Nikkl: 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.
Nikkl
Largest movements
- Tangible fixed assets +€235,183
up €235,183 (+41.5%), from €566,605 to €801,788
of which Land and buildings: +€221,768
- Receivables within one year -€34,650
down €34,650 (-47.6%), from €72,756 to €38,106
of which Other amounts receivable: -€20,000
- Current investments +€29,000
new in 2025: €29,000
- Cash +€20,116
up €20,116 (+31.2%), from €64,541 to €84,657
mainly Net result for the year (+€144,293) and Debts after one year (+€59,075)
- Reserves +€144,293
up €144,293 (+61.5%), from €234,544 to €378,836
of which Distributable reserves: +€144,293
- Debts after one year +€59,075
up €59,075 (+31.6%), from €186,702 to €245,777
- Other debts +€19,166
up €19,166 (+31.2%), from €61,353 to €80,518
- Current portion of long-term debt +€19,110
up €19,110 (+85.7%), from €22,294 to €41,404
- Gross operating margin +€84,734
up €84,734 (+66.2%), from €127,942 to €212,676
- Taxes +€9,103
up €9,103 (+32.1%), from €28,387 to €37,489
- Depreciation +€5,118
up €5,118 (+27.7%), from €18,450 to €23,567
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 | €711,591 | €962,067 | +€250,477 | +35.2% |
| Fixed assets | 21/28 | €573,605 | €808,788 | +€235,183 | +41.0% |
| Tangible fixed assets | 22/27 | €566,605 | €801,788 | +€235,183 | +41.5% |
| Land and buildings | 22 | €547,167 | €768,935 | +€221,768 | +40.5% |
| Furniture and vehicles | 24 | €19,438 | €32,853 | +€13,415 | +69.0% |
| Financial fixed assets | 28 | €7,000 | €7,000 | = | 0.0% |
| Current assets | 29/58 | €137,985 | €153,280 | +€15,294 | +11.1% |
| Amounts receivable within one year | 40/41 | €72,756 | €38,106 | -€34,650 | -47.6% |
| Trade receivables | 40 | €47,475 | €32,825 | -€14,650 | -30.9% |
| Other amounts receivable | 41 | €25,281 | €5,281 | -€20,000 | -79.1% |
| Current investments | 50/53 | - | €29,000 | +€29,000 | |
| Cash at bank and in hand | 54/58 | €64,541 | €84,657 | +€20,116 | +31.2% |
| Deferred charges and accrued income | 490/1 | €689 | €1,517 | +€828 | +120% |
| Total equity and liabilities | 10/49 | €711,591 | €962,067 | +€250,477 | +35.2% |
| Equity | 10/15 | €409,475 | €553,767 | +€144,293 | +35.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €234,544 | €378,836 | +€144,293 | +61.5% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €234,444 | €378,736 | +€144,293 | +61.5% |
| Profit (loss) carried forward | 14 | €173,931 | €173,931 | = | 0.0% |
| Amounts payable | 17/49 | €302,116 | €408,300 | +€106,184 | +35.1% |
| Amounts payable after more than one year | 17 | €186,702 | €245,777 | +€59,075 | +31.6% |
| Financial debts | 170/4 | €186,702 | €245,777 | +€59,075 | +31.6% |
| Amounts payable within one year | 42/48 | €115,414 | €162,523 | +€47,110 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €22,294 | €41,404 | +€19,110 | +85.7% |
| Trade debts | 44 | €651 | €4,214 | +€3,563 | +548% |
| Suppliers | 440/4 | €651 | €4,214 | +€3,563 | +548% |
| Taxes, remuneration and social security | 45 | €31,117 | €36,387 | +€5,270 | +16.9% |
| Taxes | 450/3 | €28,071 | €36,189 | +€8,118 | +28.9% |
| Remuneration and social security | 454/9 | €3,046 | €198 | -€2,847 | -93.5% |
| Other amounts payable | 47/48 | €61,353 | €80,518 | +€19,166 | +31.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,450 | €23,567 | +€5,118 | +27.7% |
| Other operating charges | 640/8 | €3,095 | €2,501 | -€594 | -19.2% |
| Gross operating margin | 9900 | €127,942 | €212,676 | +€84,734 | +66.2% |
| Operating profit (loss) | 9901 | €106,397 | €186,608 | +€80,211 | +75.4% |
| Financial charges | 65/66B | €3,885 | €4,826 | +€941 | +24.2% |
| Recurring financial charges | 65 | €3,885 | €4,826 | +€941 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €102,512 | €181,782 | +€79,270 | +77.3% |
| Income taxes | 67/77 | €28,387 | €37,489 | +€9,103 | +32.1% |
| Profit (loss) for the period | 9904 | €74,126 | €144,293 | +€70,167 | +94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €74,126 | €144,293 | +€70,167 | +94.7% |
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 20 October 2026 via checked.be.