NULENS: 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.
NULENS
Largest movements
- Tangible fixed assets -€27,624
down €27,624 (-4.0%), from €697,112 to €669,488
of which Land and buildings: -€26,620
- Other debts -€59,444
down €59,444 (-50.2%), from €118,484 to €59,039
- Reserves +€33,380
up €33,380 (+11.3%), from €296,192 to €329,573
of which Distributable reserves: +€33,380
- Tax, wage and social debts +€18,748
up €18,748 (+115%), from €16,303 to €35,051
- Debts after one year -€15,294
down €15,294 (-12.1%), from €126,182 to €110,888
- Gross operating margin +€6,246
up €6,246 (+6.4%), from €97,662 to €103,908
- Taxes +€2,529
up €2,529 (+15.6%), from €16,261 to €18,790
- Other operating charges -€1,600
down €1,600 (-10.3%), from €15,516 to €13,916
- Depreciation -€1,452
down €1,452 (-4.0%), from €36,639 to €35,187
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 | €714,619 | €692,266 | -€22,353 | -3.1% |
| Fixed assets | 21/28 | €697,112 | €669,488 | -€27,624 | -4.0% |
| Tangible fixed assets | 22/27 | €697,112 | €669,488 | -€27,624 | -4.0% |
| Land and buildings | 22 | €681,797 | €655,177 | -€26,620 | -3.9% |
| Plant, machinery and equipment | 23 | €347 | €1,496 | +€1,149 | +332% |
| Furniture and vehicles | 24 | €14,969 | €12,816 | -€2,153 | -14.4% |
| Current assets | 29/58 | €17,507 | €22,777 | +€5,271 | +30.1% |
| Amounts receivable within one year | 40/41 | €6,077 | €5,080 | -€996 | -16.4% |
| Trade receivables | 40 | €2,677 | €2,677 | = | 0.0% |
| Other amounts receivable | 41 | €3,400 | €2,404 | -€996 | -29.3% |
| Cash at bank and in hand | 54/58 | €11,224 | €17,583 | +€6,359 | +56.7% |
| Deferred charges and accrued income | 490/1 | €206 | €114 | -€92 | -44.6% |
| Total equity and liabilities | 10/49 | €714,619 | €692,266 | -€22,353 | -3.1% |
| Equity | 10/15 | €438,612 | €471,993 | +€33,380 | +7.6% |
| Contributions | 10/11 | €142,420 | €142,420 | = | 0.0% |
| Capital | 10 | €142,420 | €142,420 | = | 0.0% |
| Issued capital | 100 | €142,420 | €142,420 | = | 0.0% |
| Reserves | 13 | €296,192 | €329,573 | +€33,380 | +11.3% |
| Non-distributable reserves | 130/1 | €24,820 | €24,820 | = | 0.0% |
| Legal reserve | 130 | €24,820 | €24,820 | = | 0.0% |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €271,372 | €304,752 | +€33,380 | +12.3% |
| Amounts payable | 17/49 | €276,007 | €220,273 | -€55,734 | -20.2% |
| Amounts payable after more than one year | 17 | €126,182 | €110,888 | -€15,294 | -12.1% |
| Financial debts | 170/4 | €126,182 | €110,888 | -€15,294 | -12.1% |
| Amounts payable within one year | 42/48 | €149,824 | €109,385 | -€40,440 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €15,038 | €15,294 | +€257 | +1.7% |
| Taxes, remuneration and social security | 45 | €16,303 | €35,051 | +€18,748 | +115% |
| Taxes | 450/3 | €16,303 | €35,051 | +€18,748 | +115% |
| Other amounts payable | 47/48 | €118,484 | €59,039 | -€59,444 | -50.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,639 | €35,187 | -€1,452 | -4.0% |
| Other operating charges | 640/8 | €15,516 | €13,916 | -€1,600 | -10.3% |
| Gross operating margin | 9900 | €97,662 | €103,908 | +€6,246 | +6.4% |
| Operating profit (loss) | 9901 | €45,508 | €54,805 | +€9,297 | +20.4% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €2,944 | €2,640 | -€305 | -10.3% |
| Recurring financial charges | 65 | €2,944 | €2,640 | -€305 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €42,564 | €52,171 | +€9,607 | +22.6% |
| Income taxes | 67/77 | €16,261 | €18,790 | +€2,529 | +15.6% |
| Profit (loss) for the period | 9904 | €26,303 | €33,380 | +€7,078 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,303 | €33,380 | +€7,078 | +26.9% |
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 23 October 2026 via checked.be.