NICLAES: 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.
NICLAES
Largest movements
- Receivables within one year +€231,194
up €231,194 (+15.5%), from €1.5m to €1.7m
of which Other amounts receivable: +€118,724
- Stocks and contracts +€166,844
up €166,844 (+70.0%), from €238,283 to €405,127
- Cash -€146,856
down €146,856 (-29.2%), from €503,295 to €356,439
mainly Receivables within one year (-€231,194) and Stocks and contracts (-€166,844)
- Tangible fixed assets -€112,320
down €112,320 (-7.4%), from €1.5m to €1.4m
of which Land and buildings: -€98,742
- Trade debts +€188,226
up €188,226 (+22.3%), from €843,429 to €1.0m
- Reserves +€130,709
up €130,709 (+14.4%), from €908,955 to €1.0m
of which Tax-exempt reserves: +€67,360
- Debts after one year -€108,387
down €108,387 (-9.4%), from €1.2m to €1.0m
- Tax, wage and social debts -€54,918
down €54,918 (-96.3%), from €57,029 to €2,111
of which Taxes: -€29,326
- Gross operating margin +€107,097
up €107,097 (+17.5%), from €611,040 to €718,136
- Staff costs +€60,702
up €60,702 (+27.9%), from €217,951 to €278,653
- Financial charges +€18,366
up €18,366 (+35.8%), from €51,312 to €69,678
- Depreciation +€15,992
up €15,992 (+12.1%), from €132,530 to €148,522
- Other operating charges +€8,501
up €8,501 (+25.0%), from €33,962 to €42,463
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 | €3,744,924 | €3,883,786 | +€138,862 | +3.7% |
| Fixed assets | 21/28 | €1,511,523 | €1,399,203 | -€112,320 | -7.4% |
| Tangible fixed assets | 22/27 | €1,511,523 | €1,399,203 | -€112,320 | -7.4% |
| Land and buildings | 22 | €1,352,186 | €1,253,444 | -€98,742 | -7.3% |
| Plant, machinery and equipment | 23 | €116,813 | €98,869 | -€17,945 | -15.4% |
| Furniture and vehicles | 24 | €9,363 | €24,130 | +€14,767 | +157.7% |
| Leasing and similar rights | 25 | €33,161 | €22,761 | -€10,400 | -31.4% |
| Current assets | 29/58 | €2,233,401 | €2,484,583 | +€251,182 | +11.2% |
| Stocks and contracts in progress | 3 | €238,283 | €405,127 | +€166,844 | +70.0% |
| Stocks | 30/36 | €238,283 | €405,127 | +€166,844 | +70.0% |
| Amounts receivable within one year | 40/41 | €1,491,823 | €1,723,017 | +€231,194 | +15.5% |
| Trade receivables | 40 | €1,361,395 | €1,473,864 | +€112,469 | +8.3% |
| Other amounts receivable | 41 | €130,429 | €249,153 | +€118,724 | +91.0% |
| Cash at bank and in hand | 54/58 | €503,295 | €356,439 | -€146,856 | -29.2% |
| Total equity and liabilities | 10/49 | €3,744,924 | €3,883,786 | +€138,862 | +3.7% |
| Equity | 10/15 | €926,642 | €1,057,351 | +€130,709 | +14.1% |
| Contributions | 10/11 | €17,600 | €17,600 | = | 0.0% |
| Reserves | 13 | €908,955 | €1,039,664 | +€130,709 | +14.4% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,680 | €101,040 | +€67,360 | +200.0% |
| Distributable reserves | 133 | €872,275 | €935,624 | +€63,349 | +7.3% |
| Profit (loss) carried forward | 14 | €87 | €87 | = | 0.0% |
| Amounts payable | 17/49 | €2,818,283 | €2,826,435 | +€8,152 | +0.3% |
| Amounts payable after more than one year | 17 | €1,150,387 | €1,042,000 | -€108,387 | -9.4% |
| Financial debts | 170/4 | €1,150,387 | €1,042,000 | -€108,387 | -9.4% |
| Amounts payable within one year | 42/48 | €1,667,896 | €1,784,435 | +€116,539 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €114,243 | €113,474 | -€769 | -0.7% |
| Financial debts | 43 | €625,000 | €625,000 | = | 0.0% |
| Credit institutions | 430/8 | €625,000 | €625,000 | = | 0.0% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €843,429 | €1,031,655 | +€188,226 | +22.3% |
| Suppliers | 440/4 | €843,429 | €1,031,655 | +€188,226 | +22.3% |
| Taxes, remuneration and social security | 45 | €57,029 | €2,111 | -€54,918 | -96.3% |
| Taxes | 450/3 | €31,437 | €2,111 | -€29,326 | -93.3% |
| Remuneration and social security | 454/9 | €25,592 | €0 | -€25,592 | -100.0% |
| Other amounts payable | 47/48 | €28,195 | €12,195 | -€16,000 | -56.7% |
| Remuneration, social security and pensions | 62 | €217,951 | €278,653 | +€60,702 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,530 | €148,522 | +€15,992 | +12.1% |
| Other operating charges | 640/8 | €33,962 | €42,463 | +€8,501 | +25.0% |
| Gross operating margin | 9900 | €611,040 | €718,136 | +€107,097 | +17.5% |
| Operating profit (loss) | 9901 | €226,597 | €248,499 | +€21,902 | +9.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €51,312 | €69,678 | +€18,366 | +35.8% |
| Recurring financial charges | 65 | €51,312 | €69,678 | +€18,366 | +35.8% |
| Profit (loss) for the period before taxes | 9903 | €175,285 | €178,821 | +€3,536 | +2.0% |
| Income taxes | 67/77 | €54,437 | €48,111 | -€6,326 | -11.6% |
| Profit (loss) for the period | 9904 | €120,847 | €130,709 | +€9,862 | +8.2% |
| Transfer to tax-exempt reserves | 689 | €33,680 | €67,360 | +€33,680 | +100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €87,167 | €63,349 | -€23,818 | -27.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.