NIFIKA: 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.
What changed
NIFIKA
NACE 68.121, Development of residential building projects
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€14,126
2024 · €277,820-€263,694
Equity
€8.4m
2024 · €8.4m+€14,126
Cash
€278,366
2024 · €21,424+€256,942
Balance sheet total
€13.0m
2024 · €13.0m-€56,432
Largest movements
Assets
- Receivables within one year -€643,554
down €643,554 (-9.5%), from €6.7m to €6.1m
of which Other amounts receivable: -€595,502
- Receivables after one year +€593,754
up €593,754, from €0 to €593,754
- Cash +€256,942
up €256,942 (+1199.3%), from €21,424 to €278,366
mainly Receivables within one year (+€643,554) and Stocks and contracts (+€234,699)
- Stocks and contracts -€234,699
down €234,699 (-19.9%), from €1.2m to €943,484
Equity and liabilities
- Other debts +€216,688
up €216,688 (+7.2%), from €3.0m to €3.2m
- Trade debts -€131,755
down €131,755 (-79.7%), from €165,378 to €33,623
Income statement
- Gross operating margin -€306,170
down €306,170 (-50.5%), from €606,772 to €300,602
- Taxes -€104,657
down €104,657 (-93.6%), from €111,821 to €7,165
- Other operating charges -€79,366
down €79,366 (-64.9%), from €122,338 to €42,972
- Financial charges +€55,801
up €55,801 (+25.7%), from €217,313 to €273,114
of which Financial charges: +€55,236
- Staff costs -€50,124
down €50,124 (-99.8%), from €50,230 to €106
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.
Result 2024
€277,820
Gross operating margin
-€306,170
Staff costs
+€50,124
Depreciation
+€1,903
Other operating charges
+€79,366
Other operating items
-€89,003
Financial income
-€48,769
Financial charges
-€55,801
Taxes
+€104,657
Result 2025
€14,126
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.
From operations
+€489,055
Investment
-€133,114
Financing
-€99,000
Cash 2024
€21,424
From operations (derived)
+€489,055
Net result for the year
+€14,126
Depreciation
+€170,334
Receivables after one year
-€593,754
Stocks and contracts
+€234,699
Receivables within one year
+€643,554
Deferred charges and accrued income
-€8,347
Provisions
-€14,915
Trade debts
-€131,755
Tax, wage and social debts
-€41,577
Other debts
+€216,688
Investment (derived)
-€133,114
Investment in fixed assets (net)
-€133,114
Financing
-€99,000
Debts after one year
-€99,000
Cash 2025
€278,366
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,044,611 | €12,988,178 | -€56,432 | -0.4% |
| Fixed assets | 21/28 | €5,104,359 | €5,067,139 | -€37,221 | -0.7% |
| Tangible fixed assets | 22/27 | €4,165,283 | €4,127,491 | -€37,792 | -0.9% |
| Land and buildings | 22 | €4,165,157 | €4,127,491 | -€37,666 | -0.9% |
| Furniture and vehicles | 24 | €127 | €0 | -€127 | -100.0% |
| Financial fixed assets | 28 | €939,076 | €939,648 | +€572 | +0.1% |
| Current assets | 29/58 | €7,940,251 | €7,921,039 | -€19,212 | -0.2% |
| Amounts receivable after more than one year | 29 | €0 | €593,754 | +€593,754 | |
| Other amounts receivable | 291 | €0 | €593,754 | +€593,754 | |
| Stocks and contracts in progress | 3 | €1,178,183 | €943,484 | -€234,699 | -19.9% |
| Stocks | 30/36 | €1,178,183 | €943,484 | -€234,699 | -19.9% |
| Amounts receivable within one year | 40/41 | €6,740,644 | €6,097,090 | -€643,554 | -9.5% |
| Trade receivables | 40 | €139,036 | €90,984 | -€48,052 | -34.6% |
| Other amounts receivable | 41 | €6,601,608 | €6,006,106 | -€595,502 | -9.0% |
