NISEN-S: what changed
NISEN-S
Largest movements
- Receivables within one year +€182,921
up €182,921 (+206%), from €88,768 to €271,689
of which Trade receivables: +€183,879
- Stocks and contracts +€164,298
up €164,298 (+129%), from €127,270 to €291,568
- Cash -€52,170
down €52,170 (-96.7%), from €53,978 to €1,808
mainly Receivables within one year (-€182,921) and Stocks and contracts (-€164,298)
- Trade debts +€172,162
up €172,162 (+226%), from €76,011 to €248,173
- Reserves +€61,768
up €61,768 (+107%), from €57,938 to €119,706
- Other debts +€53,209
up €53,209 (+59.8%), from €89,030 to €142,239
- Tax, wage and social debts +€7,910
up €7,910 (+29.3%), from €27,038 to €34,947
- Turnover +€50,167
up €50,167 (+7.4%), from €674,818 to €724,985
- Purchases and services +€42,346
up €42,346 (+7.2%), from €589,922 to €632,268
- Gross operating margin +€7,821
up €7,821 (+9.2%), from €84,896 to €92,717
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €270,016 | €565,065 | +€295,049 | +109% |
| Current assets | 29/58 | €270,016 | €565,065 | +€295,049 | +109% |
| Stocks and contracts in progress | 3 | €127,270 | €291,568 | +€164,298 | +129% |
| Stocks | 30/36 | €127,270 | €291,568 | +€164,298 | +129% |
| Amounts receivable within one year | 40/41 | €88,768 | €271,689 | +€182,921 | +206% |
| Trade receivables | 40 | €87,810 | €271,689 | +€183,879 | +209% |
| Other amounts receivable | 41 | €958 | - | -€958 | |
| Cash at bank and in hand | 54/58 | €53,978 | €1,808 | -€52,170 | -96.7% |
| Total equity and liabilities | 10/49 | €270,016 | €565,065 | +€295,049 | +109% |
| Equity | 10/15 | €77,938 | €139,706 | +€61,768 | +79.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €57,938 | €119,706 | +€61,768 | +107% |
| Distributable reserves | 133 | €57,938 | €119,706 | +€61,768 | +107% |
| Amounts payable | 17/49 | €192,078 | €425,359 | +€233,281 | +121% |
| Amounts payable within one year | 42/48 | €192,078 | €425,359 | +€233,281 | +121% |
| Trade debts | 44 | €76,011 | €248,173 | +€172,162 | +226% |
| Suppliers | 440/4 | €76,011 | €248,173 | +€172,162 | +226% |
| Taxes, remuneration and social security | 45 | €27,038 | €34,947 | +€7,910 | +29.3% |
| Taxes | 450/3 | €27,038 | €34,947 | +€7,910 | +29.3% |
| Other amounts payable | 47/48 | €89,030 | €142,239 | +€53,209 | +59.8% |
| Turnover | 70 | €674,818 | €724,985 | +€50,167 | +7.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €589,922 | €632,268 | +€42,346 | +7.2% |
| Gross operating margin | 9900 | €84,896 | €92,717 | +€7,821 | +9.2% |
| Operating profit (loss) | 9901 | €84,896 | €92,717 | +€7,821 | +9.2% |
| Financial income | 75/76B | €130 | €3 | -€127 | -97.7% |
| Recurring financial income | 75 | €130 | €3 | -€127 | -97.7% |
| Financial charges | 65/66B | €51 | €42 | -€9 | -17.6% |
| Recurring financial charges | 65 | €51 | €42 | -€9 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €84,975 | €92,678 | +€7,703 | +9.1% |
| Income taxes | 67/77 | €27,038 | €30,910 | +€3,873 | +14.3% |
| Profit (loss) for the period | 9904 | €57,938 | €61,768 | +€3,830 | +6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,938 | €61,768 | +€3,830 | +6.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.