NIPACO INTERNATIONAL: what changed
What changed
NIPACO INTERNATIONAL
filed annual accounts (NBB)
Net result for the year
€21,608
2024 · €48,666-€27,058
Equity
€852,120
2024 · €830,512+€21,608
Cash
€502,668
2024 · €537,735-€35,067
Balance sheet total
€2.9m
2024 · €2.9m+€74,719
Largest movements
Assets
- Tangible fixed assets +€110,274
up €110,274 (+4.8%), from €2.3m to €2.4m
of which Land and buildings: +€100,470
- Cash -€35,067
down €35,067 (-6.5%), from €537,735 to €502,668
mainly Investment in fixed assets (net) (-€161,791) and Debts after one year (-€14,765)
Equity and liabilities
- Other debts +€67,576
up €67,576 (+4.0%), from €1.7m to €1.8m
Income statement
- Purchases and services +€41,706
up €41,706 (+95.0%), from €43,878 to €85,584
- Gross operating margin -€39,102
down €39,102 (-30.2%), from €129,522 to €90,420
- Taxes -€14,985
down €14,985, from €13,218 to -€1,767
- Financial income -€2,913
down €2,913 (-31.0%), from €9,394 to €6,481
- Turnover +€2,873
up €2,873 (+1.7%), from €173,401 to €176,274
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€48,666
Gross operating margin
-€39,102
Depreciation
-€39
Other operating charges
+€581
Financial income
-€2,913
Financial charges
-€570
Taxes
+€14,985
Result 2025
€21,608
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€135,864
Investment
-€161,791
Financing
-€9,140
Cash 2024
€537,735
From operations (derived)
+€135,864
Net result for the year
+€21,608
Depreciation
+€51,517
Receivables within one year
+€4,500
Deferred charges and accrued income
-€4,012
Trade debts
-€2,818
Tax, wage and social debts
-€2,507
Other debts
+€67,576
Investment (derived)
-€161,791
Investment in fixed assets (net)
-€161,791
Financing
-€9,140
Debts after one year
-€14,765
Current portion of long-term debt
+€5,625
Cash 2025
€502,668
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,853,536 | €2,928,255 | +€74,719 | +2.6% |
| Fixed assets | 21/28 | €2,283,476 | €2,393,750 | +€110,274 | +4.8% |
| Tangible fixed assets | 22/27 | €2,283,476 | €2,393,750 | +€110,274 | +4.8% |
| Land and buildings | 22 | €2,243,700 | €2,344,170 | +€100,470 | +4.5% |
| Furniture and vehicles | 24 | €39,776 | €49,580 | +€9,804 | +24.6% |
| Current assets | 29/58 | €570,060 | €534,505 | -€35,555 | -6.2% |
| Amounts receivable within one year | 40/41 | €32,325 | €27,825 | -€4,500 | -13.9% |
| Other amounts receivable | 41 | €32,325 | €27,825 | -€4,500 | -13.9% |
| Cash at bank and in hand | 54/58 | €537,735 | €502,668 | -€35,067 | -6.5% |
| Deferred charges and accrued income | 490/1 | - | €4,012 | +€4,012 | |
| Total equity and liabilities | 10/49 | €2,853,536 | €2,928,255 | +€74,719 | +2.6% |
| Equity | 10/15 | €830,512 | €852,120 | +€21,608 | +2.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €768,512 | €790,120 | +€21,608 | +2.8% |
| Distributable reserves | 133 | €768,512 | €790,120 | +€21,608 | +2.8% |
| Amounts payable | 17/49 | €2,023,024 | €2,076,135 | +€53,111 | +2.6% |
| Amounts payable after more than one year | 17 | €253,921 | €239,156 | -€14,765 | -5.8% |
| Financial debts | 170/4 | €127,888 | €133,573 | +€5,685 | +4.4% |
| Trade debts | 175 | €126,033 | €105,583 | -€20,450 | -16.2% |
| Amounts payable within one year | 42/48 | €1,769,103 | €1,836,979 | +€67,876 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €53,660 | €59,285 | +€5,625 | +10.5% |
| Trade debts | 44 | €16,749 | €13,931 | -€2,818 | -16.8% |
| Suppliers | 440/4 | €16,749 | €13,931 | -€2,818 | -16.8% |
| Taxes, remuneration and social security | 45 | €2,507 | - | -€2,507 | |
| Taxes | 450/3 | €2,507 | - | -€2,507 | |
| Other amounts payable | 47/48 | €1,696,187 | €1,763,763 | +€67,576 | +4.0% |
| Turnover | 70 | €173,401 | €176,274 | +€2,873 | +1.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €43,878 | €85,584 | +€41,706 | +95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,478 | €51,517 | +€39 | +0.1% |
| Other operating charges | 640/8 | €18,153 | €17,572 | -€581 | -3.2% |
| Gross operating margin | 9900 | €129,522 | €90,420 | -€39,102 | -30.2% |
| Operating profit (loss) | 9901 | €59,891 | €21,331 | -€38,560 | -64.4% |
| Financial income | 75/76B | €9,394 | €6,481 | -€2,913 | -31.0% |
| Recurring financial income | 75 | €9,394 | €6,481 | -€2,913 | -31.0% |
| Financial charges | 65/66B | €7,401 | €7,971 | +€570 | +7.7% |
| Recurring financial charges | 65 | €7,401 | €7,971 | +€570 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €61,884 | €19,841 | -€42,043 | -67.9% |
| Income taxes | 67/77 | €13,218 | -€1,767 | -€14,985 | |
| Profit (loss) for the period | 9904 | €48,666 | €21,608 | -€27,058 | -55.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,666 | €21,608 | -€27,058 | -55.6% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.