NICOVER: 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.
NICOVER
Largest movements
- Current investments +€69,000
new in 2025: €69,000
- Cash -€47,425
down €47,425 (-72.4%), from €65,505 to €18,080
mainly Current investments (-€69,000) and Contributions, distributions and other (-€23,529)
- Tangible fixed assets -€17,386
down €17,386 (-18.2%), from €95,405 to €78,019
of which Leasing and similar rights: -€18,033
- Other debts +€25,810
up €25,810 (+258.3%), from €9,991 to €35,801
- Debts after one year -€17,086
down €17,086 (-27.5%), from €62,031 to €44,945
- Tax, wage and social debts -€5,109
down €5,109 (-45.3%), from €11,268 to €6,159
- Trade debts +€1,922
up €1,922 (+193.0%), from €996 to €2,918
- Gross operating margin +€25,583
up €25,583 (+69.1%), from €37,046 to €62,629
- Taxes +€8,872
up €8,872 (+192.8%), from €4,602 to €13,474
- Depreciation +€6,410
up €6,410 (+42.3%), from €15,160 to €21,570
- Financial charges +€759
up €759 (+24.8%), from €3,062 to €3,821
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 | €177,007 | €182,625 | +€5,617 | +3.2% |
| Fixed assets | 21/28 | €95,405 | €78,019 | -€17,386 | -18.2% |
| Tangible fixed assets | 22/27 | €95,405 | €78,019 | -€17,386 | -18.2% |
| Leasing and similar rights | 25 | €77,527 | €59,495 | -€18,033 | -23.3% |
| Other tangible fixed assets | 26 | €17,877 | €18,524 | +€647 | +3.6% |
| Current assets | 29/58 | €81,603 | €104,605 | +€23,003 | +28.2% |
| Amounts receivable within one year | 40/41 | €15,246 | €16,781 | +€1,535 | +10.1% |
| Trade receivables | 40 | €15,246 | €15,246 | = | 0.0% |
| Other amounts receivable | 41 | - | €1,535 | +€1,535 | |
| Current investments | 50/53 | - | €69,000 | +€69,000 | |
| Cash at bank and in hand | 54/58 | €65,505 | €18,080 | -€47,425 | -72.4% |
| Deferred charges and accrued income | 490/1 | €852 | €744 | -€107 | -12.6% |
| Total equity and liabilities | 10/49 | €177,007 | €182,625 | +€5,617 | +3.2% |
| Equity | 10/15 | €75,662 | €74,854 | -€807 | -1.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €70,662 | €69,854 | -€807 | -1.1% |
| Distributable reserves | 133 | €70,662 | €69,854 | -€807 | -1.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €101,346 | €107,770 | +€6,424 | +6.3% |
| Amounts payable after more than one year | 17 | €62,031 | €44,945 | -€17,086 | -27.5% |
| Financial debts | 170/4 | €62,031 | €44,945 | -€17,086 | -27.5% |
| Amounts payable within one year | 42/48 | €38,597 | €61,964 | +€23,367 | +60.5% |
| Current portion of amounts payable after more than one year | 42 | €16,343 | €17,086 | +€743 | +4.5% |
| Trade debts | 44 | €996 | €2,918 | +€1,922 | +193.0% |
| Suppliers | 440/4 | €996 | €2,918 | +€1,922 | +193.0% |
| Taxes, remuneration and social security | 45 | €11,268 | €6,159 | -€5,109 | -45.3% |
| Taxes | 450/3 | €11,268 | €6,159 | -€5,109 | -45.3% |
| Other amounts payable | 47/48 | €9,991 | €35,801 | +€25,810 | +258.3% |
| Accrued charges and deferred income | 492/3 | €717 | €861 | +€143 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,160 | €21,570 | +€6,410 | +42.3% |
| Other operating charges | 640/8 | €888 | €1,043 | +€154 | +17.4% |
| Gross operating margin | 9900 | €37,046 | €62,629 | +€25,583 | +69.1% |
| Operating profit (loss) | 9901 | €20,998 | €40,016 | +€19,018 | +90.6% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,062 | €3,821 | +€759 | +24.8% |
| Recurring financial charges | 65 | €3,062 | €3,821 | +€759 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €17,936 | €36,196 | +€18,260 | +101.8% |
| Income taxes | 67/77 | €4,602 | €13,474 | +€8,872 | +192.8% |
| Profit (loss) for the period | 9904 | €13,334 | €22,722 | +€9,388 | +70.4% |
| Profit (loss) for the period to be appropriated | 9905 | €13,334 | €22,722 | +€9,388 | +70.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.