NIEMAN MANAGEMENT SERVICES: 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.
NIEMAN MANAGEMENT SERVICES
Largest movements
- Cash +€74,824
up €74,824 (+53.3%), from €140,430 to €215,254
mainly Net result for the year (+€60,524) and Depreciation (+€10,117)
- Tangible fixed assets -€9,595
down €9,595 (-34.7%), from €27,630 to €18,036
of which Furniture and vehicles: -€8,338
- Receivables within one year -€6,938
down €6,938 (-44.8%), from €15,472 to €8,534
of which Trade receivables: -€13,648
- Reserves +€51,207
up €51,207 (+34.8%), from €147,081 to €198,288
of which Distributable reserves: +€51,207
- Tax, wage and social debts +€7,484
up €7,484 (+32.6%), from €22,938 to €30,422
of which Taxes: +€7,885
- Gross operating margin +€39,126
up €39,126 (+37.9%), from €103,359 to €142,485
- Taxes +€11,989
up €11,989 (+68.3%), from €17,546 to €29,534
- Staff costs -€4,440
down €4,440 (-9.8%), from €45,145 to €40,704
- Depreciation +€4,251
up €4,251 (+72.5%), from €5,866 to €10,117
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 | €188,073 | €245,473 | +€57,401 | +30.5% |
| Fixed assets | 21/28 | €27,630 | €18,036 | -€9,595 | -34.7% |
| Tangible fixed assets | 22/27 | €27,630 | €18,036 | -€9,595 | -34.7% |
| Land and buildings | 22 | €2,227 | €1,079 | -€1,148 | -51.5% |
| Plant, machinery and equipment | 23 | €1,174 | €1,066 | -€109 | -9.3% |
| Furniture and vehicles | 24 | €24,229 | €15,891 | -€8,338 | -34.4% |
| Current assets | 29/58 | €160,442 | €227,438 | +€66,995 | +41.8% |
| Amounts receivable within one year | 40/41 | €15,472 | €8,534 | -€6,938 | -44.8% |
| Trade receivables | 40 | €14,615 | €967 | -€13,648 | -93.4% |
| Other amounts receivable | 41 | €857 | €7,567 | +€6,710 | +783% |
| Cash at bank and in hand | 54/58 | €140,430 | €215,254 | +€74,824 | +53.3% |
| Deferred charges and accrued income | 490/1 | €4,541 | €3,650 | -€891 | -19.6% |
| Total equity and liabilities | 10/49 | €188,073 | €245,473 | +€57,401 | +30.5% |
| Equity | 10/15 | €153,286 | €204,493 | +€51,207 | +33.4% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €147,081 | €198,288 | +€51,207 | +34.8% |
| Tax-exempt reserves | 132 | €21,989 | €21,989 | = | 0.0% |
| Distributable reserves | 133 | €125,091 | €176,298 | +€51,207 | +40.9% |
| Amounts payable | 17/49 | €34,787 | €40,980 | +€6,193 | +17.8% |
| Amounts payable within one year | 42/48 | €34,787 | €40,980 | +€6,193 | +17.8% |
| Trade debts | 44 | €1,096 | €601 | -€496 | -45.2% |
| Suppliers | 440/4 | €1,096 | €601 | -€496 | -45.2% |
| Advances received on contracts in progress | 46 | €6,952 | €6,489 | -€463 | -6.7% |
| Taxes, remuneration and social security | 45 | €22,938 | €30,422 | +€7,484 | +32.6% |
| Taxes | 450/3 | €17,886 | €25,771 | +€7,885 | +44.1% |
| Remuneration and social security | 454/9 | €5,052 | €4,651 | -€401 | -7.9% |
| Other amounts payable | 47/48 | €3,800 | €3,469 | -€331 | -8.7% |
| Non-recurring operating income | 76A | €4,300 | - | -€4,300 | |
| Remuneration, social security and pensions | 62 | €45,145 | €40,704 | -€4,440 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,866 | €10,117 | +€4,251 | +72.5% |
| Other operating charges | 640/8 | €2,894 | €1,834 | -€1,060 | -36.6% |
| Gross operating margin | 9900 | €103,359 | €142,485 | +€39,126 | +37.9% |
| Operating profit (loss) | 9901 | €49,454 | €89,830 | +€40,376 | +81.6% |
| Financial income | 75/76B | €624 | €656 | +€32 | +5.1% |
| Recurring financial income | 75 | €624 | €656 | +€32 | +5.1% |
| Financial charges | 65/66B | €369 | €427 | +€58 | +15.8% |
| Recurring financial charges | 65 | €369 | €427 | +€58 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €49,709 | €90,058 | +€40,349 | +81.2% |
| Income taxes | 67/77 | €17,546 | €29,534 | +€11,989 | +68.3% |
| Profit (loss) for the period | 9904 | €32,163 | €60,524 | +€28,360 | +88.2% |
| Profit (loss) for the period to be appropriated | 9905 | €32,163 | €60,524 | +€28,360 | +88.2% |
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 14 October 2026 via checked.be.