NICA Immo: 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.
NICA Immo
Largest movements
- Tangible fixed assets -€70,995
down €70,995 (-5.4%), from €1.3m to €1.2m
of which Land and buildings: -€59,436
- Receivables within one year +€49,409
up €49,409 (+264%), from €18,681 to €68,090
of which Trade receivables: +€45,409
- Debts after one year -€127,595
down €127,595 (-12.4%), from €1.0m to €904,337
- Advances received +€66,659
new in 2025: €66,659
- Current portion of long-term debt +€44,931
up €44,931 (+77.4%), from €58,064 to €102,994
- Gross operating margin +€46,190
up €46,190 (+67.8%), from €68,142 to €114,332
- Financial charges +€13,167
up €13,167 (+96.6%), from €13,627 to €26,794
- Depreciation -€9,504
down €9,504 (-11.8%), from €80,499 to €70,995
- Taxes +€5,071
new in 2025: €5,071
- Other operating charges +€4,555
up €4,555 (+83.0%), from €5,489 to €10,045
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 | €1,441,289 | €1,418,431 | -€22,858 | -1.6% |
| Fixed assets | 21/28 | €1,318,434 | €1,247,440 | -€70,995 | -5.4% |
| Tangible fixed assets | 22/27 | €1,318,434 | €1,247,440 | -€70,995 | -5.4% |
| Land and buildings | 22 | €1,224,488 | €1,165,051 | -€59,436 | -4.9% |
| Other tangible fixed assets | 26 | €93,947 | €82,388 | -€11,559 | -12.3% |
| Current assets | 29/58 | €122,855 | €170,992 | +€48,137 | +39.2% |
| Amounts receivable within one year | 40/41 | €18,681 | €68,090 | +€49,409 | +264% |
| Trade receivables | 40 | €9,681 | €55,090 | +€45,409 | +469% |
| Other amounts receivable | 41 | €9,000 | €13,000 | +€4,000 | +44.4% |
| Current investments | 50/53 | €94,000 | €94,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,174 | €8,902 | -€1,272 | -12.5% |
| Total equity and liabilities | 10/49 | €1,441,289 | €1,418,431 | -€22,858 | -1.6% |
| Equity | 10/15 | €127,332 | €132,561 | +€5,228 | +4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €81,673 | €73,121 | -€8,551 | -10.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €79,813 | €71,261 | -€8,551 | -10.7% |
| Profit (loss) carried forward | 14 | €39,460 | €53,239 | +€13,780 | +34.9% |
| Provisions and deferred taxes | 16 | €26,604 | €22,804 | -€3,801 | -14.3% |
| Deferred taxes | 168 | €26,604 | €22,804 | -€3,801 | -14.3% |
| Amounts payable | 17/49 | €1,287,353 | €1,263,067 | -€24,286 | -1.9% |
| Amounts payable after more than one year | 17 | €1,031,933 | €904,337 | -€127,595 | -12.4% |
| Financial debts | 170/4 | €1,031,933 | €904,337 | -€127,595 | -12.4% |
| Amounts payable within one year | 42/48 | €255,420 | €358,729 | +€103,309 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | €58,064 | €102,994 | +€44,931 | +77.4% |
| Trade debts | 44 | €2,359 | €1,693 | -€666 | -28.2% |
| Suppliers | 440/4 | €2,359 | €1,693 | -€666 | -28.2% |
| Advances received on contracts in progress | 46 | - | €66,659 | +€66,659 | |
| Taxes, remuneration and social security | 45 | €13,491 | €5,876 | -€7,615 | -56.4% |
| Taxes | 450/3 | €13,491 | €5,876 | -€7,615 | -56.4% |
| Other amounts payable | 47/48 | €181,507 | €181,507 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,499 | €70,995 | -€9,504 | -11.8% |
| Other operating charges | 640/8 | €5,489 | €10,045 | +€4,555 | +83.0% |
| Gross operating margin | 9900 | €68,142 | €114,332 | +€46,190 | +67.8% |
| Operating profit (loss) | 9901 | -€17,846 | €33,293 | +€51,138 | |
| Financial income | 75/76B | €35 | - | -€35 | |
| Recurring financial income | 75 | €35 | - | -€35 | |
| Financial charges | 65/66B | €13,627 | €26,794 | +€13,167 | +96.6% |
| Recurring financial charges | 65 | €13,627 | €26,794 | +€13,167 | +96.6% |
| Profit (loss) for the period before taxes | 9903 | -€31,438 | €6,499 | +€37,937 | |
| Transfer from deferred taxes | 780 | €950 | €3,801 | +€2,850 | +300% |
| Income taxes | 67/77 | - | €5,071 | +€5,071 | |
| Profit (loss) for the period | 9904 | -€30,488 | €5,228 | +€35,717 | |
| Transfer from tax-exempt reserves | 789 | €2,850 | €8,551 | +€5,701 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | -€27,638 | €13,780 | +€41,418 |
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 26 October 2026 via checked.be.