NIBAL: 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.
NIBAL
Largest movements
- Receivables within one year +€83,995
up €83,995 (+5098.9%), from €1,647 to €85,642
of which Trade receivables: +€80,175
- Tangible fixed assets -€24,924
down €24,924 (-31.9%), from €78,119 to €53,195
of which Plant, machinery and equipment: -€22,161
- Cash -€1,882
down €1,882 (-68.4%), from €2,752 to €871
mainly Receivables within one year (-€83,995) and Net result for the year (-€25,877)
- Debts after one year +€84,695
up €84,695 (+133.1%), from €63,618 to €148,314
- Profit (loss) carried forward -€25,877
down €25,877 (-46.6%), from -€55,589 to -€81,466
- Other operating charges -€4,249
down €4,249 (-80.5%), from €5,276 to €1,028
- Gross operating margin +€3,870
up €3,870 (+140.1%), from €2,761 to €6,631
- Financial charges -€306
down €306 (-79.4%), from €386 to €79
- Depreciation -€198
down €198 (-0.6%), from €31,599 to €31,401
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 | €83,526 | €141,632 | +€58,106 | +69.6% |
| Fixed assets | 21/28 | €79,041 | €54,117 | -€24,924 | -31.5% |
| Tangible fixed assets | 22/27 | €78,119 | €53,195 | -€24,924 | -31.9% |
| Plant, machinery and equipment | 23 | €57,636 | €35,475 | -€22,161 | -38.4% |
| Furniture and vehicles | 24 | €20,483 | €17,720 | -€2,764 | -13.5% |
| Financial fixed assets | 28 | €922 | €922 | = | 0.0% |
| Current assets | 29/58 | €4,485 | €87,515 | +€83,030 | +1851.2% |
| Amounts receivable within one year | 40/41 | €1,647 | €85,642 | +€83,995 | +5098.9% |
| Trade receivables | 40 | - | €80,175 | +€80,175 | |
| Other amounts receivable | 41 | €1,647 | €5,467 | +€3,820 | +231.9% |
| Cash at bank and in hand | 54/58 | €2,752 | €871 | -€1,882 | -68.4% |
| Deferred charges and accrued income | 490/1 | €85 | €1,002 | +€917 | +1073.3% |
| Total equity and liabilities | 10/49 | €83,526 | €141,632 | +€58,106 | +69.6% |
| Equity | 10/15 | €19,191 | -€6,687 | -€25,877 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €69,779 | €69,779 | = | 0.0% |
| Distributable reserves | 133 | €69,779 | €69,779 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,589 | -€81,466 | -€25,877 | -46.6% |
| Amounts payable | 17/49 | €64,335 | €148,318 | +€83,983 | +130.5% |
| Amounts payable after more than one year | 17 | €63,618 | €148,314 | +€84,695 | +133.1% |
| Other amounts payable | 178/9 | €63,618 | €148,314 | +€84,695 | +133.1% |
| Amounts payable within one year | 42/48 | €717 | €4 | -€713 | -99.4% |
| Taxes, remuneration and social security | 45 | €513 | €4 | -€509 | -99.1% |
| Taxes | 450/3 | €513 | €4 | -€509 | -99.1% |
| Other amounts payable | 47/48 | €204 | - | -€204 | |
| Non-recurring operating income | 76A | €1,885 | €612 | -€1,273 | -67.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,599 | €31,401 | -€198 | -0.6% |
| Other operating charges | 640/8 | €5,276 | €1,028 | -€4,249 | -80.5% |
| Gross operating margin | 9900 | €2,761 | €6,631 | +€3,870 | +140.1% |
| Operating profit (loss) | 9901 | -€34,114 | -€25,798 | +€8,316 | +24.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €386 | €79 | -€306 | -79.4% |
| Recurring financial charges | 65 | €386 | €79 | -€306 | -79.4% |
| Profit (loss) for the period before taxes | 9903 | -€34,499 | -€25,877 | +€8,622 | +25.0% |
| Profit (loss) for the period | 9904 | -€34,499 | -€25,877 | +€8,622 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,499 | -€25,877 | +€8,622 | +25.0% |
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 4 October 2026 via checked.be.