NIBECO: 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.
What changed
NIBECO
NACE 43.320, Joinery installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€20,705
2024 · €52,526-€31,821
Equity
€151,055
2024 · €130,349+€20,705
Cash
€15,693
2024 · €6,536+€9,157
Balance sheet total
€926,631
2024 · €943,538-€16,907
Largest movements
Assets
- Tangible fixed assets -€34,441
down €34,441 (-4.8%), from €715,053 to €680,612
of which Leasing and similar rights: -€50,389
- Deferred charges and accrued income +€9,805
up €9,805 (+67.6%), from €14,495 to €24,300
Equity and liabilities
- Tax, wage and social debts +€61,187
up €61,187 (+42.2%), from €144,907 to €206,094
of which Taxes: +€33,891
- Trade debts -€53,960
down €53,960 (-46.1%), from €117,090 to €63,130
- Advances received -€27,552
no longer reported in 2025 (was €27,552)
- Profit (loss) carried forward +€20,705
up €20,705 (+34.7%), from -€59,651 to -€38,945
- Other debts -€15,784
down €15,784 (-32.5%), from €48,544 to €32,760
Income statement
- Staff costs +€88,015
up €88,015 (+25.0%), from €352,308 to €440,323
- Gross operating margin +€62,357
up €62,357 (+11.7%), from €532,263 to €594,620
- Financial charges +€6,812
up €6,812 (+29.9%), from €22,820 to €29,632
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.
Result 2024
€52,526
Gross operating margin
+€62,357
Staff costs
-€88,015
Depreciation
-€2,810
Other operating charges
+€576
Other operating items
+€1,803
Financial income
+€1,167
Financial charges
-€6,812
Taxes
-€85
Result 2025
€20,705
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€68,478
Investment
-€57,817
Financing
-€1,504
Cash 2024
€6,536
From operations (derived)
+€68,478
Net result for the year
+€20,705
Depreciation
+€98,519
Stocks and contracts
-€7,425
Receivables within one year
+€2,592
Deferred charges and accrued income
-€9,805
Trade debts
-€53,960
Tax, wage and social debts
+€61,187
Advances received
-€27,552
Other debts
-€15,784
Investment (derived)
-€57,817
Investment in fixed assets (net)
-€57,608
Current investments
-€209
Financing
-€1,504
Debts after one year
-€10,665
Current portion of long-term debt
+€7,953
Short-term financial debts
+€1,209
Cash 2025
€15,693
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €943,538 | €926,631 | -€16,907 | -1.8% |
| Fixed assets | 21/28 | €736,935 | €696,024 | -€40,911 | -5.6% |
| Intangible fixed assets | 21 | €20,805 | €14,335 | -€6,470 | -31.1% |
| Tangible fixed assets | 22/27 | €715,053 | €680,612 | -€34,441 | -4.8% |
| Land and buildings | 22 | €552,819 | €578,349 | +€25,531 | +4.6% |
| Plant, machinery and equipment | 23 | €20,371 | €13,740 | -€6,631 | -32.6% |
| Furniture and vehicles | 24 | €11,693 | €8,741 | -€2,952 | -25.2% |
| Leasing and similar rights | 25 | €130,171 | €79,782 | -€50,389 | -38.7% |
| Financial fixed assets | 28 | €1,077 | €1,077 | = | 0.0% |
| Current assets | 29/58 | €206,603 | €230,607 | +€24,004 | +11.6% |
| Stocks and contracts in progress | 3 | €45,055 | €52,480 | +€7,425 | +16.5% |
| Stocks | 30/36 | €36,302 | €36,640 | +€338 | +0.9% |
| Contracts in progress | 37 | €8,753 | €15,840 | +€7,087 | +81.0% |
| Amounts receivable within one year | 40/41 | €140,504 | €137,912 | -€2,592 | -1.8% |
| Trade receivables | 40 | €140,504 | €137,912 | -€2,592 | -1.8% |
| Current investments | 50/53 | €13 | €222 | +€209 | +1,598% |
| Cash at bank and in hand | 54/58 | €6,536 | €15,693 | +€9,157 | +140% |
| Deferred charges and accrued income | 490/1 | €14,495 | €24,300 | +€9,805 | +67.6% |
| Total equity and liabilities | 10/49 | €943,538 | €926,631 | -€16,907 | -1.8% |
| Equity | 10/15 | €130,349 | €151,055 | +€20,705 | +15.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Revaluation surpluses | 12 | €150,000 | €150,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€59,651 | -€38,945 | +€20,705 | +34.7% |
| Amounts payable | 17/49 | €813,189 | €775,576 | -€37,613 | -4.6% |
| Amounts payable after more than one year | 17 | €383,152 | €372,487 | -€10,665 | -2.8% |
| Financial debts | 170/4 | €383,152 | €372,487 | -€10,665 | -2.8% |
| Amounts payable within one year | 42/48 | €430,037 | €403,090 | -€26,947 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €91,944 | €99,897 | +€7,953 | +8.6% |
| Financial debts | 43 | - | €1,209 | +€1,209 | |
| Credit institutions | 430/8 | - | €1,209 | +€1,209 | |
| Trade debts | 44 | €117,090 | €63,130 | -€53,960 | -46.1% |
| Suppliers | 440/4 | €117,090 | €63,130 | -€53,960 | -46.1% |
| Advances received on contracts in progress | 46 | €27,552 | - | -€27,552 | |
| Taxes, remuneration and social security | 45 | €144,907 | €206,094 | +€61,187 | +42.2% |
| Taxes | 450/3 | €12,259 | €46,150 | +€33,891 | +276% |
| Remuneration and social security | 454/9 | €132,648 | €159,944 | +€27,296 | +20.6% |
| Other amounts payable | 47/48 | €48,544 | €32,760 | -€15,784 | -32.5% |
| Remuneration, social security and pensions | 62 | €352,308 | €440,323 | +€88,015 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,709 | €98,519 | +€2,810 | +2.9% |
| Other operating charges | 640/8 | €7,007 | €6,431 | -€576 | -8.2% |
| Non-recurring operating charges | 66A | €1,803 | - | -€1,803 | |
| Gross operating margin | 9900 | €532,263 | €594,620 | +€62,357 | +11.7% |
| Operating profit (loss) | 9901 | €75,437 | €49,347 | -€26,089 | -34.6% |
| Financial income | 75/76B | - | €1,167 | +€1,167 | |
| Recurring financial income | 75 | - | €1,167 | +€1,167 | |
| Financial charges | 65/66B | €22,820 | €29,632 | +€6,812 | +29.9% |
| Recurring financial charges | 65 | €22,820 | €29,632 | +€6,812 | +29.9% |
| Profit (loss) for the period before taxes | 9903 | €52,617 | €20,882 | -€31,735 | -60.3% |
| Income taxes | 67/77 | €91 | €176 | +€85 | +94.0% |
| Profit (loss) for the period | 9904 | €52,526 | €20,705 | -€31,821 | -60.6% |
| Profit (loss) for the period to be appropriated | 9905 | €52,526 | €20,705 | -€31,821 | -60.6% |
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 23 October 2026 via checked.be.