NABIKAL: 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.
NABIKAL
Largest movements
- Cash +€302,233
up €302,233 (+367.9%), from €82,154 to €384,387
mainly Receivables within one year (+€156,307) and Net result for the year (+€130,746)
- Receivables within one year -€156,307
down €156,307 (-93.3%), from €167,561 to €11,253
of which Trade receivables: -€149,220
- Tangible fixed assets +€123,856
up €123,856 (+17.1%), from €724,140 to €847,996
of which Furniture and vehicles: +€93,855
- Stocks and contracts +€18,649
up €18,649 (+13.2%), from €141,397 to €160,046
- Reserves +€121,121
up €121,121 (+35.9%), from €337,848 to €458,969
of which Distributable reserves: +€94,065
- Trade debts +€92,157
up €92,157 (+191.8%), from €48,057 to €140,214
- Debts after one year +€23,562
up €23,562 (+4.2%), from €563,470 to €587,032
- Tax, wage and social debts +€20,888
up €20,888 (+905.2%), from €2,308 to €23,196
- Current portion of long-term debt +€20,000
up €20,000 (+44.7%), from €44,771 to €64,771
- Gross operating margin +€89,063
up €89,063 (+54.0%), from €164,945 to €254,008
- Taxes +€11,810
up €11,810 (+61.4%), from €19,229 to €31,039
- Financial charges +€5,693
up €5,693 (+37.0%), from €15,391 to €21,084
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 | €1,120,045 | €1,408,752 | +€288,707 | +25.8% |
| Fixed assets | 21/28 | €724,140 | €847,996 | +€123,856 | +17.1% |
| Tangible fixed assets | 22/27 | €724,140 | €847,996 | +€123,856 | +17.1% |
| Land and buildings | 22 | €504,370 | €525,302 | +€20,933 | +4.2% |
| Plant, machinery and equipment | 23 | €219,406 | €228,475 | +€9,069 | +4.1% |
| Furniture and vehicles | 24 | €364 | €94,219 | +€93,855 | +25763.8% |
| Current assets | 29/58 | €395,905 | €560,756 | +€164,851 | +41.6% |
| Stocks and contracts in progress | 3 | €141,397 | €160,046 | +€18,649 | +13.2% |
| Stocks | 30/36 | €141,397 | €160,046 | +€18,649 | +13.2% |
| Amounts receivable within one year | 40/41 | €167,561 | €11,253 | -€156,307 | -93.3% |
| Trade receivables | 40 | €149,263 | €44 | -€149,220 | -100.0% |
| Other amounts receivable | 41 | €18,297 | €11,210 | -€7,088 | -38.7% |
| Cash at bank and in hand | 54/58 | €82,154 | €384,387 | +€302,233 | +367.9% |
| Deferred charges and accrued income | 490/1 | €4,794 | €5,070 | +€276 | +5.8% |
| Total equity and liabilities | 10/49 | €1,120,045 | €1,408,752 | +€288,707 | +25.8% |
| Equity | 10/15 | €370,648 | €503,135 | +€132,488 | +35.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €337,848 | €458,969 | +€121,121 | +35.9% |
| Tax-exempt reserves | 132 | - | €27,055 | +€27,055 | |
| Distributable reserves | 133 | €337,848 | €431,914 | +€94,065 | +27.8% |
| Profit (loss) carried forward | 14 | €14,207 | €14,207 | = | 0.0% |
| Investment grants | 15 | - | €11,367 | +€11,367 | |
| Provisions and deferred taxes | 16 | - | €9,617 | +€9,617 | |
| Deferred taxes | 168 | - | €9,617 | +€9,617 | |
| Amounts payable | 17/49 | €749,397 | €896,001 | +€146,603 | +19.6% |
| Amounts payable after more than one year | 17 | €563,470 | €587,032 | +€23,562 | +4.2% |
| Financial debts | 170/4 | €563,470 | €587,032 | +€23,562 | +4.2% |
| Amounts payable within one year | 42/48 | €179,725 | €303,274 | +€123,548 | +68.7% |
| Current portion of amounts payable after more than one year | 42 | €44,771 | €64,771 | +€20,000 | +44.7% |
| Trade debts | 44 | €48,057 | €140,214 | +€92,157 | +191.8% |
| Suppliers | 440/4 | €48,057 | €140,214 | +€92,157 | +191.8% |
| Taxes, remuneration and social security | 45 | €2,308 | €23,196 | +€20,888 | +905.2% |
| Taxes | 450/3 | €2,308 | €23,196 | +€20,888 | +905.2% |
| Other amounts payable | 47/48 | €84,590 | €75,093 | -€9,497 | -11.2% |
| Accrued charges and deferred income | 492/3 | €6,202 | €5,695 | -€508 | -8.2% |
| Non-recurring operating income | 76A | - | €38,500 | +€38,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,020 | €61,951 | -€2,069 | -3.2% |
| Other operating charges | 640/8 | €15,223 | €15,382 | +€159 | +1.0% |
| Gross operating margin | 9900 | €164,945 | €254,008 | +€89,063 | +54.0% |
| Operating profit (loss) | 9901 | €85,701 | €176,675 | +€90,974 | +106.2% |
| Financial income | 75/76B | €5,175 | €5,428 | +€253 | +4.9% |
| Recurring financial income | 75 | €5,175 | €5,428 | +€253 | +4.9% |
| Financial charges | 65/66B | €15,391 | €21,084 | +€5,693 | +37.0% |
| Recurring financial charges | 65 | €15,391 | €21,084 | +€5,693 | +37.0% |
| Profit (loss) for the period before taxes | 9903 | €75,485 | €161,019 | +€85,534 | +113.3% |
| Transfer from deferred taxes | 780 | - | €766 | +€766 | |
| Income taxes | 67/77 | €19,229 | €31,039 | +€11,810 | +61.4% |
| Profit (loss) for the period | 9904 | €56,256 | €130,746 | +€74,490 | +132.4% |
| Transfer from tax-exempt reserves | 789 | - | €1,820 | +€1,820 | |
| Transfer to tax-exempt reserves | 689 | - | €38,500 | +€38,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €56,256 | €94,065 | +€37,810 | +67.2% |
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 9 October 2026 via checked.be.