't NERVEN: 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.
't NERVEN
Largest movements
- Stocks and contracts -€159,039
down €159,039 (-100.0%), from €159,039 to €0
- Cash -€34,265
down €34,265 (-99.1%), from €34,576 to €311
mainly Other debts (-€145,818) and Trade debts (-€113,824)
- Receivables within one year +€24,933
up €24,933 (+108.5%), from €22,980 to €47,912
of which Trade receivables: +€27,145
- Other debts -€145,818
down €145,818 (-95.4%), from €152,901 to €7,083
- Trade debts -€113,824
down €113,824 (-98.9%), from €115,105 to €1,281
- Current portion of long-term debt +€72,646
up €72,646, from €0 to €72,646
- Reserves +€25,949
up €25,949, from €0 to €25,949
- Tax, wage and social debts -€10,551
down €10,551 (-52.4%), from €20,148 to €9,597
- Gross operating margin +€33,846
up €33,846 (+444.6%), from €7,612 to €41,458
- Taxes +€9,240
up €9,240 (+2802.0%), from €330 to €9,570
- Other operating charges +€1,094
up €1,094 (+21.2%), from €5,171 to €6,265
- Depreciation -€717
down €717 (-100.0%), from €717 to €0
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 | €319,024 | €148,595 | -€170,429 | -53.4% |
| Fixed assets | 21/28 | €101,436 | €100,372 | -€1,064 | -1.0% |
| Tangible fixed assets | 22/27 | €101,064 | €100,000 | -€1,064 | -1.1% |
| Land and buildings | 22 | €100,000 | €100,000 | = | 0.0% |
| Furniture and vehicles | 24 | €1,064 | €0 | -€1,064 | -100.0% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €217,588 | €48,223 | -€169,365 | -77.8% |
| Stocks and contracts in progress | 3 | €159,039 | €0 | -€159,039 | -100.0% |
| Stocks | 30/36 | €159,039 | €0 | -€159,039 | -100.0% |
| Amounts receivable within one year | 40/41 | €22,980 | €47,912 | +€24,933 | +108.5% |
| Trade receivables | 40 | €20,343 | €47,488 | +€27,145 | +133.4% |
| Other amounts receivable | 41 | €2,637 | €424 | -€2,213 | -83.9% |
| Cash at bank and in hand | 54/58 | €34,576 | €311 | -€34,265 | -99.1% |
| Deferred charges and accrued income | 490/1 | €994 | €0 | -€994 | -100.0% |
| Total equity and liabilities | 10/49 | €319,024 | €148,595 | -€170,429 | -53.4% |
| Equity | 10/15 | €30,630 | €55,949 | +€25,318 | +82.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €0 | €25,949 | +€25,949 | |
| Distributable reserves | 133 | €0 | €25,949 | +€25,949 | |
| Profit (loss) carried forward | 14 | €630 | €0 | -€630 | -100.0% |
| Amounts payable | 17/49 | €288,394 | €92,646 | -€195,747 | -67.9% |
| Amounts payable within one year | 42/48 | €288,154 | €90,607 | -€197,547 | -68.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €72,646 | +€72,646 | |
| Trade debts | 44 | €115,105 | €1,281 | -€113,824 | -98.9% |
| Suppliers | 440/4 | €115,105 | €1,281 | -€113,824 | -98.9% |
| Taxes, remuneration and social security | 45 | €20,148 | €9,597 | -€10,551 | -52.4% |
| Taxes | 450/3 | €20,148 | €9,597 | -€10,551 | -52.4% |
| Other amounts payable | 47/48 | €152,901 | €7,083 | -€145,818 | -95.4% |
| Accrued charges and deferred income | 492/3 | €240 | €2,039 | +€1,799 | +750.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €717 | €0 | -€717 | -100.0% |
| Other operating charges | 640/8 | €5,171 | €6,265 | +€1,094 | +21.2% |
| Gross operating margin | 9900 | €7,612 | €41,458 | +€33,846 | +444.6% |
| Operating profit (loss) | 9901 | €1,725 | €35,193 | +€33,468 | +1940.4% |
| Financial income | 75/76B | €8 | €57 | +€49 | +598.5% |
| Recurring financial income | 75 | €8 | €57 | +€49 | +598.5% |
| Financial charges | 65/66B | €773 | €362 | -€411 | -53.1% |
| Recurring financial charges | 65 | €773 | €362 | -€411 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €960 | €34,888 | +€33,928 | +3533.7% |
| Income taxes | 67/77 | €330 | €9,570 | +€9,240 | +2802.0% |
| Profit (loss) for the period | 9904 | €630 | €25,318 | +€24,688 | +3916.5% |
| Profit (loss) for the period to be appropriated | 9905 | €630 | €25,318 | +€24,688 | +3916.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.