NIKOLAAS: 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.
NIKOLAAS
Largest movements
- Cash -€263,804
down €263,804 (-81.5%), from €323,805 to €60,001
mainly Current investments (-€150,000) and Net result for the year (-€91,073)
- Current investments +€150,000
new in 2025: €150,000
- Receivables within one year +€25,144
new in 2025: €25,144
- Profit (loss) carried forward -€91,073
down €91,073 (-91.6%), from €99,412 to €8,340
- Gross operating margin -€209,285
down €209,285, from €134,009 to -€75,276
- Taxes -€29,282
no longer reported in 2025 (was €29,282)
- Financial income -€10,103
down €10,103 (-95.5%), from €10,584 to €482
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 | €505,477 | €413,281 | -€92,196 | -18.2% |
| Fixed assets | 21/28 | €177,862 | €174,293 | -€3,570 | -2.0% |
| Tangible fixed assets | 22/27 | €177,862 | €174,293 | -€3,570 | -2.0% |
| Land and buildings | 22 | €177,862 | €174,293 | -€3,570 | -2.0% |
| Current assets | 29/58 | €327,615 | €238,989 | -€88,627 | -27.1% |
| Amounts receivable within one year | 40/41 | - | €25,144 | +€25,144 | |
| Other amounts receivable | 41 | - | €25,144 | +€25,144 | |
| Current investments | 50/53 | - | €150,000 | +€150,000 | |
| Cash at bank and in hand | 54/58 | €323,805 | €60,001 | -€263,804 | -81.5% |
| Deferred charges and accrued income | 490/1 | €3,811 | €3,843 | +€33 | +0.9% |
| Total equity and liabilities | 10/49 | €505,477 | €413,281 | -€92,196 | -18.2% |
| Equity | 10/15 | €486,656 | €395,583 | -€91,073 | -18.7% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €247,243 | €247,243 | = | 0.0% |
| Distributable reserves | 133 | €247,243 | €247,243 | = | 0.0% |
| Profit (loss) carried forward | 14 | €99,412 | €8,340 | -€91,073 | -91.6% |
| Amounts payable | 17/49 | €18,822 | €17,698 | -€1,124 | -6.0% |
| Amounts payable within one year | 42/48 | €18,822 | €17,698 | -€1,124 | -6.0% |
| Trade debts | 44 | €4,967 | €3,843 | -€1,124 | -22.6% |
| Suppliers | 440/4 | €4,967 | €3,843 | -€1,124 | -22.6% |
| Taxes, remuneration and social security | 45 | €11,107 | €11,107 | = | 0.0% |
| Taxes | 450/3 | €11,107 | €11,107 | = | 0.0% |
| Other amounts payable | 47/48 | €2,748 | €2,748 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,570 | €3,570 | = | 0.0% |
| Other operating charges | 640/8 | €12,174 | €12,555 | +€381 | +3.1% |
| Gross operating margin | 9900 | €134,009 | -€75,276 | -€209,285 | |
| Operating profit (loss) | 9901 | €118,265 | -€91,401 | -€209,666 | |
| Financial income | 75/76B | €10,584 | €482 | -€10,103 | -95.5% |
| Recurring financial income | 75 | €10,584 | €482 | -€10,103 | -95.5% |
| Financial charges | 65/66B | €156 | €153 | -€2 | -1.5% |
| Recurring financial charges | 65 | €156 | €153 | -€2 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €128,694 | -€91,073 | -€219,766 | |
| Income taxes | 67/77 | €29,282 | - | -€29,282 | |
| Profit (loss) for the period | 9904 | €99,412 | -€91,073 | -€190,485 | |
| Profit (loss) for the period to be appropriated | 9905 | €99,412 | -€91,073 | -€190,485 |
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 4 October 2026 via checked.be.