NiCADco: 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.
NiCADco
Largest movements
- Tangible fixed assets +€24,141
up €24,141 (+216%), from €11,170 to €35,311
of which Furniture and vehicles: +€20,424
- Cash -€8,209
down €8,209 (-12.9%), from €63,756 to €55,547
mainly Investment in fixed assets (net) (-€30,765) and Contributions, distributions and other (-€18,240)
- Receivables within one year -€4,594
down €4,594 (-13.0%), from €35,340 to €30,746
of which Trade receivables: -€6,481
- Reserves +€13,363
up €13,363 (+7.3%), from €184,280 to €197,643
- Trade debts +€9,688
up €9,688 (+346%), from €2,797 to €12,485
- Tax, wage and social debts -€8,557
no longer reported in 2025 (was €8,557)
of which Taxes: -€5,730
- Gross operating margin -€16,794
down €16,794 (-25.3%), from €66,403 to €49,609
- Taxes -€6,453
down €6,453 (-35.6%), from €18,149 to €11,696
- Depreciation +€5,587
up €5,587 (+539%), from €1,036 to €6,624
- Financial income +€780
up €780 (+248%), from €314 to €1,094
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 | €214,210 | €227,407 | +€13,197 | +6.2% |
| Fixed assets | 21/28 | €11,170 | €35,311 | +€24,141 | +216% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €11,170 | €35,311 | +€24,141 | +216% |
| Land and buildings | 22 | - | €4,753 | +€4,753 | |
| Plant, machinery and equipment | 23 | €6,916 | €5,880 | -€1,036 | -15.0% |
| Furniture and vehicles | 24 | - | €20,424 | +€20,424 | |
| Other tangible fixed assets | 26 | €4,254 | €4,254 | = | 0.0% |
| Current assets | 29/58 | €203,040 | €192,096 | -€10,944 | -5.4% |
| Amounts receivable within one year | 40/41 | €35,340 | €30,746 | -€4,594 | -13.0% |
| Trade receivables | 40 | €31,947 | €25,466 | -€6,481 | -20.3% |
| Other amounts receivable | 41 | €3,393 | €5,280 | +€1,887 | +55.6% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €63,756 | €55,547 | -€8,209 | -12.9% |
| Deferred charges and accrued income | 490/1 | €3,944 | €5,803 | +€1,859 | +47.1% |
| Total equity and liabilities | 10/49 | €214,210 | €227,407 | +€13,197 | +6.2% |
| Equity | 10/15 | €190,480 | €203,843 | +€13,363 | +7.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €184,280 | €197,643 | +€13,363 | +7.3% |
| Distributable reserves | 133 | €184,280 | €197,643 | +€13,363 | +7.3% |
| Amounts payable | 17/49 | €23,730 | €23,564 | -€167 | -0.7% |
| Amounts payable within one year | 42/48 | €23,730 | €23,564 | -€167 | -0.7% |
| Trade debts | 44 | €2,797 | €12,485 | +€9,688 | +346% |
| Suppliers | 440/4 | €2,797 | €12,485 | +€9,688 | +346% |
| Taxes, remuneration and social security | 45 | €8,557 | - | -€8,557 | |
| Taxes | 450/3 | €5,730 | - | -€5,730 | |
| Remuneration and social security | 454/9 | €2,827 | - | -€2,827 | |
| Other amounts payable | 47/48 | €12,376 | €11,079 | -€1,297 | -10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,036 | €6,624 | +€5,587 | +539% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €66,403 | €49,609 | -€16,794 | -25.3% |
| Operating profit (loss) | 9901 | €64,979 | €42,986 | -€21,994 | -33.8% |
| Financial income | 75/76B | €314 | €1,094 | +€780 | +248% |
| Recurring financial income | 75 | €314 | €1,094 | +€780 | +248% |
| Financial charges | 65/66B | €368 | €780 | +€412 | +112% |
| Recurring financial charges | 65 | €368 | €780 | +€412 | +112% |
| Profit (loss) for the period before taxes | 9903 | €64,925 | €43,299 | -€21,625 | -33.3% |
| Income taxes | 67/77 | €18,149 | €11,696 | -€6,453 | -35.6% |
| Profit (loss) for the period | 9904 | €46,776 | €31,603 | -€15,173 | -32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,776 | €31,603 | -€15,173 | -32.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.