NUANS: 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.
NUANS
Largest movements
- Stocks and contracts +€84,273
up €84,273 (+18.6%), from €453,456 to €537,730
of which Stocks: +€84,273
- Cash -€43,851
down €43,851 (-42.4%), from €103,461 to €59,610
mainly Stocks and contracts (-€84,273) and Trade debts (-€40,267)
- Tangible fixed assets -€41,065
down €41,065 (-23.7%), from €173,089 to €132,024
- Receivables within one year -€39,252
down €39,252 (-27.0%), from €145,132 to €105,880
of which Trade receivables: -€30,493
- Deferred charges and accrued income -€13,042
down €13,042 (-32.1%), from €40,609 to €27,566
- Reserves +€63,641
up €63,641 (+11.2%), from €569,908 to €633,549
- Trade debts -€40,267
down €40,267 (-42.6%), from €94,474 to €54,208
- Tax, wage and social debts -€37,389
down €37,389 (-60.7%), from €61,646 to €24,257
of which Taxes: -€33,206
- Debts after one year -€33,645
down €33,645 (-49.1%), from €68,569 to €34,924
- Gross operating margin -€239,152
down €239,152 (-49.9%), from €479,012 to €239,860
- Taxes -€50,762
down €50,762 (-69.3%), from €73,269 to €22,507
- Staff costs -€14,779
down €14,779 (-13.0%), from €113,998 to €99,220
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 | €919,748 | €866,810 | -€52,937 | -5.8% |
| Fixed assets | 21/28 | €177,089 | €136,024 | -€41,065 | -23.2% |
| Tangible fixed assets | 22/27 | €173,089 | €132,024 | -€41,065 | -23.7% |
| Plant, machinery and equipment | 23 | €10,927 | €3,352 | -€7,575 | -69.3% |
| Furniture and vehicles | 24 | €88,868 | €69,911 | -€18,957 | -21.3% |
| Other tangible fixed assets | 26 | €73,294 | €58,761 | -€14,533 | -19.8% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €742,659 | €730,786 | -€11,872 | -1.6% |
| Stocks and contracts in progress | 3 | €453,456 | €537,730 | +€84,273 | +18.6% |
| Stocks | 30/36 | €453,456 | €537,730 | +€84,273 | +18.6% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €145,132 | €105,880 | -€39,252 | -27.0% |
| Trade receivables | 40 | €131,314 | €100,821 | -€30,493 | -23.2% |
| Other amounts receivable | 41 | €13,818 | €5,059 | -€8,759 | -63.4% |
| Cash at bank and in hand | 54/58 | €103,461 | €59,610 | -€43,851 | -42.4% |
| Deferred charges and accrued income | 490/1 | €40,609 | €27,566 | -€13,042 | -32.1% |
| Total equity and liabilities | 10/49 | €919,748 | €866,810 | -€52,937 | -5.8% |
| Equity | 10/15 | €598,445 | €662,086 | +€63,641 | +10.6% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €569,908 | €633,549 | +€63,641 | +11.2% |
| Distributable reserves | 133 | €569,908 | €633,549 | +€63,641 | +11.2% |
| Profit (loss) carried forward | 14 | €7,537 | €7,537 | = | 0.0% |
| Amounts payable | 17/49 | €321,302 | €204,724 | -€116,578 | -36.3% |
| Amounts payable after more than one year | 17 | €68,569 | €34,924 | -€33,645 | -49.1% |
| Financial debts | 170/4 | €68,569 | €34,924 | -€33,645 | -49.1% |
| Amounts payable within one year | 42/48 | €252,101 | €169,800 | -€82,301 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €38,401 | €33,645 | -€4,756 | -12.4% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €94,474 | €54,208 | -€40,267 | -42.6% |
| Suppliers | 440/4 | €94,474 | €54,208 | -€40,267 | -42.6% |
| Taxes, remuneration and social security | 45 | €61,646 | €24,257 | -€37,389 | -60.7% |
| Taxes | 450/3 | €47,903 | €14,697 | -€33,206 | -69.3% |
| Remuneration and social security | 454/9 | €13,742 | €9,560 | -€4,182 | -30.4% |
| Other amounts payable | 47/48 | €57,580 | €57,691 | +€110 | +0.2% |
| Accrued charges and deferred income | 492/3 | €632 | €0 | -€632 | -100% |
| Remuneration, social security and pensions | 62 | €113,998 | €99,220 | -€14,779 | -13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,375 | €48,792 | -€1,583 | -3.1% |
| Other operating charges | 640/8 | €3,361 | €3,892 | +€531 | +15.8% |
| Gross operating margin | 9900 | €479,012 | €239,860 | -€239,152 | -49.9% |
| Operating profit (loss) | 9901 | €311,277 | €87,957 | -€223,321 | -71.7% |
| Financial income | 75/76B | €3,341 | €2,875 | -€466 | -13.9% |
| Recurring financial income | 75 | €3,341 | €2,875 | -€466 | -13.9% |
| Financial charges | 65/66B | €5,725 | €4,684 | -€1,040 | -18.2% |
| Recurring financial charges | 65 | €5,725 | €4,684 | -€1,040 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €308,894 | €86,148 | -€222,747 | -72.1% |
| Income taxes | 67/77 | €73,269 | €22,507 | -€50,762 | -69.3% |
| Profit (loss) for the period | 9904 | €235,625 | €63,641 | -€171,984 | -73.0% |
| Profit (loss) for the period to be appropriated | 9905 | €235,625 | €63,641 | -€171,984 | -73.0% |
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 13 October 2026 via checked.be.