NISON: 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.
NISON
Largest movements
- Receivables within one year -€80,700
down €80,700 (-16.0%), from €504,909 to €424,209
of which Trade receivables: -€87,835
- Cash -€61,362
down €61,362 (-55.5%), from €110,579 to €49,216
mainly Net result for the year (-€86,088) and Trade debts (-€52,240)
- Profit (loss) carried forward -€86,088
new in 2025: -€86,088
- Trade debts -€52,240
down €52,240 (-16.2%), from €322,891 to €270,650
- Other debts +€37,500
up €37,500 (+36.3%), from €103,331 to €140,831
- Short-term financial debts -€25,000
down €25,000 (-10.0%), from €250,000 to €225,000
- Tax, wage and social debts -€16,618
down €16,618 (-78.8%), from €21,089 to €4,471
of which Remuneration and social security: -€11,739
- Gross operating margin -€104,497
down €104,497 (-86.4%), from €120,914 to €16,417
- Write-downs -€45,942
no longer reported in 2025 (was €45,942)
- Financial charges +€26,652
up €26,652 (+97.8%), from €27,263 to €53,915
- Financial income -€15,242
no longer reported in 2025 (was €15,242)
- Taxes -€4,363
down €4,363 (-98.7%), from €4,422 to €59
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 | €1,030,592 | €888,146 | -€142,446 | -13.8% |
| Fixed assets | 21/28 | €3,835 | €2,649 | -€1,186 | -30.9% |
| Tangible fixed assets | 22/27 | €3,835 | €2,649 | -€1,186 | -30.9% |
| Plant, machinery and equipment | 23 | €1,025 | - | -€1,025 | |
| Furniture and vehicles | 24 | €310 | €149 | -€161 | -51.8% |
| Other tangible fixed assets | 26 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €1,026,757 | €885,497 | -€141,260 | -13.8% |
| Stocks and contracts in progress | 3 | €411,162 | €409,662 | -€1,500 | -0.4% |
| Stocks | 30/36 | €411,162 | €409,662 | -€1,500 | -0.4% |
| Amounts receivable within one year | 40/41 | €504,909 | €424,209 | -€80,700 | -16.0% |
| Trade receivables | 40 | €502,520 | €414,686 | -€87,835 | -17.5% |
| Other amounts receivable | 41 | €2,388 | €9,523 | +€7,135 | +299% |
| Cash at bank and in hand | 54/58 | €110,579 | €49,216 | -€61,362 | -55.5% |
| Deferred charges and accrued income | 490/1 | €108 | €2,410 | +€2,302 | +2,138% |
| Total equity and liabilities | 10/49 | €1,030,592 | €888,146 | -€142,446 | -13.8% |
| Equity | 10/15 | €333,282 | €247,194 | -€86,088 | -25.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €314,682 | €314,682 | = | 0.0% |
| Distributable reserves | 133 | €314,682 | €314,682 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€86,088 | -€86,088 | |
| Amounts payable | 17/49 | €697,310 | €640,952 | -€56,358 | -8.1% |
| Amounts payable within one year | 42/48 | €697,310 | €640,952 | -€56,358 | -8.1% |
| Financial debts | 43 | €250,000 | €225,000 | -€25,000 | -10.0% |
| Credit institutions | 430/8 | €250,000 | €225,000 | -€25,000 | -10.0% |
| Trade debts | 44 | €322,891 | €270,650 | -€52,240 | -16.2% |
| Suppliers | 440/4 | €322,891 | €270,650 | -€52,240 | -16.2% |
| Taxes, remuneration and social security | 45 | €21,089 | €4,471 | -€16,618 | -78.8% |
| Taxes | 450/3 | €9,349 | €4,471 | -€4,879 | -52.2% |
| Remuneration and social security | 454/9 | €11,739 | - | -€11,739 | |
| Other amounts payable | 47/48 | €103,331 | €140,831 | +€37,500 | +36.3% |
| Remuneration, social security and pensions | 62 | €43,243 | €45,595 | +€2,352 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,258 | €1,186 | -€2,072 | -63.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €45,942 | - | -€45,942 | |
| Other operating charges | 640/8 | €1,632 | €1,750 | +€118 | +7.2% |
| Gross operating margin | 9900 | €120,914 | €16,417 | -€104,497 | -86.4% |
| Operating profit (loss) | 9901 | €26,839 | -€32,114 | -€58,953 | |
| Financial income | 75/76B | €15,242 | - | -€15,242 | |
| Recurring financial income | 75 | €15,242 | - | -€15,242 | |
| Financial charges | 65/66B | €27,263 | €53,915 | +€26,652 | +97.8% |
| Recurring financial charges | 65 | €27,263 | €53,915 | +€26,652 | +97.8% |
| Profit (loss) for the period before taxes | 9903 | €14,818 | -€86,029 | -€100,847 | |
| Income taxes | 67/77 | €4,422 | €59 | -€4,363 | -98.7% |
| Profit (loss) for the period | 9904 | €10,396 | -€86,088 | -€96,484 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,396 | -€86,088 | -€96,484 |
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 13 October 2026 via checked.be.