NICK FAES: 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.
NICK FAES
Largest movements
- Cash +€19,482
up €19,482 (+225484.4%), from €9 to €19,490
mainly Net result for the year (+€43,238) and Receivables within one year (+€18,049)
- Receivables within one year -€18,049
down €18,049 (-5.6%), from €321,130 to €303,082
of which Other amounts receivable: -€40,758
- Profit (loss) carried forward +€55,690
up €55,690 (+96.1%), from -€57,978 to -€2,288
- Trade debts -€24,109
down €24,109 (-88.3%), from €27,308 to €3,199
- Reserves -€12,452
down €12,452 (-4.5%), from €275,152 to €262,700
of which Distributable reserves: -€12,105
- Short-term financial debts -€8,783
down €8,783 (-14.5%), from €60,631 to €51,848
- Other debts -€5,180
down €5,180 (-34.1%), from €15,180 to €10,000
- Gross operating margin +€113,498
up €113,498, from -€47,041 to €66,458
- Financial charges +€15,102
up €15,102 (+250.2%), from €6,037 to €21,139
- Staff costs -€12,231
no longer reported in 2025 (was €12,231)
- Taxes +€3,974
up €3,974 (+569.2%), from €698 to €4,673
- Financial income -€3,835
down €3,835 (-31.8%), from €12,074 to €8,239
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 | €332,200 | €335,452 | +€3,252 | +1.0% |
| Fixed assets | 21/28 | €10,410 | €11,456 | +€1,046 | +10.0% |
| Tangible fixed assets | 22/27 | €6,410 | €7,456 | +€1,046 | +16.3% |
| Plant, machinery and equipment | 23 | €1,590 | €1,164 | -€426 | -26.8% |
| Furniture and vehicles | 24 | €3,275 | €5,147 | +€1,872 | +57.2% |
| Other tangible fixed assets | 26 | €1,545 | €1,145 | -€400 | -25.9% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €321,791 | €323,997 | +€2,206 | +0.7% |
| Amounts receivable within one year | 40/41 | €321,130 | €303,082 | -€18,049 | -5.6% |
| Trade receivables | 40 | €46,195 | €68,904 | +€22,709 | +49.2% |
| Other amounts receivable | 41 | €274,935 | €234,178 | -€40,758 | -14.8% |
| Cash at bank and in hand | 54/58 | €9 | €19,490 | +€19,482 | +225484.4% |
| Deferred charges and accrued income | 490/1 | €652 | €1,424 | +€773 | +118.5% |
| Total equity and liabilities | 10/49 | €332,200 | €335,452 | +€3,252 | +1.0% |
| Equity | 10/15 | €223,373 | €266,612 | +€43,238 | +19.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €275,152 | €262,700 | -€12,452 | -4.5% |
| Tax-exempt reserves | 132 | €346 | - | -€346 | |
| Distributable reserves | 133 | €274,805 | €262,700 | -€12,105 | -4.4% |
| Profit (loss) carried forward | 14 | -€57,978 | -€2,288 | +€55,690 | +96.1% |
| Amounts payable | 17/49 | €108,827 | €68,841 | -€39,986 | -36.7% |
| Amounts payable within one year | 42/48 | €108,827 | €68,841 | -€39,986 | -36.7% |
| Financial debts | 43 | €60,631 | €51,848 | -€8,783 | -14.5% |
| Credit institutions | 430/8 | €60,631 | €51,848 | -€8,783 | -14.5% |
| Trade debts | 44 | €27,308 | €3,199 | -€24,109 | -88.3% |
| Suppliers | 440/4 | €27,308 | €3,199 | -€24,109 | -88.3% |
| Taxes, remuneration and social security | 45 | €5,708 | €3,793 | -€1,914 | -33.5% |
| Taxes | 450/3 | €5,708 | €3,793 | -€1,914 | -33.5% |
| Other amounts payable | 47/48 | €15,180 | €10,000 | -€5,180 | -34.1% |
| Remuneration, social security and pensions | 62 | €12,231 | - | -€12,231 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,800 | €2,075 | +€275 | +15.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,380 | +€1,380 | |
| Other operating charges | 640/8 | €3,116 | €2,192 | -€925 | -29.7% |
| Gross operating margin | 9900 | -€47,041 | €66,458 | +€113,498 | |
| Operating profit (loss) | 9901 | -€64,188 | €60,811 | +€124,999 | |
| Financial income | 75/76B | €12,074 | €8,239 | -€3,835 | -31.8% |
| Recurring financial income | 75 | €12,074 | €8,239 | -€3,835 | -31.8% |
| Financial charges | 65/66B | €6,037 | €21,139 | +€15,102 | +250.2% |
| Recurring financial charges | 65 | €6,037 | €21,139 | +€15,102 | +250.2% |
| Profit (loss) for the period before taxes | 9903 | -€58,151 | €47,911 | +€106,062 | |
| Income taxes | 67/77 | €698 | €4,673 | +€3,974 | +569.2% |
| Profit (loss) for the period | 9904 | -€58,849 | €43,238 | +€102,087 | |
| Transfer from tax-exempt reserves | 789 | - | €346 | +€346 | |
| Profit (loss) for the period to be appropriated | 9905 | -€58,849 | €43,585 | +€102,434 |
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 11 October 2026 via checked.be.