NIC CONSTRUCT: 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
NIC CONSTRUCT
NACE 68.110, Buying and selling of own real estate
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€50,114
2024 · €117,709-€67,595
Equity
€97,116
2024 · €47,002+€50,114
Cash
€361
2024 · €0+€361
Balance sheet total
€3.8m
2024 · €1.9m+€2.0m
Largest movements
Assets
- Stocks and contracts +€1.9m
up €1.9m (+107.4%), from €1.8m to €3.7m
Equity and liabilities
- Other debts +€2.0m
up €2.0m (+120.2%), from €1.7m to €3.7m
- Advances received -€66,000
down €66,000 (-100.0%), from €66,000 to €0
- Reserves +€50,114
up €50,114 (+144.8%), from €34,602 to €84,716
Income statement
- Gross operating margin -€68,558
down €68,558 (-50.9%), from €134,609 to €66,050
- Other operating charges -€10,084
down €10,084 (-93.3%), from €10,807 to €722
- Taxes +€8,716
up €8,716 (+56.6%), from €15,395 to €24,111
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
€117,709
Gross operating margin
-€68,558
Other operating charges
+€10,084
Financial income
-€116
Financial charges
-€289
Taxes
-€8,716
Result 2025
€50,114
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
+€13,584
Investment
€0
Financing
-€13,224
Cash 2024
€0
From operations (derived)
+€13,584
Net result for the year
+€50,114
Depreciation
+€969
Stocks and contracts
-€1.9m
Receivables within one year
-€32,919
Smaller working-capital items
-€257
Trade debts
-€29,706
Tax, wage and social debts
+€9,669
Advances received
-€66,000
Other debts
+€2.0m
Financing
-€13,224
Short-term financial debts
-€13,224
Cash 2025
€361
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,874,293 | €3,842,994 | +€2.0m | +105.0% |
| Fixed assets | 21/28 | €6,489 | €5,520 | -€969 | -14.9% |
| Tangible fixed assets | 22/27 | €6,089 | €5,120 | -€969 | -15.9% |
| Plant, machinery and equipment | 23 | €4,929 | €4,095 | -€835 | -16.9% |
| Furniture and vehicles | 24 | €1,159 | €1,025 | -€134 | -11.6% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €1,867,804 | €3,837,474 | +€2.0m | +105.5% |
| Stocks and contracts in progress | 3 | €1,802,618 | €3,738,765 | +€1.9m | +107.4% |
| Stocks | 30/36 | €1,802,618 | €3,738,765 | +€1.9m | +107.4% |
| Amounts receivable within one year | 40/41 | €64,635 | €97,555 | +€32,919 | +50.9% |
| Trade receivables | 40 | €54,600 | €73,500 | +€18,900 | +34.6% |
| Other amounts receivable | 41 | €10,035 | €24,055 | +€14,019 | +139.7% |
| Cash at bank and in hand | 54/58 | €0 | €361 | +€361 | |
| Deferred charges and accrued income | 490/1 | €551 | €794 | +€243 | +44.0% |
| Total equity and liabilities | 10/49 | €1,874,293 | €3,842,994 | +€2.0m | +105.0% |
| Equity | 10/15 | €47,002 | €97,116 | +€50,114 | +106.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €34,602 | €84,716 | +€50,114 | +144.8% |
| Distributable reserves | 133 | €34,602 | €84,716 | +€50,114 | +144.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,827,291 | €3,745,877 | +€1.9m | +105.0% |
| Amounts payable within one year | 42/48 | €1,826,834 | €3,745,435 | +€1.9m | +105.0% |
| Financial debts | 43 | €25,249 | €12,026 | -€13,224 | -52.4% |
| Credit institutions | 430/8 | €25,249 | €12,026 | -€13,224 | -52.4% |
| Trade debts | 44 | €41,074 | €11,368 | -€29,706 | -72.3% |
| Suppliers | 440/4 | €41,074 | €11,368 | -€29,706 | -72.3% |
| Advances received on contracts in progress | 46 | €66,000 | €0 | -€66,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €16,077 | €25,746 | +€9,669 | +60.1% |
| Taxes | 450/3 | €16,077 | €25,746 | +€9,669 | +60.1% |
| Other amounts payable | 47/48 | €1,678,433 | €3,696,295 | +€2.0m | +120.2% |
| Accrued charges and deferred income | 492/3 | €457 | €443 | -€14 | -3.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €969 | €969 | = | 0.0% |
| Other operating charges | 640/8 | €10,807 | €722 | -€10,084 | -93.3% |
| Gross operating margin | 9900 | €134,609 | €66,050 | -€68,558 | -50.9% |
| Operating profit (loss) | 9901 | €122,833 | €64,359 | -€58,474 | -47.6% |
| Financial income | 75/76B | €13,658 | €13,542 | -€116 | -0.8% |
| Recurring financial income | 75 | €13,658 | €13,542 | -€116 | -0.8% |
| Financial charges | 65/66B | €3,387 | €3,676 | +€289 | +8.5% |
| Recurring financial charges | 65 | €3,387 | €3,676 | +€289 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €133,105 | €74,225 | -€58,879 | -44.2% |
| Income taxes | 67/77 | €15,395 | €24,111 | +€8,716 | +56.6% |
| Profit (loss) for the period | 9904 | €117,709 | €50,114 | -€67,595 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €117,709 | €50,114 | -€67,595 | -57.4% |
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 9 October 2026 via checked.be.