The Nest: 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 Nest
Largest movements
- Financial fixed assets +€13,620
up €13,620 (+136%), from €10,000 to €23,620
- Cash +€2,867
up €2,867 (+36.5%), from €7,862 to €10,729
mainly Short-term financial debts (+€10,000) and Other debts (+€5,000)
- Receivables within one year -€1,985
down €1,985 (-41.3%), from €4,801 to €2,816
- Short-term financial debts +€10,000
new in 2025: €10,000
- Other debts +€5,000
new in 2025: €5,000
- Trade debts -€3,334
down €3,334 (-88.0%), from €3,790 to €456
- Profit (loss) carried forward +€1,441
up €1,441 (+8.9%), from -€16,177 to -€14,736
- Accrued charges and deferred income +€989
up €989 (+23.0%), from €4,310 to €5,299
- Financial charges -€24,157
down €24,157 (-90.8%), from €26,619 to €2,462
of which Financial charges: -€19,157
- Gross operating margin -€8,465
down €8,465 (-55.7%), from €15,205 to €6,740
- Depreciation -€2,515
no longer reported in 2025 (was €2,515)
- Other operating charges +€644
up €644 (+55.0%), from €1,170 to €1,814
- Taxes -€231
down €231 (-16.5%), from €1,401 to €1,170
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 | €22,663 | €37,165 | +€14,502 | +64.0% |
| Fixed assets | 21/28 | €10,000 | €23,620 | +€13,620 | +136% |
| Financial fixed assets | 28 | €10,000 | €23,620 | +€13,620 | +136% |
| Current assets | 29/58 | €12,663 | €13,545 | +€882 | +7.0% |
| Amounts receivable within one year | 40/41 | €4,801 | €2,816 | -€1,985 | -41.3% |
| Other amounts receivable | 41 | €4,801 | €2,816 | -€1,985 | -41.3% |
| Cash at bank and in hand | 54/58 | €7,862 | €10,729 | +€2,867 | +36.5% |
| Total equity and liabilities | 10/49 | €22,663 | €37,165 | +€14,502 | +64.0% |
| Equity | 10/15 | €12,394 | €13,835 | +€1,441 | +11.6% |
| Contributions | 10/11 | €28,571 | €28,571 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,177 | -€14,736 | +€1,441 | +8.9% |
| Amounts payable | 17/49 | €10,269 | €23,329 | +€13,061 | +127% |
| Amounts payable within one year | 42/48 | €5,959 | €18,030 | +€12,071 | +203% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Other loans | 439 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €3,790 | €456 | -€3,334 | -88.0% |
| Suppliers | 440/4 | €3,790 | €456 | -€3,334 | -88.0% |
| Taxes, remuneration and social security | 45 | €2,169 | €2,574 | +€405 | +18.7% |
| Taxes | 450/3 | €2,169 | €2,574 | +€405 | +18.7% |
| Other amounts payable | 47/48 | - | €5,000 | +€5,000 | |
| Accrued charges and deferred income | 492/3 | €4,310 | €5,299 | +€989 | +23.0% |
| Non-recurring operating income | 76A | €61,247 | - | -€61,247 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,515 | - | -€2,515 | |
| Other operating charges | 640/8 | €1,170 | €1,814 | +€644 | +55.0% |
| Gross operating margin | 9900 | €15,205 | €6,740 | -€8,465 | -55.7% |
| Operating profit (loss) | 9901 | €11,520 | €4,925 | -€6,595 | -57.2% |
| Financial income | 75/76B | €323 | €148 | -€175 | -54.1% |
| Recurring financial income | 75 | €323 | €148 | -€175 | -54.1% |
| Financial charges | 65/66B | €26,619 | €2,462 | -€24,157 | -90.8% |
| Recurring financial charges | 65 | €21,619 | €2,462 | -€19,157 | -88.6% |
| Non-recurring financial charges | 66B | €5,000 | - | -€5,000 | |
| Profit (loss) for the period before taxes | 9903 | -€14,776 | €2,611 | +€17,388 | |
| Income taxes | 67/77 | €1,401 | €1,170 | -€231 | -16.5% |
| Profit (loss) for the period | 9904 | -€16,177 | €1,441 | +€17,619 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,177 | €1,441 | +€17,619 |
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 20 October 2026 via checked.be.