NICSAN: 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.
NICSAN
Largest movements
- Tangible fixed assets +€256,435
up €256,435 (+1179.5%), from €21,742 to €278,177
of which Land and buildings: +€250,000
- Cash +€5,559
up €5,559 (+38.0%), from €14,615 to €20,174
mainly Debts after one year (+€280,748) and Depreciation (+€52,994)
- Debts after one year +€280,748
up €280,748 (+11520.4%), from €2,437 to €283,185
- Other debts -€26,457
down €26,457 (-43.0%), from €61,466 to €35,009
- Trade debts -€10,266
down €10,266 (-61.2%), from €16,780 to €6,514
- Tax, wage and social debts +€9,016
up €9,016 (+75.1%), from €12,008 to €21,024
- Current portion of long-term debt +€5,139
up €5,139 (+125.0%), from €4,113 to €9,252
- Depreciation +€47,303
up €47,303 (+831.2%), from €5,691 to €52,994
- Gross operating margin +€9,341
up €9,341 (+17.9%), from €52,216 to €61,557
- Taxes -€7,229
down €7,229 (-61.6%), from €11,726 to €4,498
- Financial charges +€1,216
up €1,216 (+56.7%), from €2,143 to €3,360
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 | €101,398 | €359,825 | +€258,427 | +254.9% |
| Fixed assets | 21/28 | €21,742 | €278,177 | +€256,435 | +1179.5% |
| Tangible fixed assets | 22/27 | €21,742 | €278,177 | +€256,435 | +1179.5% |
| Land and buildings | 22 | - | €250,000 | +€250,000 | |
| Plant, machinery and equipment | 23 | €2,998 | €1,865 | -€1,133 | -37.8% |
| Furniture and vehicles | 24 | €1,719 | €7,847 | +€6,128 | +356.5% |
| Other tangible fixed assets | 26 | €17,025 | €18,465 | +€1,440 | +8.5% |
| Current assets | 29/58 | €79,656 | €81,648 | +€1,992 | +2.5% |
| Stocks and contracts in progress | 3 | €1,500 | €1,500 | = | 0.0% |
| Stocks | 30/36 | €1,500 | €1,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €62,315 | €59,553 | -€2,761 | -4.4% |
| Trade receivables | 40 | €35,719 | €49,977 | +€14,257 | +39.9% |
| Other amounts receivable | 41 | €26,595 | €9,577 | -€17,019 | -64.0% |
| Cash at bank and in hand | 54/58 | €14,615 | €20,174 | +€5,559 | +38.0% |
| Deferred charges and accrued income | 490/1 | €1,226 | €421 | -€806 | -65.7% |
| Total equity and liabilities | 10/49 | €101,398 | €359,825 | +€258,427 | +254.9% |
| Equity | 10/15 | -€47,068 | -€47,514 | -€446 | -0.9% |
| Contributions | 10/11 | €51,000 | €51,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,068 | -€98,514 | -€446 | -0.5% |
| Provisions and deferred taxes | 16 | €51,663 | €51,663 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €51,663 | €51,663 | = | 0.0% |
| Pensions and similar obligations | 160 | €51,663 | €51,663 | = | 0.0% |
| Amounts payable | 17/49 | €96,803 | €355,676 | +€258,873 | +267.4% |
| Amounts payable after more than one year | 17 | €2,437 | €283,185 | +€280,748 | +11520.4% |
| Financial debts | 170/4 | €2,437 | €283,185 | +€280,748 | +11520.4% |
| Amounts payable within one year | 42/48 | €94,366 | €71,799 | -€22,568 | -23.9% |
| Current portion of amounts payable after more than one year | 42 | €4,113 | €9,252 | +€5,139 | +125.0% |
| Trade debts | 44 | €16,780 | €6,514 | -€10,266 | -61.2% |
| Suppliers | 440/4 | €16,780 | €6,514 | -€10,266 | -61.2% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €12,008 | €21,024 | +€9,016 | +75.1% |
| Taxes | 450/3 | €12,008 | €21,024 | +€9,016 | +75.1% |
| Other amounts payable | 47/48 | €61,466 | €35,009 | -€26,457 | -43.0% |
| Accrued charges and deferred income | 492/3 | - | €693 | +€693 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,691 | €52,994 | +€47,303 | +831.2% |
| Other operating charges | 640/8 | €2,229 | €2,044 | -€186 | -8.3% |
| Non-recurring operating charges | 66A | €615 | €0 | -€615 | -100.0% |
| Gross operating margin | 9900 | €52,216 | €61,557 | +€9,341 | +17.9% |
| Operating profit (loss) | 9901 | €43,681 | €6,520 | -€37,161 | -85.1% |
| Financial income | 75/76B | €886 | €892 | +€6 | +0.7% |
| Recurring financial income | 75 | €886 | €892 | +€6 | +0.7% |
| Financial charges | 65/66B | €2,143 | €3,360 | +€1,216 | +56.7% |
| Recurring financial charges | 65 | €2,143 | €3,360 | +€1,216 | +56.7% |
| Profit (loss) for the period before taxes | 9903 | €42,423 | €4,052 | -€38,371 | -90.4% |
| Income taxes | 67/77 | €11,726 | €4,498 | -€7,229 | -61.6% |
| Profit (loss) for the period | 9904 | €30,697 | -€446 | -€31,143 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,697 | -€446 | -€31,143 |
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 9 October 2026 via checked.be.