N.I.V.O.: 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.
N.I.V.O.
Largest movements
- Cash +€167,895
up €167,895 (+214%), from €78,302 to €246,197
mainly Net result for the year (+€163,668) and Depreciation (+€126,736)
- Tangible fixed assets -€93,993
down €93,993 (-2.8%), from €3.3m to €3.2m
of which Land and buildings: -€97,031
- Profit (loss) carried forward +€163,668
up €163,668 (+15.5%), from €1.1m to €1.2m
- Investment grants -€68,973
down €68,973 (-3.8%), from €1.8m to €1.8m
- Debts after one year -€37,772
down €37,772 (-6.6%), from €575,677 to €537,905
- Gross operating margin -€304,116
down €304,116 (-62.8%), from €484,619 to €180,503
- Financial income +€86,190
up €86,190 (+125%), from €69,085 to €155,275
of which Non-recurring financial income: +€85,000
- Purchases and services +€42,389
up €42,389 (+26.3%), from €161,342 to €203,730
- Financial charges +€7,684
up €7,684 (+1,013%), from €759 to €8,442
of which Financial charges: +€7,684
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 | €3,683,105 | €3,737,791 | +€54,686 | +1.5% |
| Fixed assets | 21/28 | €3,321,931 | €3,229,480 | -€92,452 | -2.8% |
| Intangible fixed assets | 21 | €592 | €2,133 | +€1,541 | +260% |
| Tangible fixed assets | 22/27 | €3,320,839 | €3,226,846 | -€93,993 | -2.8% |
| Land and buildings | 22 | €3,184,488 | €3,087,457 | -€97,031 | -3.0% |
| Plant, machinery and equipment | 23 | €105,994 | €115,351 | +€9,356 | +8.8% |
| Furniture and vehicles | 24 | €30,356 | €24,039 | -€6,317 | -20.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €361,174 | €508,311 | +€147,137 | +40.7% |
| Amounts receivable within one year | 40/41 | €275,310 | €258,615 | -€16,695 | -6.1% |
| Trade receivables | 40 | €275,310 | €258,360 | -€16,950 | -6.2% |
| Other amounts receivable | 41 | - | €255 | +€255 | |
| Cash at bank and in hand | 54/58 | €78,302 | €246,197 | +€167,895 | +214% |
| Deferred charges and accrued income | 490/1 | €7,563 | €3,499 | -€4,064 | -53.7% |
| Total equity and liabilities | 10/49 | €3,683,105 | €3,737,791 | +€54,686 | +1.5% |
| Equity | 10/15 | €2,881,531 | €2,976,226 | +€94,695 | +3.3% |
| Profit (loss) carried forward | 14 | €1,054,772 | €1,218,440 | +€163,668 | +15.5% |
| Investment grants | 15 | €1,826,759 | €1,757,786 | -€68,973 | -3.8% |
| Amounts payable | 17/49 | €801,574 | €761,565 | -€40,010 | -5.0% |
| Amounts payable after more than one year | 17 | €575,677 | €537,905 | -€37,772 | -6.6% |
| Financial debts | 170/4 | €575,677 | €537,905 | -€37,772 | -6.6% |
| Amounts payable within one year | 42/48 | €52,654 | €65,376 | +€12,722 | +24.2% |
| Current portion of amounts payable after more than one year | 42 | €40,889 | €37,772 | -€3,117 | -7.6% |
| Trade debts | 44 | €6,337 | €13,345 | +€7,008 | +111% |
| Suppliers | 440/4 | €6,337 | €13,345 | +€7,008 | +111% |
| Advances received on contracts in progress | 46 | - | €9,050 | +€9,050 | |
| Taxes, remuneration and social security | 45 | €1,961 | €5,208 | +€3,248 | +166% |
| Remuneration and social security | 454/9 | €1,961 | €5,208 | +€3,248 | +166% |
| Accrued charges and deferred income | 492/3 | €173,243 | €158,284 | -€14,959 | -8.6% |
| Turnover | 70 | €64,551 | €67,987 | +€3,436 | +5.3% |
| Membership fees, donations, legacies and grants | 73 | €581,410 | €316,247 | -€265,163 | -45.6% |
| Goods, raw materials, services and sundry goods | 60/61 | €161,342 | €203,730 | +€42,389 | +26.3% |
| Remuneration, social security and pensions | 62 | €35,038 | €35,425 | +€386 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,099 | €126,736 | +€637 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,329 | €0 | -€1,329 | -100% |
| Other operating charges | 640/8 | €301 | €1,508 | +€1,207 | +401% |
| Gross operating margin | 9900 | €484,619 | €180,503 | -€304,116 | -62.8% |
| Operating profit (loss) | 9901 | €321,853 | €16,835 | -€305,018 | -94.8% |
| Financial income | 75/76B | €69,085 | €155,275 | +€86,190 | +125% |
| Recurring financial income | 75 | €69,085 | €70,275 | +€1,190 | +1.7% |
| Non-recurring financial income | 76B | - | €85,000 | +€85,000 | |
| Financial charges | 65/66B | €759 | €8,442 | +€7,684 | +1,013% |
| Recurring financial charges | 65 | €759 | €8,442 | +€7,684 | +1,013% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €390,179 | €163,668 | -€226,511 | -58.1% |
| Profit (loss) for the period | 9904 | €390,179 | €163,668 | -€226,511 | -58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €390,179 | €163,668 | -€226,511 | -58.1% |
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 28 October 2026 via checked.be.