Nipea: 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.
Nipea
Largest movements
- Receivables within one year +€99,350
up €99,350 (+24.3%), from €409,045 to €508,395
of which Other amounts receivable: +€98,537
- Cash +€89,967
up €89,967 (+333.8%), from €26,952 to €116,918
mainly Net result for the year (+€208,757) and Trade debts (+€83,075)
- Receivables after one year +€19,584
up €19,584 (+5.8%), from €335,228 to €354,812
- Stocks and contracts +€13,269
up €13,269 (+99.9%), from €13,286 to €26,555
- Profit (loss) carried forward +€208,757
up €208,757 (+203.3%), from €102,671 to €311,428
- Trade debts +€83,075
up €83,075 (+79.2%), from €104,897 to €187,971
- Other debts -€36,258
down €36,258 (-76.3%), from €47,543 to €11,286
- Debts after one year -€20,000
down €20,000 (-10.6%), from €188,319 to €168,319
- Tax, wage and social debts -€12,737
down €12,737 (-3.6%), from €357,538 to €344,800
of which Remuneration and social security: -€125,945
- Gross operating margin +€72,696
up €72,696 (+9.5%), from €768,842 to €841,538
- Taxes +€38,837
up €38,837 (+97.6%), from €39,772 to €78,609
- Financial charges -€24,833
down €24,833 (-61.5%), from €40,347 to €15,514
- Other operating charges -€23,522
down €23,522 (-80.1%), from €29,374 to €5,852
- Staff costs -€17,568
down €17,568 (-3.2%), from €557,669 to €540,101
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 | €834,046 | €1,048,804 | +€214,759 | +25.7% |
| Fixed assets | 21/28 | €48,449 | €42,124 | -€6,325 | -13.1% |
| Intangible fixed assets | 21 | €13,414 | €12,490 | -€924 | -6.9% |
| Tangible fixed assets | 22/27 | €35,035 | €27,834 | -€7,201 | -20.6% |
| Plant, machinery and equipment | 23 | €7,870 | €6,000 | -€1,869 | -23.8% |
| Furniture and vehicles | 24 | €16,893 | €13,872 | -€3,021 | -17.9% |
| Other tangible fixed assets | 26 | €10,272 | €7,961 | -€2,311 | -22.5% |
| Financial fixed assets | 28 | - | €1,800 | +€1,800 | |
| Current assets | 29/58 | €785,597 | €1,006,680 | +€221,084 | +28.1% |
| Amounts receivable after more than one year | 29 | €335,228 | €354,812 | +€19,584 | +5.8% |
| Trade receivables | 290 | €335,228 | €354,812 | +€19,584 | +5.8% |
| Stocks and contracts in progress | 3 | €13,286 | €26,555 | +€13,269 | +99.9% |
| Stocks | 30/36 | €13,286 | €26,555 | +€13,269 | +99.9% |
| Amounts receivable within one year | 40/41 | €409,045 | €508,395 | +€99,350 | +24.3% |
| Trade receivables | 40 | €772 | €1,585 | +€813 | +105.4% |
| Other amounts receivable | 41 | €408,273 | €506,810 | +€98,537 | +24.1% |
| Cash at bank and in hand | 54/58 | €26,952 | €116,918 | +€89,967 | +333.8% |
| Deferred charges and accrued income | 490/1 | €1,086 | - | -€1,086 | |
| Total equity and liabilities | 10/49 | €834,046 | €1,048,804 | +€214,759 | +25.7% |
| Equity | 10/15 | €127,671 | €336,428 | +€208,757 | +163.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,671 | €311,428 | +€208,757 | +203.3% |
| Amounts payable | 17/49 | €706,374 | €712,376 | +€6,002 | +0.8% |
| Amounts payable after more than one year | 17 | €188,319 | €168,319 | -€20,000 | -10.6% |
| Financial debts | 170/4 | €188,319 | €168,319 | -€20,000 | -10.6% |
| Amounts payable within one year | 42/48 | €518,056 | €544,057 | +€26,002 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €8,078 | - | -€8,078 | |
| Trade debts | 44 | €104,897 | €187,971 | +€83,075 | +79.2% |
| Suppliers | 440/4 | €104,897 | €187,971 | +€83,075 | +79.2% |
| Taxes, remuneration and social security | 45 | €357,538 | €344,800 | -€12,737 | -3.6% |
| Taxes | 450/3 | €219,309 | €332,517 | +€113,208 | +51.6% |
| Remuneration and social security | 454/9 | €138,228 | €12,283 | -€125,945 | -91.1% |
| Other amounts payable | 47/48 | €47,543 | €11,286 | -€36,258 | -76.3% |
| Non-recurring operating income | 76A | €12,450 | - | -€12,450 | |
| Remuneration, social security and pensions | 62 | €557,669 | €540,101 | -€17,568 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,976 | €12,347 | +€3,371 | +37.6% |
| Other operating charges | 640/8 | €29,374 | €5,852 | -€23,522 | -80.1% |
| Gross operating margin | 9900 | €768,842 | €841,538 | +€72,696 | +9.5% |
| Operating profit (loss) | 9901 | €172,824 | €283,238 | +€110,415 | +63.9% |
| Financial income | 75/76B | €18,709 | €19,641 | +€933 | +5.0% |
| Recurring financial income | 75 | €18,709 | €19,641 | +€933 | +5.0% |
| Financial charges | 65/66B | €40,347 | €15,514 | -€24,833 | -61.5% |
| Recurring financial charges | 65 | €40,347 | €15,514 | -€24,833 | -61.5% |
| Profit (loss) for the period before taxes | 9903 | €151,185 | €287,366 | +€136,181 | +90.1% |
| Income taxes | 67/77 | €39,772 | €78,609 | +€38,837 | +97.6% |
| Profit (loss) for the period | 9904 | €111,413 | €208,757 | +€97,344 | +87.4% |
| Profit (loss) for the period to be appropriated | 9905 | €111,413 | €208,757 | +€97,344 | +87.4% |
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 4 October 2026 via checked.be.