The Nascent Link: 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.
The Nascent Link
Largest movements
- Cash -€7,941
down €7,941 (-52.4%), from €15,142 to €7,200
mainly Other debts (-€8,173) and Trade debts (-€995)
- Receivables within one year -€1,747
down €1,747 (-36.3%), from €4,806 to €3,059
of which Trade receivables: -€1,505
- Tangible fixed assets -€377
down €377 (-100%), from €377 to €0
- Other debts -€8,173
down €8,173 (-36.8%), from €22,236 to €14,064
- Trade debts -€995
down €995 (-79.8%), from €1,247 to €253
- Profit (loss) carried forward -€963
down €963 (-9.6%), from -€10,016 to -€10,979
- Gross operating margin +€2,745
up €2,745 (+85.5%), from -€3,210 to -€465
- Other operating charges -€387
down €387 (-100%), from €387 to €0
- Depreciation -€60
down €60 (-13.6%), from €436 to €377
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 | €21,111 | €11,060 | -€10,051 | -47.6% |
| Fixed assets | 21/28 | €677 | €300 | -€377 | -55.7% |
| Tangible fixed assets | 22/27 | €377 | €0 | -€377 | -100% |
| Furniture and vehicles | 24 | €377 | €0 | -€377 | -100% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €20,434 | €10,760 | -€9,675 | -47.3% |
| Amounts receivable within one year | 40/41 | €4,806 | €3,059 | -€1,747 | -36.3% |
| Trade receivables | 40 | €4,210 | €2,705 | -€1,505 | -35.7% |
| Other amounts receivable | 41 | €596 | €354 | -€242 | -40.5% |
| Cash at bank and in hand | 54/58 | €15,142 | €7,200 | -€7,941 | -52.4% |
| Deferred charges and accrued income | 490/1 | €487 | €500 | +€13 | +2.7% |
| Total equity and liabilities | 10/49 | €21,111 | €11,060 | -€10,051 | -47.6% |
| Equity | 10/15 | -€2,516 | -€3,479 | -€963 | -38.3% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,016 | -€10,979 | -€963 | -9.6% |
| Amounts payable | 17/49 | €23,627 | €14,539 | -€9,088 | -38.5% |
| Amounts payable within one year | 42/48 | €23,627 | €14,539 | -€9,088 | -38.5% |
| Financial debts | 43 | €143 | €223 | +€80 | +55.7% |
| Credit institutions | 430/8 | €143 | €223 | +€80 | +55.7% |
| Trade debts | 44 | €1,247 | €253 | -€995 | -79.8% |
| Suppliers | 440/4 | €1,247 | €253 | -€995 | -79.8% |
| Other amounts payable | 47/48 | €22,236 | €14,064 | -€8,173 | -36.8% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €436 | €377 | -€60 | -13.6% |
| Other operating charges | 640/8 | €387 | €0 | -€387 | -100% |
| Gross operating margin | 9900 | -€3,210 | -€465 | +€2,745 | +85.5% |
| Operating profit (loss) | 9901 | -€4,033 | -€842 | +€3,192 | +79.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €102 | €122 | +€20 | +19.5% |
| Recurring financial charges | 65 | €102 | €122 | +€20 | +19.5% |
| Profit (loss) for the period before taxes | 9903 | -€4,135 | -€963 | +€3,172 | +76.7% |
| Profit (loss) for the period | 9904 | -€4,135 | -€963 | +€3,172 | +76.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,135 | -€963 | +€3,172 | +76.7% |
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 17 October 2026 via checked.be.