NICO: 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.
NICO
Largest movements
- Cash +€25,872
up €25,872 (+87.9%), from €29,434 to €55,306
mainly Net result for the year (+€24,288) and Debts after one year (+€15,316)
- Tangible fixed assets +€23,103
new in 2025: €23,103
- Receivables within one year +€4,073
up €4,073 (+69.5%), from €5,860 to €9,933
of which Trade receivables: +€4,345
- Debts after one year +€15,316
new in 2025: €15,316
- Reserves +€14,986
up €14,986 (+483.6%), from €3,099 to €18,085
- Profit (loss) carried forward +€8,469
no longer reported in 2025 (was -€8,469)
- Current portion of long-term debt +€6,683
new in 2025: €6,683
- Other debts +€3,745
up €3,745 (+63.7%), from €5,880 to €9,624
- Turnover +€65,558
new in 2025: €65,558
- Gross operating margin +€42,358
up €42,358 (+1227.6%), from €3,451 to €45,809
- Purchases and services +€30,717
new in 2025: €30,717
- Taxes +€10,725
up €10,725 (+916.6%), from €1,170 to €11,895
- Depreciation +€6,330
new in 2025: €6,330
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 | €35,332 | €88,395 | +€53,063 | +150.2% |
| Fixed assets | 21/28 | - | €23,103 | +€23,103 | |
| Tangible fixed assets | 22/27 | - | €23,103 | +€23,103 | |
| Furniture and vehicles | 24 | - | €23,103 | +€23,103 | |
| Current assets | 29/58 | €35,332 | €65,292 | +€29,960 | +84.8% |
| Stocks and contracts in progress | 3 | €38 | €53 | +€15 | +39.0% |
| Stocks | 30/36 | €38 | €53 | +€15 | +39.0% |
| Amounts receivable within one year | 40/41 | €5,860 | €9,933 | +€4,073 | +69.5% |
| Trade receivables | 40 | €2,030 | €6,375 | +€4,345 | +214.1% |
| Other amounts receivable | 41 | €3,830 | €3,558 | -€272 | -7.1% |
| Cash at bank and in hand | 54/58 | €29,434 | €55,306 | +€25,872 | +87.9% |
| Total equity and liabilities | 10/49 | €35,332 | €88,395 | +€53,063 | +150.2% |
| Equity | 10/15 | €25,616 | €49,071 | +€23,455 | +91.6% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €3,099 | €18,085 | +€14,986 | +483.6% |
| Distributable reserves | 133 | €3,099 | €18,085 | +€14,986 | +483.6% |
| Profit (loss) carried forward | 14 | -€8,469 | - | +€8,469 | |
| Amounts payable | 17/49 | €9,716 | €39,324 | +€29,608 | +304.7% |
| Amounts payable after more than one year | 17 | - | €15,316 | +€15,316 | |
| Financial debts | 170/4 | - | €15,316 | +€15,316 | |
| Amounts payable within one year | 42/48 | €9,186 | €23,478 | +€14,291 | +155.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,683 | +€6,683 | |
| Trade debts | 44 | €2,936 | €3,262 | +€326 | +11.1% |
| Suppliers | 440/4 | €2,936 | €3,262 | +€326 | +11.1% |
| Taxes, remuneration and social security | 45 | €370 | €3,908 | +€3,538 | +955.2% |
| Taxes | 450/3 | €370 | €3,908 | +€3,538 | +955.2% |
| Other amounts payable | 47/48 | €5,880 | €9,624 | +€3,745 | +63.7% |
| Accrued charges and deferred income | 492/3 | €530 | €530 | = | 0.0% |
| Turnover | 70 | - | €65,558 | +€65,558 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €30,717 | +€30,717 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €6,330 | +€6,330 | |
| Other operating charges | 640/8 | €795 | €2,384 | +€1,590 | +200.1% |
| Gross operating margin | 9900 | €3,451 | €45,809 | +€42,358 | +1227.6% |
| Operating profit (loss) | 9901 | €2,656 | €37,094 | +€34,438 | +1296.6% |
| Financial charges | 65/66B | €764 | €911 | +€147 | +19.3% |
| Recurring financial charges | 65 | €764 | €911 | +€147 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €1,892 | €36,183 | +€34,291 | +1812.4% |
| Income taxes | 67/77 | €1,170 | €11,895 | +€10,725 | +916.6% |
| Profit (loss) for the period | 9904 | €722 | €24,288 | +€23,566 | +3264.4% |
| Profit (loss) for the period to be appropriated | 9905 | €722 | €24,288 | +€23,566 | +3264.4% |
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 7 October 2026 via checked.be.