NIPACO: 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.
NIPACO
Largest movements
- Cash +€334,136
up €334,136 (+112%), from €299,422 to €633,558
mainly Current investments (+€150,000) and Stocks and contracts (+€127,300)
- Current investments -€150,000
no longer reported in 2024 (was €150,000)
- Stocks and contracts -€127,300
down €127,300 (-71.6%), from €177,871 to €50,571
- Tangible fixed assets -€25,543
down €25,543 (-8.3%), from €309,264 to €283,721
of which Land and buildings: -€16,916
- Profit (loss) carried forward +€32,343
no longer reported in 2024 (was -€32,343)
- Taxes -€127,468
down €127,468 (-92.4%), from €137,968 to €10,500
- Turnover -€98,821
down €98,821 (-15.0%), from €657,214 to €558,393
- Purchases and services -€67,207
down €67,207 (-13.7%), from €491,592 to €424,385
- Financial charges +€34,326
up €34,326 (+3,598%), from €954 to €35,280
- Gross operating margin -€31,613
down €31,613 (-19.1%), from €165,623 to €134,010
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,916,273 | €1,959,644 | +€43,371 | +2.3% |
| Fixed assets | 21/28 | €321,665 | €296,122 | -€25,543 | -7.9% |
| Tangible fixed assets | 22/27 | €309,264 | €283,721 | -€25,543 | -8.3% |
| Land and buildings | 22 | €276,324 | €259,408 | -€16,916 | -6.1% |
| Plant, machinery and equipment | 23 | €2,940 | €2,113 | -€827 | -28.1% |
| Furniture and vehicles | 24 | €30,000 | €22,200 | -€7,800 | -26.0% |
| Financial fixed assets | 28 | €12,401 | €12,401 | = | 0.0% |
| Current assets | 29/58 | €1,594,608 | €1,663,522 | +€68,914 | +4.3% |
| Stocks and contracts in progress | 3 | €177,871 | €50,571 | -€127,300 | -71.6% |
| Stocks | 30/36 | €177,871 | €50,571 | -€127,300 | -71.6% |
| Amounts receivable within one year | 40/41 | €967,315 | €979,393 | +€12,078 | +1.2% |
| Trade receivables | 40 | €173,501 | €148,091 | -€25,410 | -14.6% |
| Other amounts receivable | 41 | €793,814 | €831,302 | +€37,488 | +4.7% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €299,422 | €633,558 | +€334,136 | +112% |
| Total equity and liabilities | 10/49 | €1,916,273 | €1,959,644 | +€43,371 | +2.3% |
| Equity | 10/15 | €1,907,926 | €1,948,651 | +€40,725 | +2.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,921,677 | €1,930,059 | +€8,382 | +0.4% |
| Distributable reserves | 133 | €1,921,677 | €1,930,059 | +€8,382 | +0.4% |
| Profit (loss) carried forward | 14 | -€32,343 | - | +€32,343 | |
| Amounts payable | 17/49 | €8,347 | €10,993 | +€2,646 | +31.7% |
| Amounts payable within one year | 42/48 | €8,347 | €10,993 | +€2,646 | +31.7% |
| Trade debts | 44 | €4,531 | €6,879 | +€2,348 | +51.8% |
| Suppliers | 440/4 | €4,531 | €6,879 | +€2,348 | +51.8% |
| Taxes, remuneration and social security | 45 | €3,569 | €4,114 | +€545 | +15.3% |
| Taxes | 450/3 | €500 | €1,000 | +€500 | +100% |
| Remuneration and social security | 454/9 | €3,069 | €3,114 | +€45 | +1.5% |
| Other amounts payable | 47/48 | €247 | - | -€247 | |
| Turnover | 70 | €657,214 | €558,393 | -€98,821 | -15.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €491,592 | €424,385 | -€67,207 | -13.7% |
| Remuneration, social security and pensions | 62 | €25,999 | €25,403 | -€596 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,793 | €25,543 | -€1,250 | -4.7% |
| Other operating charges | 640/8 | €2,196 | €714 | -€1,482 | -67.5% |
| Gross operating margin | 9900 | €165,623 | €134,010 | -€31,613 | -19.1% |
| Operating profit (loss) | 9901 | €110,635 | €82,350 | -€28,285 | -25.6% |
| Financial income | 75/76B | €944 | €4,155 | +€3,211 | +340% |
| Recurring financial income | 75 | €944 | €4,155 | +€3,211 | +340% |
| Financial charges | 65/66B | €954 | €35,280 | +€34,326 | +3,598% |
| Recurring financial charges | 65 | €954 | €35,280 | +€34,326 | +3,598% |
| Profit (loss) for the period before taxes | 9903 | €110,625 | €51,225 | -€59,400 | -53.7% |
| Income taxes | 67/77 | €137,968 | €10,500 | -€127,468 | -92.4% |
| Profit (loss) for the period | 9904 | -€27,343 | €40,725 | +€68,068 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,343 | €40,725 | +€68,068 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.