NICOLUNA: 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.
NICOLUNA
Largest movements
- Receivables within one year +€3,473
up €3,473 (+23.2%), from €14,993 to €18,466
of which Other amounts receivable: +€6,418
- Debts after one year -€3,351
no longer reported in 2025 (was €3,351)
- Tax, wage and social debts +€2,641
up €2,641 (+60.0%), from €4,405 to €7,046
of which Remuneration and social security: +€2,511
- Trade debts +€2,492
up €2,492 (+22.0%), from €11,351 to €13,843
- Accrued charges and deferred income +€1,250
up €1,250 (+43.9%), from €2,850 to €4,100
- Profit (loss) carried forward +€1,078
up €1,078 (+4.0%), from -€26,767 to -€25,689
- Depreciation -€3,894
no longer reported in 2025 (was €3,894)
- Gross operating margin +€3,816
up €3,816 (+82.2%), from €4,642 to €8,458
- Staff costs -€2,024
down €2,024 (-32.4%), from €6,252 to €4,228
- Financial charges +€1,394
up €1,394 (+90.4%), from €1,543 to €2,937
- Other operating charges -€709
down €709 (-76.8%), from €923 to €214
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 | €18,843 | €22,502 | +€3,659 | +19.4% |
| Fixed assets | 21/28 | €1,851 | €1,901 | +€50 | +2.7% |
| Financial fixed assets | 28 | €1,851 | €1,901 | +€50 | +2.7% |
| Current assets | 29/58 | €16,991 | €20,600 | +€3,609 | +21.2% |
| Stocks and contracts in progress | 3 | €1,498 | €1,498 | = | 0.0% |
| Stocks | 30/36 | €1,498 | €1,498 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,993 | €18,466 | +€3,473 | +23.2% |
| Trade receivables | 40 | €6,813 | €3,868 | -€2,945 | -43.2% |
| Other amounts receivable | 41 | €8,180 | €14,598 | +€6,418 | +78.5% |
| Cash at bank and in hand | 54/58 | €388 | €525 | +€136 | +35.0% |
| Deferred charges and accrued income | 490/1 | €112 | €112 | = | 0.0% |
| Total equity and liabilities | 10/49 | €18,843 | €22,502 | +€3,659 | +19.4% |
| Equity | 10/15 | -€6,928 | -€5,850 | +€1,078 | +15.6% |
| Contributions | 10/11 | €11,860 | €11,860 | = | 0.0% |
| Reserves | 13 | €7,979 | €7,979 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,979 | €7,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,767 | -€25,689 | +€1,078 | +4.0% |
| Amounts payable | 17/49 | €25,771 | €28,352 | +€2,581 | +10.0% |
| Amounts payable after more than one year | 17 | €3,351 | - | -€3,351 | |
| Financial debts | 170/4 | €3,351 | - | -€3,351 | |
| Amounts payable within one year | 42/48 | €19,570 | €24,252 | +€4,682 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €3,814 | €3,351 | -€463 | -12.1% |
| Financial debts | 43 | - | €12 | +€12 | |
| Credit institutions | 430/8 | - | €12 | +€12 | |
| Trade debts | 44 | €11,351 | €13,843 | +€2,492 | +22.0% |
| Suppliers | 440/4 | €11,351 | €13,843 | +€2,492 | +22.0% |
| Taxes, remuneration and social security | 45 | €4,405 | €7,046 | +€2,641 | +60.0% |
| Taxes | 450/3 | €909 | €1,039 | +€130 | +14.3% |
| Remuneration and social security | 454/9 | €3,496 | €6,007 | +€2,511 | +71.8% |
| Accrued charges and deferred income | 492/3 | €2,850 | €4,100 | +€1,250 | +43.9% |
| Remuneration, social security and pensions | 62 | €6,252 | €4,228 | -€2,024 | -32.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,894 | - | -€3,894 | |
| Other operating charges | 640/8 | €923 | €214 | -€709 | -76.8% |
| Gross operating margin | 9900 | €4,642 | €8,458 | +€3,816 | +82.2% |
| Operating profit (loss) | 9901 | -€6,428 | €4,015 | +€10,443 | |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €1,543 | €2,937 | +€1,394 | +90.4% |
| Recurring financial charges | 65 | €1,543 | €2,937 | +€1,394 | +90.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,968 | €1,078 | +€9,046 | |
| Income taxes | 67/77 | €50 | - | -€50 | |
| Profit (loss) for the period | 9904 | -€8,018 | €1,078 | +€9,096 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,018 | €1,078 | +€9,096 |
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 14 October 2026 via checked.be.