NIREAS: 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.
NIREAS
Largest movements
- Cash +€32,545
up €32,545 (+55.2%), from €58,933 to €91,478
mainly Net result for the year (+€32,834) and Depreciation (+€11,244)
- Tangible fixed assets +€1,756
up €1,756 (+6.4%), from €27,267 to €29,023
of which Plant, machinery and equipment: +€6,613
- Reserves +€32,700
up €32,700 (+77.2%), from €42,360 to €75,060
of which Distributable reserves: +€32,700
- Tax, wage and social debts -€5,468
down €5,468 (-45.9%), from €11,907 to €6,438
- Trade debts +€4,889
up €4,889 (+158%), from €3,089 to €7,978
- Other debts +€1,955
up €1,955 (+30.7%), from €6,369 to €8,324
- Taxes +€12,501
up €12,501 (+154%), from €8,117 to €20,618
- Gross operating margin +€5,673
up €5,673 (+9.2%), from €61,425 to €67,098
- Depreciation +€1,155
up €1,155 (+11.4%), from €10,089 to €11,244
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.
Derived cash bridge
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 | €104,502 | €138,711 | +€34,209 | +32.7% |
| Fixed assets | 21/28 | €28,167 | €29,923 | +€1,756 | +6.2% |
| Tangible fixed assets | 22/27 | €27,267 | €29,023 | +€1,756 | +6.4% |
| Land and buildings | 22 | €14,641 | €10,403 | -€4,238 | -28.9% |
| Plant, machinery and equipment | 23 | €10,997 | €17,610 | +€6,613 | +60.1% |
| Furniture and vehicles | 24 | €1,629 | €1,010 | -€618 | -38.0% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €76,335 | €108,788 | +€32,453 | +42.5% |
| Amounts receivable within one year | 40/41 | €17,402 | €17,310 | -€92 | -0.5% |
| Trade receivables | 40 | €17,402 | €17,310 | -€92 | -0.5% |
| Cash at bank and in hand | 54/58 | €58,933 | €91,478 | +€32,545 | +55.2% |
| Total equity and liabilities | 10/49 | €104,502 | €138,711 | +€34,209 | +32.7% |
| Equity | 10/15 | €83,138 | €115,971 | +€32,834 | +39.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €42,360 | €75,060 | +€32,700 | +77.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €40,500 | €73,200 | +€32,700 | +80.7% |
| Profit (loss) carried forward | 14 | €34,578 | €34,711 | +€134 | +0.4% |
| Amounts payable | 17/49 | €21,364 | €22,740 | +€1,376 | +6.4% |
| Amounts payable within one year | 42/48 | €21,364 | €22,740 | +€1,376 | +6.4% |
| Trade debts | 44 | €3,089 | €7,978 | +€4,889 | +158% |
| Suppliers | 440/4 | €3,089 | €7,978 | +€4,889 | +158% |
| Taxes, remuneration and social security | 45 | €11,907 | €6,438 | -€5,468 | -45.9% |
| Taxes | 450/3 | €11,907 | €6,438 | -€5,468 | -45.9% |
| Other amounts payable | 47/48 | €6,369 | €8,324 | +€1,955 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,089 | €11,244 | +€1,155 | +11.4% |
| Other operating charges | 640/8 | €1,553 | €1,681 | +€128 | +8.3% |
| Gross operating margin | 9900 | €61,425 | €67,098 | +€5,673 | +9.2% |
| Operating profit (loss) | 9901 | €49,783 | €54,173 | +€4,390 | +8.8% |
| Financial income | 75/76B | - | €171 | +€171 | |
| Recurring financial income | 75 | - | €171 | +€171 | |
| Financial charges | 65/66B | €699 | €893 | +€194 | +27.8% |
| Recurring financial charges | 65 | €699 | €893 | +€194 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €49,084 | €53,451 | +€4,367 | +8.9% |
| Income taxes | 67/77 | €8,117 | €20,618 | +€12,501 | +154% |
| Profit (loss) for the period | 9904 | €40,968 | €32,834 | -€8,134 | -19.9% |
| Profit (loss) for the period to be appropriated | 9905 | €40,968 | €32,834 | -€8,134 | -19.9% |
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 23 October 2026 via checked.be.