Ninas: 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.
Ninas
Largest movements
- Tangible fixed assets +€30,237
up €30,237 (+13.0%), from €232,656 to €262,893
of which Furniture and vehicles: +€30,881
- Stocks and contracts +€17,903
up €17,903 (+161.9%), from €11,058 to €28,961
- Cash -€15,717
down €15,717 (-8.4%), from €186,213 to €170,496
mainly Investment in fixed assets (net) (-€35,456) and Stocks and contracts (-€17,903)
- Receivables within one year -€7,285
down €7,285 (-23.0%), from €31,645 to €24,360
of which Trade receivables: -€6,010
- Reserves +€17,775
up €17,775 (+8.3%), from €213,252 to €231,027
- Tax, wage and social debts +€11,762
up €11,762 (+111.9%), from €10,511 to €22,273
- Other debts -€7,043
down €7,043 (-3.8%), from €184,211 to €177,168
- Gross operating margin -€12,785
down €12,785 (-21.5%), from €59,512 to €46,728
- Financial charges -€2,267
down €2,267 (-15.3%), from €14,859 to €12,593
- Depreciation +€1,217
up €1,217 (+30.4%), from €4,001 to €5,218
- Taxes +€865
up €865 (+10.9%), from €7,960 to €8,825
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 | €461,672 | €488,408 | +€26,736 | +5.8% |
| Fixed assets | 21/28 | €232,756 | €262,993 | +€30,237 | +13.0% |
| Tangible fixed assets | 22/27 | €232,656 | €262,893 | +€30,237 | +13.0% |
| Land and buildings | 22 | €232,656 | €230,989 | -€1,667 | -0.7% |
| Plant, machinery and equipment | 23 | - | €1,023 | +€1,023 | |
| Furniture and vehicles | 24 | - | €30,881 | +€30,881 | |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €228,916 | €225,415 | -€3,501 | -1.5% |
| Stocks and contracts in progress | 3 | €11,058 | €28,961 | +€17,903 | +161.9% |
| Stocks | 30/36 | €11,058 | €28,961 | +€17,903 | +161.9% |
| Amounts receivable within one year | 40/41 | €31,645 | €24,360 | -€7,285 | -23.0% |
| Trade receivables | 40 | €30,352 | €24,343 | -€6,010 | -19.8% |
| Other amounts receivable | 41 | €1,292 | €18 | -€1,275 | -98.6% |
| Cash at bank and in hand | 54/58 | €186,213 | €170,496 | -€15,717 | -8.4% |
| Deferred charges and accrued income | 490/1 | - | €1,597 | +€1,597 | |
| Total equity and liabilities | 10/49 | €461,672 | €488,408 | +€26,736 | +5.8% |
| Equity | 10/15 | €246,717 | €264,492 | +€17,775 | +7.2% |
| Contributions | 10/11 | €33,466 | €33,466 | = | 0.0% |
| Reserves | 13 | €213,252 | €231,027 | +€17,775 | +8.3% |
| Distributable reserves | 133 | €213,252 | €231,027 | +€17,775 | +8.3% |
| Amounts payable | 17/49 | €214,954 | €223,915 | +€8,961 | +4.2% |
| Amounts payable within one year | 42/48 | €214,954 | €223,915 | +€8,961 | +4.2% |
| Trade debts | 44 | €20,233 | €24,474 | +€4,242 | +21.0% |
| Suppliers | 440/4 | €20,233 | €24,474 | +€4,242 | +21.0% |
| Taxes, remuneration and social security | 45 | €10,511 | €22,273 | +€11,762 | +111.9% |
| Taxes | 450/3 | €10,511 | €22,273 | +€11,762 | +111.9% |
| Other amounts payable | 47/48 | €184,211 | €177,168 | -€7,043 | -3.8% |
| Non-recurring operating income | 76A | - | €9,811 | +€9,811 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,001 | €5,218 | +€1,217 | +30.4% |
| Other operating charges | 640/8 | €2,079 | €2,318 | +€239 | +11.5% |
| Non-recurring operating charges | 66A | €19,065 | - | -€19,065 | |
| Gross operating margin | 9900 | €59,512 | €46,728 | -€12,785 | -21.5% |
| Operating profit (loss) | 9901 | €34,367 | €39,191 | +€4,824 | +14.0% |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €14,859 | €12,593 | -€2,267 | -15.3% |
| Recurring financial charges | 65 | €14,859 | €12,593 | -€2,267 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €19,507 | €26,600 | +€7,093 | +36.4% |
| Income taxes | 67/77 | €7,960 | €8,825 | +€865 | +10.9% |
| Profit (loss) for the period | 9904 | €11,548 | €17,775 | +€6,228 | +53.9% |
| Profit (loss) for the period to be appropriated | 9905 | €11,548 | €17,775 | +€6,228 | +53.9% |
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 11 October 2026 via checked.be.