NIELSVINS: 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.
NIELSVINS
Largest movements
- Tangible fixed assets -€15,749
down €15,749 (-9.8%), from €161,434 to €145,685
of which Land and buildings: -€10,881
- Receivables within one year -€13,886
down €13,886 (-51.3%), from €27,081 to €13,195
- Stocks and contracts -€9,467
down €9,467 (-7.7%), from €122,796 to €113,330
- Other debts -€162,325
down €162,325 (-99.2%), from €163,655 to €1,330
- Debts after one year +€94,742
up €94,742 (+1,599%), from €5,924 to €100,666
of which Other amounts payable: +€99,466
- Trade debts +€26,068
up €26,068 (+66.9%), from €38,950 to €65,018
- Accrued charges and deferred income +€7,535
new in 2025: €7,535
- Tax, wage and social debts -€7,531
down €7,531 (-25.0%), from €30,156 to €22,626
of which Remuneration and social security: -€4,423
- Gross operating margin -€11,236
down €11,236 (-11.1%), from €100,838 to €89,602
- Staff costs +€1,387
up €1,387 (+2.2%), from €62,516 to €63,903
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 | €320,732 | €281,595 | -€39,137 | -12.2% |
| Fixed assets | 21/28 | €161,434 | €145,685 | -€15,749 | -9.8% |
| Tangible fixed assets | 22/27 | €161,434 | €145,685 | -€15,749 | -9.8% |
| Land and buildings | 22 | €130,464 | €119,583 | -€10,881 | -8.3% |
| Plant, machinery and equipment | 23 | €26,923 | €24,615 | -€2,308 | -8.6% |
| Other tangible fixed assets | 26 | €4,047 | €1,487 | -€2,560 | -63.3% |
| Current assets | 29/58 | €159,298 | €135,911 | -€23,388 | -14.7% |
| Stocks and contracts in progress | 3 | €122,796 | €113,330 | -€9,467 | -7.7% |
| Stocks | 30/36 | €122,796 | €113,330 | -€9,467 | -7.7% |
| Amounts receivable within one year | 40/41 | €27,081 | €13,195 | -€13,886 | -51.3% |
| Trade receivables | 40 | €27,081 | €13,195 | -€13,886 | -51.3% |
| Cash at bank and in hand | 54/58 | €4,741 | €6,621 | +€1,880 | +39.6% |
| Deferred charges and accrued income | 490/1 | €4,681 | €2,766 | -€1,915 | -40.9% |
| Total equity and liabilities | 10/49 | €320,732 | €281,595 | -€39,137 | -12.2% |
| Equity | 10/15 | €77,441 | €79,696 | +€2,255 | +2.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,241 | €11,496 | +€2,255 | +24.4% |
| Amounts payable | 17/49 | €243,291 | €201,899 | -€41,392 | -17.0% |
| Amounts payable after more than one year | 17 | €5,924 | €100,666 | +€94,742 | +1,599% |
| Financial debts | 170/4 | €5,924 | €1,200 | -€4,724 | -79.7% |
| Other amounts payable | 178/9 | - | €99,466 | +€99,466 | |
| Amounts payable within one year | 42/48 | €237,367 | €93,698 | -€143,669 | -60.5% |
| Current portion of amounts payable after more than one year | 42 | €4,605 | €4,724 | +€119 | +2.6% |
| Trade debts | 44 | €38,950 | €65,018 | +€26,068 | +66.9% |
| Suppliers | 440/4 | €38,950 | €65,018 | +€26,068 | +66.9% |
| Taxes, remuneration and social security | 45 | €30,156 | €22,626 | -€7,531 | -25.0% |
| Taxes | 450/3 | €12,311 | €9,204 | -€3,107 | -25.2% |
| Remuneration and social security | 454/9 | €17,845 | €13,422 | -€4,423 | -24.8% |
| Other amounts payable | 47/48 | €163,655 | €1,330 | -€162,325 | -99.2% |
| Accrued charges and deferred income | 492/3 | - | €7,535 | +€7,535 | |
| Remuneration, social security and pensions | 62 | €62,516 | €63,903 | +€1,387 | +2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,441 | €22,140 | -€301 | -1.3% |
| Other operating charges | 640/8 | €1,012 | €768 | -€245 | -24.2% |
| Gross operating margin | 9900 | €100,838 | €89,602 | -€11,236 | -11.1% |
| Operating profit (loss) | 9901 | €14,869 | €2,791 | -€12,078 | -81.2% |
| Financial income | 75/76B | €2 | €2 | +€0 | +14.7% |
| Recurring financial income | 75 | €2 | €2 | +€0 | +14.7% |
| Financial charges | 65/66B | €705 | €538 | -€166 | -23.6% |
| Recurring financial charges | 65 | €705 | €538 | -€166 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €14,166 | €2,255 | -€11,911 | -84.1% |
| Profit (loss) for the period | 9904 | €14,166 | €2,255 | -€11,911 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €14,166 | €2,255 | -€11,911 | -84.1% |
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 26 October 2026 via checked.be.