NICK'S: what changed
Two fiscal 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'S
Largest movements
- Cash -€350,129
down €350,129 (-85.1%), from €411,234 to €61,106
mainly Investment in fixed assets (net) (-€405,594) and Other debts (-€167,434)
- Tangible fixed assets +€233,098
up €233,098 (+41.1%), from €566,511 to €799,609
of which Land and buildings: +€156,223
- Receivables after one year +€133,105
new in 2025: €133,105
- Receivables within one year +€123,448
up €123,448 (+256.7%), from €48,088 to €171,536
of which Other amounts receivable: +€157,349
- Intangible fixed assets +€91,589
new in 2025: €91,589
- Reserves +€351,045
up €351,045 (+54.0%), from €650,607 to €1.0m
of which Distributable reserves: +€352,905
- Other debts -€167,434
down €167,434 (-40.1%), from €417,232 to €249,798
- Debts after one year +€101,839
new in 2025: €101,839
- Gross operating margin -€172,870
down €172,870 (-86.8%), from €199,114 to €26,244
- Financial income +€47,216
up €47,216 (+11.8%), from €400,000 to €447,216
- Other operating charges +€42,853
up €42,853 (+4171.0%), from €1,027 to €43,880
- Depreciation +€25,350
up €25,350 (+185.0%), from €13,706 to €39,056
- Taxes -€10,771
down €10,771 (-23.5%), from €45,875 to €35,104
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 | €2,582,864 | €2,856,660 | +€273,796 | +10.6% |
| Fixed assets | 21/28 | €2,123,542 | €2,490,080 | +€366,537 | +17.3% |
| Intangible fixed assets | 21 | - | €91,589 | +€91,589 | |
| Tangible fixed assets | 22/27 | €566,511 | €799,609 | +€233,098 | +41.1% |
| Land and buildings | 22 | €496,082 | €652,305 | +€156,223 | +31.5% |
| Plant, machinery and equipment | 23 | €1,053 | €772 | -€281 | -26.7% |
| Furniture and vehicles | 24 | €2,269 | €31,811 | +€29,543 | +1302.2% |
| Other tangible fixed assets | 26 | €67,108 | €114,721 | +€47,613 | +71.0% |
| Financial fixed assets | 28 | €1,557,031 | €1,598,881 | +€41,850 | +2.7% |
| Current assets | 29/58 | €459,322 | €366,580 | -€92,742 | -20.2% |
| Amounts receivable after more than one year | 29 | - | €133,105 | +€133,105 | |
| Other amounts receivable | 291 | - | €133,105 | +€133,105 | |
| Amounts receivable within one year | 40/41 | €48,088 | €171,536 | +€123,448 | +256.7% |
| Trade receivables | 40 | €44,004 | €10,103 | -€33,901 | -77.0% |
| Other amounts receivable | 41 | €4,083 | €161,433 | +€157,349 | +3853.5% |
| Cash at bank and in hand | 54/58 | €411,234 | €61,106 | -€350,129 | -85.1% |
| Deferred charges and accrued income | 490/1 | - | €834 | +€834 | |
| Total equity and liabilities | 10/49 | €2,582,864 | €2,856,660 | +€273,796 | +10.6% |
| Equity | 10/15 | €2,106,764 | €2,457,809 | +€351,045 | +16.7% |
| Contributions | 10/11 | €1,456,157 | €1,456,157 | = | 0.0% |
| Reserves | 13 | €650,607 | €1,001,652 | +€351,045 | +54.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €648,747 | €1,001,652 | +€352,905 | +54.4% |
| Amounts payable | 17/49 | €476,099 | €398,850 | -€77,249 | -16.2% |
| Amounts payable after more than one year | 17 | - | €101,839 | +€101,839 | |
| Financial debts | 170/4 | - | €101,839 | +€101,839 | |
| Amounts payable within one year | 42/48 | €468,899 | €297,012 | -€171,888 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | - | €5,885 | +€5,885 | |
| Trade debts | 44 | €34,290 | €13,431 | -€20,859 | -60.8% |
| Suppliers | 440/4 | €34,290 | €13,431 | -€20,859 | -60.8% |
| Taxes, remuneration and social security | 45 | €17,378 | €27,898 | +€10,520 | +60.5% |
| Taxes | 450/3 | €15,628 | €27,898 | +€12,270 | +78.5% |
| Remuneration and social security | 454/9 | €1,750 | - | -€1,750 | |
| Other amounts payable | 47/48 | €417,232 | €249,798 | -€167,434 | -40.1% |
| Accrued charges and deferred income | 492/3 | €7,200 | - | -€7,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,706 | €39,056 | +€25,350 | +185.0% |
| Other operating charges | 640/8 | €1,027 | €43,880 | +€42,853 | +4171.0% |
| Gross operating margin | 9900 | €199,114 | €26,244 | -€172,870 | -86.8% |
| Operating profit (loss) | 9901 | €184,380 | -€56,692 | -€241,073 | |
| Financial income | 75/76B | €400,000 | €447,216 | +€47,216 | +11.8% |
| Recurring financial income | 75 | €400,000 | €447,216 | +€47,216 | +11.8% |
| Financial charges | 65/66B | €842 | €4,375 | +€3,533 | +419.6% |
| Recurring financial charges | 65 | €842 | €4,375 | +€3,533 | +419.6% |
| Profit (loss) for the period before taxes | 9903 | €583,538 | €386,149 | -€197,390 | -33.8% |
| Income taxes | 67/77 | €45,875 | €35,104 | -€10,771 | -23.5% |
| Profit (loss) for the period | 9904 | €537,664 | €351,045 | -€186,619 | -34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €537,664 | €351,045 | -€186,619 | -34.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.