| Cash at bank and in hand | 54/58 | €21,424 | €278,366 | +€256,942 | +1199.3% |
| Deferred charges and accrued income | 490/1 | €0 | €8,347 | +€8,347 | |
| Total equity and liabilities | 10/49 | €13,044,611 | €12,988,178 | -€56,432 | -0.4% |
| Equity | 10/15 | €8,417,613 | €8,431,739 | +€14,126 | +0.2% |
| Contributions | 10/11 | €2,150,000 | €2,150,000 | = | 0.0% |
| Capital | 10 | €2,150,000 | €2,150,000 | = | 0.0% |
| Issued capital | 100 | €2,150,000 | €2,150,000 | = | 0.0% |
| Revaluation surpluses | 12 | €526,650 | €526,650 | = | 0.0% |
| Reserves | 13 | €5,740,963 | €5,755,089 | +€14,126 | +0.2% |
| Non-distributable reserves | 130/1 | €215,000 | €215,000 | = | 0.0% |
| Legal reserve | 130 | €215,000 | €215,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €569,041 | €540,079 | -€28,962 | -5.1% |
| Distributable reserves | 133 | €4,956,922 | €5,000,011 | +€43,088 | +0.9% |
| Provisions and deferred taxes | 16 | €136,989 | €122,074 | -€14,915 | -10.9% |
| Deferred taxes | 168 | €136,989 | €122,074 | -€14,915 | -10.9% |
| Amounts payable | 17/49 | €4,490,009 | €4,434,365 | -€55,644 | -1.2% |
| Amounts payable after more than one year | 17 | €1,090,229 | €991,229 | -€99,000 | -9.1% |
| Financial debts | 170/4 | €1,084,229 | €985,229 | -€99,000 | -9.1% |
| Other amounts payable | 178/9 | €6,000 | €6,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €3,399,780 | €3,443,136 | +€43,356 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €99,000 | €99,000 | = | 0.0% |
| Trade debts | 44 | €165,378 | €33,623 | -€131,755 | -79.7% |
| Suppliers | 440/4 | €165,378 | €33,623 | -€131,755 | -79.7% |
| Taxes, remuneration and social security | 45 | €119,213 | €77,637 | -€41,577 | -34.9% |
| Taxes | 450/3 | €119,213 | €77,637 | -€41,577 | -34.9% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €3,016,189 | €3,232,877 | +€216,688 | +7.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €375,302 | €0 | -€375,302 | -100.0% |
| Remuneration, social security and pensions | 62 | €50,230 | €106 | -€50,124 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €172,238 | €170,334 | -€1,903 | -1.1% |
| Other operating charges | 640/8 | €122,338 | €42,972 | -€79,366 | -64.9% |
| Non-recurring operating charges | 66A | €2,584 | €91,587 | +€89,003 | +3444.9% |
| Gross operating margin | 9900 | €606,772 | €300,602 | -€306,170 | -50.5% |
| Operating profit (loss) | 9901 | €259,383 | -€4,397 | -€263,780 | |
| Financial income | 75/76B | €332,655 | €283,886 | -€48,769 | -14.7% |
| Recurring financial income | 75 | €332,655 | €283,886 | -€48,769 | -14.7% |
| Financial charges | 65/66B | €217,313 | €273,114 | +€55,801 | +25.7% |
| Recurring financial charges | 65 | €217,313 | €272,549 | +€55,236 | +25.4% |
| Non-recurring financial charges | 66B | - | €565 | +€565 | |
| Profit (loss) for the period before taxes | 9903 | €374,726 | €6,376 | -€368,350 | -98.3% |
| Transfer from deferred taxes | 780 | €14,915 | €14,915 | = | 0.0% |
| Income taxes | 67/77 | €111,821 | €7,165 | -€104,657 | -93.6% |
| Profit (loss) for the period | 9904 | €277,820 | €14,126 | -€263,694 | -94.9% |
| Transfer from tax-exempt reserves | 789 | €28,962 | €28,962 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €134,720 | €0 | -€134,720 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €172,062 | €43,088 | -€128,974 | -75.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.