NIC: 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.
What changed
NIC
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.9m
2024 · €356,870+€1.5m
Equity
€14.6m
2024 · €12.7m+€1.9m
Cash
€762,264
2024 · €166,361+€595,903
Balance sheet total
€37.4m
2024 · €34.6m+€2.8m
Largest movements
Assets
- Receivables within one year +€1.9m
up €1.9m (+271.5%), from €706,397 to €2.6m
of which Other amounts receivable: +€1.9m
- Cash +€595,903
up €595,903 (+358.2%), from €166,361 to €762,264
mainly Current portion of long-term debt (+€6.5m) and Net result for the year (+€1.9m)
Equity and liabilities
- Current portion of long-term debt +€6.5m
up €6.5m (+1369.8%), from €472,852 to €6.9m
- Debts after one year -€4.5m
down €4.5m (-35.6%), from €12.5m to €8.1m
- Reserves +€1.9m
up €1.9m (+15.5%), from €12.3m to €14.2m
of which Tax-exempt reserves: +€1.0m
- Other debts -€976,560
down €976,560 (-19.6%), from €5.0m to €4.0m
- Trade debts -€509,089
down €509,089 (-56.5%), from €901,293 to €392,204
Income statement
- Gross operating margin +€1.8m
up €1.8m (+236.7%), from €766,866 to €2.6m
- Financial income +€183,450
up €183,450 (+26.4%), from €694,586 to €878,036
- Financial charges -€113,569
down €113,569 (-19.3%), from €587,698 to €474,129
- Depreciation +€52,489
up €52,489 (+11.2%), from €469,212 to €521,701
- Other operating charges -€29,405
down €29,405 (-20.9%), from €140,624 to €111,219
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
€356,870
Gross operating margin
+€1.8m
Staff costs
-€267
Depreciation
-€52,489
Other operating charges
+€29,405
Other operating items
+€1,620
Financial income
+€183,450
Financial charges
+€113,569
Taxes
+€18,418
Deferred taxes and other
-€563,206
Result 2025
€1.9m
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.
From operations
-€697,244
Investment
-€714,468
Financing
+€2.0m
Cash 2024
€166,361
From operations (derived)
-€697,244
Net result for the year
+€1.9m
Depreciation
+€521,701
Receivables after one year
-€85,586
Receivables within one year
-€1.9m
Deferred charges and accrued income
+€1,237
Provisions
+€327,085
Trade debts
-€509,089
Tax, wage and social debts
+€18,618
Other debts
-€976,560
Accrued charges and deferred income
+€21,093
Investment (derived)
-€714,468
Investment in fixed assets (net)
-€385,045
Current investments
-€329,424
Financing
+€2.0m
Debts after one year
-€4.5m
Current portion of long-term debt
+€6.5m
Cash 2025
€762,264
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €34,598,121 | €37,389,280 | +€2.8m | +8.1% |
| Fixed assets | 21/28 | €15,738,200 | €15,601,544 | -€136,656 | -0.9% |
| Tangible fixed assets | 22/27 | €15,723,475 | €15,586,819 | -€136,656 | -0.9% |
| Land and buildings | 22 | €15,678,058 | €15,543,458 | -€134,599 | -0.9% |
| Plant, machinery and equipment | 23 | €1,090 | €1,055 | -€35 | -3.2% |
| Furniture and vehicles | 24 | €44,328 | €42,306 | -€2,023 | -4.6% |
| Financial fixed assets | 28 | €14,725 | €14,725 | = | 0.0% |
| Current assets | 29/58 | €18,859,921 | €21,787,736 | +€2.9m | +15.5% |
| Amounts receivable after more than one year | 29 | €3,548,869 | €3,634,455 | +€85,586 | +2.4% |
| Trade receivables | 290 | €3,548,869 | €3,634,455 | +€85,586 | +2.4% |
| Stocks and contracts in progress | 3 | €4,176,164 | €4,176,164 | = | 0.0% |
| Stocks | 30/36 | €4,176,164 | €4,176,164 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €706,397 | €2,624,537 | +€1.9m | +271.5% |
| Trade receivables | 40 | €29,726 | €27,738 | -€1,987 | -6.7% |
| Other amounts receivable | 41 | €676,672 | €2,596,799 | +€1.9m | +283.8% |
| Current investments | 50/53 | €10,003,686 | €10,333,109 | +€329,424 | +3.3% |
