NINiVE CONSTRUCT: 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.
NINiVE CONSTRUCT
Largest movements
- Stocks and contracts -€362,499
down €362,499 (-91.7%), from €395,410 to €32,911
- Receivables within one year -€169,715
down €169,715 (-37.3%), from €454,845 to €285,129
- Tangible fixed assets -€13,249
down €13,249 (-5.6%), from €237,897 to €224,649
of which Land and buildings: -€13,041
- Trade debts -€183,318
down €183,318 (-87.7%), from €209,018 to €25,700
- Profit (loss) carried forward -€182,267
down €182,267 (-79.2%), from -€230,147 to -€412,413
- Current portion of long-term debt -€100,000
down €100,000 (-22.3%), from €448,444 to €348,444
- Other debts -€75,000
no longer reported in 2025 (was €75,000)
- Gross operating margin -€187,377
down €187,377, from €2,252 to -€185,125
- Financial income +€44,351
new in 2025: €44,351
- Taxes -€12,683
down €12,683 (-93.2%), from €13,614 to €931
- Financial charges -€9,943
down €9,943 (-29.8%), from €33,366 to €23,424
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 | €1,091,147 | €548,746 | -€542,401 | -49.7% |
| Fixed assets | 21/28 | €237,897 | €224,649 | -€13,249 | -5.6% |
| Tangible fixed assets | 22/27 | €237,897 | €224,649 | -€13,249 | -5.6% |
| Land and buildings | 22 | €235,824 | €222,783 | -€13,041 | -5.5% |
| Plant, machinery and equipment | 23 | €2,073 | €1,866 | -€208 | -10.0% |
| Current assets | 29/58 | €853,250 | €324,098 | -€529,152 | -62.0% |
| Stocks and contracts in progress | 3 | €395,410 | €32,911 | -€362,499 | -91.7% |
| Contracts in progress | 37 | €395,410 | €32,911 | -€362,499 | -91.7% |
| Amounts receivable within one year | 40/41 | €454,845 | €285,129 | -€169,715 | -37.3% |
| Other amounts receivable | 41 | €454,845 | €285,129 | -€169,715 | -37.3% |
| Cash at bank and in hand | 54/58 | €1,074 | €4,017 | +€2,943 | +274% |
| Deferred charges and accrued income | 490/1 | €1,921 | €2,040 | +€119 | +6.2% |
| Total equity and liabilities | 10/49 | €1,091,147 | €548,746 | -€542,401 | -49.7% |
| Equity | 10/15 | -€2,325 | -€184,592 | -€182,267 | -7,839% |
| Contributions | 10/11 | €32,101 | €32,101 | = | 0.0% |
| Reserves | 13 | €195,721 | €195,721 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,210 | €3,210 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,210 | €3,210 | = | 0.0% |
| Distributable reserves | 133 | €192,511 | €192,511 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€230,147 | -€412,413 | -€182,267 | -79.2% |
| Amounts payable | 17/49 | €1,093,472 | €733,338 | -€360,134 | -32.9% |
| Amounts payable after more than one year | 17 | €343,662 | €343,662 | = | 0.0% |
| Financial debts | 170/4 | €343,662 | €343,662 | = | 0.0% |
| Amounts payable within one year | 42/48 | €749,810 | €389,676 | -€360,134 | -48.0% |
| Current portion of amounts payable after more than one year | 42 | €448,444 | €348,444 | -€100,000 | -22.3% |
| Trade debts | 44 | €209,018 | €25,700 | -€183,318 | -87.7% |
| Suppliers | 440/4 | €209,018 | €25,700 | -€183,318 | -87.7% |
| Taxes, remuneration and social security | 45 | €17,348 | €15,532 | -€1,816 | -10.5% |
| Taxes | 450/3 | €17,348 | €15,532 | -€1,816 | -10.5% |
| Other amounts payable | 47/48 | €75,000 | - | -€75,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,889 | €13,508 | -€382 | -2.7% |
| Other operating charges | 640/8 | €2,740 | €3,631 | +€891 | +32.5% |
| Gross operating margin | 9900 | €2,252 | -€185,125 | -€187,377 | |
| Operating profit (loss) | 9901 | -€14,378 | -€202,263 | -€187,886 | -1,307% |
| Financial income | 75/76B | - | €44,351 | +€44,351 | |
| Recurring financial income | 75 | - | €44,351 | +€44,351 | |
| Financial charges | 65/66B | €33,366 | €23,424 | -€9,943 | -29.8% |
| Recurring financial charges | 65 | €33,366 | €23,424 | -€9,943 | -29.8% |
| Profit (loss) for the period before taxes | 9903 | -€47,744 | -€181,336 | -€133,592 | -280% |
| Income taxes | 67/77 | €13,614 | €931 | -€12,683 | -93.2% |
| Profit (loss) for the period | 9904 | -€61,358 | -€182,267 | -€120,908 | -197% |
| Profit (loss) for the period to be appropriated | 9905 | -€61,358 | -€182,267 | -€120,908 | -197% |
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.