NIRTAC: 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.
NIRTAC
Largest movements
- Tangible fixed assets +€167,279
up €167,279 (+12.1%), from €1.4m to €1.5m
of which Land and buildings: +€181,307
- Current investments +€67,322
up €67,322 (+1,877%), from €3,587 to €70,909
- Cash -€60,937
down €60,937 (-62.4%), from €97,659 to €36,722
mainly Investment in fixed assets (net) (-€326,205) and Current investments (-€67,322)
- Receivables after one year +€27,386
up €27,386 (+62.2%), from €44,000 to €71,386
- Receivables within one year +€25,923
up €25,923 (+23.7%), from €109,277 to €135,200
of which Trade receivables: +€27,563
- Reserves +€100,000
up €100,000 (+52.6%), from €190,000 to €290,000
- Trade debts +€96,037
up €96,037 (+219%), from €43,928 to €139,964
- Debts after one year -€58,928
down €58,928 (-4.8%), from €1.2m to €1.2m
of which Financial debts: -€57,908
- Profit (loss) carried forward +€55,289
up €55,289 (+98.5%), from €56,107 to €111,396
- Current portion of long-term debt +€24,295
up €24,295 (+38.5%), from €63,104 to €87,399
- Gross operating margin +€126,467
up €126,467 (+35.7%), from €353,948 to €480,415
- Taxes +€35,732
up €35,732 (+108%), from €33,227 to €68,959
- Staff costs -€22,916
down €22,916 (-29.5%), from €77,807 to €54,891
- Depreciation +€13,097
up €13,097 (+8.9%), from €146,468 to €159,565
- Financial income -€5,674
down €5,674 (-76.3%), from €7,440 to €1,766
of which Financial income: -€6,992
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 | €1,648,303 | €1,871,499 | +€223,197 | +13.5% |
| Fixed assets | 21/28 | €1,388,011 | €1,554,651 | +€166,639 | +12.0% |
| Intangible fixed assets | 21 | €701 | €61 | -€640 | -91.2% |
| Tangible fixed assets | 22/27 | €1,377,026 | €1,544,305 | +€167,279 | +12.1% |
| Land and buildings | 22 | €1,350,536 | €1,531,843 | +€181,307 | +13.4% |
| Plant, machinery and equipment | 23 | €5,483 | €4,884 | -€599 | -10.9% |
| Furniture and vehicles | 24 | €21,007 | €7,579 | -€13,429 | -63.9% |
| Financial fixed assets | 28 | €10,284 | €10,284 | = | 0.0% |
| Current assets | 29/58 | €260,291 | €316,848 | +€56,557 | +21.7% |
| Amounts receivable after more than one year | 29 | €44,000 | €71,386 | +€27,386 | +62.2% |
| Other amounts receivable | 291 | €44,000 | €71,386 | +€27,386 | +62.2% |
| Amounts receivable within one year | 40/41 | €109,277 | €135,200 | +€25,923 | +23.7% |
| Trade receivables | 40 | €65,022 | €92,585 | +€27,563 | +42.4% |
| Other amounts receivable | 41 | €44,255 | €42,615 | -€1,640 | -3.7% |
| Current investments | 50/53 | €3,587 | €70,909 | +€67,322 | +1,877% |
| Cash at bank and in hand | 54/58 | €97,659 | €36,722 | -€60,937 | -62.4% |
| Deferred charges and accrued income | 490/1 | €5,768 | €2,632 | -€3,136 | -54.4% |
| Total equity and liabilities | 10/49 | €1,648,303 | €1,871,499 | +€223,197 | +13.5% |
| Equity | 10/15 | €272,336 | €427,625 | +€155,289 | +57.0% |
| Contributions | 10/11 | €26,230 | €26,230 | = | 0.0% |
| Reserves | 13 | €190,000 | €290,000 | +€100,000 | +52.6% |
| Distributable reserves | 133 | €190,000 | €290,000 | +€100,000 | +52.6% |
| Profit (loss) carried forward | 14 | €56,107 | €111,396 | +€55,289 | +98.5% |
| Amounts payable | 17/49 | €1,375,966 | €1,443,874 | +€67,908 | +4.9% |
| Amounts payable after more than one year | 17 | €1,230,448 | €1,171,520 | -€58,928 | -4.8% |
| Financial debts | 170/4 | €1,226,428 | €1,168,520 | -€57,908 | -4.7% |
| Other amounts payable | 178/9 | €4,020 | €3,000 | -€1,020 | -25.4% |
| Amounts payable within one year | 42/48 | €145,492 | €272,337 | +€126,845 | +87.2% |
| Current portion of amounts payable after more than one year | 42 | €63,104 | €87,399 | +€24,295 | +38.5% |
| Trade debts | 44 | €43,928 | €139,964 | +€96,037 | +219% |
| Suppliers | 440/4 | €43,928 | €139,964 | +€96,037 | +219% |
| Taxes, remuneration and social security | 45 | €38,460 | €27,807 | -€10,653 | -27.7% |
| Taxes | 450/3 | €36,581 | €27,436 | -€9,145 | -25.0% |
| Remuneration and social security | 454/9 | €1,879 | €370 | -€1,509 | -80.3% |
| Other amounts payable | 47/48 | - | €17,167 | +€17,167 | |
| Accrued charges and deferred income | 492/3 | €27 | €17 | -€10 | -36.6% |
| Remuneration, social security and pensions | 62 | €77,807 | €54,891 | -€22,916 | -29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,468 | €159,565 | +€13,097 | +8.9% |
| Other operating charges | 640/8 | €17,770 | €13,537 | -€4,233 | -23.8% |
| Gross operating margin | 9900 | €353,948 | €480,415 | +€126,467 | +35.7% |
| Operating profit (loss) | 9901 | €111,903 | €252,422 | +€140,519 | +126% |
| Financial income | 75/76B | €7,440 | €1,766 | -€5,674 | -76.3% |
| Recurring financial income | 75 | €7,440 | €448 | -€6,992 | -94.0% |
| Non-recurring financial income | 76B | - | €1,318 | +€1,318 | |
| Financial charges | 65/66B | €30,320 | €29,940 | -€380 | -1.3% |
| Recurring financial charges | 65 | €30,320 | €29,940 | -€380 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €89,023 | €224,248 | +€135,225 | +152% |
| Income taxes | 67/77 | €33,227 | €68,959 | +€35,732 | +108% |
| Profit (loss) for the period | 9904 | €55,796 | €155,289 | +€99,493 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €55,796 | €155,289 | +€99,493 | +178% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.