NILSEN: 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.
NILSEN
Largest movements
- Receivables within one year +€1.4m
up €1.4m (+269.4%), from €523,069 to €1.9m
of which Trade receivables: +€1.4m
- Stocks and contracts -€182,718
down €182,718 (-100.0%), from €182,718 to €0
- Tangible fixed assets -€163,804
down €163,804 (-18.8%), from €871,037 to €707,233
of which Land and buildings: -€98,251
- Cash -€70,557
down €70,557 (-73.6%), from €95,892 to €25,336
mainly Receivables within one year (-€1.4m) and Contributions, distributions and other (-€1.1m)
- Other debts +€1.2m
up €1.2m (+317.0%), from €365,383 to €1.5m
- Short-term financial debts -€100,210
down €100,210 (-50.0%), from €200,274 to €100,064
- Trade debts +€83,314
up €83,314 (+29.4%), from €283,026 to €366,339
- Tax, wage and social debts -€77,149
down €77,149 (-75.7%), from €101,954 to €24,805
of which Remuneration and social security: -€79,597
- Debts after one year -€47,015
down €47,015 (-46.1%), from €101,897 to €54,882
- Gross operating margin +€931,294
up €931,294 (+136.2%), from €683,749 to €1.6m
- Provisions +€93,366
up €93,366, from -€93,366 to €0
- Depreciation -€18,979
down €18,979 (-31.0%), from €61,137 to €42,158
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 | €1,681,089 | €2,671,928 | +€990,838 | +58.9% |
| Fixed assets | 21/28 | €872,148 | €708,345 | -€163,804 | -18.8% |
| Tangible fixed assets | 22/27 | €871,037 | €707,233 | -€163,804 | -18.8% |
| Land and buildings | 22 | €782,764 | €684,513 | -€98,251 | -12.6% |
| Plant, machinery and equipment | 23 | €39,930 | €1,345 | -€38,585 | -96.6% |
| Furniture and vehicles | 24 | €47,542 | €20,574 | -€26,968 | -56.7% |
| Other tangible fixed assets | 26 | €800 | €800 | = | 0.0% |
| Financial fixed assets | 28 | €1,112 | €1,112 | = | 0.0% |
| Current assets | 29/58 | €808,941 | €1,963,583 | +€1.2m | +142.7% |
| Stocks and contracts in progress | 3 | €182,718 | €0 | -€182,718 | -100.0% |
| Stocks | 30/36 | €182,718 | €0 | -€182,718 | -100.0% |
| Amounts receivable within one year | 40/41 | €523,069 | €1,932,148 | +€1.4m | +269.4% |
| Trade receivables | 40 | €23,511 | €1,425,971 | +€1.4m | +5965.1% |
| Other amounts receivable | 41 | €499,558 | €506,177 | +€6,619 | +1.3% |
| Cash at bank and in hand | 54/58 | €95,892 | €25,336 | -€70,557 | -73.6% |
| Deferred charges and accrued income | 490/1 | €7,261 | €6,099 | -€1,162 | -16.0% |
| Total equity and liabilities | 10/49 | €1,681,089 | €2,671,928 | +€990,838 | +58.9% |
| Equity | 10/15 | €528,271 | €532,408 | +€4,137 | +0.8% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €503,482 | €507,619 | +€4,137 | +0.8% |
| Distributable reserves | 133 | €503,482 | €507,619 | +€4,137 | +0.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Provisions for liabilities and charges | 160/5 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €0 | - | = | |
| Amounts payable | 17/49 | €1,152,818 | €2,139,520 | +€986,702 | +85.6% |
| Amounts payable after more than one year | 17 | €101,897 | €54,882 | -€47,015 | -46.1% |
| Financial debts | 170/4 | €101,897 | €54,882 | -€47,015 | -46.1% |
| Amounts payable within one year | 42/48 | €1,050,921 | €2,084,613 | +€1.0m | +98.4% |
| Current portion of amounts payable after more than one year | 42 | €100,284 | €69,828 | -€30,456 | -30.4% |
| Financial debts | 43 | €200,274 | €100,064 | -€100,210 | -50.0% |
| Credit institutions | 430/8 | €200,274 | €100,064 | -€100,210 | -50.0% |
| Trade debts | 44 | €283,026 | €366,339 | +€83,314 | +29.4% |
| Suppliers | 440/4 | €283,026 | €366,339 | +€83,314 | +29.4% |
| Taxes, remuneration and social security | 45 | €101,954 | €24,805 | -€77,149 | -75.7% |
| Taxes | 450/3 | €22,357 | €24,805 | +€2,448 | +11.0% |
| Remuneration and social security | 454/9 | €79,597 | €0 | -€79,597 | -100.0% |
| Other amounts payable | 47/48 | €365,383 | €1,523,576 | +€1.2m | +317.0% |
| Accrued charges and deferred income | 492/3 | - | €26 | +€26 | |
| Non-recurring operating income | 76A | €0 | €807,992 | +€807,992 | |
| Remuneration, social security and pensions | 62 | €439,958 | €435,267 | -€4,691 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,137 | €42,158 | -€18,979 | -31.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,399 | -€7,613 | -€11,013 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€93,366 | €0 | +€93,366 | |
| Other operating charges | 640/8 | €15,975 | €11,059 | -€4,916 | -30.8% |
| Non-recurring operating charges | 66A | €63,054 | €18,310 | -€44,744 | -71.0% |
| Gross operating margin | 9900 | €683,749 | €1,615,043 | +€931,294 | +136.2% |
| Operating profit (loss) | 9901 | €193,593 | €1,115,863 | +€922,270 | +476.4% |
| Financial income | 75/76B | €4,021 | €6,125 | +€2,104 | +52.3% |
| Recurring financial income | 75 | €4,021 | €6,125 | +€2,104 | +52.3% |
| Financial charges | 65/66B | €29,449 | €27,940 | -€1,509 | -5.1% |
| Recurring financial charges | 65 | €29,449 | €27,940 | -€1,509 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €168,164 | €1,094,048 | +€925,884 | +550.6% |
| Income taxes | 67/77 | €7,545 | €9,911 | +€2,366 | +31.4% |
| Profit (loss) for the period | 9904 | €160,619 | €1,084,137 | +€923,518 | +575.0% |
| Profit (loss) for the period to be appropriated | 9905 | €160,619 | €1,084,137 | +€923,518 | +575.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.