NICELI: 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.
NICELI
Largest movements
- Tangible fixed assets -€113,155
down €113,155 (-9.3%), from €1.2m to €1.1m
of which Land and buildings: -€112,279
- Debts after one year -€109,533
down €109,533 (-32.1%), from €341,717 to €232,184
- Reserves -€56,622
down €56,622 (-5.6%), from €1.0m to €956,327
of which Distributable reserves: -€56,622
- Other debts +€25,914
up €25,914 (+19.5%), from €133,020 to €158,933
- Accrued charges and deferred income +€17,500
new in 2025: €17,500
- Gross operating margin +€6,696
up €6,696 (+3.5%), from €190,171 to €196,867
- Financial charges -€3,526
down €3,526 (-22.7%), from €15,512 to €11,986
- Depreciation -€2,338
down €2,338 (-2.0%), from €115,493 to €113,155
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 | €1,673,662 | €1,560,953 | -€112,709 | -6.7% |
| Fixed assets | 21/28 | €1,569,968 | €1,456,812 | -€113,155 | -7.2% |
| Tangible fixed assets | 22/27 | €1,221,968 | €1,108,812 | -€113,155 | -9.3% |
| Land and buildings | 22 | €1,213,176 | €1,100,898 | -€112,279 | -9.3% |
| Plant, machinery and equipment | 23 | €254 | €82 | -€172 | -67.6% |
| Furniture and vehicles | 24 | €2,116 | €1,411 | -€704 | -33.3% |
| Other tangible fixed assets | 26 | €6,421 | €6,421 | = | 0.0% |
| Financial fixed assets | 28 | €348,000 | €348,000 | = | 0.0% |
| Current assets | 29/58 | €103,694 | €104,140 | +€446 | +0.4% |
| Amounts receivable within one year | 40/41 | €9,517 | €9,605 | +€88 | +0.9% |
| Other amounts receivable | 41 | €9,517 | €9,605 | +€88 | +0.9% |
| Cash at bank and in hand | 54/58 | €88,335 | €94,535 | +€6,200 | +7.0% |
| Deferred charges and accrued income | 490/1 | €5,843 | - | -€5,843 | |
| Total equity and liabilities | 10/49 | €1,673,662 | €1,560,953 | -€112,709 | -6.7% |
| Equity | 10/15 | €1,092,752 | €1,036,129 | -€56,622 | -5.2% |
| Contributions | 10/11 | €79,802 | €79,802 | = | 0.0% |
| Reserves | 13 | €1,012,949 | €956,327 | -€56,622 | -5.6% |
| Tax-exempt reserves | 132 | €240,372 | €240,372 | = | 0.0% |
| Distributable reserves | 133 | €772,577 | €715,955 | -€56,622 | -7.3% |
| Amounts payable | 17/49 | €580,910 | €524,823 | -€56,087 | -9.7% |
| Amounts payable after more than one year | 17 | €341,717 | €232,184 | -€109,533 | -32.1% |
| Financial debts | 170/4 | €341,717 | €232,184 | -€109,533 | -32.1% |
| Amounts payable within one year | 42/48 | €239,193 | €275,140 | +€35,946 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €105,829 | €109,533 | +€3,704 | +3.5% |
| Trade debts | 44 | €345 | €500 | +€155 | +44.9% |
| Suppliers | 440/4 | €345 | €500 | +€155 | +44.9% |
| Taxes, remuneration and social security | 45 | - | €6,174 | +€6,174 | |
| Taxes | 450/3 | - | €6,174 | +€6,174 | |
| Other amounts payable | 47/48 | €133,020 | €158,933 | +€25,914 | +19.5% |
| Accrued charges and deferred income | 492/3 | - | €17,500 | +€17,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,493 | €113,155 | -€2,338 | -2.0% |
| Other operating charges | 640/8 | €4,872 | €5,171 | +€298 | +6.1% |
| Gross operating margin | 9900 | €190,171 | €196,867 | +€6,696 | +3.5% |
| Operating profit (loss) | 9901 | €69,806 | €78,541 | +€8,735 | +12.5% |
| Financial income | 75/76B | - | €295 | +€295 | |
| Recurring financial income | 75 | - | €295 | +€295 | |
| Financial charges | 65/66B | €15,512 | €11,986 | -€3,526 | -22.7% |
| Recurring financial charges | 65 | €15,512 | €11,986 | -€3,526 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €54,294 | €66,850 | +€12,556 | +23.1% |
| Profit (loss) for the period | 9904 | €54,294 | €66,850 | +€12,556 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €54,294 | €66,850 | +€12,556 | +23.1% |
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 15 October 2026 via checked.be.