NIKAE: 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.
NIKAE
Largest movements
- Cash +€33,088
up €33,088 (+53.8%), from €61,528 to €94,616
mainly Net result for the year (+€58,061) and Depreciation (+€36,143)
- Tangible fixed assets -€4,245
down €4,245 (-2.5%), from €170,237 to €165,992
of which Plant, machinery and equipment: -€23,205
- Deferred charges and accrued income -€3,359
down €3,359 (-87.6%), from €3,834 to €475
- Receivables within one year +€3,055
up €3,055 (+17.4%), from €17,556 to €20,611
of which Trade receivables: +€5,024
- Reserves +€58,061
up €58,061 (+60.8%), from €95,535 to €153,596
- Debts after one year -€29,795
down €29,795 (-45.2%), from €65,898 to €36,103
- Trade debts +€16,207
up €16,207 (+166.6%), from €9,728 to €25,935
- Accrued charges and deferred income -€6,153
down €6,153 (-78.5%), from €7,836 to €1,682
- Tax, wage and social debts -€3,903
down €3,903 (-15.4%), from €25,320 to €21,417
of which Remuneration and social security: -€2,524
- Gross operating margin +€40,527
up €40,527 (+19.9%), from €203,883 to €244,410
- Staff costs -€20,763
down €20,763 (-16.6%), from €125,297 to €104,534
- Taxes +€19,655
up €19,655 (+134.3%), from €14,634 to €34,290
- Depreciation +€3,238
up €3,238 (+9.8%), from €32,905 to €36,143
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €262,169 | €293,200 | +€31,031 | +11.8% |
| Fixed assets | 21/28 | €170,437 | €166,192 | -€4,245 | -2.5% |
| Tangible fixed assets | 22/27 | €170,237 | €165,992 | -€4,245 | -2.5% |
| Land and buildings | 22 | €49,181 | €79,652 | +€30,472 | +62.0% |
| Plant, machinery and equipment | 23 | €51,900 | €28,695 | -€23,205 | -44.7% |
| Furniture and vehicles | 24 | €28,045 | €26,385 | -€1,659 | -5.9% |
| Leasing and similar rights | 25 | €41,112 | €31,259 | -€9,853 | -24.0% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €91,732 | €127,009 | +€35,276 | +38.5% |
| Stocks and contracts in progress | 3 | €8,815 | €11,307 | +€2,492 | +28.3% |
| Stocks | 30/36 | €8,815 | €11,307 | +€2,492 | +28.3% |
| Amounts receivable within one year | 40/41 | €17,556 | €20,611 | +€3,055 | +17.4% |
| Trade receivables | 40 | €80 | €5,104 | +€5,024 | +6280.3% |
| Other amounts receivable | 41 | €17,476 | €15,507 | -€1,969 | -11.3% |
| Cash at bank and in hand | 54/58 | €61,528 | €94,616 | +€33,088 | +53.8% |
| Deferred charges and accrued income | 490/1 | €3,834 | €475 | -€3,359 | -87.6% |
| Total equity and liabilities | 10/49 | €262,169 | €293,200 | +€31,031 | +11.8% |
| Equity | 10/15 | €114,127 | €172,188 | +€58,061 | +50.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €95,535 | €153,596 | +€58,061 | +60.8% |
| Distributable reserves | 133 | €95,535 | €153,596 | +€58,061 | +60.8% |
| Amounts payable | 17/49 | €148,042 | €121,012 | -€27,030 | -18.3% |
| Amounts payable after more than one year | 17 | €65,898 | €36,103 | -€29,795 | -45.2% |
| Financial debts | 170/4 | €65,898 | €36,103 | -€29,795 | -45.2% |
| Amounts payable within one year | 42/48 | €74,309 | €83,227 | +€8,918 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €28,419 | €29,795 | +€1,375 | +4.8% |
| Trade debts | 44 | €9,728 | €25,935 | +€16,207 | +166.6% |
| Suppliers | 440/4 | €9,728 | €25,935 | +€16,207 | +166.6% |
| Advances received on contracts in progress | 46 | €5,906 | €3,710 | -€2,196 | -37.2% |
| Taxes, remuneration and social security | 45 | €25,320 | €21,417 | -€3,903 | -15.4% |
| Taxes | 450/3 | €17,569 | €16,190 | -€1,379 | -7.8% |
| Remuneration and social security | 454/9 | €7,751 | €5,226 | -€2,524 | -32.6% |
| Other amounts payable | 47/48 | €4,935 | €2,370 | -€2,565 | -52.0% |
| Accrued charges and deferred income | 492/3 | €7,836 | €1,682 | -€6,153 | -78.5% |
| Remuneration, social security and pensions | 62 | €125,297 | €104,534 | -€20,763 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,905 | €36,143 | +€3,238 | +9.8% |
| Other operating charges | 640/8 | €7,408 | €7,534 | +€126 | +1.7% |
| Gross operating margin | 9900 | €203,883 | €244,410 | +€40,527 | +19.9% |
| Operating profit (loss) | 9901 | €38,273 | €96,199 | +€57,926 | +151.3% |
| Financial income | 75/76B | €23 | €289 | +€266 | +1154.5% |
| Recurring financial income | 75 | €23 | €289 | +€266 | +1154.5% |
| Financial charges | 65/66B | €5,333 | €4,137 | -€1,195 | -22.4% |
| Recurring financial charges | 65 | €5,333 | €4,137 | -€1,195 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €32,964 | €92,351 | +€59,387 | +180.2% |
| Income taxes | 67/77 | €14,634 | €34,290 | +€19,655 | +134.3% |
| Profit (loss) for the period | 9904 | €18,329 | €58,061 | +€39,732 | +216.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,329 | €58,061 | +€39,732 | +216.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.