NUKAMEL: 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.
NUKAMEL
Largest movements
- Receivables within one year -€411,702
down €411,702 (-22.9%), from €1.8m to €1.4m
of which Trade receivables: -€305,762
- Tangible fixed assets +€157,304
up €157,304 (+68.8%), from €228,554 to €385,858
of which Leasing and similar rights: +€97,722
- Cash +€85,314
up €85,314 (+55.3%), from €154,209 to €239,523
mainly Receivables within one year (+€411,702) and Net result for the year (+€171,068)
- Deferred charges and accrued income -€31,988
down €31,988 (-31.3%), from €102,218 to €70,230
- Reserves -€355,396
down €355,396 (-29.5%), from €1.2m to €850,203
of which Distributable reserves: -€355,396
- Debts after one year +€56,859
up €56,859 (+33.9%), from €167,617 to €224,476
- Tax, wage and social debts +€49,487
up €49,487 (+32.2%), from €153,917 to €203,404
of which Remuneration and social security: +€31,260
- Current portion of long-term debt +€34,517
up €34,517 (+62.3%), from €55,396 to €89,913
- Profit (loss) carried forward +€26,464
up €26,464 (+18.3%), from €144,604 to €171,068
- Gross operating margin +€161,939
up €161,939 (+18.5%), from €876,515 to €1.0m
- Staff costs +€128,731
up €128,731 (+22.2%), from €580,314 to €709,044
- Depreciation -€21,406
down €21,406 (-18.6%), from €114,801 to €93,396
- Financial income -€15,101
down €15,101 (-24.2%), from €62,396 to €47,295
- Taxes +€13,991
up €13,991 (+20.7%), from €67,541 to €81,531
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 | €2,296,259 | €2,089,795 | -€206,464 | -9.0% |
| Fixed assets | 21/28 | €245,269 | €397,181 | +€151,912 | +61.9% |
| Intangible fixed assets | 21 | €15,965 | €10,573 | -€5,392 | -33.8% |
| Tangible fixed assets | 22/27 | €228,554 | €385,858 | +€157,304 | +68.8% |
| Furniture and vehicles | 24 | €9,786 | €69,368 | +€59,582 | +608.8% |
| Leasing and similar rights | 25 | €218,768 | €316,490 | +€97,722 | +44.7% |
| Financial fixed assets | 28 | €750 | €750 | = | 0.0% |
| Current assets | 29/58 | €2,050,989 | €1,692,613 | -€358,376 | -17.5% |
| Amounts receivable within one year | 40/41 | €1,794,563 | €1,382,861 | -€411,702 | -22.9% |
| Trade receivables | 40 | €680,505 | €374,742 | -€305,762 | -44.9% |
| Other amounts receivable | 41 | €1,114,058 | €1,008,119 | -€105,939 | -9.5% |
| Cash at bank and in hand | 54/58 | €154,209 | €239,523 | +€85,314 | +55.3% |
| Deferred charges and accrued income | 490/1 | €102,218 | €70,230 | -€31,988 | -31.3% |
| Total equity and liabilities | 10/49 | €2,296,259 | €2,089,795 | -€206,464 | -9.0% |
| Equity | 10/15 | €1,598,203 | €1,269,271 | -€328,932 | -20.6% |
| Contributions | 10/11 | €248,000 | €248,000 | = | 0.0% |
| Capital | 10 | €248,000 | €248,000 | = | 0.0% |
| Issued capital | 100 | €248,000 | €248,000 | = | 0.0% |
| Reserves | 13 | €1,205,599 | €850,203 | -€355,396 | -29.5% |
| Non-distributable reserves | 130/1 | €24,800 | €24,800 | = | 0.0% |
| Legal reserve | 130 | €24,800 | €24,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,086 | €5,086 | = | 0.0% |
| Distributable reserves | 133 | €1,175,713 | €820,317 | -€355,396 | -30.2% |
| Profit (loss) carried forward | 14 | €144,604 | €171,068 | +€26,464 | +18.3% |
| Amounts payable | 17/49 | €698,056 | €820,524 | +€122,468 | +17.5% |
| Amounts payable after more than one year | 17 | €167,617 | €224,476 | +€56,859 | +33.9% |
| Financial debts | 170/4 | €167,617 | €224,476 | +€56,859 | +33.9% |
| Amounts payable within one year | 42/48 | €497,101 | €571,163 | +€74,062 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €55,396 | €89,913 | +€34,517 | +62.3% |
| Trade debts | 44 | €287,788 | €277,846 | -€9,942 | -3.5% |
| Suppliers | 440/4 | €287,788 | €277,846 | -€9,942 | -3.5% |
| Taxes, remuneration and social security | 45 | €153,917 | €203,404 | +€49,487 | +32.2% |
| Taxes | 450/3 | €33,736 | €51,964 | +€18,227 | +54.0% |
| Remuneration and social security | 454/9 | €120,181 | €151,440 | +€31,260 | +26.0% |
| Accrued charges and deferred income | 492/3 | €33,337 | €24,885 | -€8,453 | -25.4% |
| Non-recurring operating income | 76A | €11,480 | €18,263 | +€6,783 | +59.1% |
| Remuneration, social security and pensions | 62 | €580,314 | €709,044 | +€128,731 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,801 | €93,396 | -€21,406 | -18.6% |
| Other operating charges | 640/8 | €11,780 | €13,118 | +€1,337 | +11.4% |
| Gross operating margin | 9900 | €876,515 | €1,038,454 | +€161,939 | +18.5% |
| Operating profit (loss) | 9901 | €169,620 | €222,896 | +€53,277 | +31.4% |
| Financial income | 75/76B | €62,396 | €47,295 | -€15,101 | -24.2% |
| Recurring financial income | 75 | €62,396 | €47,295 | -€15,101 | -24.2% |
| Financial charges | 65/66B | €19,872 | €17,593 | -€2,279 | -11.5% |
| Recurring financial charges | 65 | €19,872 | €17,593 | -€2,279 | -11.5% |
| Profit (loss) for the period before taxes | 9903 | €212,144 | €252,599 | +€40,455 | +19.1% |
| Income taxes | 67/77 | €67,541 | €81,531 | +€13,991 | +20.7% |
| Profit (loss) for the period | 9904 | €144,604 | €171,068 | +€26,464 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €144,604 | €171,068 | +€26,464 | +18.3% |
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 11 October 2026 via checked.be.