NICE PROJECTS: 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.
NICE PROJECTS
Largest movements
- Stocks and contracts -€368,269
down €368,269 (-46.3%), from €794,964 to €426,695
- Receivables within one year +€65,063
up €65,063 (+47.0%), from €138,472 to €203,535
of which Trade receivables: +€72,098
- Cash +€11,643
up €11,643 (+16.2%), from €71,738 to €83,381
mainly Stocks and contracts (+€368,269) and Tax, wage and social debts (+€27,867)
- Reserves -€168,536
down €168,536 (-81.3%), from €207,243 to €38,707
of which Distributable reserves: -€168,536
- Short-term financial debts -€95,000
down €95,000 (-99.8%), from €95,185 to €185
- Profit (loss) carried forward -€38,107
down €38,107, from €0 to -€38,107
- Tax, wage and social debts +€27,867
up €27,867 (+37.8%), from €73,666 to €101,532
- Trade debts -€14,792
down €14,792 (-5.1%), from €290,557 to €275,765
- Gross operating margin -€112,203
down €112,203 (-162.5%), from -€69,033 to -€181,237
- Financial charges -€30,062
down €30,062 (-95.2%), from €31,574 to €1,513
- Other operating charges +€15,948
up €15,948 (+926.5%), from €1,721 to €17,670
- Depreciation -€12,954
down €12,954 (-67.5%), from €19,179 to €6,225
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,042,965 | €746,030 | -€296,935 | -28.5% |
| Fixed assets | 21/28 | €15,399 | €13,309 | -€2,090 | -13.6% |
| Tangible fixed assets | 22/27 | €12,099 | €10,009 | -€2,090 | -17.3% |
| Plant, machinery and equipment | 23 | €5,527 | €5,077 | -€450 | -8.1% |
| Furniture and vehicles | 24 | €4,890 | €4,932 | +€42 | +0.9% |
| Leasing and similar rights | 25 | €1,682 | €0 | -€1,682 | -100.0% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €1,027,566 | €732,721 | -€294,845 | -28.7% |
| Stocks and contracts in progress | 3 | €794,964 | €426,695 | -€368,269 | -46.3% |
| Contracts in progress | 37 | €794,964 | €426,695 | -€368,269 | -46.3% |
| Amounts receivable within one year | 40/41 | €138,472 | €203,535 | +€65,063 | +47.0% |
| Trade receivables | 40 | €123,546 | €195,645 | +€72,098 | +58.4% |
| Other amounts receivable | 41 | €14,926 | €7,890 | -€7,036 | -47.1% |
| Cash at bank and in hand | 54/58 | €71,738 | €83,381 | +€11,643 | +16.2% |
| Deferred charges and accrued income | 490/1 | €22,392 | €19,110 | -€3,282 | -14.7% |
| Total equity and liabilities | 10/49 | €1,042,965 | €746,030 | -€296,935 | -28.5% |
| Equity | 10/15 | €227,243 | €20,599 | -€206,643 | -90.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €207,243 | €38,707 | -€168,536 | -81.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €36,707 | €36,707 | = | 0.0% |
| Distributable reserves | 133 | €168,536 | €0 | -€168,536 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€38,107 | -€38,107 | |
| Amounts payable | 17/49 | €815,723 | €725,431 | -€90,292 | -11.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €813,852 | €725,361 | -€88,491 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €11,472 | €0 | -€11,472 | -100.0% |
| Financial debts | 43 | €95,185 | €185 | -€95,000 | -99.8% |
| Credit institutions | 430/8 | €95,185 | €185 | -€95,000 | -99.8% |
| Trade debts | 44 | €290,557 | €275,765 | -€14,792 | -5.1% |
| Suppliers | 440/4 | €290,557 | €275,765 | -€14,792 | -5.1% |
| Taxes, remuneration and social security | 45 | €73,666 | €101,532 | +€27,867 | +37.8% |
| Taxes | 450/3 | €73,666 | €101,532 | +€27,867 | +37.8% |
| Other amounts payable | 47/48 | €342,971 | €347,878 | +€4,907 | +1.4% |
| Accrued charges and deferred income | 492/3 | €1,871 | €70 | -€1,801 | -96.2% |
| Non-recurring operating income | 76A | - | €18,131 | +€18,131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,179 | €6,225 | -€12,954 | -67.5% |
| Other operating charges | 640/8 | €1,721 | €17,670 | +€15,948 | +926.5% |
| Gross operating margin | 9900 | -€69,033 | -€181,237 | -€112,203 | -162.5% |
| Operating profit (loss) | 9901 | -€89,934 | -€205,131 | -€115,197 | -128.1% |
| Financial income | 75/76B | €125 | €1 | -€124 | -99.6% |
| Recurring financial income | 75 | €125 | €1 | -€124 | -99.6% |
| Financial charges | 65/66B | €31,574 | €1,513 | -€30,062 | -95.2% |
| Recurring financial charges | 65 | €31,574 | €1,513 | -€30,062 | -95.2% |
| Profit (loss) for the period before taxes | 9903 | -€121,383 | -€206,643 | -€85,260 | -70.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€121,383 | -€206,643 | -€85,260 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€121,383 | -€206,643 | -€85,260 | -70.2% |
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.