NIKKEL: 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.
NIKKEL
Largest movements
- Cash +€28,044
up €28,044 (+168.9%), from €16,604 to €44,648
mainly Net result for the year (+€44,875) and Tax, wage and social debts (+€20,861)
- Deferred charges and accrued income +€21,574
up €21,574 (+777.3%), from €2,776 to €24,350
- Receivables within one year +€8,840
up €8,840 (+17.4%), from €50,675 to €59,515
of which Other amounts receivable: +€9,556
- Tangible fixed assets +€5,951
up €5,951 (+33.2%), from €17,935 to €23,886
of which Plant, machinery and equipment: +€4,413
- Intangible fixed assets +€2,327
new in 2025: €2,327
- Reserves +€44,875
up €44,875 (+62.4%), from €71,859 to €116,734
of which Distributable reserves: +€44,875
- Tax, wage and social debts +€20,861
up €20,861 (+1006.2%), from €2,073 to €22,934
- Gross operating margin +€60,381
up €60,381 (+412.2%), from €14,647 to €75,028
- Taxes +€17,281
up €17,281 (+651.2%), from €2,654 to €19,935
- Depreciation +€2,208
up €2,208 (+31.1%), from €7,093 to €9,301
- Other operating charges +€1,088
up €1,088 (+111.4%), from €977 to €2,065
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 | €88,029 | €154,940 | +€66,911 | +76.0% |
| Fixed assets | 21/28 | €17,974 | €26,427 | +€8,452 | +47.0% |
| Intangible fixed assets | 21 | - | €2,327 | +€2,327 | |
| Tangible fixed assets | 22/27 | €17,935 | €23,886 | +€5,951 | +33.2% |
| Plant, machinery and equipment | 23 | €6,533 | €10,945 | +€4,413 | +67.5% |
| Furniture and vehicles | 24 | €11,403 | €12,941 | +€1,538 | +13.5% |
| Financial fixed assets | 28 | €39 | €214 | +€175 | +447.0% |
| Current assets | 29/58 | €70,055 | €128,513 | +€58,459 | +83.4% |
| Amounts receivable within one year | 40/41 | €50,675 | €59,515 | +€8,840 | +17.4% |
| Trade receivables | 40 | €9,658 | €8,942 | -€716 | -7.4% |
| Other amounts receivable | 41 | €41,018 | €50,573 | +€9,556 | +23.3% |
| Cash at bank and in hand | 54/58 | €16,604 | €44,648 | +€28,044 | +168.9% |
| Deferred charges and accrued income | 490/1 | €2,776 | €24,350 | +€21,574 | +777.3% |
| Total equity and liabilities | 10/49 | €88,029 | €154,940 | +€66,911 | +76.0% |
| Equity | 10/15 | €84,624 | €129,499 | +€44,875 | +53.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €71,859 | €116,734 | +€44,875 | +62.4% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €114,875 | +€44,875 | +64.1% |
| Profit (loss) carried forward | 14 | -€5,827 | -€5,827 | = | 0.0% |
| Amounts payable | 17/49 | €3,405 | €25,442 | +€22,036 | +647.1% |
| Amounts payable within one year | 42/48 | €3,405 | €25,442 | +€22,036 | +647.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €48 | €0 | -€48 | -100.0% |
| Credit institutions | 430/8 | €48 | €0 | -€48 | -100.0% |
| Trade debts | 44 | €1,284 | €2,507 | +€1,223 | +95.3% |
| Suppliers | 440/4 | €1,284 | €2,507 | +€1,223 | +95.3% |
| Taxes, remuneration and social security | 45 | €2,073 | €22,934 | +€20,861 | +1006.2% |
| Taxes | 450/3 | €2,073 | €22,934 | +€20,861 | +1006.2% |
| Non-recurring operating income | 76A | €92 | €0 | -€92 | -100.0% |
| Remuneration, social security and pensions | 62 | €94 | €95 | +€1 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,093 | €9,301 | +€2,208 | +31.1% |
| Other operating charges | 640/8 | €977 | €2,065 | +€1,088 | +111.4% |
| Non-recurring operating charges | 66A | €819 | €0 | -€819 | -100.0% |
| Gross operating margin | 9900 | €14,647 | €75,028 | +€60,381 | +412.2% |
| Operating profit (loss) | 9901 | €5,665 | €63,568 | +€57,903 | +1022.2% |
| Financial income | 75/76B | €1,697 | €2,367 | +€670 | +39.5% |
| Recurring financial income | 75 | €1,697 | €2,367 | +€670 | +39.5% |
| Financial charges | 65/66B | €683 | €1,125 | +€442 | +64.7% |
| Recurring financial charges | 65 | €683 | €1,125 | +€442 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €6,679 | €64,810 | +€58,131 | +870.4% |
| Income taxes | 67/77 | €2,654 | €19,935 | +€17,281 | +651.2% |
| Profit (loss) for the period | 9904 | €4,025 | €44,875 | +€40,850 | +1015.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,025 | €44,875 | +€40,850 | +1015.0% |
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 10 October 2026 via checked.be.