NSE HOLDING: what changed
What changed
NSE HOLDING
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
-€16,062
2024 · €9,768-€25,830
Equity
€11.3m
2024 · €11.3m-€16,062
Cash
€183
2024 · €313-€130
Balance sheet total
€11.9m
2024 · €12.0m-€51,864
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Turnover -€207,500
down €207,500 (-100%), from €207,500 to €0
- Services and other goods -€197,145
down €197,145 (-98.4%), from €200,298 to €3,153
- Financial income -€14,037
no longer reported in 2025 (was €14,037)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€9,768
Turnover
-€207,500
Services and other goods
+€197,145
Other operating charges
-€255
Financial income
-€14,037
Financial charges
-€1,042
Taxes
-€142
Result 2025
-€16,062
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€50,648
Investment
€0
Financing
+€50,518
Cash 2024
€313
From operations (derived)
-€50,648
Net result for the year
-€16,062
Receivables after one year
+€73,000
Receivables within one year
-€21,265
Trade debts
-€86,320
Financing
+€50,518
Debts after one year
+€50,518
Cash 2025
€183
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,000,737 | €11,948,873 | -€51,864 | -0.4% |
| Fixed assets | 21/28 | €9,046,000 | €9,046,000 | = | 0.0% |
| Financial fixed assets | 28 | €9,046,000 | €9,046,000 | = | 0.0% |
| Affiliated companies | 280/1 | €9,046,000 | €9,046,000 | = | 0.0% |
| Participating interests | 280 | €9,046,000 | €9,046,000 | = | 0.0% |
| Current assets | 29/58 | €2,954,737 | €2,902,873 | -€51,864 | -1.8% |
| Amounts receivable after more than one year | 29 | €2,775,737 | €2,702,737 | -€73,000 | -2.6% |
| Other amounts receivable | 291 | €2,775,737 | €2,702,737 | -€73,000 | -2.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €178,687 | €199,953 | +€21,265 | +11.9% |
| Trade receivables | 40 | €172,425 | €78,680 | -€93,745 | -54.4% |
| Other amounts receivable | 41 | €6,262 | €121,273 | +€115,011 | +1,837% |
| Cash at bank and in hand | 54/58 | €313 | €183 | -€130 | -41.5% |
| Total equity and liabilities | 10/49 | €12,000,737 | €11,948,873 | -€51,864 | -0.4% |
| Equity | 10/15 | €11,275,742 | €11,259,680 | -€16,062 | -0.1% |
| Contributions | 10/11 | €7,575,728 | €7,575,728 | = | 0.0% |
| Capital | 10 | €7,575,728 | €7,575,728 | = | 0.0% |
| Issued capital | 100 | €7,575,728 | €7,575,728 | = | 0.0% |
| Reserves | 13 | €3,700,014 | €3,700,014 | = | 0.0% |
| Non-distributable reserves | 130/1 | €110,174 | €110,174 | +€0 | 0.0% |
| Legal reserve | 130 | €110,174 | €110,174 | +€0 | 0.0% |
| Distributable reserves | 133 | €3,589,840 | €3,589,840 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | - | -€16,062 | -€16,062 | |
| Amounts payable | 17/49 | €724,996 | €689,193 | -€35,802 | -4.9% |
| Amounts payable after more than one year | 17 | €638,676 | €689,193 | +€50,518 | +7.9% |
| Financial debts | 170/4 | €638,676 | €689,193 | +€50,518 | +7.9% |
| Other loans | 174 | €638,676 | €689,193 | +€50,518 | +7.9% |
| Amounts payable within one year | 42/48 | €86,320 | €0 | -€86,320 | -100% |
| Trade debts | 44 | €86,320 | €0 | -€86,320 | -100% |
| Suppliers | 440/4 | €86,320 | €0 | -€86,320 | -100% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Operating income | 70/76A | €207,500 | €0 | -€207,500 | -100% |
| Turnover | 70 | €207,500 | €0 | -€207,500 | -100% |
| Operating charges | 60/66A | €201,296 | €4,406 | -€196,890 | -97.8% |
| Services and other goods | 61 | €200,298 | €3,153 | -€197,145 | -98.4% |
| Other operating charges | 640/8 | €998 | €1,252 | +€255 | +25.6% |
| Operating profit (loss) | 9901 | €6,204 | -€4,406 | -€10,610 | |
| Financial income | 75/76B | €14,037 | - | -€14,037 | |
| Recurring financial income | 75 | €14,037 | - | -€14,037 | |
| Income from financial fixed assets | 750 | €0 | - | = | |
| Income from current assets | 751 | €14,037 | - | -€14,037 | |
| Financial charges | 65/66B | €10,473 | €11,515 | +€1,042 | +9.9% |
| Recurring financial charges | 65 | €10,473 | €11,515 | +€1,042 | +9.9% |
| Debt charges | 650 | €10,473 | €11,515 | +€1,042 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €9,768 | -€15,920 | -€25,688 | |
| Income taxes | 67/77 | - | €142 | +€142 | |
| Taxes | 670/3 | - | €142 | +€142 | |
| Profit (loss) for the period | 9904 | €9,768 | -€16,062 | -€25,830 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,768 | -€16,062 | -€25,830 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.