Nisa: 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.
Nisa
Largest movements
- Tangible fixed assets -€391,998
down €391,998 (-9.4%), from €4.2m to €3.8m
of which Land and buildings: -€389,925
- Cash -€285,730
down €285,730 (-60.7%), from €471,025 to €185,295
mainly Debts after one year (-€2.0m) and Other debts (-€731,267)
- Debts after one year -€2.0m
down €2.0m (-76.4%), from €2.6m to €617,800
- Reserves +€1.3m
up €1.3m (+378.0%), from €338,040 to €1.6m
of which Tax-exempt reserves: +€1.4m
- Other debts -€731,267
down €731,267 (-70.8%), from €1.0m to €301,023
- Provisions +€438,001
up €438,001 (+691.0%), from €63,383 to €501,385
- Profit (loss) carried forward +€363,316
up €363,316 (+99.7%), from -€364,412 to -€1,096
- Gross operating margin +€2.1m
up €2.1m (+1466.2%), from €145,938 to €2.3m
- Financial charges -€31,329
down €31,329 (-42.7%), from €73,351 to €42,022
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 | €4,683,067 | €3,975,825 | -€707,242 | -15.1% |
| Fixed assets | 21/28 | €4,170,632 | €3,778,634 | -€391,998 | -9.4% |
| Tangible fixed assets | 22/27 | €4,170,632 | €3,778,634 | -€391,998 | -9.4% |
| Land and buildings | 22 | €4,166,641 | €3,776,716 | -€389,925 | -9.4% |
| Plant, machinery and equipment | 23 | €3,990 | €1,918 | -€2,073 | -51.9% |
| Current assets | 29/58 | €512,436 | €197,191 | -€315,245 | -61.5% |
| Amounts receivable after more than one year | 29 | €4,277 | €4,320 | +€43 | +1.0% |
| Trade receivables | 290 | €4,277 | €4,320 | +€43 | +1.0% |
| Amounts receivable within one year | 40/41 | €26,913 | €6,417 | -€20,497 | -76.2% |
| Trade receivables | 40 | €24,536 | €4,016 | -€20,521 | -83.6% |
| Other amounts receivable | 41 | €2,377 | €2,401 | +€24 | +1.0% |
| Cash at bank and in hand | 54/58 | €471,025 | €185,295 | -€285,730 | -60.7% |
| Deferred charges and accrued income | 490/1 | €10,219 | €1,159 | -€9,061 | -88.7% |
| Total equity and liabilities | 10/49 | €4,683,067 | €3,975,825 | -€707,242 | -15.1% |
| Equity | 10/15 | €869,828 | €2,511,072 | +€1.6m | +188.7% |
| Contributions | 10/11 | €896,200 | €896,200 | = | 0.0% |
| Capital | 10 | €896,200 | €896,200 | = | 0.0% |
| Issued capital | 100 | €896,200 | €896,200 | = | 0.0% |
| Reserves | 13 | €338,040 | €1,615,968 | +€1.3m | +378.0% |
| Non-distributable reserves | 130/1 | €19,640 | €19,640 | = | 0.0% |
| Legal reserve | 130 | €19,640 | €19,640 | = | 0.0% |
| Tax-exempt reserves | 132 | €190,151 | €1,596,328 | +€1.4m | +739.5% |
| Distributable reserves | 133 | €128,249 | - | -€128,249 | |
| Profit (loss) carried forward | 14 | -€364,412 | -€1,096 | +€363,316 | +99.7% |
| Provisions and deferred taxes | 16 | €63,383 | €501,385 | +€438,001 | +691.0% |
| Deferred taxes | 168 | €63,383 | €501,385 | +€438,001 | +691.0% |
| Amounts payable | 17/49 | €3,749,856 | €963,368 | -€2.8m | -74.3% |
| Amounts payable after more than one year | 17 | €2,617,800 | €617,800 | -€2.0m | -76.4% |
| Financial debts | 170/4 | €2,617,800 | €617,800 | -€2.0m | -76.4% |
| Amounts payable within one year | 42/48 | €1,082,174 | €315,074 | -€767,100 | -70.9% |
| Trade debts | 44 | €28,013 | €1,712 | -€26,300 | -93.9% |
| Suppliers | 440/4 | €28,013 | €1,712 | -€26,300 | -93.9% |
| Taxes, remuneration and social security | 45 | €21,871 | €12,339 | -€9,532 | -43.6% |
| Taxes | 450/3 | €21,871 | €12,339 | -€9,532 | -43.6% |
| Other amounts payable | 47/48 | €1,032,290 | €301,023 | -€731,267 | -70.8% |
| Accrued charges and deferred income | 492/3 | €49,882 | €30,495 | -€19,388 | -38.9% |
| Non-recurring operating income | 76A | - | €2,111,052 | +€2.1m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,333 | €131,105 | -€6,228 | -4.5% |
| Other operating charges | 640/8 | €34,478 | €33,398 | -€1,081 | -3.1% |
| Gross operating margin | 9900 | €145,938 | €2,285,704 | +€2.1m | +1466.2% |
| Operating profit (loss) | 9901 | -€25,873 | €2,121,200 | +€2.1m | |
| Financial income | 75/76B | €1,039 | €67 | -€973 | -93.6% |
| Recurring financial income | 75 | €1,039 | €67 | -€973 | -93.6% |
| Financial charges | 65/66B | €73,351 | €42,022 | -€31,329 | -42.7% |
| Recurring financial charges | 65 | €73,351 | €42,022 | -€31,329 | -42.7% |
| Profit (loss) for the period before taxes | 9903 | -€98,185 | €2,079,245 | +€2.2m | |
| Transfer from deferred taxes | 780 | €2,638 | €89,762 | +€87,124 | +3303.1% |
| Transfer to deferred taxes | 680 | - | €527,763 | +€527,763 | |
| Profit (loss) for the period | 9904 | -€95,547 | €1,641,244 | +€1.7m | |
| Transfer from tax-exempt reserves | 789 | €7,913 | €177,112 | +€169,199 | +2138.2% |
| Transfer to tax-exempt reserves | 689 | - | €1,583,289 | +€1.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,634 | €235,067 | +€322,701 |
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 3 October 2026 via checked.be.