NIKKI WEST: 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.
NIKKI WEST
Largest movements
- Receivables within one year -€15,662
down €15,662 (-36.5%), from €42,908 to €27,247
of which Trade receivables: -€10,711
- Cash -€10,154
down €10,154 (-21.4%), from €47,553 to €37,399
mainly Contributions, distributions and other (-€47,059) and Tax, wage and social debts (-€1,240)
- Tangible fixed assets -€1,265
down €1,265 (-19.2%), from €6,596 to €5,331
of which Other tangible fixed assets: -€635
- Profit (loss) carried forward -€26,475
down €26,475 (-29.8%), from €88,760 to €62,285
- Tax, wage and social debts -€1,240
no longer reported in 2025 (was €1,240)
- Gross operating margin -€15,324
down €15,324 (-36.0%), from €42,613 to €27,289
- Taxes -€2,908
down €2,908 (-34.7%), from €8,385 to €5,477
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 | €98,471 | €70,525 | -€27,946 | -28.4% |
| Fixed assets | 21/28 | €6,596 | €5,331 | -€1,265 | -19.2% |
| Tangible fixed assets | 22/27 | €6,596 | €5,331 | -€1,265 | -19.2% |
| Furniture and vehicles | 24 | €1,130 | €499 | -€631 | -55.8% |
| Other tangible fixed assets | 26 | €5,466 | €4,831 | -€635 | -11.6% |
| Current assets | 29/58 | €91,875 | €65,195 | -€26,680 | -29.0% |
| Amounts receivable within one year | 40/41 | €42,908 | €27,247 | -€15,662 | -36.5% |
| Trade receivables | 40 | €10,711 | - | -€10,711 | |
| Other amounts receivable | 41 | €32,197 | €27,247 | -€4,951 | -15.4% |
| Cash at bank and in hand | 54/58 | €47,553 | €37,399 | -€10,154 | -21.4% |
| Deferred charges and accrued income | 490/1 | €1,413 | €549 | -€864 | -61.1% |
| Total equity and liabilities | 10/49 | €98,471 | €70,525 | -€27,946 | -28.4% |
| Equity | 10/15 | €93,760 | €67,285 | -€26,475 | -28.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €88,760 | €62,285 | -€26,475 | -29.8% |
| Amounts payable | 17/49 | €4,711 | €3,241 | -€1,470 | -31.2% |
| Amounts payable within one year | 42/48 | €4,711 | €3,241 | -€1,470 | -31.2% |
| Current portion of amounts payable after more than one year | 42 | €2,535 | €3,026 | +€491 | +19.3% |
| Financial debts | 43 | €347 | €182 | -€164 | -47.4% |
| Credit institutions | 430/8 | €347 | €182 | -€164 | -47.4% |
| Trade debts | 44 | €589 | €32 | -€556 | -94.5% |
| Suppliers | 440/4 | €589 | €32 | -€556 | -94.5% |
| Taxes, remuneration and social security | 45 | €1,240 | - | -€1,240 | |
| Taxes | 450/3 | €1,240 | - | -€1,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,565 | €1,265 | -€300 | -19.1% |
| Other operating charges | 640/8 | €1,612 | €1,355 | -€256 | -15.9% |
| Gross operating margin | 9900 | €42,613 | €27,289 | -€15,324 | -36.0% |
| Operating profit (loss) | 9901 | €39,437 | €24,669 | -€14,768 | -37.4% |
| Financial income | 75/76B | €1,781 | €1,648 | -€132 | -7.4% |
| Recurring financial income | 75 | €1,781 | €1,648 | -€132 | -7.4% |
| Financial charges | 65/66B | €358 | €257 | -€102 | -28.4% |
| Recurring financial charges | 65 | €358 | €257 | -€102 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | €40,859 | €26,060 | -€14,798 | -36.2% |
| Income taxes | 67/77 | €8,385 | €5,477 | -€2,908 | -34.7% |
| Profit (loss) for the period | 9904 | €32,474 | €20,583 | -€11,890 | -36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,474 | €20,583 | -€11,890 | -36.6% |
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 21 October 2026 via checked.be.