Nuance: 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.
Nuance
Largest movements
- Receivables within one year -€71,334
down €71,334 (-93.2%), from €76,501 to €5,168
of which Trade receivables: -€65,149
- Tangible fixed assets +€20,775
up €20,775 (+13.2%), from €157,531 to €178,306
of which Plant, machinery and equipment: +€32,786
- Cash +€6,393
up €6,393 (+6.6%), from €97,539 to €103,931
mainly Receivables within one year (+€71,334) and Net result for the year (+€20,003)
- Stocks and contracts -€5,742
down €5,742 (-8.4%), from €68,750 to €63,008
- Trade debts -€70,906
down €70,906 (-95.6%), from €74,194 to €3,288
- Reserves +€20,003
up €20,003 (+10.6%), from €189,438 to €209,441
of which Distributable reserves: +€20,003
- Staff costs +€12,594
up €12,594 (+7.1%), from €177,537 to €190,130
- Taxes -€3,896
down €3,896 (-29.1%), from €13,373 to €9,477
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.
Derived cash bridge
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 | €415,862 | €363,298 | -€52,564 | -12.6% |
| Fixed assets | 21/28 | €157,976 | €178,751 | +€20,775 | +13.2% |
| Tangible fixed assets | 22/27 | €157,531 | €178,306 | +€20,775 | +13.2% |
| Land and buildings | 22 | €112,414 | €103,476 | -€8,937 | -8.0% |
| Plant, machinery and equipment | 23 | €2,958 | €35,744 | +€32,786 | +1,109% |
| Furniture and vehicles | 24 | €37,691 | €35,560 | -€2,131 | -5.7% |
| Other tangible fixed assets | 26 | €4,469 | €3,526 | -€943 | -21.1% |
| Financial fixed assets | 28 | €445 | €445 | = | 0.0% |
| Current assets | 29/58 | €257,886 | €184,548 | -€73,339 | -28.4% |
| Stocks and contracts in progress | 3 | €68,750 | €63,008 | -€5,742 | -8.4% |
| Stocks | 30/36 | €68,750 | €63,008 | -€5,742 | -8.4% |
| Amounts receivable within one year | 40/41 | €76,501 | €5,168 | -€71,334 | -93.2% |
| Trade receivables | 40 | €69,709 | €4,561 | -€65,149 | -93.5% |
| Other amounts receivable | 41 | €6,792 | €607 | -€6,185 | -91.1% |
| Cash at bank and in hand | 54/58 | €97,539 | €103,931 | +€6,393 | +6.6% |
| Deferred charges and accrued income | 490/1 | €15,096 | €12,440 | -€2,656 | -17.6% |
| Total equity and liabilities | 10/49 | €415,862 | €363,298 | -€52,564 | -12.6% |
| Equity | 10/15 | €297,917 | €317,087 | +€19,170 | +6.4% |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Reserves | 13 | €189,438 | €209,441 | +€20,003 | +10.6% |
| Tax-exempt reserves | 132 | €55 | €55 | = | 0.0% |
| Distributable reserves | 133 | €189,383 | €209,386 | +€20,003 | +10.6% |
| Profit (loss) carried forward | 14 | €18,479 | €17,646 | -€833 | -4.5% |
| Amounts payable | 17/49 | €117,945 | €46,211 | -€71,735 | -60.8% |
| Amounts payable within one year | 42/48 | €117,945 | €46,211 | -€71,735 | -60.8% |
| Current portion of amounts payable after more than one year | 42 | €3,763 | - | -€3,763 | |
| Trade debts | 44 | €74,194 | €3,288 | -€70,906 | -95.6% |
| Suppliers | 440/4 | €74,194 | €3,288 | -€70,906 | -95.6% |
| Taxes, remuneration and social security | 45 | €21,877 | €21,112 | -€766 | -3.5% |
| Taxes | 450/3 | €8,214 | €3,911 | -€4,302 | -52.4% |
| Remuneration and social security | 454/9 | €13,664 | €17,200 | +€3,537 | +25.9% |
| Other amounts payable | 47/48 | €18,111 | €21,811 | +€3,700 | +20.4% |
| Remuneration, social security and pensions | 62 | €177,537 | €190,130 | +€12,594 | +7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,238 | €18,304 | +€1,067 | +6.2% |
| Other operating charges | 640/8 | €4,659 | €4,519 | -€140 | -3.0% |
| Gross operating margin | 9900 | €248,246 | €248,793 | +€546 | +0.2% |
| Operating profit (loss) | 9901 | €48,813 | €35,839 | -€12,974 | -26.6% |
| Financial income | 75/76B | €551 | €279 | -€272 | -49.3% |
| Recurring financial income | 75 | €551 | €279 | -€272 | -49.3% |
| Financial charges | 65/66B | €5,071 | €6,638 | +€1,567 | +30.9% |
| Recurring financial charges | 65 | €5,071 | €6,638 | +€1,567 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €44,293 | €29,480 | -€14,813 | -33.4% |
| Income taxes | 67/77 | €13,373 | €9,477 | -€3,896 | -29.1% |
| Profit (loss) for the period | 9904 | €30,920 | €20,003 | -€10,917 | -35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €30,920 | €20,003 | -€10,917 | -35.3% |
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 28 October 2026 via checked.be.