NICKS: 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.
NICKS
Largest movements
- Receivables within one year +€357,912
up €357,912 (+193.4%), from €185,078 to €542,990
of which Trade receivables: +€265,478
- Tangible fixed assets -€102,120
down €102,120 (-10.0%), from €1.0m to €921,017
of which Leasing and similar rights: -€58,185
- Current investments +€15,933
up €15,933 (+62.3%), from €25,589 to €41,522
- Advances received +€139,748
new in 2025: €139,748
- Other debts +€100,000
up €100,000 (+83.3%), from €120,000 to €220,000
- Trade debts +€77,626
up €77,626 (+236.6%), from €32,805 to €110,432
- Debts after one year -€76,413
down €76,413 (-15.3%), from €499,279 to €422,866
- Reserves +€34,132
up €34,132 (+7.7%), from €446,035 to €480,166
of which Distributable reserves: +€34,132
- Gross operating margin +€55,630
up €55,630 (+15.3%), from €362,879 to €418,509
- Depreciation +€32,944
up €32,944 (+98.4%), from €33,471 to €66,416
- Other operating charges -€5,800
down €5,800 (-85.1%), from €6,816 to €1,016
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 | €1,321,615 | €1,578,139 | +€256,524 | +19.4% |
| Fixed assets | 21/28 | €1,023,288 | €921,167 | -€102,120 | -10.0% |
| Tangible fixed assets | 22/27 | €1,023,138 | €921,017 | -€102,120 | -10.0% |
| Plant, machinery and equipment | 23 | €1,500 | €598 | -€902 | -60.1% |
| Furniture and vehicles | 24 | €98,068 | €55,034 | -€43,033 | -43.9% |
| Leasing and similar rights | 25 | €923,570 | €865,385 | -€58,185 | -6.3% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €298,328 | €656,972 | +€358,644 | +120.2% |
| Stocks and contracts in progress | 3 | €22,328 | €22,328 | = | 0.0% |
| Stocks | 30/36 | €22,328 | €22,328 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €185,078 | €542,990 | +€357,912 | +193.4% |
| Trade receivables | 40 | €27,977 | €293,455 | +€265,478 | +948.9% |
| Other amounts receivable | 41 | €157,101 | €249,535 | +€92,435 | +58.8% |
| Current investments | 50/53 | €25,589 | €41,522 | +€15,933 | +62.3% |
| Cash at bank and in hand | 54/58 | €52,452 | €43,209 | -€9,243 | -17.6% |
| Deferred charges and accrued income | 490/1 | €12,880 | €6,923 | -€5,958 | -46.3% |
| Total equity and liabilities | 10/49 | €1,321,615 | €1,578,139 | +€256,524 | +19.4% |
| Equity | 10/15 | €464,635 | €498,766 | +€34,132 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €446,035 | €480,166 | +€34,132 | +7.7% |
| Tax-exempt reserves | 132 | €6,128 | €6,128 | = | 0.0% |
| Distributable reserves | 133 | €439,907 | €474,039 | +€34,132 | +7.8% |
| Amounts payable | 17/49 | €856,981 | €1,079,373 | +€222,392 | +26.0% |
| Amounts payable after more than one year | 17 | €499,279 | €422,866 | -€76,413 | -15.3% |
| Financial debts | 170/4 | €499,279 | €422,866 | -€76,413 | -15.3% |
| Amounts payable within one year | 42/48 | €355,702 | €653,756 | +€298,055 | +83.8% |
| Current portion of amounts payable after more than one year | 42 | €75,904 | €76,413 | +€509 | +0.7% |
| Financial debts | 43 | €50,000 | €39,075 | -€10,925 | -21.8% |
| Credit institutions | 430/8 | €50,000 | €39,075 | -€10,925 | -21.8% |
| Trade debts | 44 | €32,805 | €110,432 | +€77,626 | +236.6% |
| Suppliers | 440/4 | €32,805 | €110,432 | +€77,626 | +236.6% |
| Advances received on contracts in progress | 46 | - | €139,748 | +€139,748 | |
| Taxes, remuneration and social security | 45 | €76,992 | €68,088 | -€8,904 | -11.6% |
| Taxes | 450/3 | €76,992 | €68,088 | -€8,904 | -11.6% |
| Other amounts payable | 47/48 | €120,000 | €220,000 | +€100,000 | +83.3% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,750 | +€750 | +37.5% |
| Non-recurring operating income | 76A | - | €733 | +€733 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,471 | €66,416 | +€32,944 | +98.4% |
| Other operating charges | 640/8 | €6,816 | €1,016 | -€5,800 | -85.1% |
| Non-recurring operating charges | 66A | - | €7,335 | +€7,335 | |
| Gross operating margin | 9900 | €362,879 | €418,509 | +€55,630 | +15.3% |
| Operating profit (loss) | 9901 | €322,592 | €343,742 | +€21,150 | +6.6% |
| Financial income | 75/76B | €14,088 | €10,309 | -€3,779 | -26.8% |
| Recurring financial income | 75 | €14,088 | €10,309 | -€3,779 | -26.8% |
| Financial charges | 65/66B | €3,338 | €1,875 | -€1,462 | -43.8% |
| Recurring financial charges | 65 | €3,338 | €1,875 | -€1,462 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €333,342 | €352,176 | +€18,833 | +5.6% |
| Income taxes | 67/77 | €96,314 | €98,044 | +€1,730 | +1.8% |
| Profit (loss) for the period | 9904 | €237,028 | €254,132 | +€17,104 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €237,028 | €254,132 | +€17,104 | +7.2% |
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 10 October 2026 via checked.be.