NIBACO: 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.
NIBACO
Largest movements
- Current investments +€394,208
up €394,208 (+44.7%), from €882,583 to €1.3m
- Cash -€352,411
down €352,411 (-78.6%), from €448,249 to €95,837
mainly Current investments (-€394,208) and Debts after one year (-€112,380)
- Tangible fixed assets -€106,328
down €106,328 (-3.5%), from €3.0m to €2.9m
of which Land and buildings: -€105,595
- Debts after one year -€112,380
down €112,380 (-50.9%), from €220,974 to €108,594
- Reserves +€60,918
up €60,918 (+8.5%), from €717,034 to €777,952
- Gross operating margin +€55,801
up €55,801 (+99.0%), from €56,368 to €112,170
- Financial income -€32,248
down €32,248 (-15.5%), from €208,537 to €176,288
- Financial charges +€9,641
up €9,641 (+11.4%), from €84,608 to €94,249
- Taxes +€1,518
up €1,518 (+28.5%), from €5,327 to €6,845
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 | €5,101,874 | €5,080,922 | -€20,951 | -0.4% |
| Fixed assets | 21/28 | €3,085,016 | €2,978,688 | -€106,328 | -3.4% |
| Tangible fixed assets | 22/27 | €3,035,016 | €2,928,688 | -€106,328 | -3.5% |
| Land and buildings | 22 | €3,032,085 | €2,926,489 | -€105,595 | -3.5% |
| Furniture and vehicles | 24 | €2,931 | €2,198 | -€733 | -25.0% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €2,016,858 | €2,102,235 | +€85,377 | +4.2% |
| Amounts receivable within one year | 40/41 | €685,451 | €728,581 | +€43,130 | +6.3% |
| Trade receivables | 40 | €3,346 | €23,186 | +€19,841 | +593.0% |
| Other amounts receivable | 41 | €682,106 | €705,395 | +€23,289 | +3.4% |
| Current investments | 50/53 | €882,583 | €1,276,791 | +€394,208 | +44.7% |
| Cash at bank and in hand | 54/58 | €448,249 | €95,837 | -€352,411 | -78.6% |
| Deferred charges and accrued income | 490/1 | €575 | €1,025 | +€450 | +78.3% |
| Total equity and liabilities | 10/49 | €5,101,874 | €5,080,922 | -€20,951 | -0.4% |
| Equity | 10/15 | €4,738,922 | €4,799,840 | +€60,918 | +1.3% |
| Contributions | 10/11 | €1,181,000 | €1,181,000 | = | 0.0% |
| Reserves | 13 | €717,034 | €777,952 | +€60,918 | +8.5% |
| Distributable reserves | 133 | €717,034 | €777,952 | +€60,918 | +8.5% |
| Profit (loss) carried forward | 14 | €2,840,888 | €2,840,888 | = | 0.0% |
| Amounts payable | 17/49 | €362,952 | €281,083 | -€81,869 | -22.6% |
| Amounts payable after more than one year | 17 | €220,974 | €108,594 | -€112,380 | -50.9% |
| Financial debts | 170/4 | €220,974 | €108,594 | -€112,380 | -50.9% |
| Amounts payable within one year | 42/48 | €141,978 | €172,489 | +€30,511 | +21.5% |
| Current portion of amounts payable after more than one year | 42 | €112,380 | €112,380 | = | 0.0% |
| Trade debts | 44 | €23,986 | €50,184 | +€26,198 | +109.2% |
| Suppliers | 440/4 | €23,986 | €50,184 | +€26,198 | +109.2% |
| Taxes, remuneration and social security | 45 | €227 | €6,325 | +€6,098 | +2688.3% |
| Taxes | 450/3 | €227 | €6,325 | +€6,098 | +2688.3% |
| Other amounts payable | 47/48 | €5,385 | €3,600 | -€1,785 | -33.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,773 | €106,328 | -€445 | -0.4% |
| Other operating charges | 640/8 | €20,643 | €20,117 | -€525 | -2.5% |
| Gross operating margin | 9900 | €56,368 | €112,170 | +€55,801 | +99.0% |
| Operating profit (loss) | 9901 | -€71,048 | -€14,276 | +€56,772 | +79.9% |
| Financial income | 75/76B | €208,537 | €176,288 | -€32,248 | -15.5% |
| Recurring financial income | 75 | €208,537 | €176,288 | -€32,248 | -15.5% |
| Financial charges | 65/66B | €84,608 | €94,249 | +€9,641 | +11.4% |
| Recurring financial charges | 65 | €84,608 | €94,249 | +€9,641 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €52,881 | €67,764 | +€14,882 | +28.1% |
| Income taxes | 67/77 | €5,327 | €6,845 | +€1,518 | +28.5% |
| Profit (loss) for the period | 9904 | €47,554 | €60,918 | +€13,364 | +28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,554 | €60,918 | +€13,364 | +28.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.