NIAVO: 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.
NIAVO
Largest movements
- Cash -€16,891
down €16,891 (-38.5%), from €43,907 to €27,016
mainly Other debts (-€28,174) and Investment in fixed assets (net) (-€9,559)
- Tangible fixed assets -€14,082
down €14,082 (-14.3%), from €98,297 to €84,215
- Deferred charges and accrued income -€3,560
down €3,560 (-100%), from €3,560 to €0
- Other debts -€28,174
down €28,174 (-100%), from €28,174 to €0
- Reserves +€8,306
up €8,306 (+18.0%), from €46,051 to €54,357
- Debts after one year -€6,815
down €6,815 (-11.4%), from €59,950 to €53,135
- Tax, wage and social debts -€6,142
down €6,142 (-47.8%), from €12,855 to €6,713
of which Taxes: -€3,742
- Trade debts -€3,023
down €3,023 (-30.8%), from €9,831 to €6,808
- Gross operating margin +€11,433
up €11,433 (+36.3%), from €31,460 to €42,894
- Depreciation +€6,942
up €6,942 (+41.6%), from €16,699 to €23,641
- Financial charges -€2,837
down €2,837 (-47.0%), from €6,035 to €3,198
- Taxes +€2,405
up €2,405 (+94.0%), from €2,558 to €4,963
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 | €170,168 | €134,028 | -€36,140 | -21.2% |
| Fixed assets | 21/28 | €98,297 | €84,215 | -€14,082 | -14.3% |
| Tangible fixed assets | 22/27 | €98,297 | €84,215 | -€14,082 | -14.3% |
| Land and buildings | 22 | €24,382 | €19,270 | -€5,111 | -21.0% |
| Furniture and vehicles | 24 | €12,146 | €10,038 | -€2,108 | -17.4% |
| Other tangible fixed assets | 26 | €61,770 | €54,907 | -€6,863 | -11.1% |
| Current assets | 29/58 | €71,870 | €49,813 | -€22,057 | -30.7% |
| Amounts receivable within one year | 40/41 | €24,403 | €22,797 | -€1,606 | -6.6% |
| Trade receivables | 40 | €16,961 | €17,240 | +€279 | +1.6% |
| Other amounts receivable | 41 | €7,442 | €5,557 | -€1,884 | -25.3% |
| Cash at bank and in hand | 54/58 | €43,907 | €27,016 | -€16,891 | -38.5% |
| Deferred charges and accrued income | 490/1 | €3,560 | €0 | -€3,560 | -100% |
| Total equity and liabilities | 10/49 | €170,168 | €134,028 | -€36,140 | -21.2% |
| Equity | 10/15 | €52,251 | €60,557 | +€8,306 | +15.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €46,051 | €54,357 | +€8,306 | +18.0% |
| Distributable reserves | 133 | €46,051 | €54,357 | +€8,306 | +18.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €117,917 | €73,471 | -€44,446 | -37.7% |
| Amounts payable after more than one year | 17 | €59,950 | €53,135 | -€6,815 | -11.4% |
| Financial debts | 170/4 | €59,950 | €53,135 | -€6,815 | -11.4% |
| Amounts payable within one year | 42/48 | €57,516 | €20,336 | -€37,181 | -64.6% |
| Current portion of amounts payable after more than one year | 42 | €6,657 | €6,815 | +€158 | +2.4% |
| Trade debts | 44 | €9,831 | €6,808 | -€3,023 | -30.8% |
| Suppliers | 440/4 | €9,831 | €6,808 | -€3,023 | -30.8% |
| Taxes, remuneration and social security | 45 | €12,855 | €6,713 | -€6,142 | -47.8% |
| Taxes | 450/3 | €10,455 | €6,713 | -€3,742 | -35.8% |
| Remuneration and social security | 454/9 | €2,400 | €0 | -€2,400 | -100% |
| Other amounts payable | 47/48 | €28,174 | €0 | -€28,174 | -100% |
| Accrued charges and deferred income | 492/3 | €450 | €0 | -€450 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,699 | €23,641 | +€6,942 | +41.6% |
| Other operating charges | 640/8 | €2,753 | €2,785 | +€32 | +1.2% |
| Gross operating margin | 9900 | €31,460 | €42,894 | +€11,433 | +36.3% |
| Operating profit (loss) | 9901 | €12,008 | €16,467 | +€4,459 | +37.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €6,035 | €3,198 | -€2,837 | -47.0% |
| Recurring financial charges | 65 | €6,035 | €3,198 | -€2,837 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €5,973 | €13,269 | +€7,296 | +122% |
| Income taxes | 67/77 | €2,558 | €4,963 | +€2,405 | +94.0% |
| Profit (loss) for the period | 9904 | €3,415 | €8,306 | +€4,891 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €3,415 | €8,306 | +€4,891 | +143% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.