,554 (+91.0%), from €16,000 to €30,554
- Short-term financial debts +€4,399
new in 2025: €4,399
- Tax, wage and social debts -€4,376
down €4,376 (-41.1%), from €10,644 to €6,268
- Current portion of long-term debt +€1,279
new in 2025: €1,279
- Gross operating margin -€23,893
down €23,893 (-61.3%), from €38,998 to €15,105
- Taxes -€4,940
down €4,940 (-57.2%), from €8,641 to €3,701
- Depreciation +€2,008
up €2,008 (+80.9%), from €2,483 to €4,491
- Financial income +€1,044
up €1,044 (+377.6%), from €277 to €1,321
- Other operating charges -€882
down €882 (-83.9%), from €1,051 to €169
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 | €51,771 | €47,295 | -€4,475 | -8.6% |
| Fixed assets | 21/28 | €3,829 | €11,667 | +€7,837 | +204.7% |
| Tangible fixed assets | 22/27 | €3,829 | €11,667 | +€7,837 | +204.7% |
| Furniture and vehicles | 24 | €907 | €3,385 | +€2,479 | +273.5% |
| Other tangible fixed assets | 26 | €2,923 | €8,281 | +€5,358 | +183.3% |
| Current assets | 29/58 | €47,941 | €35,628 | -€12,313 | -25.7% |
| Amounts receivable within one year | 40/41 | €41,811 | €32,981 | -€8,829 | -21.1% |
| Trade receivables | 40 | €12,251 | €7,791 | -€4,460 | -36.4% |
| Other amounts receivable | 41 | €29,560 | €25,190 | -€4,370 | -14.8% |
| Cash at bank and in hand | 54/58 | €5,008 | €2,029 | -€2,980 | -59.5% |
| Deferred charges and accrued income | 490/1 | €1,122 | €618 | -€504 | -44.9% |
| Total equity and liabilities | 10/49 | €51,771 | €47,295 | -€4,475 | -8.6% |
| Equity | 10/15 | €24,190 | €2,000 | -€22,190 | -91.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €23,190 | €1,000 | -€22,190 | -95.7% |
| Distributable reserves | 133 | €23,190 | €1,000 | -€22,190 | -95.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €27,580 | €45,295 | +€17,715 | +64.2% |
| Amounts payable after more than one year | 17 | - | €657 | +€657 | |
| Financial debts | 170/4 | - | €657 | +€657 | |
| Amounts payable within one year | 42/48 | €26,707 | €43,694 | +€16,988 | +63.6% |
| Current portion of amounts payable after more than one year | 42 | - | €1,279 | +€1,279 | |
| Financial debts | 43 | - | €4,399 | +€4,399 | |
| Other loans | 439 | - | €4,399 | +€4,399 | |
| Trade debts | 44 | €63 | €1,195 | +€1,132 | +1799.4% |
| Suppliers | 440/4 | €63 | €1,195 | +€1,132 | +1799.4% |
| Taxes, remuneration and social security | 45 | €10,644 | €6,268 | -€4,376 | -41.1% |
| Taxes | 450/3 | €10,644 | €6,268 | -€4,376 | -41.1% |
| Other amounts payable | 47/48 | €16,000 | €30,554 | +€14,554 | +91.0% |
| Accrued charges and deferred income | 492/3 | €874 | €944 | +€70 | +8.1% |
| Remuneration, social security and pensions | 62 | €311 | €202 | -€109 | -35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,483 | €4,491 | +€2,008 | +80.9% |
| Other operating charges | 640/8 | €1,051 | €169 | -€882 | -83.9% |
| Gross operating margin | 9900 | €38,998 | €15,105 | -€23,893 | -61.3% |
| Operating profit (loss) | 9901 | €35,153 | €10,243 | -€24,910 | -70.9% |
| Financial income | 75/76B | €277 | €1,321 | +€1,044 | +377.6% |
| Recurring financial income | 75 | €277 | €1,321 | +€1,044 | +377.6% |
| Financial charges | 65/66B | €534 | €315 | -€219 | -41.1% |
| Recurring financial charges | 65 | €534 | €315 | -€219 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €34,895 | €11,249 | -€23,647 | -67.8% |
| Income taxes | 67/77 | €8,641 | €3,701 | -€4,940 | -57.2% |
| Profit (loss) for the period | 9904 | €26,254 | €7,547 | -€18,706 | -71.3% |
| Profit (loss) for the period to be appropriated | 9905 | €26,254 | €7,547 | -€18,706 | -71.3% |
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 30 September 2026 via checked.be.