Nibora: 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.
Nibora
Largest movements
- Tangible fixed assets +€97,153
up €97,153 (+543.7%), from €17,870 to €115,024
of which Furniture and vehicles: +€93,156
- Cash -€12,389
down €12,389 (-32.6%), from €38,009 to €25,621
mainly Contributions, distributions and other (-€150,350) and Investment in fixed assets (net) (-€111,596)
- Deferred charges and accrued income +€3,294
up €3,294 (+55.4%), from €5,942 to €9,236
- Current portion of long-term debt +€58,213
up €58,213 (+801.5%), from €7,263 to €65,476
- Debts after one year +€33,070
up €33,070 (+1074.7%), from €3,077 to €36,147
- Gross operating margin +€13,686
up €13,686 (+6.9%), from €199,329 to €213,015
- Depreciation +€2,927
up €2,927 (+25.4%), from €11,516 to €14,443
- Taxes +€2,406
up €2,406 (+5.6%), from €43,090 to €45,496
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 | €179,141 | €269,627 | +€90,486 | +50.5% |
| Fixed assets | 21/28 | €17,870 | €115,024 | +€97,153 | +543.7% |
| Tangible fixed assets | 22/27 | €17,870 | €115,024 | +€97,153 | +543.7% |
| Plant, machinery and equipment | 23 | €4,239 | €8,236 | +€3,997 | +94.3% |
| Furniture and vehicles | 24 | €13,631 | €106,788 | +€93,156 | +683.4% |
| Current assets | 29/58 | €161,270 | €154,603 | -€6,667 | -4.1% |
| Amounts receivable after more than one year | 29 | - | €250 | +€250 | |
| Other amounts receivable | 291 | - | €250 | +€250 | |
| Amounts receivable within one year | 40/41 | €117,319 | €119,496 | +€2,178 | +1.9% |
| Trade receivables | 40 | €99,461 | €88,492 | -€10,969 | -11.0% |
| Other amounts receivable | 41 | €17,858 | €31,005 | +€13,147 | +73.6% |
| Cash at bank and in hand | 54/58 | €38,009 | €25,621 | -€12,389 | -32.6% |
| Deferred charges and accrued income | 490/1 | €5,942 | €9,236 | +€3,294 | +55.4% |
| Total equity and liabilities | 10/49 | €179,141 | €269,627 | +€90,486 | +50.5% |
| Equity | 10/15 | €16,969 | €17,400 | +€431 | +2.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €400 | €400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €400 | €400 | = | 0.0% |
| Reserves not available under the articles | 1311 | €400 | €400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,569 | €13,000 | +€431 | +3.4% |
| Amounts payable | 17/49 | €162,171 | €252,227 | +€90,055 | +55.5% |
| Amounts payable after more than one year | 17 | €3,077 | €36,147 | +€33,070 | +1074.7% |
| Financial debts | 170/4 | €3,077 | €36,147 | +€33,070 | +1074.7% |
| Amounts payable within one year | 42/48 | €159,094 | €216,079 | +€56,985 | +35.8% |
| Current portion of amounts payable after more than one year | 42 | €7,263 | €65,476 | +€58,213 | +801.5% |
| Trade debts | 44 | €1,832 | €188 | -€1,644 | -89.7% |
| Suppliers | 440/4 | €1,832 | €188 | -€1,644 | -89.7% |
| Taxes, remuneration and social security | 45 | €25,875 | €26,001 | +€126 | +0.5% |
| Taxes | 450/3 | €25,875 | €25,953 | +€78 | +0.3% |
| Remuneration and social security | 454/9 | - | €48 | +€48 | |
| Other amounts payable | 47/48 | €124,125 | €124,414 | +€289 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,516 | €14,443 | +€2,927 | +25.4% |
| Other operating charges | 640/8 | €1,318 | €1,529 | +€211 | +16.0% |
| Gross operating margin | 9900 | €199,329 | €213,015 | +€13,686 | +6.9% |
| Operating profit (loss) | 9901 | €186,495 | €197,043 | +€10,548 | +5.7% |
| Financial income | 75/76B | €86 | €223 | +€137 | +159.3% |
| Recurring financial income | 75 | €86 | €223 | +€137 | +159.3% |
| Financial charges | 65/66B | €568 | €989 | +€421 | +74.1% |
| Recurring financial charges | 65 | €568 | €989 | +€421 | +74.1% |
| Profit (loss) for the period before taxes | 9903 | €186,013 | €196,277 | +€10,264 | +5.5% |
| Income taxes | 67/77 | €43,090 | €45,496 | +€2,406 | +5.6% |
| Profit (loss) for the period | 9904 | €142,922 | €150,780 | +€7,858 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €142,922 | €150,780 | +€7,858 | +5.5% |
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.