THE NESTWORK: 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 NESTWORK
Largest movements
- Tangible fixed assets +€112,920
up €112,920 (+34.3%), from €329,120 to €442,040
of which Furniture and vehicles: +€164,898
- Cash -€105,778
down €105,778 (-71.0%), from €148,935 to €43,157
mainly Other debts (-€432,139) and Net result for the year (-€324,996)
- Receivables within one year -€65,530
down €65,530 (-40.6%), from €161,394 to €95,864
of which Trade receivables: -€65,842
- Intangible fixed assets +€32,367
up €32,367 (+536%), from €6,036 to €38,403
- Debts after one year +€815,930
up €815,930 (+307%), from €265,521 to €1.1m
of which Financial debts: +€798,805
- Other debts -€432,139
down €432,139 (-99.9%), from €432,697 to €558
- Profit (loss) carried forward -€324,996
down €324,996 (-23.3%), from -€1.4m to -€1.7m
- Trade debts -€128,282
down €128,282 (-26.1%), from €491,824 to €363,542
of which Suppliers: -€128,282
- Accrued charges and deferred income +€50,967
up €50,967 (+51.4%), from €99,239 to €150,206
- Gross operating margin -€169,432
down €169,432 (-98.9%), from €171,300 to €1,868
- Other operating charges +€43,062
up €43,062 (+31.4%), from €137,254 to €180,316
- Depreciation +€32,090
up €32,090 (+38.9%), from €82,435 to €114,525
- Staff costs -€17,038
down €17,038 (-99.3%), from €17,151 to €113
- Financial charges +€8,272
up €8,272 (+34.4%), from €24,015 to €32,287
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 | €670,044 | €650,036 | -€20,008 | -3.0% |
| Fixed assets | 21/28 | €357,356 | €503,590 | +€146,234 | +40.9% |
| Intangible fixed assets | 21 | €6,036 | €38,403 | +€32,367 | +536% |
| Tangible fixed assets | 22/27 | €329,120 | €442,040 | +€112,920 | +34.3% |
| Land and buildings | 22 | €58,567 | €64,486 | +€5,919 | +10.1% |
| Plant, machinery and equipment | 23 | €5,509 | €3,713 | -€1,796 | -32.6% |
| Furniture and vehicles | 24 | €204,528 | €369,426 | +€164,898 | +80.6% |
| Other tangible fixed assets | 26 | €4,415 | €4,415 | -€0 | 0.0% |
| Assets under construction and advance payments | 27 | €56,101 | - | -€56,101 | |
| Financial fixed assets | 28 | €22,200 | €23,147 | +€947 | +4.3% |
| Current assets | 29/58 | €312,689 | €146,446 | -€166,243 | -53.2% |
| Amounts receivable within one year | 40/41 | €161,394 | €95,864 | -€65,530 | -40.6% |
| Trade receivables | 40 | €161,394 | €95,552 | -€65,842 | -40.8% |
| Other amounts receivable | 41 | - | €312 | +€312 | |
| Cash at bank and in hand | 54/58 | €148,935 | €43,157 | -€105,778 | -71.0% |
| Deferred charges and accrued income | 490/1 | €2,359 | €7,425 | +€5,066 | +215% |
| Total equity and liabilities | 10/49 | €670,044 | €650,036 | -€20,008 | -3.0% |
| Equity | 10/15 | -€623,802 | -€948,798 | -€324,996 | -52.1% |
| Contributions | 10/11 | €768,600 | €768,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,392,402 | -€1,717,398 | -€324,996 | -23.3% |
| Amounts payable | 17/49 | €1,293,847 | €1,598,834 | +€304,987 | +23.6% |
| Amounts payable after more than one year | 17 | €265,521 | €1,081,451 | +€815,930 | +307% |
| Financial debts | 170/4 | €181,323 | €980,128 | +€798,805 | +441% |
| Other amounts payable | 178/9 | €84,198 | €101,323 | +€17,125 | +20.3% |
| Amounts payable within one year | 42/48 | €929,087 | €367,177 | -€561,910 | -60.5% |
| Current portion of amounts payable after more than one year | 42 | €4,203 | €3,077 | -€1,126 | -26.8% |
| Trade debts | 44 | €491,824 | €363,542 | -€128,282 | -26.1% |
| Suppliers | 440/4 | €491,250 | €362,968 | -€128,282 | -26.1% |
| Bills of exchange payable | 441 | €574 | €574 | +€0 | 0.0% |
| Taxes, remuneration and social security | 45 | €363 | - | -€363 | |
| Taxes | 450/3 | €363 | - | -€363 | |
| Other amounts payable | 47/48 | €432,697 | €558 | -€432,139 | -99.9% |
| Accrued charges and deferred income | 492/3 | €99,239 | €150,206 | +€50,967 | +51.4% |
| Remuneration, social security and pensions | 62 | €17,151 | €113 | -€17,038 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,435 | €114,525 | +€32,090 | +38.9% |
| Other operating charges | 640/8 | €137,254 | €180,316 | +€43,062 | +31.4% |
| Gross operating margin | 9900 | €171,300 | €1,868 | -€169,432 | -98.9% |
| Operating profit (loss) | 9901 | -€65,540 | -€293,086 | -€227,546 | -347% |
| Financial income | 75/76B | €200 | €377 | +€177 | +88.6% |
| Recurring financial income | 75 | €200 | €377 | +€177 | +88.6% |
| Financial charges | 65/66B | €24,015 | €32,287 | +€8,272 | +34.4% |
| Recurring financial charges | 65 | €24,015 | €32,287 | +€8,272 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | -€89,355 | -€324,996 | -€235,641 | -264% |
| Profit (loss) for the period | 9904 | -€89,355 | -€324,996 | -€235,641 | -264% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,355 | -€324,996 | -€235,641 | -264% |
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 15 October 2026 via checked.be.