NINANE: 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.
NINANE
Largest movements
- Tangible fixed assets +€221,771
up €221,771 (+14.8%), from €1.5m to €1.7m
of which Land and buildings: +€319,156
- Receivables within one year -€133,854
down €133,854 (-52.2%), from €256,665 to €122,811
of which Trade receivables: -€140,550
- Debts after one year +€129,473
up €129,473 (+23.7%), from €547,123 to €676,596
- Trade debts -€91,291
down €91,291 (-54.9%), from €166,376 to €75,085
- Investment grants +€39,569
new in 2025: €39,569
- Reserves +€25,000
up €25,000 (+19.7%), from €127,000 to €152,000
of which Distributable reserves: +€25,000
- Gross operating margin -€82,980
down €82,980 (-12.9%), from €642,175 to €559,195
- Depreciation +€46,768
up €46,768 (+20.2%), from €231,214 to €277,982
- Taxes -€42,775
down €42,775 (-93.0%), from €45,983 to €3,208
- Staff costs +€17,257
up €17,257 (+9.4%), from €183,804 to €201,061
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 | €1,922,642 | €2,027,022 | +€104,380 | +5.4% |
| Fixed assets | 21/28 | €1,500,052 | €1,721,853 | +€221,801 | +14.8% |
| Intangible fixed assets | 21 | €1,370 | €1,400 | +€30 | +2.2% |
| Tangible fixed assets | 22/27 | €1,497,723 | €1,719,494 | +€221,771 | +14.8% |
| Land and buildings | 22 | €921,350 | €1,240,506 | +€319,156 | +34.6% |
| Plant, machinery and equipment | 23 | €310,228 | €240,572 | -€69,656 | -22.5% |
| Furniture and vehicles | 24 | €234,667 | €174,334 | -€60,333 | -25.7% |
| Other tangible fixed assets | 26 | €31,478 | €64,082 | +€32,604 | +104% |
| Financial fixed assets | 28 | €959 | €959 | +€0 | 0.0% |
| Current assets | 29/58 | €422,590 | €305,169 | -€117,421 | -27.8% |
| Amounts receivable within one year | 40/41 | €256,665 | €122,811 | -€133,854 | -52.2% |
| Trade receivables | 40 | €243,132 | €102,582 | -€140,550 | -57.8% |
| Other amounts receivable | 41 | €13,533 | €20,229 | +€6,696 | +49.5% |
| Cash at bank and in hand | 54/58 | €161,918 | €167,716 | +€5,798 | +3.6% |
| Deferred charges and accrued income | 490/1 | €4,007 | €14,642 | +€10,635 | +265% |
| Total equity and liabilities | 10/49 | €1,922,642 | €2,027,022 | +€104,380 | +5.4% |
| Equity | 10/15 | €763,127 | €838,395 | +€75,268 | +9.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €127,000 | €152,000 | +€25,000 | +19.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €125,000 | €150,000 | +€25,000 | +20.0% |
| Profit (loss) carried forward | 14 | €616,127 | €626,826 | +€10,699 | +1.7% |
| Investment grants | 15 | - | €39,569 | +€39,569 | |
| Amounts payable | 17/49 | €1,159,515 | €1,188,627 | +€29,112 | +2.5% |
| Amounts payable after more than one year | 17 | €547,123 | €676,596 | +€129,473 | +23.7% |
| Financial debts | 170/4 | €547,123 | €676,596 | +€129,473 | +23.7% |
| Amounts payable within one year | 42/48 | €612,392 | €512,031 | -€100,361 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €95,631 | €101,712 | +€6,081 | +6.4% |
| Trade debts | 44 | €166,376 | €75,085 | -€91,291 | -54.9% |
| Suppliers | 440/4 | €166,376 | €75,085 | -€91,291 | -54.9% |
| Advances received on contracts in progress | 46 | €8,530 | - | -€8,530 | |
| Taxes, remuneration and social security | 45 | €15,386 | €19,273 | +€3,887 | +25.3% |
| Taxes | 450/3 | €15,386 | €16,197 | +€811 | +5.3% |
| Remuneration and social security | 454/9 | - | €3,076 | +€3,076 | |
| Other amounts payable | 47/48 | €326,469 | €315,961 | -€10,508 | -3.2% |
| Remuneration, social security and pensions | 62 | €183,804 | €201,061 | +€17,257 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231,214 | €277,982 | +€46,768 | +20.2% |
| Other operating charges | 640/8 | €10,769 | €16,409 | +€5,640 | +52.4% |
| Gross operating margin | 9900 | €642,175 | €559,195 | -€82,980 | -12.9% |
| Operating profit (loss) | 9901 | €216,388 | €63,743 | -€152,645 | -70.5% |
| Financial income | 75/76B | - | €4,466 | +€4,466 | |
| Recurring financial income | 75 | - | €4,466 | +€4,466 | |
| Financial charges | 65/66B | €25,419 | €29,301 | +€3,882 | +15.3% |
| Recurring financial charges | 65 | €25,419 | €29,301 | +€3,882 | +15.3% |
| Profit (loss) for the period before taxes | 9903 | €190,969 | €38,907 | -€152,062 | -79.6% |
| Income taxes | 67/77 | €45,983 | €3,208 | -€42,775 | -93.0% |
| Profit (loss) for the period | 9904 | €144,986 | €35,699 | -€109,287 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €144,986 | €35,699 | -€109,287 | -75.4% |
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 14 October 2026 via checked.be.