NICOSANI: 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.
NICOSANI
Largest movements
- Receivables within one year +€87,157
up €87,157 (+621%), from €14,036 to €101,194
of which Trade receivables: +€82,408
- Stocks and contracts -€37,382
down €37,382 (-57.3%), from €65,281 to €27,899
of which Contracts in progress: -€36,161
- Tangible fixed assets +€11,466
up €11,466 (+22.1%), from €52,000 to €63,467
of which Furniture and vehicles: +€19,205
- Trade debts +€36,949
up €36,949 (+84.1%), from €43,917 to €80,866
- Other debts +€8,403
up €8,403 (+52.7%), from €15,936 to €24,340
- Tax, wage and social debts +€8,202
up €8,202 (+277%), from €2,958 to €11,160
of which Taxes: +€8,523
- Profit (loss) carried forward +€3,652
up €3,652 (+5.7%), from -€63,545 to -€59,893
- Current portion of long-term debt +€2,681
up €2,681 (+40.1%), from €6,685 to €9,367
- Gross operating margin +€44,092
up €44,092, from -€22,165 to €21,927
- Depreciation +€2,029
up €2,029 (+24.1%), from €8,421 to €10,450
- Other operating charges -€1,934
down €1,934 (-70.7%), from €2,734 to €800
- Financial charges -€273
down €273 (-3.8%), from €7,106 to €6,833
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 | €131,777 | €193,019 | +€61,242 | +46.5% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €52,460 | €63,927 | +€11,466 | +21.9% |
| Tangible fixed assets | 22/27 | €52,000 | €63,467 | +€11,466 | +22.1% |
| Land and buildings | 22 | €50,850 | €43,510 | -€7,340 | -14.4% |
| Plant, machinery and equipment | 23 | €984 | €585 | -€399 | -40.6% |
| Furniture and vehicles | 24 | €166 | €19,371 | +€19,205 | +11,574% |
| Financial fixed assets | 28 | €460 | €460 | = | 0.0% |
| Current assets | 29/58 | €79,317 | €129,093 | +€49,776 | +62.8% |
| Stocks and contracts in progress | 3 | €65,281 | €27,899 | -€37,382 | -57.3% |
| Stocks | 30/36 | €9,119 | €7,899 | -€1,220 | -13.4% |
| Contracts in progress | 37 | €56,161 | €20,000 | -€36,161 | -64.4% |
| Amounts receivable within one year | 40/41 | €14,036 | €101,194 | +€87,157 | +621% |
| Trade receivables | 40 | €11,807 | €94,215 | +€82,408 | +698% |
| Other amounts receivable | 41 | €2,230 | €6,979 | +€4,749 | +213% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €131,777 | €193,019 | +€61,242 | +46.5% |
| Equity | 10/15 | -€12,029 | -€8,377 | +€3,652 | +30.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,916 | €32,916 | = | 0.0% |
| Distributable reserves | 133 | €32,916 | €32,916 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,545 | -€59,893 | +€3,652 | +5.7% |
| Amounts payable | 17/49 | €143,806 | €201,397 | +€57,590 | +40.0% |
| Amounts payable after more than one year | 17 | €56,718 | €56,182 | -€536 | -0.9% |
| Financial debts | 170/4 | €56,718 | €56,182 | -€536 | -0.9% |
| Amounts payable within one year | 42/48 | €87,088 | €145,214 | +€58,126 | +66.7% |
| Current portion of amounts payable after more than one year | 42 | €6,685 | €9,367 | +€2,681 | +40.1% |
| Financial debts | 43 | €17,591 | €19,482 | +€1,891 | +10.7% |
| Credit institutions | 430/8 | €17,591 | €19,482 | +€1,891 | +10.7% |
| Trade debts | 44 | €43,917 | €80,866 | +€36,949 | +84.1% |
| Suppliers | 440/4 | €43,917 | €80,866 | +€36,949 | +84.1% |
| Taxes, remuneration and social security | 45 | €2,958 | €11,160 | +€8,202 | +277% |
| Taxes | 450/3 | €887 | €9,410 | +€8,523 | +961% |
| Remuneration and social security | 454/9 | €2,071 | €1,750 | -€321 | -15.5% |
| Other amounts payable | 47/48 | €15,936 | €24,340 | +€8,403 | +52.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,421 | €10,450 | +€2,029 | +24.1% |
| Other operating charges | 640/8 | €2,734 | €800 | -€1,934 | -70.7% |
| Non-recurring operating charges | 66A | €2,709 | - | -€2,709 | |
| Gross operating margin | 9900 | -€22,165 | €21,927 | +€44,092 | |
| Operating profit (loss) | 9901 | -€36,029 | €10,677 | +€46,706 | |
| Financial income | 75/76B | €2 | €1 | -€1 | -64.8% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -64.8% |
| Financial charges | 65/66B | €7,106 | €6,833 | -€273 | -3.8% |
| Recurring financial charges | 65 | €7,106 | €6,833 | -€273 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | -€43,134 | €3,844 | +€46,978 | |
| Income taxes | 67/77 | €348 | €192 | -€156 | -44.8% |
| Profit (loss) for the period | 9904 | -€43,482 | €3,652 | +€47,134 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,482 | €3,652 | +€47,134 |
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 13 October 2026 via checked.be.