Nippon: 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.
Nippon
Largest movements
- Receivables within one year -€17,699
down €17,699 (-26.6%), from €66,512 to €48,813
of which Other amounts receivable: -€10,567
- Deferred charges and accrued income +€4,194
up €4,194 (+19.2%), from €21,818 to €26,012
- Tangible fixed assets -€2,585
down €2,585 (-18.1%), from €14,244 to €11,659
of which Plant, machinery and equipment: -€2,202
- Cash -€1,376
down €1,376 (-9.2%), from €15,018 to €13,641
mainly Current portion of long-term debt (-€21,762) and Debts after one year (-€13,062)
- Current portion of long-term debt -€21,762
down €21,762 (-58.7%), from €37,089 to €15,327
- Profit (loss) carried forward +€18,477
up €18,477 (+52.6%), from -€35,110 to -€16,633
- Debts after one year -€13,062
down €13,062 (-27.6%), from €47,324 to €34,262
- Trade debts -€3,510
down €3,510 (-21.7%), from €16,186 to €12,676
of which Bills of exchange payable: -€5,169
- Accrued charges and deferred income +€2,669
up €2,669 (+49.3%), from €5,414 to €8,083
- Gross operating margin +€34,458
up €34,458 (+51.5%), from €66,890 to €101,347
- Staff costs -€14,641
down €14,641 (-18.1%), from €80,702 to €66,061
- Other operating charges -€4,894
down €4,894 (-73.3%), from €6,674 to €1,781
- Taxes +€1,934
up €1,934 (+68.8%), from €2,811 to €4,745
- Financial charges -€1,878
down €1,878 (-19.6%), from €9,582 to €7,704
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 | €135,081 | €117,340 | -€17,742 | -13.1% |
| Fixed assets | 21/28 | €14,244 | €11,659 | -€2,585 | -18.1% |
| Tangible fixed assets | 22/27 | €14,244 | €11,659 | -€2,585 | -18.1% |
| Plant, machinery and equipment | 23 | €13,562 | €11,361 | -€2,202 | -16.2% |
| Furniture and vehicles | 24 | €682 | €298 | -€383 | -56.2% |
| Current assets | 29/58 | €120,837 | €105,681 | -€15,157 | -12.5% |
| Stocks and contracts in progress | 3 | €17,490 | €17,215 | -€275 | -1.6% |
| Stocks | 30/36 | €17,490 | €17,215 | -€275 | -1.6% |
| Amounts receivable within one year | 40/41 | €66,512 | €48,813 | -€17,699 | -26.6% |
| Trade receivables | 40 | €17,532 | €10,401 | -€7,132 | -40.7% |
| Other amounts receivable | 41 | €48,979 | €38,412 | -€10,567 | -21.6% |
| Cash at bank and in hand | 54/58 | €15,018 | €13,641 | -€1,376 | -9.2% |
| Deferred charges and accrued income | 490/1 | €21,818 | €26,012 | +€4,194 | +19.2% |
| Total equity and liabilities | 10/49 | €135,081 | €117,340 | -€17,742 | -13.1% |
| Equity | 10/15 | €12,747 | €31,224 | +€18,477 | +144.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €27,858 | €27,858 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €25,858 | €25,858 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,110 | -€16,633 | +€18,477 | +52.6% |
| Amounts payable | 17/49 | €122,334 | €86,115 | -€36,219 | -29.6% |
| Amounts payable after more than one year | 17 | €47,324 | €34,262 | -€13,062 | -27.6% |
| Financial debts | 170/4 | €47,324 | €34,262 | -€13,062 | -27.6% |
| Amounts payable within one year | 42/48 | €69,597 | €43,770 | -€25,827 | -37.1% |
| Current portion of amounts payable after more than one year | 42 | €37,089 | €15,327 | -€21,762 | -58.7% |
| Trade debts | 44 | €16,186 | €12,676 | -€3,510 | -21.7% |
| Suppliers | 440/4 | €9,816 | €11,475 | +€1,659 | +16.9% |
| Bills of exchange payable | 441 | €6,370 | €1,201 | -€5,169 | -81.1% |
| Taxes, remuneration and social security | 45 | €6,788 | €5,919 | -€869 | -12.8% |
| Taxes | 450/3 | €2,142 | - | -€2,142 | |
| Remuneration and social security | 454/9 | €4,646 | €5,919 | +€1,273 | +27.4% |
| Other amounts payable | 47/48 | €9,534 | €9,848 | +€313 | +3.3% |
| Accrued charges and deferred income | 492/3 | €5,414 | €8,083 | +€2,669 | +49.3% |
| Non-recurring operating income | 76A | €232 | €93 | -€139 | -60.0% |
| Remuneration, social security and pensions | 62 | €80,702 | €66,061 | -€14,641 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,572 | €2,585 | +€13 | +0.5% |
| Other operating charges | 640/8 | €6,674 | €1,781 | -€4,894 | -73.3% |
| Gross operating margin | 9900 | €66,890 | €101,347 | +€34,458 | +51.5% |
| Operating profit (loss) | 9901 | -€23,058 | €30,921 | +€53,979 | |
| Financial income | 75/76B | €341 | €6 | -€335 | -98.3% |
| Recurring financial income | 75 | €341 | €6 | -€335 | -98.3% |
| Financial charges | 65/66B | €9,582 | €7,704 | -€1,878 | -19.6% |
| Recurring financial charges | 65 | €9,582 | €7,704 | -€1,878 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | -€32,299 | €23,222 | +€55,521 | |
| Income taxes | 67/77 | €2,811 | €4,745 | +€1,934 | +68.8% |
| Profit (loss) for the period | 9904 | -€35,110 | €18,477 | +€53,587 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,110 | €18,477 | +€53,587 |
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.