Dr. Cis Nicasy: what changed
Dr. Cis Nicasy
Largest movements
- Cash +€79,733
up €79,733 (+153%), from €52,008 to €131,741
mainly Net result for the year (+€97,678) and Other debts (+€73,226)
- Deferred charges and accrued income -€42,500
no longer reported in 2025 (was €42,500)
- Current investments +€30,153
up €30,153 (+54.7%), from €55,129 to €85,282
- Tangible fixed assets -€17,005
down €17,005 (-24.3%), from €70,056 to €53,051
of which Furniture and vehicles: -€13,079
- Receivables within one year +€6,639
up €6,639 (+60.3%), from €11,001 to €17,640
of which Other amounts receivable: +€6,303
- Other debts +€73,226
up €73,226 (+75.2%), from €97,433 to €170,659
- Reserves -€21,322
down €21,322 (-20.4%), from €104,509 to €83,187
- Tax, wage and social debts +€4,933
up €4,933 (+93.2%), from €5,295 to €10,228
of which Taxes: +€5,533
- Gross operating margin +€33,229
up €33,229 (+29.3%), from €113,358 to €146,587
- Taxes +€9,754
up €9,754 (+54.5%), from €17,883 to €27,637
- Financial charges -€6,748
down €6,748 (-91.4%), from €7,383 to €635
- Depreciation +€1,895
up €1,895 (+10.7%), from €17,633 to €19,528
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €230,694 | €287,714 | +€57,020 | +24.7% |
| Fixed assets | 21/28 | €70,056 | €53,051 | -€17,005 | -24.3% |
| Tangible fixed assets | 22/27 | €70,056 | €53,051 | -€17,005 | -24.3% |
| Land and buildings | 22 | €3,212 | €2,801 | -€411 | -12.8% |
| Plant, machinery and equipment | 23 | €10,555 | €8,925 | -€1,630 | -15.4% |
| Furniture and vehicles | 24 | €20,743 | €7,664 | -€13,079 | -63.1% |
| Other tangible fixed assets | 26 | €35,547 | €33,661 | -€1,886 | -5.3% |
| Current assets | 29/58 | €160,638 | €234,663 | +€74,025 | +46.1% |
| Amounts receivable within one year | 40/41 | €11,001 | €17,640 | +€6,639 | +60.3% |
| Trade receivables | 40 | €9,812 | €10,148 | +€336 | +3.4% |
| Other amounts receivable | 41 | €1,189 | €7,492 | +€6,303 | +530% |
| Current investments | 50/53 | €55,129 | €85,282 | +€30,153 | +54.7% |
| Cash at bank and in hand | 54/58 | €52,008 | €131,741 | +€79,733 | +153% |
| Deferred charges and accrued income | 490/1 | €42,500 | - | -€42,500 | |
| Total equity and liabilities | 10/49 | €230,694 | €287,714 | +€57,020 | +24.7% |
| Equity | 10/15 | €109,509 | €88,187 | -€21,322 | -19.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €104,509 | €83,187 | -€21,322 | -20.4% |
| Distributable reserves | 133 | €104,509 | €83,187 | -€21,322 | -20.4% |
| Amounts payable | 17/49 | €121,186 | €199,527 | +€78,341 | +64.6% |
| Amounts payable within one year | 42/48 | €121,186 | €199,527 | +€78,341 | +64.6% |
| Current portion of amounts payable after more than one year | 42 | €12,793 | €12,739 | -€54 | -0.4% |
| Trade debts | 44 | €5,665 | €5,901 | +€236 | +4.2% |
| Suppliers | 440/4 | €5,665 | €5,901 | +€236 | +4.2% |
| Taxes, remuneration and social security | 45 | €5,295 | €10,228 | +€4,933 | +93.2% |
| Taxes | 450/3 | €1,967 | €7,500 | +€5,533 | +281% |
| Remuneration and social security | 454/9 | €3,328 | €2,728 | -€600 | -18.0% |
| Other amounts payable | 47/48 | €97,433 | €170,659 | +€73,226 | +75.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,633 | €19,528 | +€1,895 | +10.7% |
| Other operating charges | 640/8 | €2,507 | €1,262 | -€1,245 | -49.7% |
| Gross operating margin | 9900 | €113,358 | €146,587 | +€33,229 | +29.3% |
| Operating profit (loss) | 9901 | €93,219 | €125,797 | +€32,578 | +34.9% |
| Financial income | 75/76B | €1,265 | €153 | -€1,111 | -87.9% |
| Recurring financial income | 75 | €1,265 | €153 | -€1,111 | -87.9% |
| Financial charges | 65/66B | €7,383 | €635 | -€6,748 | -91.4% |
| Recurring financial charges | 65 | €7,383 | €635 | -€6,748 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | €87,100 | €125,315 | +€38,215 | +43.9% |
| Income taxes | 67/77 | €17,883 | €27,637 | +€9,754 | +54.5% |
| Profit (loss) for the period | 9904 | €69,217 | €97,678 | +€28,461 | +41.1% |
| Profit (loss) for the period to be appropriated | 9905 | €69,217 | €97,678 | +€28,461 | +41.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.