NINX: 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.
What changed
NINX
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5,543
2024 · -€54,434+€59,976
Equity
-€1.7m
2024 · -€1.7m+€5,543
Cash
€33,297
2024 · €8,984+€24,314
Balance sheet total
€2.5m
2024 · €2.7m-€175,441
Largest movements
Assets
- Tangible fixed assets -€185,596
down €185,596 (-8.0%), from €2.3m to €2.1m
of which Land and buildings: -€172,313
Equity and liabilities
- Debts after one year -€143,800
down €143,800 (-3.7%), from €3.8m to €3.7m
of which Financial debts: -€143,800
Income statement
- Gross operating margin +€33,028
up €33,028 (+12.1%), from €272,200 to €305,228
- Financial charges -€12,528
down €12,528 (-16.7%), from €75,189 to €62,662
of which Financial charges: -€12,528
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.
Result 2024
-€54,434
Gross operating margin
+€33,028
Depreciation
+€2,671
Other operating charges
-€1,773
Other operating items
+€13,268
Financial income
+€192
Financial charges
+€12,528
Taxes
+€64
Result 2025
€5,543
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€188,960
Investment
-€14,149
Financing
-€150,497
Cash 2024
€8,984
From operations (derived)
+€188,960
Net result for the year
+€5,543
Depreciation
+€199,745
Receivables within one year
+€12,148
Deferred charges and accrued income
+€2,011
Provisions
-€1,828
Trade debts
-€11,043
Tax, wage and social debts
-€16,973
Other debts
-€642
Investment (derived)
-€14,149
Investment in fixed assets (net)
-€14,149
Financing
-€150,497
Debts after one year
-€143,800
Current portion of long-term debt
-€6,698
Cash 2025
€33,297
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,668,955 | €2,493,514 | -€175,441 | -6.6% |
| Fixed assets | 21/28 | €2,306,570 | €2,120,974 | -€185,596 | -8.0% |
| Tangible fixed assets | 22/27 | €2,306,570 | €2,120,974 | -€185,596 | -8.0% |
| Land and buildings | 22 | €2,256,640 | €2,084,327 | -€172,313 | -7.6% |
| Furniture and vehicles | 24 | €46,220 | €32,937 | -€13,283 | -28.7% |
| Other tangible fixed assets | 26 | €3,710 | €3,710 | = | 0.0% |
| Current assets | 29/58 | €362,385 | €372,540 | +€10,155 | +2.8% |
| Amounts receivable within one year | 40/41 | €335,749 | €323,601 | -€12,148 | -3.6% |
| Trade receivables | 40 | €53,907 | €29,703 | -€24,205 | -44.9% |
| Other amounts receivable | 41 | €281,842 | €293,899 | +€12,057 | +4.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €8,984 | €33,297 | +€24,314 | +271% |
| Deferred charges and accrued income | 490/1 | €17,652 | €15,641 | -€2,011 | -11.4% |
| Total equity and liabilities | 10/49 | €2,668,955 | €2,493,514 | -€175,441 | -6.6% |
| Equity | 10/15 | -€1,741,877 | -€1,736,334 | +€5,543 | +0.3% |
| Contributions | 10/11 | €1,823,800 | €1,823,800 | = | 0.0% |
| Reserves | 13 | €85,343 | €78,031 | -€7,312 | -8.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €83,343 | €76,031 | -€7,312 | -8.8% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,651,020 | -€3,638,165 | +€12,855 | +0.4% |
| Provisions and deferred taxes | 16 | €16,148 | €14,320 | -€1,828 | -11.3% |
| Deferred taxes | 168 | €16,148 | €14,320 | -€1,828 | -11.3% |
| Amounts payable | 17/49 | €4,394,684 | €4,215,528 | -€179,156 | -4.1% |
| Amounts payable after more than one year | 17 | €3,836,407 | €3,692,607 | -€143,800 | -3.7% |
| Financial debts | 170/4 | €3,256,407 | €3,112,607 | -€143,800 | -4.4% |
| Other amounts payable | 178/9 | €580,000 | €580,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €558,276 | €522,920 | -€35,356 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €147,667 | €140,970 | -€6,698 | -4.5% |
| Trade debts | 44 | €21,590 | €10,547 | -€11,043 | -51.2% |
| Suppliers | 440/4 | €21,590 | €10,547 | -€11,043 | -51.2% |
| Taxes, remuneration and social security | 45 | €104,939 | €87,966 | -€16,973 | -16.2% |
| Taxes | 450/3 | €7,164 | €5,590 | -€1,573 | -22.0% |
| Remuneration and social security | 454/9 | €97,776 | €82,376 | -€15,400 | -15.8% |
| Other amounts payable | 47/48 | €284,080 | €283,439 | -€642 | -0.2% |
| Non-recurring operating income | 76A | €7 | €0 | -€7 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €202,416 | €199,745 | -€2,671 | -1.3% |
| Other operating charges | 640/8 | €37,226 | €38,999 | +€1,773 | +4.8% |
| Non-recurring operating charges | 66A | €13,268 | €0 | -€13,268 | -100% |
| Gross operating margin | 9900 | €272,200 | €305,228 | +€33,028 | +12.1% |
| Operating profit (loss) | 9901 | €19,291 | €66,484 | +€47,193 | +245% |
| Financial income | 75/76B | €5 | €197 | +€192 | +3,515% |
| Recurring financial income | 75 | €5 | €197 | +€192 | +3,515% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €75,189 | €62,662 | -€12,528 | -16.7% |
| Recurring financial charges | 65 | €75,189 | €62,662 | -€12,528 | -16.7% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€55,893 | €4,019 | +€59,913 | |
| Transfer from deferred taxes | 780 | €1,828 | €1,828 | = | 0.0% |
| Income taxes | 67/77 | €368 | €305 | -€64 | -17.3% |
| Profit (loss) for the period | 9904 | -€54,434 | €5,543 | +€59,976 | |
| Transfer from tax-exempt reserves | 789 | €7,312 | €7,312 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,121 | €12,855 | +€59,976 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.