NINTELS: 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.
NINTELS
Largest movements
- Cash -€14,151
down €14,151 (-81.5%), from €17,368 to €3,217
mainly Investment in fixed assets (net) (-€21,928) and Trade debts (-€14,255)
- Receivables within one year +€6,230
up €6,230 (+41.2%), from €15,109 to €21,339
of which Trade receivables: +€4,135
- Trade debts -€14,255
down €14,255 (-83.4%), from €17,102 to €2,846
- Debts after one year +€11,219
up €11,219 (+30.5%), from €36,818 to €48,037
- Profit (loss) carried forward -€11,176
down €11,176, from €8,047 to -€3,128
- Current portion of long-term debt +€9,643
up €9,643 (+84.4%), from €11,430 to €21,073
- Tax, wage and social debts -€1,929
down €1,929 (-29.7%), from €6,502 to €4,573
of which Taxes: -€3,829
- Gross operating margin -€22,377
down €22,377 (-54.9%), from €40,795 to €18,419
- Taxes -€4,340
down €4,340 (-95.7%), from €4,533 to €193
- Other operating charges +€2,198
up €2,198 (+119.1%), from €1,846 to €4,044
- Depreciation +€1,057
up €1,057 (+5.0%), from €21,244 to €22,301
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 | €107,304 | €100,344 | -€6,960 | -6.5% |
| Fixed assets | 21/28 | €74,520 | €74,147 | -€373 | -0.5% |
| Tangible fixed assets | 22/27 | €74,520 | €74,147 | -€373 | -0.5% |
| Land and buildings | 22 | €3,285 | €15,448 | +€12,162 | +370.2% |
| Plant, machinery and equipment | 23 | €12,273 | €6,375 | -€5,898 | -48.1% |
| Furniture and vehicles | 24 | €52,624 | €47,080 | -€5,545 | -10.5% |
| Other tangible fixed assets | 26 | €6,338 | €5,245 | -€1,093 | -17.2% |
| Current assets | 29/58 | €32,784 | €26,197 | -€6,587 | -20.1% |
| Stocks and contracts in progress | 3 | - | €300 | +€300 | |
| Stocks | 30/36 | - | €300 | +€300 | |
| Amounts receivable within one year | 40/41 | €15,109 | €21,339 | +€6,230 | +41.2% |
| Trade receivables | 40 | €14,381 | €18,516 | +€4,135 | +28.8% |
| Other amounts receivable | 41 | €728 | €2,823 | +€2,095 | +287.8% |
| Cash at bank and in hand | 54/58 | €17,368 | €3,217 | -€14,151 | -81.5% |
| Deferred charges and accrued income | 490/1 | €306 | €1,340 | +€1,034 | +337.7% |
| Total equity and liabilities | 10/49 | €107,304 | €100,344 | -€6,960 | -6.5% |
| Equity | 10/15 | €14,047 | €2,872 | -€11,176 | -79.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,047 | -€3,128 | -€11,176 | |
| Amounts payable | 17/49 | €93,256 | €97,472 | +€4,216 | +4.5% |
| Amounts payable after more than one year | 17 | €36,818 | €48,037 | +€11,219 | +30.5% |
| Financial debts | 170/4 | €36,818 | €48,037 | +€11,219 | +30.5% |
| Amounts payable within one year | 42/48 | €56,284 | €49,188 | -€7,096 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €11,430 | €21,073 | +€9,643 | +84.4% |
| Trade debts | 44 | €17,102 | €2,846 | -€14,255 | -83.4% |
| Suppliers | 440/4 | €17,102 | €2,846 | -€14,255 | -83.4% |
| Taxes, remuneration and social security | 45 | €6,502 | €4,573 | -€1,929 | -29.7% |
| Taxes | 450/3 | €6,502 | €2,673 | -€3,829 | -58.9% |
| Remuneration and social security | 454/9 | - | €1,900 | +€1,900 | |
| Other amounts payable | 47/48 | €21,250 | €20,696 | -€554 | -2.6% |
| Accrued charges and deferred income | 492/3 | €154 | €247 | +€92 | +59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,244 | €22,301 | +€1,057 | +5.0% |
| Other operating charges | 640/8 | €1,846 | €4,044 | +€2,198 | +119.1% |
| Gross operating margin | 9900 | €40,795 | €18,419 | -€22,377 | -54.9% |
| Operating profit (loss) | 9901 | €17,705 | -€7,926 | -€25,631 | |
| Financial income | 75/76B | €4 | €4 | -€0 | -6.5% |
| Recurring financial income | 75 | €4 | €4 | -€0 | -6.5% |
| Financial charges | 65/66B | €2,926 | €3,060 | +€134 | +4.6% |
| Recurring financial charges | 65 | €2,926 | €3,060 | +€134 | +4.6% |
| Profit (loss) for the period before taxes | 9903 | €14,783 | -€10,982 | -€25,765 | |
| Income taxes | 67/77 | €4,533 | €193 | -€4,340 | -95.7% |
| Profit (loss) for the period | 9904 | €10,250 | -€11,176 | -€21,425 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,250 | -€11,176 | -€21,425 |
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 6 October 2026 via checked.be.