NIAMIR: 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.
NIAMIR
Largest movements
- Receivables after one year +€141,509
up €141,509 (+142%), from €100,000 to €241,509
- Stocks and contracts +€51,502
up €51,502 (+39.2%), from €131,494 to €182,996
- Receivables within one year +€23,375
up €23,375 (+37.3%), from €62,649 to €86,024
of which Trade receivables: +€12,022
- Cash +€11,229
up €11,229 (+58.0%), from €19,369 to €30,598
mainly Trade debts (+€138,819) and Debts after one year (+€69,491)
- Trade debts +€138,819
up €138,819 (+69.1%), from €200,772 to €339,591
- Debts after one year +€69,491
new in 2025: €69,491
- Profit (loss) carried forward +€10,282
up €10,282 (+13.3%), from €77,068 to €87,350
- Financial income +€6,583
up €6,583 (+3,859%), from €171 to €6,754
- Other operating charges -€4,841
down €4,841 (-73.6%), from €6,579 to €1,738
- Financial charges -€2,316
down €2,316 (-16.7%), from €13,865 to €11,548
of which Financial charges: -€2,126
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 | €319,841 | €545,374 | +€225,533 | +70.5% |
| Fixed assets | 21/28 | €5,685 | €4,128 | -€1,557 | -27.4% |
| Tangible fixed assets | 22/27 | €5,580 | €4,023 | -€1,557 | -27.9% |
| Furniture and vehicles | 24 | €5,580 | €4,023 | -€1,557 | -27.9% |
| Financial fixed assets | 28 | €105 | €105 | = | 0.0% |
| Current assets | 29/58 | €314,156 | €541,246 | +€227,090 | +72.3% |
| Amounts receivable after more than one year | 29 | €100,000 | €241,509 | +€141,509 | +142% |
| Other amounts receivable | 291 | €100,000 | €241,509 | +€141,509 | +142% |
| Stocks and contracts in progress | 3 | €131,494 | €182,996 | +€51,502 | +39.2% |
| Stocks | 30/36 | €131,494 | €182,996 | +€51,502 | +39.2% |
| Amounts receivable within one year | 40/41 | €62,649 | €86,024 | +€23,375 | +37.3% |
| Trade receivables | 40 | €34,950 | €46,972 | +€12,022 | +34.4% |
| Other amounts receivable | 41 | €27,699 | €39,052 | +€11,353 | +41.0% |
| Cash at bank and in hand | 54/58 | €19,369 | €30,598 | +€11,229 | +58.0% |
| Deferred charges and accrued income | 490/1 | €645 | €118 | -€526 | -81.7% |
| Total equity and liabilities | 10/49 | €319,841 | €545,374 | +€225,533 | +70.5% |
| Equity | 10/15 | €97,068 | €107,350 | +€10,282 | +10.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,068 | €87,350 | +€10,282 | +13.3% |
| Amounts payable | 17/49 | €222,773 | €438,023 | +€215,250 | +96.6% |
| Amounts payable after more than one year | 17 | - | €69,491 | +€69,491 | |
| Other amounts payable | 178/9 | - | €69,491 | +€69,491 | |
| Amounts payable within one year | 42/48 | €222,773 | €368,532 | +€145,759 | +65.4% |
| Current portion of amounts payable after more than one year | 42 | €7,112 | €7,091 | -€21 | -0.3% |
| Trade debts | 44 | €200,772 | €339,591 | +€138,819 | +69.1% |
| Suppliers | 440/4 | €200,772 | €339,591 | +€138,819 | +69.1% |
| Advances received on contracts in progress | 46 | €1,090 | €4,420 | +€3,330 | +306% |
| Taxes, remuneration and social security | 45 | €13,799 | €17,431 | +€3,631 | +26.3% |
| Taxes | 450/3 | €6,835 | €8,331 | +€1,496 | +21.9% |
| Remuneration and social security | 454/9 | €6,965 | €9,100 | +€2,135 | +30.7% |
| Remuneration, social security and pensions | 62 | €27,153 | €27,064 | -€89 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,473 | €2,651 | +€178 | +7.2% |
| Other operating charges | 640/8 | €6,579 | €1,738 | -€4,841 | -73.6% |
| Non-recurring operating charges | 66A | - | €14,413 | +€14,413 | |
| Gross operating margin | 9900 | €64,397 | €63,759 | -€638 | -1.0% |
| Operating profit (loss) | 9901 | €28,192 | €17,893 | -€10,298 | -36.5% |
| Financial income | 75/76B | €171 | €6,754 | +€6,583 | +3,859% |
| Recurring financial income | 75 | €171 | €6,754 | +€6,583 | +3,859% |
| Financial charges | 65/66B | €13,865 | €11,548 | -€2,316 | -16.7% |
| Recurring financial charges | 65 | €13,675 | €11,548 | -€2,126 | -15.5% |
| Non-recurring financial charges | 66B | €190 | - | -€190 | |
| Profit (loss) for the period before taxes | 9903 | €14,498 | €13,098 | -€1,399 | -9.7% |
| Income taxes | 67/77 | €3,202 | €2,816 | -€386 | -12.0% |
| Profit (loss) for the period | 9904 | €11,296 | €10,282 | -€1,013 | -9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,296 | €10,282 | -€1,013 | -9.0% |
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 21 October 2026 via checked.be.