NIEDIC: 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.
NIEDIC
Largest movements
- Cash +€840,933
up €840,933 (+1064.0%), from €79,037 to €919,970
mainly Investment in fixed assets (net) (+€440,920) and Current investments (+€300,000)
- Tangible fixed assets -€706,330
down €706,330 (-37.4%), from €1.9m to €1.2m
- Current investments -€300,000
down €300,000 (-100.0%), from €300,000 to €0
- Debts after one year -€496,670
down €496,670 (-37.5%), from €1.3m to €827,511
- Profit (loss) carried forward +€148,224
up €148,224 (+42.2%), from -€351,019 to -€202,795
- Reserves +€89,235
up €89,235 (+5462.8%), from €1,633 to €90,869
of which Tax-exempt reserves: +€89,235
- Other debts +€69,121
up €69,121 (+130.2%), from €53,074 to €122,195
- Provisions +€29,745
up €29,745, from €0 to €29,745
- Gross operating margin -€322,610
down €322,610 (-31.2%), from €1.0m to €709,858
- Depreciation -€93,876
down €93,876 (-26.1%), from €359,286 to €265,410
- Financial charges -€29,300
down €29,300 (-30.8%), from €95,153 to €65,854
- Other operating charges +€11,626
up €11,626 (+18.3%), from €63,614 to €75,240
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 | €2,366,253 | €2,195,980 | -€170,273 | -7.2% |
| Fixed assets | 21/28 | €1,893,101 | €1,186,771 | -€706,330 | -37.3% |
| Tangible fixed assets | 22/27 | €1,890,101 | €1,183,771 | -€706,330 | -37.4% |
| Land and buildings | 22 | €1,890,101 | €1,183,771 | -€706,330 | -37.4% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €473,152 | €1,009,209 | +€536,057 | +113.3% |
| Amounts receivable within one year | 40/41 | €86,673 | €89,239 | +€2,566 | +3.0% |
| Other amounts receivable | 41 | €86,673 | €89,239 | +€2,566 | +3.0% |
| Current investments | 50/53 | €300,000 | €0 | -€300,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €79,037 | €919,970 | +€840,933 | +1064.0% |
| Deferred charges and accrued income | 490/1 | €7,441 | €0 | -€7,441 | -100.0% |
| Total equity and liabilities | 10/49 | €2,366,253 | €2,195,980 | -€170,273 | -7.2% |
| Equity | 10/15 | €411,454 | €648,913 | +€237,459 | +57.7% |
| Contributions | 10/11 | €760,840 | €760,840 | = | 0.0% |
| Capital | 10 | €760,840 | €760,840 | = | 0.0% |
| Issued capital | 100 | €760,840 | €760,840 | = | 0.0% |
| Reserves | 13 | €1,633 | €90,869 | +€89,235 | +5462.8% |
| Non-distributable reserves | 130/1 | €1,633 | €1,633 | = | 0.0% |
| Legal reserve | 130 | €1,633 | €1,633 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | €89,235 | +€89,235 | |
| Profit (loss) carried forward | 14 | -€351,019 | -€202,795 | +€148,224 | +42.2% |
| Provisions and deferred taxes | 16 | €0 | €29,745 | +€29,745 | |
| Deferred taxes | 168 | €0 | €29,745 | +€29,745 | |
| Amounts payable | 17/49 | €1,954,799 | €1,517,322 | -€437,477 | -22.4% |
| Amounts payable after more than one year | 17 | €1,324,180 | €827,511 | -€496,670 | -37.5% |
| Financial debts | 170/4 | €1,324,180 | €827,511 | -€496,670 | -37.5% |
| Amounts payable within one year | 42/48 | €624,393 | €685,236 | +€60,843 | +9.7% |
| Current portion of amounts payable after more than one year | 42 | €561,416 | €540,706 | -€20,710 | -3.7% |
| Trade debts | 44 | €9,903 | €1,936 | -€7,967 | -80.5% |
| Suppliers | 440/4 | €9,903 | €1,936 | -€7,967 | -80.5% |
| Taxes, remuneration and social security | 45 | - | €20,400 | +€20,400 | |
| Taxes | 450/3 | - | €20,400 | +€20,400 | |
| Other amounts payable | 47/48 | €53,074 | €122,195 | +€69,121 | +130.2% |
| Accrued charges and deferred income | 492/3 | €6,226 | €4,575 | -€1,651 | -26.5% |
| Non-recurring operating income | 76A | €402,679 | €204,605 | -€198,074 | -49.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €359,286 | €265,410 | -€93,876 | -26.1% |
| Other operating charges | 640/8 | €63,614 | €75,240 | +€11,626 | +18.3% |
| Gross operating margin | 9900 | €1,032,468 | €709,858 | -€322,610 | -31.2% |
| Operating profit (loss) | 9901 | €609,568 | €369,208 | -€240,360 | -39.4% |
| Financial income | 75/76B | €9,563 | €4,832 | -€4,731 | -49.5% |
| Recurring financial income | 75 | €9,563 | €4,832 | -€4,731 | -49.5% |
| Financial charges | 65/66B | €95,153 | €65,854 | -€29,300 | -30.8% |
| Recurring financial charges | 65 | €95,153 | €65,854 | -€29,300 | -30.8% |
| Profit (loss) for the period before taxes | 9903 | €523,978 | €308,187 | -€215,792 | -41.2% |
| Transfer from deferred taxes | 780 | €21,894 | €0 | -€21,894 | -100.0% |
| Transfer to deferred taxes | 680 | - | €29,745 | +€29,745 | |
| Income taxes | 67/77 | €35,460 | €40,982 | +€5,522 | +15.6% |
| Profit (loss) for the period | 9904 | €510,412 | €237,459 | -€272,953 | -53.5% |
| Transfer from tax-exempt reserves | 789 | €65,683 | €0 | -€65,683 | -100.0% |
| Transfer to tax-exempt reserves | 689 | - | €89,235 | +€89,235 | |
| Profit (loss) for the period to be appropriated | 9905 | €576,095 | €148,224 | -€427,871 | -74.3% |
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 5 October 2026 via checked.be.