NINANE LEX: 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.
NINANE LEX
Largest movements
- Intangible fixed assets -€13,929
down €13,929 (-20.0%), from €69,816 to €55,887
- Receivables within one year -€4,295
down €4,295 (-59.5%), from €7,212 to €2,917
- Cash +€1,587
up €1,587 (+490.0%), from €324 to €1,910
mainly Depreciation (+€14,800) and Tax, wage and social debts (+€10,786)
- Other debts -€22,096
down €22,096 (-38.1%), from €57,928 to €35,831
- Tax, wage and social debts +€10,786
up €10,786 (+90.0%), from €11,979 to €22,765
- Debts after one year -€7,496
down €7,496 (-10.4%), from €72,087 to €64,591
- Trade debts +€5,328
up €5,328 (+766.6%), from €695 to €6,023
- Profit (loss) carried forward -€3,265
down €3,265 (-4.6%), from -€71,592 to -€74,857
- Gross operating margin +€32,293
up €32,293, from -€14,288 to €18,005
- Financial charges +€849
up €849 (+16.3%), from €5,224 to €6,073
- Other operating charges +€220
new in 2025: €220
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 | €80,853 | €64,459 | -€16,394 | -20.3% |
| Fixed assets | 21/28 | €72,262 | €58,734 | -€13,527 | -18.7% |
| Intangible fixed assets | 21 | €69,816 | €55,887 | -€13,929 | -20.0% |
| Tangible fixed assets | 22/27 | €2,446 | €2,847 | +€401 | +16.4% |
| Furniture and vehicles | 24 | €2,446 | €2,847 | +€401 | +16.4% |
| Current assets | 29/58 | €8,591 | €5,724 | -€2,867 | -33.4% |
| Amounts receivable within one year | 40/41 | €7,212 | €2,917 | -€4,295 | -59.5% |
| Trade receivables | 40 | €7,212 | €2,917 | -€4,295 | -59.5% |
| Cash at bank and in hand | 54/58 | €324 | €1,910 | +€1,587 | +490.0% |
| Deferred charges and accrued income | 490/1 | €1,056 | €897 | -€159 | -15.1% |
| Total equity and liabilities | 10/49 | €80,853 | €64,459 | -€16,394 | -20.3% |
| Equity | 10/15 | -€69,592 | -€72,857 | -€3,265 | -4.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€71,592 | -€74,857 | -€3,265 | -4.6% |
| Amounts payable | 17/49 | €150,445 | €137,316 | -€13,129 | -8.7% |
| Amounts payable after more than one year | 17 | €72,087 | €64,591 | -€7,496 | -10.4% |
| Financial debts | 170/4 | €72,087 | €64,591 | -€7,496 | -10.4% |
| Amounts payable within one year | 42/48 | €78,358 | €72,725 | -€5,633 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €7,756 | €8,106 | +€350 | +4.5% |
| Trade debts | 44 | €695 | €6,023 | +€5,328 | +766.6% |
| Suppliers | 440/4 | €695 | €6,023 | +€5,328 | +766.6% |
| Taxes, remuneration and social security | 45 | €11,979 | €22,765 | +€10,786 | +90.0% |
| Taxes | 450/3 | €11,979 | €22,765 | +€10,786 | +90.0% |
| Other amounts payable | 47/48 | €57,928 | €35,831 | -€22,096 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,665 | €14,800 | +€135 | +0.9% |
| Other operating charges | 640/8 | - | €220 | +€220 | |
| Gross operating margin | 9900 | -€14,288 | €18,005 | +€32,293 | |
| Operating profit (loss) | 9901 | -€28,954 | €2,984 | +€31,938 | |
| Financial charges | 65/66B | €5,224 | €6,073 | +€849 | +16.3% |
| Recurring financial charges | 65 | €5,224 | €6,073 | +€849 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | -€34,177 | -€3,088 | +€31,089 | +91.0% |
| Income taxes | 67/77 | €165 | €177 | +€12 | +7.3% |
| Profit (loss) for the period | 9904 | -€34,342 | -€3,265 | +€31,077 | +90.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,342 | -€3,265 | +€31,077 | +90.5% |
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 7 October 2026 via checked.be.