Nulens & Co: 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 & Co
Largest movements
- Stocks and contracts -€753,424
down €753,424 (-20.1%), from €3.7m to €3.0m
- Cash +€737,678
up €737,678 (+80.4%), from €917,909 to €1.7m
mainly Net result for the year (+€822,121) and Stocks and contracts (+€753,424)
- Receivables within one year +€511,520
up €511,520 (+141%), from €363,763 to €875,283
of which Other amounts receivable: +€511,520
- Receivables after one year -€392,992
down €392,992 (-31.2%), from €1.3m to €866,851
- Reserves +€502,170
up €502,170 (+25.8%), from €1.9m to €2.5m
of which Distributable reserves: +€502,170
- Other debts -€283,808
down €283,808 (-84.3%), from €336,675 to €52,867
- Gross operating margin +€482,885
up €482,885 (+60.4%), from €799,679 to €1.3m
- Taxes +€153,873
up €153,873 (+67.0%), from €229,819 to €383,692
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 | €7,468,132 | €7,530,273 | +€62,142 | +0.8% |
| Fixed assets | 21/28 | €1,171,398 | €1,136,202 | -€35,195 | -3.0% |
| Tangible fixed assets | 22/27 | €1,153,033 | €1,117,838 | -€35,195 | -3.1% |
| Land and buildings | 22 | €1,099,383 | €1,061,088 | -€38,295 | -3.5% |
| Plant, machinery and equipment | 23 | €26,250 | €26,250 | = | 0.0% |
| Furniture and vehicles | 24 | €11,700 | €11,700 | = | 0.0% |
| Other tangible fixed assets | 26 | €15,700 | €18,800 | +€3,100 | +19.7% |
| Financial fixed assets | 28 | €18,365 | €18,365 | = | 0.0% |
| Current assets | 29/58 | €6,296,734 | €6,394,071 | +€97,337 | +1.5% |
| Amounts receivable after more than one year | 29 | €1,259,844 | €866,851 | -€392,992 | -31.2% |
| Other amounts receivable | 291 | €1,259,844 | €866,851 | -€392,992 | -31.2% |
| Stocks and contracts in progress | 3 | €3,749,773 | €2,996,349 | -€753,424 | -20.1% |
| Stocks | 30/36 | €3,749,773 | €2,996,349 | -€753,424 | -20.1% |
| Amounts receivable within one year | 40/41 | €363,763 | €875,283 | +€511,520 | +141% |
| Trade receivables | 40 | €2,225 | €2,225 | = | 0.0% |
| Other amounts receivable | 41 | €361,538 | €873,058 | +€511,520 | +141% |
| Cash at bank and in hand | 54/58 | €917,909 | €1,655,588 | +€737,678 | +80.4% |
| Deferred charges and accrued income | 490/1 | €5,445 | €0 | -€5,445 | -100% |
| Total equity and liabilities | 10/49 | €7,468,132 | €7,530,273 | +€62,142 | +0.8% |
| Equity | 10/15 | €4,713,357 | €5,215,527 | +€502,170 | +10.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,949,763 | €2,451,933 | +€502,170 | +25.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,949,763 | €2,451,933 | +€502,170 | +25.8% |
| Profit (loss) carried forward | 14 | €2,743,594 | €2,743,594 | = | 0.0% |
| Amounts payable | 17/49 | €2,754,774 | €2,314,747 | -€440,028 | -16.0% |
| Amounts payable after more than one year | 17 | €178,115 | €150,431 | -€27,684 | -15.5% |
| Financial debts | 170/4 | €178,115 | €150,431 | -€27,684 | -15.5% |
| Amounts payable within one year | 42/48 | €2,576,660 | €2,164,316 | -€412,344 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €27,087 | €27,684 | +€596 | +2.2% |
| Financial debts | 43 | €2,152,709 | €2,083,677 | -€69,032 | -3.2% |
| Credit institutions | 430/8 | €2,152,709 | €2,083,677 | -€69,032 | -3.2% |
| Trade debts | 44 | €972 | €88 | -€884 | -91.0% |
| Suppliers | 440/4 | €972 | €88 | -€884 | -91.0% |
| Taxes, remuneration and social security | 45 | €59,216 | €0 | -€59,216 | -100% |
| Taxes | 450/3 | €59,216 | €0 | -€59,216 | -100% |
| Other amounts payable | 47/48 | €336,675 | €52,867 | -€283,808 | -84.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,295 | €38,295 | = | 0.0% |
| Other operating charges | 640/8 | €4,938 | €1,115 | -€3,823 | -77.4% |
| Gross operating margin | 9900 | €799,679 | €1,282,564 | +€482,885 | +60.4% |
| Operating profit (loss) | 9901 | €756,446 | €1,243,154 | +€486,708 | +64.3% |
| Financial income | 75/76B | €39,594 | €37,956 | -€1,637 | -4.1% |
| Recurring financial income | 75 | €39,594 | €37,956 | -€1,637 | -4.1% |
| Financial charges | 65/66B | €76,889 | €75,298 | -€1,590 | -2.1% |
| Recurring financial charges | 65 | €76,889 | €75,298 | -€1,590 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €719,151 | €1,205,812 | +€486,662 | +67.7% |
| Income taxes | 67/77 | €229,819 | €383,692 | +€153,873 | +67.0% |
| Profit (loss) for the period | 9904 | €489,332 | €822,121 | +€332,789 | +68.0% |
| Profit (loss) for the period to be appropriated | 9905 | €489,332 | €822,121 | +€332,789 | +68.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.