NIKA: 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.
What changed
NIKA
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€2.9m
2024 · €116,164+€2.8m
Equity
€5.8m
2024 · €2.9m+€2.9m
Cash
€1.4m
2024 · €44,465+€1.3m
Balance sheet total
€8.3m
2024 · €4.9m+€3.3m
Largest movements
Assets
- Receivables within one year +€2.1m
up €2.1m (+311.2%), from €667,825 to €2.7m
of which Other amounts receivable: +€2.1m
- Cash +€1.3m
up €1.3m (+2959.0%), from €44,465 to €1.4m
mainly Net result for the year (+€2.9m) and Provisions (+€928,752)
- Tangible fixed assets -€82,650
down €82,650 (-2.3%), from €3.6m to €3.5m
of which Land and buildings: -€82,477
Equity and liabilities
- Reserves +€3.0m
up €3.0m (+182.5%), from €1.6m to €4.6m
of which Tax-exempt reserves: +€2.8m
- Provisions +€928,752
up €928,752 (+505.4%), from €183,775 to €1.1m
- Debts after one year -€353,168
down €353,168 (-27.3%), from €1.3m to €941,402
- Profit (loss) carried forward -€110,081
down €110,081 (-74.0%), from €148,678 to €38,597
Income statement
- Gross operating margin +€3.6m
up €3.6m (+796.6%), from €452,479 to €4.1m
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
€116,164
Gross operating margin
+€3.6m
Depreciation
+€37,645
Write-downs
+€950
Other operating charges
+€10,103
Financial income
+€23,275
Financial charges
+€9,727
Taxes
+€13,922
Deferred taxes and other
-€935,274
Result 2025
€2.9m
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
+€1.8m
Investment
-€76,331
Financing
-€396,619
Cash 2024
€44,465
From operations (derived)
+€1.8m
Net result for the year
+€2.9m
Depreciation
+€158,980
Receivables within one year
-€2.1m
Deferred charges and accrued income
-€20,706
Provisions
+€928,752
Trade debts
-€71,417
Tax, wage and social debts
-€21,049
Advances received
+€3,328
Other debts
+€23,228
Accrued charges and deferred income
-€15,174
Investment (derived)
-€76,331
Investment in fixed assets (net)
-€76,331
Financing
-€396,619
Debts after one year
-€353,168
Current portion of long-term debt
-€45,095
Short-term financial debts
+€1,643
Cash 2025
€1.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,929,997 | €8,262,222 | +€3.3m | +67.6% |
| Fixed assets | 21/28 | €3,609,310 | €3,526,660 | -€82,650 | -2.3% |
| Tangible fixed assets | 22/27 | €3,609,310 | €3,526,660 | -€82,650 | -2.3% |
| Land and buildings | 22 | €3,607,908 | €3,525,431 | -€82,477 | -2.3% |
| Plant, machinery and equipment | 23 | €1,402 | €1,229 | -€173 | -12.3% |
| Current assets | 29/58 | €1,320,687 | €4,735,562 | +€3.4m | +258.6% |
| Amounts receivable after more than one year | 29 | €600,000 | €600,000 | = | 0.0% |
| Other amounts receivable | 291 | €600,000 | €600,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €667,825 | €2,746,261 | +€2.1m | +311.2% |
| Trade receivables | 40 | €786 | - | -€786 | |
| Other amounts receivable | 41 | €667,039 | €2,746,261 | +€2.1m | +311.7% |
| Cash at bank and in hand | 54/58 | €44,465 | €1,360,198 | +€1.3m | +2959.0% |
| Deferred charges and accrued income | 490/1 | €8,397 | €29,103 | +€20,706 | +246.6% |
| Total equity and liabilities | 10/49 | €4,929,997 | €8,262,222 | +€3.3m | +67.6% |
| Equity | 10/15 | €2,930,791 | €5,811,967 | +€2.9m | +98.3% |
| Contributions | 10/11 | €1,142,789 | €1,142,789 | = | 0.0% |