| Cash at bank and in hand | 54/58 | €166,361 | €762,264 | +€595,903 | +358.2% |
| Deferred charges and accrued income | 490/1 | €258,444 | €257,206 | -€1,237 | -0.5% |
| Total equity and liabilities | 10/49 | €34,598,121 | €37,389,280 | +€2.8m | +8.1% |
| Equity | 10/15 | €12,730,561 | €14,632,959 | +€1.9m | +14.9% |
| Contributions | 10/11 | €465,507 | €465,507 | = | 0.0% |
| Capital | 10 | €465,507 | €465,507 | = | 0.0% |
| Issued capital | 100 | €465,507 | €465,507 | = | 0.0% |
| Reserves | 13 | €12,265,054 | €14,167,452 | +€1.9m | +15.5% |
| Non-distributable reserves | 130/1 | €46,551 | €46,551 | = | 0.0% |
| Legal reserve | 130 | €46,551 | €46,551 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,787,486 | €5,818,874 | +€1.0m | +21.5% |
| Distributable reserves | 133 | €7,431,017 | €8,302,027 | +€871,010 | +11.7% |
| Provisions and deferred taxes | 16 | €2,050,001 | €2,377,086 | +€327,085 | +16.0% |
| Provisions for liabilities and charges | 160/5 | €17,997 | €17,997 | = | 0.0% |
| Other liabilities and charges | 164/5 | €17,997 | €17,997 | = | 0.0% |
| Deferred taxes | 168 | €2,032,004 | €2,359,089 | +€327,085 | +16.1% |
| Amounts payable | 17/49 | €19,817,558 | €20,379,234 | +€561,676 | +2.8% |
| Amounts payable after more than one year | 17 | €12,545,472 | €8,075,972 | -€4.5m | -35.6% |
| Financial debts | 170/4 | €12,545,472 | €8,075,972 | -€4.5m | -35.6% |
| Amounts payable within one year | 42/48 | €6,416,385 | €11,426,468 | +€5.0m | +78.1% |
| Current portion of amounts payable after more than one year | 42 | €472,852 | €6,949,966 | +€6.5m | +1369.8% |
| Trade debts | 44 | €901,293 | €392,204 | -€509,089 | -56.5% |
| Suppliers | 440/4 | €901,293 | €392,204 | -€509,089 | -56.5% |
| Taxes, remuneration and social security | 45 | €48,095 | €66,713 | +€18,618 | +38.7% |
| Taxes | 450/3 | €44,907 | €64,645 | +€19,738 | +44.0% |
| Remuneration and social security | 454/9 | €3,188 | €2,069 | -€1,120 | -35.1% |
| Other amounts payable | 47/48 | €4,994,144 | €4,017,584 | -€976,560 | -19.6% |
| Accrued charges and deferred income | 492/3 | €855,702 | €876,795 | +€21,093 | +2.5% |
| Non-recurring operating income | 76A | - | €1,608,717 | +€1.6m | |
| Remuneration, social security and pensions | 62 | €16,127 | €16,394 | +€267 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €469,212 | €521,701 | +€52,489 | +11.2% |
| Other operating charges | 640/8 | €140,624 | €111,219 | -€29,405 | -20.9% |
| Non-recurring operating charges | 66A | €1,620 | €0 | -€1,620 | -100.0% |
| Gross operating margin | 9900 | €766,866 | €2,581,894 | +€1.8m | +236.7% |
| Operating profit (loss) | 9901 | €139,283 | €1,932,580 | +€1.8m | +1287.5% |
| Financial income | 75/76B | €694,586 | €878,036 | +€183,450 | +26.4% |
| Recurring financial income | 75 | €694,586 | €878,036 | +€183,450 | +26.4% |
| Financial charges | 65/66B | €587,698 | €474,129 | -€113,569 | -19.3% |
| Recurring financial charges | 65 | €587,698 | €474,129 | -€113,569 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €246,170 | €2,336,487 | +€2.1m | +849.1% |
| Transfer from deferred taxes | 780 | €236,122 | €69,888 | -€166,234 | -70.4% |
| Transfer to deferred taxes | 680 | - | €396,973 | +€396,973 | |
| Income taxes | 67/77 | €125,422 | €107,004 | -€18,418 | -14.7% |
| Profit (loss) for the period | 9904 | €356,870 | €1,902,398 | +€1.5m | +433.1% |
| Transfer from tax-exempt reserves | 789 | €102,578 | €159,530 | +€56,952 | +55.5% |
| Transfer to tax-exempt reserves | 689 | - | €1,190,918 | +€1.2m | |
| Profit (loss) for the period to be appropriated | 9905 | €459,448 | €871,010 | +€411,562 | +89.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.