Nic’O: 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.
Nic’O
Largest movements
- Receivables within one year -€139,925
down €139,925 (-41.2%), from €340,030 to €200,105
of which Trade receivables: -€123,951
- Trade debts -€130,294
down €130,294 (-88.1%), from €147,850 to €17,556
- Tax, wage and social debts -€17,063
down €17,063 (-41.7%), from €40,889 to €23,826
- Profit (loss) carried forward +€8,280
up €8,280 (+5.5%), from €151,034 to €159,315
- Gross operating margin -€37,051
down €37,051 (-53.1%), from €69,779 to €32,728
- Taxes -€8,057
down €8,057 (-53.7%), from €15,001 to €6,943
- Financial charges +€4,933
up €4,933 (+435%), from €1,133 to €6,066
- Depreciation +€802
new in 2025: €802
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €341,870 | €202,789 | -€139,080 | -40.7% |
| Fixed assets | 21/28 | - | €2,086 | +€2,086 | |
| Tangible fixed assets | 22/27 | - | €2,086 | +€2,086 | |
| Furniture and vehicles | 24 | - | €2,086 | +€2,086 | |
| Current assets | 29/58 | €341,870 | €200,704 | -€141,166 | -41.3% |
| Amounts receivable within one year | 40/41 | €340,030 | €200,105 | -€139,925 | -41.2% |
| Trade receivables | 40 | €233,843 | €109,892 | -€123,951 | -53.0% |
| Other amounts receivable | 41 | €106,187 | €90,213 | -€15,974 | -15.0% |
| Cash at bank and in hand | 54/58 | €1,840 | €337 | -€1,503 | -81.7% |
| Deferred charges and accrued income | 490/1 | - | €262 | +€262 | |
| Total equity and liabilities | 10/49 | €341,870 | €202,789 | -€139,080 | -40.7% |
| Equity | 10/15 | €153,034 | €161,315 | +€8,280 | +5.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,034 | €159,315 | +€8,280 | +5.5% |
| Amounts payable | 17/49 | €188,835 | €41,475 | -€147,360 | -78.0% |
| Amounts payable within one year | 42/48 | €188,739 | €41,382 | -€147,357 | -78.1% |
| Trade debts | 44 | €147,850 | €17,556 | -€130,294 | -88.1% |
| Suppliers | 440/4 | €147,850 | €17,556 | -€130,294 | -88.1% |
| Taxes, remuneration and social security | 45 | €40,889 | €23,826 | -€17,063 | -41.7% |
| Taxes | 450/3 | €40,889 | €23,826 | -€17,063 | -41.7% |
| Accrued charges and deferred income | 492/3 | €96 | €93 | -€3 | -3.3% |
| Non-recurring operating income | 76A | €8,000 | €8,062 | +€62 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €802 | +€802 | |
| Other operating charges | 640/8 | €3,619 | €4,127 | +€508 | +14.0% |
| Non-recurring operating charges | 66A | - | €11,449 | +€11,449 | |
| Gross operating margin | 9900 | €69,779 | €32,728 | -€37,051 | -53.1% |
| Operating profit (loss) | 9901 | €66,160 | €16,349 | -€49,811 | -75.3% |
| Financial income | 75/76B | €4,930 | €4,940 | +€10 | +0.2% |
| Recurring financial income | 75 | €4,930 | €4,940 | +€10 | +0.2% |
| Financial charges | 65/66B | €1,133 | €6,066 | +€4,933 | +435% |
| Recurring financial charges | 65 | €1,133 | €6,066 | +€4,933 | +435% |
| Profit (loss) for the period before taxes | 9903 | €69,957 | €15,223 | -€54,734 | -78.2% |
| Income taxes | 67/77 | €15,001 | €6,943 | -€8,057 | -53.7% |
| Profit (loss) for the period | 9904 | €54,956 | €8,280 | -€46,676 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,956 | €8,280 | -€46,676 | -84.9% |
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 16 October 2026 via checked.be.