NICOM: 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.
NICOM
Largest movements
- Receivables within one year +€107,145
up €107,145 (+311.0%), from €34,450 to €141,595
of which Trade receivables: +€53,741
- Stocks and contracts -€84,687
down €84,687 (-66.0%), from €128,310 to €43,622
- Cash -€29,297
down €29,297 (-36.2%), from €80,956 to €51,659
mainly Receivables within one year (-€107,145) and Other debts (-€62,987)
- Tangible fixed assets -€9,329
down €9,329 (-64.4%), from €14,485 to €5,156
of which Furniture and vehicles: -€6,355
- Other debts -€62,987
down €62,987 (-42.2%), from €149,143 to €86,156
- Reserves +€37,250
up €37,250 (+50.6%), from €73,655 to €110,905
- Accrued charges and deferred income +€6,945
new in 2025: €6,945
- Trade debts +€2,692
up €2,692 (+25.4%), from €10,578 to €13,269
- Gross operating margin +€95,880
up €95,880 (+615.5%), from €15,578 to €111,457
- Write-downs +€43,622
new in 2025: €43,622
- Taxes +€16,565
up €16,565 (+845.0%), from €1,960 to €18,525
- Financial charges +€5,633
up €5,633 (+411.8%), from €1,368 to €7,002
- Depreciation -€5,421
down €5,421 (-55.8%), from €9,708 to €4,288
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 | €262,651 | €246,482 | -€16,169 | -6.2% |
| Fixed assets | 21/28 | €18,935 | €9,606 | -€9,329 | -49.3% |
| Tangible fixed assets | 22/27 | €14,485 | €5,156 | -€9,329 | -64.4% |
| Plant, machinery and equipment | 23 | €1,974 | - | -€1,974 | |
| Furniture and vehicles | 24 | €6,355 | - | -€6,355 | |
| Other tangible fixed assets | 26 | €6,156 | €5,156 | -€1,000 | -16.2% |
| Financial fixed assets | 28 | €4,450 | €4,450 | = | 0.0% |
| Current assets | 29/58 | €243,716 | €236,876 | -€6,840 | -2.8% |
| Stocks and contracts in progress | 3 | €128,310 | €43,622 | -€84,687 | -66.0% |
| Stocks | 30/36 | €128,310 | €43,622 | -€84,687 | -66.0% |
| Amounts receivable within one year | 40/41 | €34,450 | €141,595 | +€107,145 | +311.0% |
| Trade receivables | 40 | €32,444 | €86,185 | +€53,741 | +165.6% |
| Other amounts receivable | 41 | €2,007 | €55,410 | +€53,403 | +2661.5% |
| Cash at bank and in hand | 54/58 | €80,956 | €51,659 | -€29,297 | -36.2% |
| Total equity and liabilities | 10/49 | €262,651 | €246,482 | -€16,169 | -6.2% |
| Equity | 10/15 | €93,655 | €130,905 | +€37,250 | +39.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €73,655 | €110,905 | +€37,250 | +50.6% |
| Distributable reserves | 133 | €73,655 | €110,905 | +€37,250 | +50.6% |
| Provisions and deferred taxes | 16 | €7,060 | €7,060 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,060 | €7,060 | = | 0.0% |
| Environmental obligations | 163 | €7,060 | €7,060 | = | 0.0% |
| Amounts payable | 17/49 | €161,936 | €108,517 | -€53,419 | -33.0% |
| Amounts payable within one year | 42/48 | €161,936 | €101,572 | -€60,364 | -37.3% |
| Trade debts | 44 | €10,578 | €13,269 | +€2,692 | +25.4% |
| Suppliers | 440/4 | €10,578 | €13,269 | +€2,692 | +25.4% |
| Taxes, remuneration and social security | 45 | €2,216 | €2,147 | -€69 | -3.1% |
| Taxes | 450/3 | €2,216 | €2,147 | -€69 | -3.1% |
| Other amounts payable | 47/48 | €149,143 | €86,156 | -€62,987 | -42.2% |
| Accrued charges and deferred income | 492/3 | - | €6,945 | +€6,945 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,708 | €4,288 | -€5,421 | -55.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €43,622 | +€43,622 | |
| Other operating charges | 640/8 | €881 | €770 | -€110 | -12.5% |
| Gross operating margin | 9900 | €15,578 | €111,457 | +€95,880 | +615.5% |
| Operating profit (loss) | 9901 | €4,989 | €62,777 | +€57,788 | +1158.4% |
| Financial income | 75/76B | €18 | - | -€18 | |
| Recurring financial income | 75 | €18 | - | -€18 | |
| Financial charges | 65/66B | €1,368 | €7,002 | +€5,633 | +411.8% |
| Recurring financial charges | 65 | €1,368 | €7,002 | +€5,633 | +411.8% |
| Profit (loss) for the period before taxes | 9903 | €3,638 | €55,775 | +€52,137 | +1433.1% |
| Income taxes | 67/77 | €1,960 | €18,525 | +€16,565 | +845.0% |
| Profit (loss) for the period | 9904 | €1,678 | €37,250 | +€35,572 | +2120.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,678 | €37,250 | +€35,572 | +2120.0% |
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 6 October 2026 via checked.be.