GS NIVELLES: 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.
GS NIVELLES
Largest movements
- Tangible fixed assets -€104,856
down €104,856 (-3.0%), from €3.4m to €3.3m
of which Land and buildings: -€104,224
- Cash +€74,538
up €74,538 (+106%), from €70,607 to €145,146
mainly Net result for the year (+€308,467) and Depreciation (+€116,791)
- Receivables within one year +€40,984
up €40,984 (+16.6%), from €247,049 to €288,032
of which Trade receivables: +€52,179
- Reserves +€308,000
up €308,000 (+19.8%), from €1.6m to €1.9m
- Debts after one year -€289,038
down €289,038 (-15.0%), from €1.9m to €1.6m
- Trade debts -€56,071
down €56,071 (-28.0%), from €200,143 to €144,072
- Financial income -€199,606
down €199,606 (-73.9%), from €269,966 to €70,360
- Gross operating margin -€28,522
down €28,522 (-4.5%), from €629,442 to €600,919
- Staff costs -€14,056
down €14,056 (-48.4%), from €29,053 to €14,997
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 | €3,927,631 | €3,938,664 | +€11,033 | +0.3% |
| Fixed assets | 21/28 | €3,595,960 | €3,491,103 | -€104,856 | -2.9% |
| Tangible fixed assets | 22/27 | €3,438,082 | €3,333,225 | -€104,856 | -3.0% |
| Land and buildings | 22 | €3,436,716 | €3,332,492 | -€104,224 | -3.0% |
| Furniture and vehicles | 24 | €1,366 | €733 | -€633 | -46.3% |
| Financial fixed assets | 28 | €157,878 | €157,878 | = | 0.0% |
| Current assets | 29/58 | €331,671 | €447,561 | +€115,889 | +34.9% |
| Amounts receivable within one year | 40/41 | €247,049 | €288,032 | +€40,984 | +16.6% |
| Trade receivables | 40 | €235,854 | €288,032 | +€52,179 | +22.1% |
| Other amounts receivable | 41 | €11,195 | €0 | -€11,195 | -100% |
| Cash at bank and in hand | 54/58 | €70,607 | €145,146 | +€74,538 | +106% |
| Deferred charges and accrued income | 490/1 | €14,015 | €14,382 | +€367 | +2.6% |
| Total equity and liabilities | 10/49 | €3,927,631 | €3,938,664 | +€11,033 | +0.3% |
| Equity | 10/15 | €1,586,177 | €1,894,644 | +€308,467 | +19.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,558,860 | €1,866,860 | +€308,000 | +19.8% |
| Distributable reserves | 133 | €1,558,860 | €1,866,860 | +€308,000 | +19.8% |
| Profit (loss) carried forward | 14 | €14,917 | €15,384 | +€467 | +3.1% |
| Amounts payable | 17/49 | €2,341,454 | €2,044,020 | -€297,434 | -12.7% |
| Amounts payable after more than one year | 17 | €1,927,446 | €1,638,408 | -€289,038 | -15.0% |
| Financial debts | 170/4 | €1,927,446 | €1,638,408 | -€289,038 | -15.0% |
| Amounts payable within one year | 42/48 | €414,009 | €405,612 | -€8,397 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €154,795 | €153,936 | -€860 | -0.6% |
| Financial debts | 43 | €422 | €0 | -€422 | -100% |
| Credit institutions | 430/8 | €422 | €0 | -€422 | -100% |
| Trade debts | 44 | €200,143 | €144,072 | -€56,071 | -28.0% |
| Suppliers | 440/4 | €200,143 | €144,072 | -€56,071 | -28.0% |
| Taxes, remuneration and social security | 45 | €49,092 | €76,741 | +€27,649 | +56.3% |
| Taxes | 450/3 | €45,399 | €76,741 | +€31,342 | +69.0% |
| Remuneration and social security | 454/9 | €3,693 | €0 | -€3,693 | -100% |
| Other amounts payable | 47/48 | €9,557 | €30,864 | +€21,307 | +223% |
| Remuneration, social security and pensions | 62 | €29,053 | €14,997 | -€14,056 | -48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,006 | €116,791 | +€4,786 | +4.3% |
| Other operating charges | 640/8 | €28,737 | €29,769 | +€1,032 | +3.6% |
| Gross operating margin | 9900 | €629,442 | €600,919 | -€28,522 | -4.5% |
| Operating profit (loss) | 9901 | €459,646 | €439,363 | -€20,284 | -4.4% |
| Financial income | 75/76B | €269,966 | €70,360 | -€199,606 | -73.9% |
| Recurring financial income | 75 | €269,966 | €70,360 | -€199,606 | -73.9% |
| Financial charges | 65/66B | €67,261 | €64,178 | -€3,084 | -4.6% |
| Recurring financial charges | 65 | €67,261 | €64,178 | -€3,084 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €662,350 | €445,545 | -€216,806 | -32.7% |
| Income taxes | 67/77 | €131,535 | €137,078 | +€5,543 | +4.2% |
| Profit (loss) for the period | 9904 | €530,815 | €308,467 | -€222,348 | -41.9% |
| Profit (loss) for the period to be appropriated | 9905 | €530,815 | €308,467 | -€222,348 | -41.9% |
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 29 October 2026 via checked.be.