NISE: 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.
NISE
Largest movements
- Receivables within one year +€352,667
up €352,667 (+126.6%), from €278,461 to €631,128
of which Other amounts receivable: +€178,824
- Receivables after one year +€277,900
up €277,900 (+25.7%), from €1.1m to €1.4m
- Cash +€154,961
up €154,961 (+186.8%), from €82,949 to €237,910
mainly Net result for the year (+€1.3m) and Depreciation (+€31,510)
- Current investments +€150,796
up €150,796 (+33.5%), from €450,000 to €600,796
- Reserves +€1.3m
up €1.3m (+17.5%), from €7.3m to €8.6m
- Debts after one year -€262,957
down €262,957 (-37.4%), from €703,082 to €440,126
- Gross operating margin -€351,834
down €351,834 (-22.9%), from €1.5m to €1.2m
- Financial income +€278,287
up €278,287 (+166.7%), from €166,919 to €445,206
- Taxes -€88,638
down €88,638 (-23.7%), from €374,014 to €285,377
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 | €8,613,071 | €9,574,463 | +€961,392 | +11.2% |
| Fixed assets | 21/28 | €6,717,222 | €6,741,421 | +€24,198 | +0.4% |
| Tangible fixed assets | 22/27 | €414,412 | €438,611 | +€24,198 | +5.8% |
| Land and buildings | 22 | €398,198 | €400,733 | +€2,536 | +0.6% |
| Plant, machinery and equipment | 23 | €1,506 | €2,079 | +€573 | +38.1% |
| Furniture and vehicles | 24 | €14,709 | €35,798 | +€21,089 | +143.4% |
| Financial fixed assets | 28 | €6,302,810 | €6,302,810 | = | 0.0% |
| Current assets | 29/58 | €1,895,849 | €2,833,042 | +€937,193 | +49.4% |
| Amounts receivable after more than one year | 29 | €1,081,432 | €1,359,332 | +€277,900 | +25.7% |
| Other amounts receivable | 291 | €1,081,432 | €1,359,332 | +€277,900 | +25.7% |
| Stocks and contracts in progress | 3 | €1,371 | €1,371 | = | 0.0% |
| Stocks | 30/36 | €1,371 | €1,371 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €278,461 | €631,128 | +€352,667 | +126.6% |
| Trade receivables | 40 | €69,346 | €243,189 | +€173,843 | +250.7% |
| Other amounts receivable | 41 | €209,115 | €387,939 | +€178,824 | +85.5% |
| Current investments | 50/53 | €450,000 | €600,796 | +€150,796 | +33.5% |
| Cash at bank and in hand | 54/58 | €82,949 | €237,910 | +€154,961 | +186.8% |
| Deferred charges and accrued income | 490/1 | €1,637 | €2,505 | +€869 | +53.1% |
| Total equity and liabilities | 10/49 | €8,613,071 | €9,574,463 | +€961,392 | +11.2% |
| Equity | 10/15 | €7,333,862 | €8,615,221 | +€1.3m | +17.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €7,308,862 | €8,590,221 | +€1.3m | +17.5% |
| Distributable reserves | 133 | €7,308,862 | €8,590,221 | +€1.3m | +17.5% |
| Amounts payable | 17/49 | €1,279,209 | €959,241 | -€319,968 | -25.0% |
| Amounts payable after more than one year | 17 | €703,082 | €440,126 | -€262,957 | -37.4% |
| Financial debts | 170/4 | €703,082 | €440,126 | -€262,957 | -37.4% |
| Amounts payable within one year | 42/48 | €576,126 | €519,116 | -€57,011 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €261,073 | €262,957 | +€1,884 | +0.7% |
| Trade debts | 44 | €8,368 | €9,440 | +€1,071 | +12.8% |
| Suppliers | 440/4 | €8,368 | €9,440 | +€1,071 | +12.8% |
| Taxes, remuneration and social security | 45 | €132,543 | €64,220 | -€68,323 | -51.5% |
| Taxes | 450/3 | €105,615 | €52,283 | -€53,332 | -50.5% |
| Remuneration and social security | 454/9 | €26,928 | €11,936 | -€14,992 | -55.7% |
| Other amounts payable | 47/48 | €174,142 | €182,500 | +€8,358 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,063 | €31,510 | +€447 | +1.4% |
| Other operating charges | 640/8 | €6,763 | €6,715 | -€48 | -0.7% |
| Gross operating margin | 9900 | €1,534,217 | €1,182,383 | -€351,834 | -22.9% |
| Operating profit (loss) | 9901 | €1,496,391 | €1,144,158 | -€352,233 | -23.5% |
| Financial income | 75/76B | €166,919 | €445,206 | +€278,287 | +166.7% |
| Recurring financial income | 75 | €166,919 | €445,206 | +€278,287 | +166.7% |
| Financial charges | 65/66B | €14,043 | €22,628 | +€8,584 | +61.1% |
| Recurring financial charges | 65 | €14,043 | €22,628 | +€8,584 | +61.1% |
| Profit (loss) for the period before taxes | 9903 | €1,649,267 | €1,566,736 | -€82,531 | -5.0% |
| Income taxes | 67/77 | €374,014 | €285,377 | -€88,638 | -23.7% |
| Profit (loss) for the period | 9904 | €1,275,253 | €1,281,359 | +€6,107 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,275,253 | €1,281,359 | +€6,107 | +0.5% |
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.