NICOMA: 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.
NICOMA
Largest movements
- Receivables within one year -€138,365
down €138,365 (-86.2%), from €160,599 to €22,234
- Receivables after one year -€40,000
down €40,000 (-17.8%), from €224,500 to €184,500
- Cash +€19,771
up €19,771 (+17.0%), from €115,971 to €135,742
mainly Receivables within one year (+€138,365) and Net result for the year (+€94,930)
- Tangible fixed assets -€14,228
down €14,228 (-8.0%), from €176,970 to €162,742
- Reserves -€239,701
down €239,701 (-45.9%), from €522,347 to €282,645
- Other debts +€74,604
up €74,604 (+74.9%), from €99,563 to €174,168
- Debts after one year -€9,656
down €9,656 (-77.5%), from €12,456 to €2,800
of which Financial debts: -€9,656
- Gross operating margin -€23,524
down €23,524 (-14.0%), from €167,460 to €143,936
- Taxes -€9,577
down €9,577 (-20.6%), from €46,495 to €36,918
- Depreciation -€3,670
down €3,670 (-16.2%), from €22,700 to €19,030
- Other operating charges +€1,797
up €1,797 (+65.8%), from €2,732 to €4,529
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 | €685,629 | €513,355 | -€172,275 | -25.1% |
| Fixed assets | 21/28 | €177,020 | €162,792 | -€14,228 | -8.0% |
| Tangible fixed assets | 22/27 | €176,970 | €162,742 | -€14,228 | -8.0% |
| Land and buildings | 22 | €75,083 | €70,238 | -€4,845 | -6.5% |
| Plant, machinery and equipment | 23 | €24,547 | €21,314 | -€3,233 | -13.2% |
| Furniture and vehicles | 24 | €11,153 | €5,491 | -€5,662 | -50.8% |
| Other tangible fixed assets | 26 | €66,189 | €65,700 | -€488 | -0.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €508,609 | €350,562 | -€158,047 | -31.1% |
| Amounts receivable after more than one year | 29 | €224,500 | €184,500 | -€40,000 | -17.8% |
| Other amounts receivable | 291 | €224,500 | €184,500 | -€40,000 | -17.8% |
| Amounts receivable within one year | 40/41 | €160,599 | €22,234 | -€138,365 | -86.2% |
| Other amounts receivable | 41 | €160,599 | €22,234 | -€138,365 | -86.2% |
| Cash at bank and in hand | 54/58 | €115,971 | €135,742 | +€19,771 | +17.0% |
| Deferred charges and accrued income | 490/1 | €7,539 | €8,087 | +€547 | +7.3% |
| Total equity and liabilities | 10/49 | €685,629 | €513,355 | -€172,275 | -25.1% |
| Equity | 10/15 | €528,544 | €288,843 | -€239,701 | -45.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €522,347 | €282,645 | -€239,701 | -45.9% |
| Distributable reserves | 133 | €522,347 | €282,645 | -€239,701 | -45.9% |
| Amounts payable | 17/49 | €157,086 | €224,512 | +€67,427 | +42.9% |
| Amounts payable after more than one year | 17 | €12,456 | €2,800 | -€9,656 | -77.5% |
| Financial debts | 170/4 | €9,656 | - | -€9,656 | |
| Other amounts payable | 178/9 | €2,800 | €2,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,629 | €221,712 | +€77,083 | +53.3% |
| Current portion of amounts payable after more than one year | 42 | €11,049 | €9,656 | -€1,393 | -12.6% |
| Trade debts | 44 | €10,191 | €7,816 | -€2,376 | -23.3% |
| Suppliers | 440/4 | €10,191 | €7,816 | -€2,376 | -23.3% |
| Taxes, remuneration and social security | 45 | €23,826 | €30,073 | +€6,247 | +26.2% |
| Taxes | 450/3 | €23,826 | €30,073 | +€6,247 | +26.2% |
| Other amounts payable | 47/48 | €99,563 | €174,168 | +€74,604 | +74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,700 | €19,030 | -€3,670 | -16.2% |
| Other operating charges | 640/8 | €2,732 | €4,529 | +€1,797 | +65.8% |
| Gross operating margin | 9900 | €167,460 | €143,936 | -€23,524 | -14.0% |
| Operating profit (loss) | 9901 | €142,029 | €120,376 | -€21,652 | -15.2% |
| Financial income | 75/76B | €14,458 | €14,191 | -€267 | -1.8% |
| Recurring financial income | 75 | €14,458 | €14,191 | -€267 | -1.8% |
| Financial charges | 65/66B | €1,821 | €2,720 | +€899 | +49.4% |
| Recurring financial charges | 65 | €1,821 | €2,720 | +€899 | +49.4% |
| Profit (loss) for the period before taxes | 9903 | €154,665 | €131,847 | -€22,818 | -14.8% |
| Income taxes | 67/77 | €46,495 | €36,918 | -€9,577 | -20.6% |
| Profit (loss) for the period | 9904 | €108,170 | €94,930 | -€13,241 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €108,170 | €94,930 | -€13,241 | -12.2% |
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.