| Capital | 10 | €1,142,789 | €1,142,789 | = | 0.0% |
| Issued capital | 100 | €1,142,789 | €1,142,789 | = | 0.0% |
| Reserves | 13 | €1,639,324 | €4,630,581 | +€3.0m | +182.5% |
| Non-distributable reserves | 130/1 | €88,000 | €93,000 | +€5,000 | +5.7% |
| Legal reserve | 130 | €88,000 | €93,000 | +€5,000 | +5.7% |
| Tax-exempt reserves | 132 | €551,324 | €3,337,581 | +€2.8m | +505.4% |
| Distributable reserves | 133 | €1,000,000 | €1,200,000 | +€200,000 | +20.0% |
| Profit (loss) carried forward | 14 | €148,678 | €38,597 | -€110,081 | -74.0% |
| Provisions and deferred taxes | 16 | €183,775 | €1,112,527 | +€928,752 | +505.4% |
| Deferred taxes | 168 | €183,775 | €1,112,527 | +€928,752 | +505.4% |
| Amounts payable | 17/49 | €1,815,431 | €1,337,728 | -€477,703 | -26.3% |
| Amounts payable after more than one year | 17 | €1,294,570 | €941,402 | -€353,168 | -27.3% |
| Financial debts | 170/4 | €1,294,570 | €941,402 | -€353,168 | -27.3% |
| Amounts payable within one year | 42/48 | €499,306 | €389,945 | -€109,361 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €213,042 | €167,948 | -€45,095 | -21.2% |
| Financial debts | 43 | €152,991 | €154,634 | +€1,643 | +1.1% |
| Credit institutions | 430/8 | €152,991 | €154,634 | +€1,643 | +1.1% |
| Trade debts | 44 | €73,573 | €2,156 | -€71,417 | -97.1% |
| Suppliers | 440/4 | €73,573 | €2,156 | -€71,417 | -97.1% |
| Advances received on contracts in progress | 46 | €14,219 | €17,546 | +€3,328 | +23.4% |
| Taxes, remuneration and social security | 45 | €35,377 | €14,328 | -€21,049 | -59.5% |
| Taxes | 450/3 | €35,377 | €14,328 | -€21,049 | -59.5% |
| Other amounts payable | 47/48 | €10,105 | €33,333 | +€23,228 | +229.9% |
| Accrued charges and deferred income | 492/3 | €21,555 | €6,381 | -€15,174 | -70.4% |
| Non-recurring operating income | 76A | €1,498 | €3,816,926 | +€3.8m | +254754.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €196,626 | €158,980 | -€37,645 | -19.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,800 | €2,850 | -€950 | -25.0% |
| Other operating charges | 640/8 | €46,749 | €36,646 | -€10,103 | -21.6% |
| Gross operating margin | 9900 | €452,479 | €4,057,143 | +€3.6m | +796.6% |
| Operating profit (loss) | 9901 | €205,304 | €3,858,666 | +€3.7m | +1779.5% |
| Financial income | 75/76B | €3,812 | €27,087 | +€23,275 | +610.5% |
| Recurring financial income | 75 | €3,812 | €27,087 | +€23,275 | +610.5% |
| Financial charges | 65/66B | €52,111 | €42,384 | -€9,727 | -18.7% |
| Recurring financial charges | 65 | €52,111 | €42,384 | -€9,727 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €157,005 | €3,843,369 | +€3.7m | +2347.9% |
| Transfer from deferred taxes | 780 | €6,521 | €9,340 | +€2,818 | +43.2% |
| Transfer to deferred taxes | 680 | - | €938,092 | +€938,092 | |
| Income taxes | 67/77 | €47,362 | €33,440 | -€13,922 | -29.4% |
| Profit (loss) for the period | 9904 | €116,164 | €2,881,176 | +€2.8m | +2380.3% |
| Transfer from tax-exempt reserves | 789 | €19,564 | €28,019 | +€8,454 | +43.2% |
| Transfer to tax-exempt reserves | 689 | - | €2,814,276 | +€2.8m | |
| Profit (loss) for the period to be appropriated | 9905 | €135,728 | €94,919 | -€40,809 | -30.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.