NICAMI: 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.
NICAMI
Largest movements
- Receivables after one year -€68,000
down €68,000 (-14.2%), from €477,667 to €409,667
- Current investments +€58,939
up €58,939 (+589%), from €10,000 to €68,939
- Tangible fixed assets -€32,464
down €32,464 (-7.4%), from €436,708 to €404,244
of which Land and buildings: -€28,611
- Debts after one year -€41,157
down €41,157 (-9.7%), from €424,849 to €383,693
- Financial income -€175,968
down €175,968 (-88.8%), from €198,215 to €22,247
- Gross operating margin +€18,842
up €18,842 (+22.9%), from €82,310 to €101,153
- Taxes -€11,613
down €11,613 (-37.9%), from €30,650 to €19,037
- Financial charges +€6,090
up €6,090 (+61.8%), from €9,847 to €15,937
- Depreciation +€3,094
up €3,094 (+7.7%), from €40,006 to €43,100
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 | €1,384,790 | €1,319,699 | -€65,092 | -4.7% |
| Fixed assets | 21/28 | €776,018 | €733,744 | -€42,274 | -5.4% |
| Tangible fixed assets | 22/27 | €436,708 | €404,244 | -€32,464 | -7.4% |
| Land and buildings | 22 | €413,138 | €384,527 | -€28,611 | -6.9% |
| Plant, machinery and equipment | 23 | €3,606 | €2,705 | -€902 | -25.0% |
| Furniture and vehicles | 24 | €19,964 | €17,012 | -€2,952 | -14.8% |
| Financial fixed assets | 28 | €339,310 | €329,500 | -€9,810 | -2.9% |
| Current assets | 29/58 | €608,772 | €585,955 | -€22,817 | -3.7% |
| Amounts receivable after more than one year | 29 | €477,667 | €409,667 | -€68,000 | -14.2% |
| Other amounts receivable | 291 | €477,667 | €409,667 | -€68,000 | -14.2% |
| Amounts receivable within one year | 40/41 | €12,309 | €12,199 | -€110 | -0.9% |
| Other amounts receivable | 41 | €12,309 | €12,199 | -€110 | -0.9% |
| Current investments | 50/53 | €10,000 | €68,939 | +€58,939 | +589% |
| Cash at bank and in hand | 54/58 | €108,796 | €95,150 | -€13,646 | -12.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,384,790 | €1,319,699 | -€65,092 | -4.7% |
| Equity | 10/15 | €902,523 | €893,409 | -€9,114 | -1.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €883,923 | €874,809 | -€9,114 | -1.0% |
| Tax-exempt reserves | 132 | €31,150 | €31,150 | = | 0.0% |
| Distributable reserves | 133 | €852,773 | €843,659 | -€9,114 | -1.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €482,267 | €426,290 | -€55,977 | -11.6% |
| Amounts payable after more than one year | 17 | €424,849 | €383,693 | -€41,157 | -9.7% |
| Financial debts | 170/4 | €424,849 | €383,693 | -€41,157 | -9.7% |
| Amounts payable within one year | 42/48 | €56,918 | €42,097 | -€14,821 | -26.0% |
| Current portion of amounts payable after more than one year | 42 | €49,009 | €41,157 | -€7,852 | -16.0% |
| Trade debts | 44 | €1,724 | €0 | -€1,724 | -100% |
| Suppliers | 440/4 | €1,724 | €0 | -€1,724 | -100% |
| Taxes, remuneration and social security | 45 | €5,406 | €0 | -€5,406 | -100% |
| Taxes | 450/3 | €5,406 | €0 | -€5,406 | -100% |
| Other amounts payable | 47/48 | €778 | €940 | +€162 | +20.8% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,006 | €43,100 | +€3,094 | +7.7% |
| Other operating charges | 640/8 | €2,487 | €2,833 | +€345 | +13.9% |
| Gross operating margin | 9900 | €82,310 | €101,153 | +€18,842 | +22.9% |
| Operating profit (loss) | 9901 | €39,817 | €55,219 | +€15,403 | +38.7% |
| Financial income | 75/76B | €198,215 | €22,247 | -€175,968 | -88.8% |
| Recurring financial income | 75 | €198,215 | €22,247 | -€175,968 | -88.8% |
| Financial charges | 65/66B | €9,847 | €15,937 | +€6,090 | +61.8% |
| Recurring financial charges | 65 | €9,847 | €15,937 | +€6,090 | +61.8% |
| Profit (loss) for the period before taxes | 9903 | €228,185 | €61,530 | -€166,656 | -73.0% |
| Income taxes | 67/77 | €30,650 | €19,037 | -€11,613 | -37.9% |
| Profit (loss) for the period | 9904 | €197,535 | €42,492 | -€155,043 | -78.5% |
| Profit (loss) for the period to be appropriated | 9905 | €197,535 | €42,492 | -€155,043 | -78.5% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.