NINA S: 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.
NINA S
Largest movements
- Stocks and contracts -€236,023
no longer reported in 2025 (was €236,023)
- Tangible fixed assets -€13,028
no longer reported in 2025 (was €13,028)
of which Other tangible fixed assets: -€12,793
- Cash -€9,242
down €9,242 (-53.2%), from €17,365 to €8,123
mainly Net result for the year (-€129,269) and Debts after one year (-€79,000)
- Profit (loss) carried forward -€129,269
down €129,269 (-600%), from -€21,536 to -€150,805
- Debts after one year -€79,000
down €79,000 (-40.3%), from €196,000 to €117,000
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Tax, wage and social debts -€19,091
down €19,091 (-99.9%), from €19,119 to €28
of which Taxes: -€10,884
- Trade debts -€3,583
no longer reported in 2025 (was €3,583)
- Gross operating margin -€135,715
down €135,715, from €32,384 to -€103,332
- Staff costs -€24,479
down €24,479 (-69.4%), from €35,285 to €10,806
- Depreciation -€8,382
no longer reported in 2025 (was €8,382)
- Financial income -€5,701
down €5,701 (-98.9%), from €5,762 to €61
- Financial charges -€2,357
down €2,357 (-60.0%), from €3,931 to €1,574
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 | €266,561 | €8,411 | -€258,150 | -96.8% |
| Fixed assets | 21/28 | €13,158 | €130 | -€13,028 | -99.0% |
| Tangible fixed assets | 22/27 | €13,028 | - | -€13,028 | |
| Furniture and vehicles | 24 | €235 | - | -€235 | |
| Other tangible fixed assets | 26 | €12,793 | - | -€12,793 | |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €253,403 | €8,281 | -€245,122 | -96.7% |
| Stocks and contracts in progress | 3 | €236,023 | - | -€236,023 | |
| Stocks | 30/36 | €236,023 | - | -€236,023 | |
| Amounts receivable within one year | 40/41 | €15 | €158 | +€143 | +948% |
| Other amounts receivable | 41 | €15 | €158 | +€143 | +948% |
| Cash at bank and in hand | 54/58 | €17,365 | €8,123 | -€9,242 | -53.2% |
| Total equity and liabilities | 10/49 | €266,561 | €8,411 | -€258,150 | -96.8% |
| Equity | 10/15 | €18,728 | -€110,541 | -€129,269 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €264 | €264 | = | 0.0% |
| Non-distributable reserves | 130/1 | €264 | €264 | = | 0.0% |
| Reserves not available under the articles | 1311 | €264 | €264 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,536 | -€150,805 | -€129,269 | -600% |
| Amounts payable | 17/49 | €247,833 | €118,952 | -€128,881 | -52.0% |
| Amounts payable after more than one year | 17 | €196,000 | €117,000 | -€79,000 | -40.3% |
| Other amounts payable | 178/9 | €196,000 | €117,000 | -€79,000 | -40.3% |
| Amounts payable within one year | 42/48 | €51,416 | €1,939 | -€49,476 | -96.2% |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Credit institutions | 430/8 | €25,000 | - | -€25,000 | |
| Trade debts | 44 | €3,583 | - | -€3,583 | |
| Suppliers | 440/4 | €3,583 | - | -€3,583 | |
| Taxes, remuneration and social security | 45 | €19,119 | €28 | -€19,091 | -99.9% |
| Taxes | 450/3 | €10,912 | €28 | -€10,884 | -99.7% |
| Remuneration and social security | 454/9 | €8,207 | - | -€8,207 | |
| Other amounts payable | 47/48 | €3,714 | €1,911 | -€1,802 | -48.5% |
| Accrued charges and deferred income | 492/3 | €417 | €13 | -€404 | -96.9% |
| Remuneration, social security and pensions | 62 | €35,285 | €10,806 | -€24,479 | -69.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,382 | - | -€8,382 | |
| Other operating charges | 640/8 | €1,346 | €590 | -€756 | -56.2% |
| Non-recurring operating charges | 66A | - | €13,028 | +€13,028 | |
| Gross operating margin | 9900 | €32,384 | -€103,332 | -€135,715 | |
| Operating profit (loss) | 9901 | -€12,630 | -€127,756 | -€115,126 | -912% |
| Financial income | 75/76B | €5,762 | €61 | -€5,701 | -98.9% |
| Recurring financial income | 75 | €5,762 | €61 | -€5,701 | -98.9% |
| Financial charges | 65/66B | €3,931 | €1,574 | -€2,357 | -60.0% |
| Recurring financial charges | 65 | €3,931 | €1,574 | -€2,357 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,799 | -€129,269 | -€118,470 | -1,097% |
| Profit (loss) for the period | 9904 | -€10,799 | -€129,269 | -€118,470 | -1,097% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,799 | -€129,269 | -€118,470 | -1,097% |
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 18 October 2026 via checked.be.