NICODY CONSULT: 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.
NICODY CONSULT
Largest movements
- Receivables within one year -€10,304
down €10,304 (-40.7%), from €25,326 to €15,021
of which Trade receivables: -€7,046
- Tangible fixed assets -€4,984
down €4,984 (-26.3%), from €18,927 to €13,943
of which Other tangible fixed assets: -€4,413
- Deferred charges and accrued income -€2,328
down €2,328 (-27.9%), from €8,356 to €6,029
- Other debts -€7,221
down €7,221 (-32.5%), from €22,195 to €14,974
- Reserves -€6,679
down €6,679 (-19.3%), from €34,682 to €28,002
of which Distributable reserves: -€6,679
- Trade debts -€4,104
down €4,104 (-73.0%), from €5,620 to €1,516
- Depreciation -€13,072
down €13,072 (-62.5%), from €20,914 to €7,842
- Gross operating margin -€10,436
down €10,436 (-44.5%), from €23,460 to €13,025
- Other operating charges +€1,163
new in 2025: €1,163
- Staff costs +€736
up €736 (+30.0%), from €2,453 to €3,189
- Financial income -€511
down €511 (-26.8%), from €1,908 to €1,397
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 | €175,089 | €156,556 | -€18,533 | -10.6% |
| Fixed assets | 21/28 | €18,927 | €13,943 | -€4,984 | -26.3% |
| Tangible fixed assets | 22/27 | €18,927 | €13,943 | -€4,984 | -26.3% |
| Furniture and vehicles | 24 | €6,360 | €5,789 | -€571 | -9.0% |
| Other tangible fixed assets | 26 | €12,567 | €8,154 | -€4,413 | -35.1% |
| Current assets | 29/58 | €156,162 | €142,613 | -€13,549 | -8.7% |
| Amounts receivable within one year | 40/41 | €25,326 | €15,021 | -€10,304 | -40.7% |
| Trade receivables | 40 | €19,150 | €12,105 | -€7,046 | -36.8% |
| Other amounts receivable | 41 | €6,175 | €2,917 | -€3,259 | -52.8% |
| Cash at bank and in hand | 54/58 | €122,480 | €121,564 | -€917 | -0.7% |
| Deferred charges and accrued income | 490/1 | €8,356 | €6,029 | -€2,328 | -27.9% |
| Total equity and liabilities | 10/49 | €175,089 | €156,556 | -€18,533 | -10.6% |
| Equity | 10/15 | €140,140 | €134,056 | -€6,084 | -4.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €34,682 | €28,002 | -€6,679 | -19.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,822 | €26,142 | -€6,679 | -20.3% |
| Profit (loss) carried forward | 14 | €99,258 | €99,853 | +€595 | +0.6% |
| Amounts payable | 17/49 | €34,950 | €22,501 | -€12,449 | -35.6% |
| Amounts payable within one year | 42/48 | €34,950 | €22,320 | -€12,630 | -36.1% |
| Current portion of amounts payable after more than one year | 42 | €940 | - | -€940 | |
| Trade debts | 44 | €5,620 | €1,516 | -€4,104 | -73.0% |
| Suppliers | 440/4 | €5,620 | €1,516 | -€4,104 | -73.0% |
| Taxes, remuneration and social security | 45 | €6,195 | €5,830 | -€366 | -5.9% |
| Taxes | 450/3 | €5,962 | €5,596 | -€366 | -6.1% |
| Remuneration and social security | 454/9 | €234 | €234 | = | 0.0% |
| Other amounts payable | 47/48 | €22,195 | €14,974 | -€7,221 | -32.5% |
| Accrued charges and deferred income | 492/3 | - | €181 | +€181 | |
| Remuneration, social security and pensions | 62 | €2,453 | €3,189 | +€736 | +30.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,914 | €7,842 | -€13,072 | -62.5% |
| Other operating charges | 640/8 | - | €1,163 | +€1,163 | |
| Gross operating margin | 9900 | €23,460 | €13,025 | -€10,436 | -44.5% |
| Operating profit (loss) | 9901 | €94 | €832 | +€738 | +788% |
| Financial income | 75/76B | €1,908 | €1,397 | -€511 | -26.8% |
| Recurring financial income | 75 | €1,908 | €1,397 | -€511 | -26.8% |
| Financial charges | 65/66B | €188 | €132 | -€56 | -29.7% |
| Recurring financial charges | 65 | €188 | €132 | -€56 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €1,814 | €2,096 | +€283 | +15.6% |
| Income taxes | 67/77 | €1,381 | €1,501 | +€120 | +8.7% |
| Profit (loss) for the period | 9904 | €433 | €595 | +€163 | +37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €433 | €595 | +€163 | +37.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.