NINAVH: 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.
NINAVH
Largest movements
- Tangible fixed assets -€22,877
down €22,877 (-7.2%), from €318,891 to €296,014
of which Furniture and vehicles: -€13,483
- Receivables within one year -€21,298
down €21,298 (-10.0%), from €212,494 to €191,196
- Cash -€8,221
down €8,221 (-8.7%), from €94,516 to €86,294
mainly Contributions, distributions and other (-€65,199) and Debts after one year (-€33,202)
- Debts after one year -€33,202
down €33,202 (-9.4%), from €352,615 to €319,413
- Other debts -€10,241
down €10,241 (-13.6%), from €75,440 to €65,199
- Tax, wage and social debts -€9,429
down €9,429 (-79.7%), from €11,829 to €2,400
- Turnover -€235,776
no longer reported in 2025 (was €235,776)
- Purchases and services -€115,679
no longer reported in 2025 (was €115,679)
- Gross operating margin -€13,432
down €13,432 (-10.7%), from €125,898 to €112,466
- Financial income +€2,947
up €2,947 (+34.3%), from €8,596 to €11,543
- Taxes -€2,512
down €2,512 (-12.8%), from €19,602 to €17,089
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 | €634,603 | €580,564 | -€54,039 | -8.5% |
| Fixed assets | 21/28 | €318,891 | €296,014 | -€22,877 | -7.2% |
| Tangible fixed assets | 22/27 | €318,891 | €296,014 | -€22,877 | -7.2% |
| Land and buildings | 22 | €286,460 | €277,066 | -€9,394 | -3.3% |
| Furniture and vehicles | 24 | €32,431 | €18,948 | -€13,483 | -41.6% |
| Current assets | 29/58 | €315,712 | €284,550 | -€31,163 | -9.9% |
| Amounts receivable within one year | 40/41 | €212,494 | €191,196 | -€21,298 | -10.0% |
| Other amounts receivable | 41 | €212,494 | €191,196 | -€21,298 | -10.0% |
| Cash at bank and in hand | 54/58 | €94,516 | €86,294 | -€8,221 | -8.7% |
| Deferred charges and accrued income | 490/1 | €8,703 | €7,060 | -€1,643 | -18.9% |
| Total equity and liabilities | 10/49 | €634,603 | €580,564 | -€54,039 | -8.5% |
| Equity | 10/15 | €159,655 | €159,655 | = | 0.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €156,655 | €156,655 | = | 0.0% |
| Distributable reserves | 133 | €156,655 | €156,655 | = | 0.0% |
| Amounts payable | 17/49 | €474,948 | €420,909 | -€54,039 | -11.4% |
| Amounts payable after more than one year | 17 | €352,615 | €319,413 | -€33,202 | -9.4% |
| Financial debts | 170/4 | €352,615 | €319,413 | -€33,202 | -9.4% |
| Amounts payable within one year | 42/48 | €121,660 | €100,802 | -€20,859 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €33,904 | €33,202 | -€701 | -2.1% |
| Trade debts | 44 | €487 | - | -€487 | |
| Suppliers | 440/4 | €487 | - | -€487 | |
| Taxes, remuneration and social security | 45 | €11,829 | €2,400 | -€9,429 | -79.7% |
| Taxes | 450/3 | €11,829 | €2,400 | -€9,429 | -79.7% |
| Other amounts payable | 47/48 | €75,440 | €65,199 | -€10,241 | -13.6% |
| Accrued charges and deferred income | 492/3 | €672 | €694 | +€22 | +3.2% |
| Turnover | 70 | €235,776 | - | -€235,776 | |
| Goods, raw materials, services and sundry goods | 60/61 | €115,679 | - | -€115,679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,204 | €24,257 | +€53 | +0.2% |
| Other operating charges | 640/8 | €1,717 | €1,647 | -€70 | -4.1% |
| Non-recurring operating charges | 66A | €96 | €314 | +€218 | +226.6% |
| Gross operating margin | 9900 | €125,898 | €112,466 | -€13,432 | -10.7% |
| Operating profit (loss) | 9901 | €99,880 | €86,248 | -€13,632 | -13.6% |
| Financial income | 75/76B | €8,596 | €11,543 | +€2,947 | +34.3% |
| Recurring financial income | 75 | €8,596 | €11,543 | +€2,947 | +34.3% |
| Financial charges | 65/66B | €13,435 | €15,502 | +€2,067 | +15.4% |
| Recurring financial charges | 65 | €13,435 | €15,502 | +€2,067 | +15.4% |
| Profit (loss) for the period before taxes | 9903 | €95,042 | €82,289 | -€12,753 | -13.4% |
| Income taxes | 67/77 | €19,602 | €17,089 | -€2,512 | -12.8% |
| Profit (loss) for the period | 9904 | €75,440 | €65,199 | -€10,241 | -13.6% |
| Profit (loss) for the period to be appropriated | 9905 | €75,440 | €65,199 | -€10,241 | -13.6% |
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 8 October 2026 via checked.be.