NIHEL: 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.
NIHEL
Largest movements
- Receivables within one year -€48,218
down €48,218 (-87.0%), from €55,402 to €7,183
of which Trade receivables: -€53,480
- Stocks and contracts -€7,005
down €7,005 (-77.8%), from €9,010 to €2,005
- Cash +€4,758
up €4,758 (+16.2%), from €29,358 to €34,116
mainly Receivables within one year (+€48,218) and Stocks and contracts (+€7,005)
- Intangible fixed assets -€1,000
down €1,000 (-66.7%), from €1,500 to €500
- Trade debts -€50,703
down €50,703 (-73.5%), from €69,018 to €18,315
- Tax, wage and social debts -€1,069
down €1,069 (-49.0%), from €2,184 to €1,114
of which Taxes: -€2,184
- Gross operating margin +€79,175
up €79,175, from -€74,845 to €4,330
- Financial income -€71,641
no longer reported in 2025 (was €71,641)
- Other operating charges +€2,192
up €2,192 (+3,985%), from €55 to €2,247
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 | €95,269 | €43,804 | -€51,466 | -54.0% |
| Fixed assets | 21/28 | €1,500 | €500 | -€1,000 | -66.7% |
| Intangible fixed assets | 21 | €1,500 | €500 | -€1,000 | -66.7% |
| Current assets | 29/58 | €93,769 | €43,304 | -€50,466 | -53.8% |
| Stocks and contracts in progress | 3 | €9,010 | €2,005 | -€7,005 | -77.8% |
| Stocks | 30/36 | €9,010 | €2,005 | -€7,005 | -77.8% |
| Amounts receivable within one year | 40/41 | €55,402 | €7,183 | -€48,218 | -87.0% |
| Trade receivables | 40 | €53,871 | €391 | -€53,480 | -99.3% |
| Other amounts receivable | 41 | €1,531 | €6,792 | +€5,262 | +344% |
| Cash at bank and in hand | 54/58 | €29,358 | €34,116 | +€4,758 | +16.2% |
| Total equity and liabilities | 10/49 | €95,269 | €43,804 | -€51,466 | -54.0% |
| Equity | 10/15 | €24,068 | €24,374 | +€306 | +1.3% |
| Contributions | 10/11 | €11,900 | €11,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,168 | €12,474 | +€306 | +2.5% |
| Amounts payable | 17/49 | €71,201 | €19,429 | -€51,772 | -72.7% |
| Amounts payable within one year | 42/48 | €71,201 | €19,429 | -€51,772 | -72.7% |
| Trade debts | 44 | €69,018 | €18,315 | -€50,703 | -73.5% |
| Suppliers | 440/4 | €69,018 | €18,315 | -€50,703 | -73.5% |
| Taxes, remuneration and social security | 45 | €2,184 | €1,114 | -€1,069 | -49.0% |
| Taxes | 450/3 | €2,184 | - | -€2,184 | |
| Remuneration and social security | 454/9 | - | €1,114 | +€1,114 | |
| Non-recurring operating income | 76A | - | €2,566 | +€2,566 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,000 | €1,000 | = | 0.0% |
| Other operating charges | 640/8 | €55 | €2,247 | +€2,192 | +3,985% |
| Gross operating margin | 9900 | -€74,845 | €4,330 | +€79,175 | |
| Operating profit (loss) | 9901 | -€75,900 | €1,083 | +€76,983 | |
| Financial income | 75/76B | €71,641 | - | -€71,641 | |
| Recurring financial income | 75 | €71,641 | - | -€71,641 | |
| Financial charges | 65/66B | €1,317 | €776 | -€541 | -41.1% |
| Recurring financial charges | 65 | €1,317 | €776 | -€541 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | -€5,577 | €306 | +€5,883 | |
| Profit (loss) for the period | 9904 | -€5,577 | €306 | +€5,883 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,577 | €306 | +€5,883 |
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 19 October 2026 via checked.be.