C. NIESSEN: 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.
C. NIESSEN
Largest movements
- Tangible fixed assets -€27,918
down €27,918 (-49.9%), from €55,908 to €27,990
of which Furniture and vehicles: -€30,194
- Debts after one year -€120,000
no longer reported in 2025 (was €120,000)
- Profit (loss) carried forward +€80,291
up €80,291 (+4.0%), from €2.0m to €2.1m
- Gross operating margin -€294,285
down €294,285 (-69.3%), from €424,884 to €130,599
- Taxes -€70,560
down €70,560 (-70.0%), from €100,758 to €30,198
- Financial charges -€11,947
down €11,947, from €10,197 to -€1,750
- Depreciation -€8,565
down €8,565 (-62.6%), from €13,685 to €5,120
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 | €2,200,187 | €2,160,170 | -€40,017 | -1.8% |
| Fixed assets | 21/28 | €2,081,908 | €2,053,990 | -€27,918 | -1.3% |
| Tangible fixed assets | 22/27 | €55,908 | €27,990 | -€27,918 | -49.9% |
| Plant, machinery and equipment | 23 | €24,206 | €26,482 | +€2,276 | +9.4% |
| Furniture and vehicles | 24 | €31,702 | €1,508 | -€30,194 | -95.2% |
| Financial fixed assets | 28 | €2,026,000 | €2,026,000 | = | 0.0% |
| Current assets | 29/58 | €118,279 | €106,180 | -€12,099 | -10.2% |
| Amounts receivable within one year | 40/41 | €29,703 | €18,080 | -€11,623 | -39.1% |
| Trade receivables | 40 | €25,410 | €12,240 | -€13,170 | -51.8% |
| Other amounts receivable | 41 | €4,293 | €5,840 | +€1,547 | +36.0% |
| Cash at bank and in hand | 54/58 | €86,835 | €87,862 | +€1,027 | +1.2% |
| Deferred charges and accrued income | 490/1 | €1,742 | €239 | -€1,503 | -86.3% |
| Total equity and liabilities | 10/49 | €2,200,187 | €2,160,170 | -€40,017 | -1.8% |
| Equity | 10/15 | €2,040,183 | €2,120,474 | +€80,291 | +3.9% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,985,183 | €2,065,474 | +€80,291 | +4.0% |
| Amounts payable | 17/49 | €160,004 | €39,696 | -€120,307 | -75.2% |
| Amounts payable after more than one year | 17 | €120,000 | - | -€120,000 | |
| Financial debts | 170/4 | €120,000 | - | -€120,000 | |
| Amounts payable within one year | 42/48 | €34,561 | €36,729 | +€2,168 | +6.3% |
| Trade debts | 44 | - | €116 | +€116 | |
| Suppliers | 440/4 | - | €116 | +€116 | |
| Taxes, remuneration and social security | 45 | €34,561 | €36,613 | +€2,052 | +5.9% |
| Taxes | 450/3 | €34,561 | €36,613 | +€2,052 | +5.9% |
| Accrued charges and deferred income | 492/3 | €5,443 | €2,968 | -€2,476 | -45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,685 | €5,120 | -€8,565 | -62.6% |
| Other operating charges | 640/8 | €1,206 | €1,025 | -€182 | -15.1% |
| Non-recurring operating charges | 66A | - | €15,978 | +€15,978 | |
| Gross operating margin | 9900 | €424,884 | €130,599 | -€294,285 | -69.3% |
| Operating profit (loss) | 9901 | €409,992 | €108,476 | -€301,516 | -73.5% |
| Financial income | 75/76B | €199 | €263 | +€64 | +32.3% |
| Recurring financial income | 75 | €199 | €263 | +€64 | +32.3% |
| Financial charges | 65/66B | €10,197 | -€1,750 | -€11,947 | |
| Recurring financial charges | 65 | €10,197 | -€1,750 | -€11,947 | |
| Profit (loss) for the period before taxes | 9903 | €399,994 | €110,489 | -€289,505 | -72.4% |
| Income taxes | 67/77 | €100,758 | €30,198 | -€70,560 | -70.0% |
| Profit (loss) for the period | 9904 | €299,236 | €80,291 | -€218,945 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €299,236 | €80,291 | -€218,945 | -73.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.