NINANOUK: 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.
NINANOUK
Largest movements
- Tangible fixed assets +€43,258
up €43,258 (+20.8%), from €207,574 to €250,832
of which Other tangible fixed assets: +€46,499
- Current investments -€20,000
down €20,000 (-37.5%), from €53,335 to €33,335
- Cash -€12,710
down €12,710 (-12.5%), from €101,512 to €88,802
mainly Investment in fixed assets (net) (-€56,819) and Contributions, distributions and other (-€34,252)
- Reserves +€33,488
up €33,488 (+10.7%), from €313,504 to €346,992
- Other debts -€20,879
down €20,879 (-68.9%), from €30,313 to €9,434
- Taxes +€5,084
up €5,084 (+23.3%), from €21,806 to €26,891
- Gross operating margin +€4,521
up €4,521 (+4.4%), from €103,321 to €107,842
- Depreciation +€3,428
up €3,428 (+33.8%), from €10,134 to €13,562
- Financial charges -€3,358
down €3,358 (-91.7%), from €3,663 to €305
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 | €380,827 | €391,985 | +€11,159 | +2.9% |
| Fixed assets | 21/28 | €207,574 | €250,832 | +€43,258 | +20.8% |
| Tangible fixed assets | 22/27 | €207,574 | €250,832 | +€43,258 | +20.8% |
| Land and buildings | 22 | €17,451 | €16,211 | -€1,240 | -7.1% |
| Plant, machinery and equipment | 23 | - | €2,782 | +€2,782 | |
| Furniture and vehicles | 24 | €8,641 | €3,858 | -€4,783 | -55.4% |
| Other tangible fixed assets | 26 | €181,482 | €227,981 | +€46,499 | +25.6% |
| Current assets | 29/58 | €173,252 | €141,153 | -€32,099 | -18.5% |
| Amounts receivable within one year | 40/41 | €16,554 | €13,810 | -€2,744 | -16.6% |
| Trade receivables | 40 | €13,219 | €13,110 | -€109 | -0.8% |
| Other amounts receivable | 41 | €3,335 | €700 | -€2,635 | -79.0% |
| Current investments | 50/53 | €53,335 | €33,335 | -€20,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €101,512 | €88,802 | -€12,710 | -12.5% |
| Deferred charges and accrued income | 490/1 | €1,852 | €5,206 | +€3,354 | +181% |
| Total equity and liabilities | 10/49 | €380,827 | €391,985 | +€11,159 | +2.9% |
| Equity | 10/15 | €319,704 | €353,192 | +€33,488 | +10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €313,504 | €346,992 | +€33,488 | +10.7% |
| Distributable reserves | 133 | €313,504 | €346,992 | +€33,488 | +10.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,123 | €38,793 | -€22,330 | -36.5% |
| Amounts payable within one year | 42/48 | €57,602 | €38,329 | -€19,273 | -33.5% |
| Trade debts | 44 | €637 | €1,530 | +€893 | +140% |
| Suppliers | 440/4 | €637 | €1,530 | +€893 | +140% |
| Taxes, remuneration and social security | 45 | €26,653 | €27,365 | +€712 | +2.7% |
| Taxes | 450/3 | €21,098 | €21,756 | +€658 | +3.1% |
| Remuneration and social security | 454/9 | €5,554 | €5,609 | +€54 | +1.0% |
| Other amounts payable | 47/48 | €30,313 | €9,434 | -€20,879 | -68.9% |
| Accrued charges and deferred income | 492/3 | €3,521 | €464 | -€3,056 | -86.8% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,134 | €13,562 | +€3,428 | +33.8% |
| Other operating charges | 640/8 | €915 | €472 | -€443 | -48.4% |
| Non-recurring operating charges | 66A | €23 | - | -€23 | |
| Gross operating margin | 9900 | €103,321 | €107,842 | +€4,521 | +4.4% |
| Operating profit (loss) | 9901 | €92,248 | €93,808 | +€1,560 | +1.7% |
| Financial income | 75/76B | €1,122 | €1,127 | +€6 | +0.5% |
| Recurring financial income | 75 | €1,122 | €1,127 | +€6 | +0.5% |
| Financial charges | 65/66B | €3,663 | €305 | -€3,358 | -91.7% |
| Recurring financial charges | 65 | €3,663 | €305 | -€3,358 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | €89,707 | €94,631 | +€4,924 | +5.5% |
| Income taxes | 67/77 | €21,806 | €26,891 | +€5,084 | +23.3% |
| Profit (loss) for the period | 9904 | €67,900 | €67,740 | -€160 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €67,900 | €67,740 | -€160 | -0.2% |
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.