NUEVE: 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.
NUEVE
Largest movements
- Stocks and contracts +€52,372
up €52,372 (+1293.0%), from €4,051 to €56,423
- Receivables within one year +€18,877
up €18,877 (+15.5%), from €121,787 to €140,664
of which Trade receivables: +€30,178
- Tangible fixed assets -€15,038
down €15,038 (-49.1%), from €30,657 to €15,620
of which Furniture and vehicles: -€10,426
- Cash +€8,208
up €8,208 (+45.8%), from €17,902 to €26,110
mainly Trade debts (+€115,768) and Depreciation (+€16,957)
- Trade debts +€115,768
up €115,768 (+277.9%), from €41,665 to €157,433
- Profit (loss) carried forward -€28,847
down €28,847 (-231.5%), from -€12,459 to -€41,307
- Debts after one year -€16,480
down €16,480 (-18.0%), from €91,453 to €74,973
of which Financial debts: -€9,453
- Current portion of long-term debt -€5,226
down €5,226 (-45.6%), from €11,451 to €6,225
- Short-term financial debts -€4,028
down €4,028 (-45.7%), from €8,808 to €4,779
- Gross operating margin -€28,181
down €28,181, from €21,017 to -€7,164
- Depreciation -€8,569
down €8,569 (-33.6%), from €25,526 to €16,957
- Other operating charges +€835
up €835 (+51.8%), from €1,612 to €2,448
- Financial income -€317
down €317 (-72.5%), from €438 to €120
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 | €190,171 | €252,781 | +€62,610 | +32.9% |
| Fixed assets | 21/28 | €42,207 | €27,170 | -€15,038 | -35.6% |
| Tangible fixed assets | 22/27 | €30,657 | €15,620 | -€15,038 | -49.1% |
| Plant, machinery and equipment | 23 | €2,997 | €2,993 | -€4 | -0.1% |
| Furniture and vehicles | 24 | €16,304 | €5,878 | -€10,426 | -63.9% |
| Other tangible fixed assets | 26 | €11,356 | €6,749 | -€4,607 | -40.6% |
| Financial fixed assets | 28 | €11,550 | €11,550 | = | 0.0% |
| Current assets | 29/58 | €147,964 | €225,611 | +€77,648 | +52.5% |
| Stocks and contracts in progress | 3 | €4,051 | €56,423 | +€52,372 | +1293.0% |
| Stocks | 30/36 | €4,051 | €56,423 | +€52,372 | +1293.0% |
| Amounts receivable within one year | 40/41 | €121,787 | €140,664 | +€18,877 | +15.5% |
| Trade receivables | 40 | €105,792 | €135,970 | +€30,178 | +28.5% |
| Other amounts receivable | 41 | €15,995 | €4,694 | -€11,301 | -70.7% |
| Cash at bank and in hand | 54/58 | €17,902 | €26,110 | +€8,208 | +45.8% |
| Deferred charges and accrued income | 490/1 | €4,224 | €2,415 | -€1,809 | -42.8% |
| Total equity and liabilities | 10/49 | €190,171 | €252,781 | +€62,610 | +32.9% |
| Equity | 10/15 | €34,440 | €5,593 | -€28,847 | -83.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,300 | €28,300 | = | 0.0% |
| Distributable reserves | 133 | €28,300 | €28,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,459 | -€41,307 | -€28,847 | -231.5% |
| Amounts payable | 17/49 | €155,730 | €247,188 | +€91,458 | +58.7% |
| Amounts payable after more than one year | 17 | €91,453 | €74,973 | -€16,480 | -18.0% |
| Financial debts | 170/4 | €9,453 | - | -€9,453 | |
| Other amounts payable | 178/9 | €82,000 | €74,973 | -€7,027 | -8.6% |
| Amounts payable within one year | 42/48 | €64,277 | €172,215 | +€107,938 | +167.9% |
| Current portion of amounts payable after more than one year | 42 | €11,451 | €6,225 | -€5,226 | -45.6% |
| Financial debts | 43 | €8,808 | €4,779 | -€4,028 | -45.7% |
| Other loans | 439 | €8,808 | €4,779 | -€4,028 | -45.7% |
| Trade debts | 44 | €41,665 | €157,433 | +€115,768 | +277.9% |
| Suppliers | 440/4 | €41,665 | €157,433 | +€115,768 | +277.9% |
| Taxes, remuneration and social security | 45 | €2,099 | €1,177 | -€921 | -43.9% |
| Taxes | 450/3 | €2,099 | €1,177 | -€921 | -43.9% |
| Other amounts payable | 47/48 | €255 | €2,601 | +€2,346 | +921.9% |
| Non-recurring operating income | 76A | - | €2,500 | +€2,500 | |
| Remuneration, social security and pensions | 62 | -€156 | - | +€156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,526 | €16,957 | -€8,569 | -33.6% |
| Other operating charges | 640/8 | €1,612 | €2,448 | +€835 | +51.8% |
| Gross operating margin | 9900 | €21,017 | -€7,164 | -€28,181 | |
| Operating profit (loss) | 9901 | -€5,966 | -€26,569 | -€20,603 | -345.3% |
| Financial income | 75/76B | €438 | €120 | -€317 | -72.5% |
| Recurring financial income | 75 | €438 | €120 | -€317 | -72.5% |
| Financial charges | 65/66B | €1,985 | €1,957 | -€28 | -1.4% |
| Recurring financial charges | 65 | €1,985 | €1,957 | -€28 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,513 | -€28,406 | -€20,893 | -278.1% |
| Income taxes | 67/77 | €490 | €441 | -€48 | -9.8% |
| Profit (loss) for the period | 9904 | -€8,003 | -€28,847 | -€20,844 | -260.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,003 | -€28,847 | -€20,844 | -260.5% |
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 10 October 2026 via checked.be.