NINA: 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.
NINA
Largest movements
- Cash -€37,111
down €37,111 (-26.1%), from €142,436 to €105,325
mainly Contributions, distributions and other (-€149,727) and Trade debts (-€25,579)
- Receivables within one year +€21,613
up €21,613 (+32.5%), from €66,568 to €88,181
of which Other amounts receivable: +€26,535
- Tangible fixed assets -€21,366
down €21,366 (-79.4%), from €26,925 to €5,559
of which Furniture and vehicles: -€10,757
- Deferred charges and accrued income -€2,522
down €2,522 (-63.8%), from €3,954 to €1,432
- Profit (loss) carried forward -€158,582
down €158,582 (-86.5%), from €183,281 to €24,699
- Other debts +€149,727
new in 2025: €149,727
- Trade debts -€25,579
down €25,579 (-83.0%), from €30,806 to €5,227
- Tax, wage and social debts -€4,951
down €4,951 (-91.9%), from €5,390 to €439
of which Taxes: -€4,464
- Gross operating margin -€37,284
down €37,284, from €21,326 to -€15,958
- Financial income +€19,366
up €19,366 (+76454.7%), from €25 to €19,391
of which Non-recurring financial income: +€19,391
- Depreciation -€16,589
down €16,589 (-61.5%), from €26,994 to €10,405
- Other operating charges -€10,231
down €10,231 (-89.2%), from €11,466 to €1,235
- Staff costs -€6,806
down €6,806, from €6,806 to -€0
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 | €239,882 | €200,497 | -€39,386 | -16.4% |
| Fixed assets | 21/28 | €26,925 | €5,559 | -€21,366 | -79.4% |
| Tangible fixed assets | 22/27 | €26,925 | €5,559 | -€21,366 | -79.4% |
| Plant, machinery and equipment | 23 | €575 | - | -€575 | |
| Furniture and vehicles | 24 | €16,316 | €5,559 | -€10,757 | -65.9% |
| Other tangible fixed assets | 26 | €10,034 | - | -€10,034 | |
| Current assets | 29/58 | €212,958 | €194,938 | -€18,020 | -8.5% |
| Amounts receivable within one year | 40/41 | €66,568 | €88,181 | +€21,613 | +32.5% |
| Trade receivables | 40 | €11,756 | €6,834 | -€4,922 | -41.9% |
| Other amounts receivable | 41 | €54,812 | €81,346 | +€26,535 | +48.4% |
| Cash at bank and in hand | 54/58 | €142,436 | €105,325 | -€37,111 | -26.1% |
| Deferred charges and accrued income | 490/1 | €3,954 | €1,432 | -€2,522 | -63.8% |
| Total equity and liabilities | 10/49 | €239,882 | €200,497 | -€39,386 | -16.4% |
| Equity | 10/15 | €203,686 | €45,104 | -€158,582 | -77.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €183,281 | €24,699 | -€158,582 | -86.5% |
| Amounts payable | 17/49 | €36,196 | €155,393 | +€119,197 | +329.3% |
| Amounts payable within one year | 42/48 | €36,196 | €155,393 | +€119,197 | +329.3% |
| Trade debts | 44 | €30,806 | €5,227 | -€25,579 | -83.0% |
| Suppliers | 440/4 | €30,806 | €5,227 | -€25,579 | -83.0% |
| Taxes, remuneration and social security | 45 | €5,390 | €439 | -€4,951 | -91.9% |
| Taxes | 450/3 | €4,903 | €439 | -€4,464 | -91.0% |
| Remuneration and social security | 454/9 | €487 | - | -€487 | |
| Other amounts payable | 47/48 | - | €149,727 | +€149,727 | |
| Non-recurring operating income | 76A | €837 | €911 | +€74 | +8.8% |
| Remuneration, social security and pensions | 62 | €6,806 | -€0 | -€6,806 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,994 | €10,405 | -€16,589 | -61.5% |
| Other operating charges | 640/8 | €11,466 | €1,235 | -€10,231 | -89.2% |
| Non-recurring operating charges | 66A | - | €352 | +€352 | |
| Gross operating margin | 9900 | €21,326 | -€15,958 | -€37,284 | |
| Operating profit (loss) | 9901 | -€23,941 | -€27,949 | -€4,008 | -16.7% |
| Financial income | 75/76B | €25 | €19,391 | +€19,366 | +76454.7% |
| Recurring financial income | 75 | €25 | €0 | -€25 | -98.7% |
| Non-recurring financial income | 76B | - | €19,391 | +€19,391 | |
| Financial charges | 65/66B | €702 | €394 | -€307 | -43.8% |
| Recurring financial charges | 65 | €702 | €394 | -€307 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,617 | -€8,952 | +€15,665 | +63.6% |
| Income taxes | 67/77 | €63 | -€97 | -€160 | |
| Profit (loss) for the period | 9904 | -€24,681 | -€8,856 | +€15,825 | +64.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,681 | -€8,856 | +€15,825 | +64.1% |
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.