NiaM: what changed
Two fiscal 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.
NiaM
Largest movements
- Receivables within one year +€17,602
up €17,602 (+303.1%), from €5,806 to €23,408
of which Trade receivables: +€13,221
- Intangible fixed assets -€16,741
down €16,741 (-12.5%), from €133,474 to €116,733
- Tangible fixed assets -€9,677
down €9,677 (-43.7%), from €22,125 to €12,447
of which Furniture and vehicles: -€5,045
- Cash -€3,870
down €3,870 (-8.2%), from €47,047 to €43,177
mainly Debts after one year (-€31,157) and Other debts (-€24,587)
- Stocks and contracts +€3,774
up €3,774 (+50.2%), from €7,514 to €11,287
- Profit (loss) carried forward +€43,839
up €43,839 (+63.1%), from €69,442 to €113,280
- Debts after one year -€31,157
down €31,157 (-49.0%), from €63,564 to €32,408
- Other debts -€24,587
down €24,587 (-78.5%), from €31,321 to €6,734
- Tax, wage and social debts -€3,824
down €3,824 (-51.2%), from €7,468 to €3,644
of which Taxes: -€4,063
- Trade debts +€2,837
up €2,837 (+20.1%), from €14,124 to €16,961
- Gross operating margin +€9,320
up €9,320 (+10.1%), from €91,933 to €101,253
- Financial charges -€1,942
down €1,942 (-33.3%), from €5,837 to €3,896
- Taxes +€1,646
up €1,646 (+15.6%), from €10,542 to €12,188
- Depreciation +€1,418
up €1,418 (+5.7%), from €25,000 to €26,418
- Staff costs +€1,169
up €1,169 (+9.1%), from €12,799 to €13,967
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 | €221,002 | €209,583 | -€11,418 | -5.2% |
| Fixed assets | 21/28 | €156,092 | €129,674 | -€26,418 | -16.9% |
| Intangible fixed assets | 21 | €133,474 | €116,733 | -€16,741 | -12.5% |
| Tangible fixed assets | 22/27 | €22,125 | €12,447 | -€9,677 | -43.7% |
| Plant, machinery and equipment | 23 | €11,119 | €7,379 | -€3,740 | -33.6% |
| Furniture and vehicles | 24 | €7,964 | €2,918 | -€5,045 | -63.4% |
| Other tangible fixed assets | 26 | €3,042 | €2,150 | -€892 | -29.3% |
| Financial fixed assets | 28 | €494 | €494 | = | 0.0% |
| Current assets | 29/58 | €64,910 | €79,909 | +€14,999 | +23.1% |
| Stocks and contracts in progress | 3 | €7,514 | €11,287 | +€3,774 | +50.2% |
| Stocks | 30/36 | €7,514 | €11,287 | +€3,774 | +50.2% |
| Amounts receivable within one year | 40/41 | €5,806 | €23,408 | +€17,602 | +303.1% |
| Trade receivables | 40 | €5,375 | €18,596 | +€13,221 | +246.0% |
| Other amounts receivable | 41 | €431 | €4,812 | +€4,380 | +1015.2% |
| Cash at bank and in hand | 54/58 | €47,047 | €43,177 | -€3,870 | -8.2% |
| Deferred charges and accrued income | 490/1 | €4,543 | €2,037 | -€2,506 | -55.2% |
| Total equity and liabilities | 10/49 | €221,002 | €209,583 | -€11,418 | -5.2% |
| Equity | 10/15 | €74,442 | €118,280 | +€43,839 | +58.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,442 | €113,280 | +€43,839 | +63.1% |
| Amounts payable | 17/49 | €146,560 | €91,303 | -€55,257 | -37.7% |
| Amounts payable after more than one year | 17 | €63,564 | €32,408 | -€31,157 | -49.0% |
| Financial debts | 170/4 | €63,564 | €32,408 | -€31,157 | -49.0% |
| Amounts payable within one year | 42/48 | €82,867 | €58,496 | -€24,371 | -29.4% |
| Current portion of amounts payable after more than one year | 42 | €29,954 | €31,157 | +€1,203 | +4.0% |
| Trade debts | 44 | €14,124 | €16,961 | +€2,837 | +20.1% |
| Suppliers | 440/4 | €14,124 | €16,961 | +€2,837 | +20.1% |
| Taxes, remuneration and social security | 45 | €7,468 | €3,644 | -€3,824 | -51.2% |
| Taxes | 450/3 | €5,723 | €1,660 | -€4,063 | -71.0% |
| Remuneration and social security | 454/9 | €1,746 | €1,984 | +€239 | +13.7% |
| Other amounts payable | 47/48 | €31,321 | €6,734 | -€24,587 | -78.5% |
| Accrued charges and deferred income | 492/3 | €129 | €400 | +€271 | +209.6% |
| Remuneration, social security and pensions | 62 | €12,799 | €13,967 | +€1,169 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,000 | €26,418 | +€1,418 | +5.7% |
| Other operating charges | 640/8 | €740 | €1,017 | +€277 | +37.4% |
| Gross operating margin | 9900 | €91,933 | €101,253 | +€9,320 | +10.1% |
| Operating profit (loss) | 9901 | €53,394 | €59,851 | +€6,457 | +12.1% |
| Financial income | 75/76B | €125 | €72 | -€54 | -42.9% |
| Recurring financial income | 75 | €125 | €72 | -€54 | -42.9% |
| Financial charges | 65/66B | €5,837 | €3,896 | -€1,942 | -33.3% |
| Recurring financial charges | 65 | €5,837 | €3,896 | -€1,942 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €47,683 | €56,027 | +€8,344 | +17.5% |
| Income taxes | 67/77 | €10,542 | €12,188 | +€1,646 | +15.6% |
| Profit (loss) for the period | 9904 | €37,140 | €43,839 | +€6,699 | +18.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,140 | €43,839 | +€6,699 | +18.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.