NICKEL GRAPHIC STUDIO: 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.
NICKEL GRAPHIC STUDIO
Largest movements
- Cash -€22,328
down €22,328 (-9.7%), from €229,034 to €206,706
mainly Contributions, distributions and other (-€156,129) and Current portion of long-term debt (-€66,207)
- Tangible fixed assets -€21,205
down €21,205 (-11.7%), from €180,753 to €159,548
of which Plant, machinery and equipment: -€24,035
- Deferred charges and accrued income +€16,126
up €16,126 (+223%), from €7,245 to €23,372
- Receivables within one year +€10,952
up €10,952 (+2.0%), from €534,797 to €545,749
of which Trade receivables: +€19,677
- Current portion of long-term debt -€66,207
down €66,207 (-72.2%), from €91,728 to €25,520
- Tax, wage and social debts +€61,459
up €61,459 (+116%), from €53,033 to €114,492
of which Taxes: +€48,132
- Reserves +€50,296
up €50,296 (+11.4%), from €441,227 to €491,523
of which Distributable reserves: +€50,296
- Trade debts -€42,716
down €42,716 (-17.3%), from €246,850 to €204,134
- Debts after one year -€25,520
down €25,520 (-45.3%), from €56,284 to €30,764
- Gross operating margin +€257,776
up €257,776 (+52.6%), from €489,926 to €747,702
- Staff costs +€87,884
up €87,884 (+30.4%), from €288,789 to €376,673
- Taxes +€59,674
up €59,674 (+154%), from €38,690 to €98,364
- Financial income +€8,934
up €8,934 (+1,158%), from €771 to €9,706
of which Non-recurring financial income: +€9,369
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 | €951,853 | €935,399 | -€16,454 | -1.7% |
| Fixed assets | 21/28 | €180,778 | €159,573 | -€21,205 | -11.7% |
| Tangible fixed assets | 22/27 | €180,753 | €159,548 | -€21,205 | -11.7% |
| Plant, machinery and equipment | 23 | €158,186 | €134,151 | -€24,035 | -15.2% |
| Furniture and vehicles | 24 | €22,567 | €21,114 | -€1,452 | -6.4% |
| Leasing and similar rights | 25 | - | €4,282 | +€4,282 | |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €771,076 | €775,826 | +€4,751 | +0.6% |
| Amounts receivable within one year | 40/41 | €534,797 | €545,749 | +€10,952 | +2.0% |
| Trade receivables | 40 | €389,781 | €409,457 | +€19,677 | +5.0% |
| Other amounts receivable | 41 | €145,016 | €136,292 | -€8,724 | -6.0% |
| Cash at bank and in hand | 54/58 | €229,034 | €206,706 | -€22,328 | -9.7% |
| Deferred charges and accrued income | 490/1 | €7,245 | €23,372 | +€16,126 | +223% |
| Total equity and liabilities | 10/49 | €951,853 | €935,399 | -€16,454 | -1.7% |
| Equity | 10/15 | €503,227 | €553,523 | +€50,296 | +10.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €441,227 | €491,523 | +€50,296 | +11.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €435,027 | €485,323 | +€50,296 | +11.6% |
| Amounts payable | 17/49 | €448,626 | €381,876 | -€66,750 | -14.9% |
| Amounts payable after more than one year | 17 | €56,284 | €30,764 | -€25,520 | -45.3% |
| Financial debts | 170/4 | €56,284 | €30,764 | -€25,520 | -45.3% |
| Amounts payable within one year | 42/48 | €391,611 | €350,448 | -€41,163 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €91,728 | €25,520 | -€66,207 | -72.2% |
| Trade debts | 44 | €246,850 | €204,134 | -€42,716 | -17.3% |
| Suppliers | 440/4 | €246,850 | €204,134 | -€42,716 | -17.3% |
| Taxes, remuneration and social security | 45 | €53,033 | €114,492 | +€61,459 | +116% |
| Taxes | 450/3 | €17,063 | €65,196 | +€48,132 | +282% |
| Remuneration and social security | 454/9 | €35,970 | €49,297 | +€13,327 | +37.1% |
| Other amounts payable | 47/48 | - | €6,301 | +€6,301 | |
| Accrued charges and deferred income | 492/3 | €731 | €664 | -€66 | -9.1% |
| Remuneration, social security and pensions | 62 | €288,789 | €376,673 | +€87,884 | +30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,824 | €64,108 | -€5,716 | -8.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €730 | - | -€730 | |
| Other operating charges | 640/8 | €3,511 | €6,530 | +€3,019 | +86.0% |
| Gross operating margin | 9900 | €489,926 | €747,702 | +€257,776 | +52.6% |
| Operating profit (loss) | 9901 | €127,073 | €300,391 | +€173,318 | +136% |
| Financial income | 75/76B | €771 | €9,706 | +€8,934 | +1,158% |
| Recurring financial income | 75 | €771 | €337 | -€435 | -56.4% |
| Non-recurring financial income | 76B | - | €9,369 | +€9,369 | |
| Financial charges | 65/66B | €4,216 | €5,307 | +€1,091 | +25.9% |
| Recurring financial charges | 65 | €4,216 | €5,045 | +€828 | +19.6% |
| Non-recurring financial charges | 66B | - | €263 | +€263 | |
| Profit (loss) for the period before taxes | 9903 | €123,628 | €304,790 | +€181,161 | +147% |
| Income taxes | 67/77 | €38,690 | €98,364 | +€59,674 | +154% |
| Profit (loss) for the period | 9904 | €84,938 | €206,425 | +€121,487 | +143% |
| Profit (loss) for the period to be appropriated | 9905 | €84,938 | €206,425 | +€121,487 | +143% |
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 13 October 2026 via checked.be.