NIPCO: 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.
NIPCO
Largest movements
- Cash +€10,140
up €10,140 (+3.4%), from €294,527 to €304,666
mainly Net result for the year (+€5,440) and Receivables within one year (+€4,898)
- Receivables within one year -€4,898
down €4,898 (-41.0%), from €11,940 to €7,041
of which Other amounts receivable: -€7,447
- Profit (loss) carried forward +€5,440
up €5,440 (+35.7%), from €15,246 to €20,686
- Gross operating margin +€12,344
up €12,344, from -€7,605 to €4,739
- Financial income -€4,495
down €4,495 (-45.7%), from €9,830 to €5,336
- Staff costs -€4,354
down €4,354 (-100.0%), from €4,354 to €0
- Depreciation +€1,744
up €1,744 (+1787.2%), from €98 to €1,842
- Other operating charges +€1,086
up €1,086 (+197.9%), from €548 to €1,634
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 | €315,994 | €321,406 | +€5,412 | +1.7% |
| Fixed assets | 21/28 | €9,111 | €7,269 | -€1,842 | -20.2% |
| Tangible fixed assets | 22/27 | €9,111 | €7,269 | -€1,842 | -20.2% |
| Plant, machinery and equipment | 23 | €7,496 | €5,977 | -€1,519 | -20.3% |
| Furniture and vehicles | 24 | €1,615 | €1,292 | -€323 | -20.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €306,883 | €314,137 | +€7,254 | +2.4% |
| Amounts receivable within one year | 40/41 | €11,940 | €7,041 | -€4,898 | -41.0% |
| Trade receivables | 40 | €1,017 | €3,565 | +€2,549 | +250.6% |
| Other amounts receivable | 41 | €10,923 | €3,476 | -€7,447 | -68.2% |
| Current investments | 50/53 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €294,527 | €304,666 | +€10,140 | +3.4% |
| Deferred charges and accrued income | 490/1 | €414 | €2,426 | +€2,012 | +486.2% |
| Total equity and liabilities | 10/49 | €315,994 | €321,406 | +€5,412 | +1.7% |
| Equity | 10/15 | €309,332 | €314,772 | +€5,440 | +1.8% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Capital | 10 | €30,987 | €30,987 | = | 0.0% |
| Issued capital | 100 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €263,099 | €263,099 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €260,000 | €260,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,246 | €20,686 | +€5,440 | +35.7% |
| Amounts payable | 17/49 | €6,663 | €6,635 | -€28 | -0.4% |
| Amounts payable within one year | 42/48 | €6,609 | €6,635 | +€26 | +0.4% |
| Trade debts | 44 | €2,232 | €2,245 | +€13 | +0.6% |
| Suppliers | 440/4 | €2,232 | €2,245 | +€13 | +0.6% |
| Taxes, remuneration and social security | 45 | €0 | €12 | +€12 | |
| Taxes | 450/3 | €0 | €12 | +€12 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,377 | €4,377 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €54 | €0 | -€54 | -100.0% |
| Remuneration, social security and pensions | 62 | €4,354 | €0 | -€4,354 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98 | €1,842 | +€1,744 | +1787.2% |
| Other operating charges | 640/8 | €548 | €1,634 | +€1,086 | +197.9% |
| Gross operating margin | 9900 | -€7,605 | €4,739 | +€12,344 | |
| Operating profit (loss) | 9901 | -€12,605 | €1,263 | +€13,868 | |
| Financial income | 75/76B | €9,830 | €5,336 | -€4,495 | -45.7% |
| Recurring financial income | 75 | €9,830 | €5,336 | -€4,495 | -45.7% |
| Financial charges | 65/66B | €164 | €113 | -€51 | -31.1% |
| Recurring financial charges | 65 | €164 | €113 | -€51 | -31.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,939 | €6,486 | +€9,425 | |
| Income taxes | 67/77 | €0 | €1,046 | +€1,046 | |
| Profit (loss) for the period | 9904 | -€2,939 | €5,440 | +€8,379 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,939 | €5,440 | +€8,379 |
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 11 October 2026 via checked.be.