NIRENBERG: 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.
NIRENBERG
Largest movements
- Tangible fixed assets +€113,201
up €113,201 (+21.6%), from €524,302 to €637,503
of which Plant, machinery and equipment: +€119,539
- Cash -€21,313
down €21,313 (-56.6%), from €37,647 to €16,334
mainly Investment in fixed assets (net) (-€166,575) and Debts after one year (-€18,846)
- Other debts +€88,680
up €88,680 (+19.1%), from €464,482 to €553,162
- Profit (loss) carried forward +€21,888
up €21,888 (+12.9%), from -€170,113 to -€148,225
- Debts after one year -€18,846
down €18,846 (-26.4%), from €71,443 to €52,598
- Gross operating margin +€21,115
up €21,115 (+32.4%), from €65,145 to €86,260
- Depreciation +€8,931
up €8,931 (+20.1%), from €44,442 to €53,374
- Other operating charges +€2,381
up €2,381 (+37.8%), from €6,301 to €8,682
- Financial charges -€1,115
down €1,115 (-32.5%), from €3,432 to €2,318
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 | €564,870 | €653,837 | +€88,967 | +15.8% |
| Fixed assets | 21/28 | €524,302 | €637,503 | +€113,201 | +21.6% |
| Tangible fixed assets | 22/27 | €524,302 | €637,503 | +€113,201 | +21.6% |
| Land and buildings | 22 | €418,764 | €396,372 | -€22,392 | -5.3% |
| Plant, machinery and equipment | 23 | €102,254 | €221,793 | +€119,539 | +117% |
| Furniture and vehicles | 24 | €3,283 | €19,337 | +€16,054 | +489% |
| Current assets | 29/58 | €40,568 | €16,334 | -€24,234 | -59.7% |
| Amounts receivable within one year | 40/41 | €0 | €0 | = | |
| Trade receivables | 40 | - | €0 | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €37,647 | €16,334 | -€21,313 | -56.6% |
| Deferred charges and accrued income | 490/1 | €2,921 | €0 | -€2,921 | -100% |
| Total equity and liabilities | 10/49 | €564,870 | €653,837 | +€88,967 | +15.8% |
| Equity | 10/15 | €4,887 | €26,775 | +€21,888 | +448% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Capital | 10 | €175,000 | €175,000 | = | 0.0% |
| Issued capital | 100 | €175,000 | €175,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€170,113 | -€148,225 | +€21,888 | +12.9% |
| Amounts payable | 17/49 | €559,983 | €627,062 | +€67,079 | +12.0% |
| Amounts payable after more than one year | 17 | €71,443 | €52,598 | -€18,846 | -26.4% |
| Financial debts | 170/4 | €71,443 | €52,598 | -€18,846 | -26.4% |
| Amounts payable within one year | 42/48 | €488,540 | €574,464 | +€85,925 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €22,813 | €20,613 | -€2,200 | -9.6% |
| Trade debts | 44 | €1,244 | €689 | -€555 | -44.6% |
| Suppliers | 440/4 | €1,244 | €689 | -€555 | -44.6% |
| Other amounts payable | 47/48 | €464,482 | €553,162 | +€88,680 | +19.1% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,442 | €53,374 | +€8,931 | +20.1% |
| Other operating charges | 640/8 | €6,301 | €8,682 | +€2,381 | +37.8% |
| Gross operating margin | 9900 | €65,145 | €86,260 | +€21,115 | +32.4% |
| Operating profit (loss) | 9901 | €14,402 | €24,204 | +€9,802 | +68.1% |
| Financial income | 75/76B | €5 | €1 | -€3 | -69.7% |
| Recurring financial income | 75 | €5 | €1 | -€3 | -69.7% |
| Financial charges | 65/66B | €3,432 | €2,318 | -€1,115 | -32.5% |
| Recurring financial charges | 65 | €3,432 | €2,318 | -€1,115 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €10,974 | €21,888 | +€10,914 | +99.4% |
| Profit (loss) for the period | 9904 | €10,974 | €21,888 | +€10,914 | +99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,974 | €21,888 | +€10,914 | +99.4% |
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 20 October 2026 via checked.be.