NUDE: 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.
NUDE
Largest movements
- Tangible fixed assets +€189,115
up €189,115 (+53.0%), from €356,985 to €546,100
of which Other tangible fixed assets: +€140,897
- Receivables within one year -€137,665
down €137,665 (-91.5%), from €150,489 to €12,824
of which Other amounts receivable: -€141,047
- Intangible fixed assets +€50,571
up €50,571 (+1580.1%), from €3,201 to €53,772
- Stocks and contracts +€43,836
up €43,836 (+124.4%), from €35,242 to €79,078
- Debts after one year +€64,626
up €64,626 (+27.4%), from €235,801 to €300,427
- Trade debts +€43,793
up €43,793 (+48.0%), from €91,256 to €135,050
- Profit (loss) carried forward +€43,053
up €43,053 (+274.6%), from €15,681 to €58,734
- Gross operating margin +€430,602
up €430,602 (+65.5%), from €657,539 to €1.1m
- Staff costs +€371,304
up €371,304 (+75.6%), from €491,435 to €862,739
- Depreciation +€42,680
up €42,680 (+45.5%), from €93,831 to €136,511
- Financial charges -€11,964
down €11,964 (-33.1%), from €36,100 to €24,136
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 | €692,430 | €844,905 | +€152,475 | +22.0% |
| Formation expenses | 20 | €3,785 | €2,911 | -€874 | -23.1% |
| Fixed assets | 21/28 | €373,073 | €616,700 | +€243,626 | +65.3% |
| Intangible fixed assets | 21 | €3,201 | €53,772 | +€50,571 | +1580.1% |
| Tangible fixed assets | 22/27 | €356,985 | €546,100 | +€189,115 | +53.0% |
| Plant, machinery and equipment | 23 | €123,024 | €171,242 | +€48,218 | +39.2% |
| Other tangible fixed assets | 26 | €233,961 | €374,858 | +€140,897 | +60.2% |
| Financial fixed assets | 28 | €12,888 | €16,828 | +€3,940 | +30.6% |
| Current assets | 29/58 | €315,571 | €225,295 | -€90,277 | -28.6% |
| Amounts receivable after more than one year | 29 | €43,260 | €43,260 | = | 0.0% |
| Other amounts receivable | 291 | €43,260 | €43,260 | = | 0.0% |
| Stocks and contracts in progress | 3 | €35,242 | €79,078 | +€43,836 | +124.4% |
| Stocks | 30/36 | €35,242 | €79,078 | +€43,836 | +124.4% |
| Amounts receivable within one year | 40/41 | €150,489 | €12,824 | -€137,665 | -91.5% |
| Trade receivables | 40 | €2,255 | €5,638 | +€3,383 | +150.0% |
| Other amounts receivable | 41 | €148,234 | €7,186 | -€141,047 | -95.2% |
| Cash at bank and in hand | 54/58 | €86,335 | €88,198 | +€1,864 | +2.2% |
| Deferred charges and accrued income | 490/1 | €246 | €1,934 | +€1,688 | +687.3% |
| Total equity and liabilities | 10/49 | €692,430 | €844,905 | +€152,475 | +22.0% |
| Equity | 10/15 | €207,922 | €250,975 | +€43,053 | +20.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €172,241 | €172,241 | = | 0.0% |
| Distributable reserves | 133 | €172,241 | €172,241 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,681 | €58,734 | +€43,053 | +274.6% |
| Amounts payable | 17/49 | €484,508 | €593,931 | +€109,423 | +22.6% |
| Amounts payable after more than one year | 17 | €235,801 | €300,427 | +€64,626 | +27.4% |
| Financial debts | 170/4 | €235,801 | €300,427 | +€64,626 | +27.4% |
| Amounts payable within one year | 42/48 | €241,693 | €289,166 | +€47,473 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €40,666 | €40,866 | +€201 | +0.5% |
| Financial debts | 43 | €14,652 | €16,309 | +€1,656 | +11.3% |
| Credit institutions | 430/8 | €14,652 | €16,309 | +€1,656 | +11.3% |
| Trade debts | 44 | €91,256 | €135,050 | +€43,793 | +48.0% |
| Suppliers | 440/4 | €91,256 | €135,050 | +€43,793 | +48.0% |
| Taxes, remuneration and social security | 45 | €95,119 | €94,377 | -€742 | -0.8% |
| Taxes | 450/3 | €48,998 | €31,330 | -€17,668 | -36.1% |
| Remuneration and social security | 454/9 | €46,121 | €63,048 | +€16,927 | +36.7% |
| Other amounts payable | 47/48 | - | €2,563 | +€2,563 | |
| Accrued charges and deferred income | 492/3 | €7,014 | €4,338 | -€2,676 | -38.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €491,435 | €862,739 | +€371,304 | +75.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,831 | €136,511 | +€42,680 | +45.5% |
| Other operating charges | 640/8 | €4,598 | €11,356 | +€6,758 | +147.0% |
| Non-recurring operating charges | 66A | €7,932 | €0 | -€7,932 | -100.0% |
| Gross operating margin | 9900 | €657,539 | €1,088,141 | +€430,602 | +65.5% |
| Operating profit (loss) | 9901 | €59,744 | €77,535 | +€17,792 | +29.8% |
| Financial income | 75/76B | €4,880 | €437 | -€4,443 | -91.1% |
| Recurring financial income | 75 | €4,880 | €437 | -€4,443 | -91.1% |
| Financial charges | 65/66B | €36,100 | €24,136 | -€11,964 | -33.1% |
| Recurring financial charges | 65 | €36,100 | €24,136 | -€11,964 | -33.1% |
| Profit (loss) for the period before taxes | 9903 | €28,523 | €53,836 | +€25,313 | +88.7% |
| Income taxes | 67/77 | €13,221 | €10,783 | -€2,438 | -18.4% |
| Profit (loss) for the period | 9904 | €15,302 | €43,053 | +€27,750 | +181.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,302 | €43,053 | +€27,750 | +181.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.