NITAL: 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.
NITAL
Largest movements
- Cash +€1.2m
up €1.2m (+3,681%), from €32,474 to €1.2m
mainly Net result for the year (+€1.1m) and Investment in fixed assets (net) (+€612,644)
- Financial fixed assets -€612,644
down €612,644 (-38.2%), from €1.6m to €990,225
- Receivables within one year -€176,094
down €176,094 (-67.9%), from €259,451 to €83,357
- Deferred charges and accrued income +€108,942
up €108,942 (+231,791%), from €47 to €108,989
- Reserves +€1.1m
up €1.1m (+1,921%), from €57,100 to €1.2m
of which Distributable reserves: +€1.1m
- Other debts -€690,518
no longer reported in 2025 (was €690,518)
- Tax, wage and social debts +€109,667
new in 2025: €109,667
- Financial income +€1.4m
up €1.4m (+4,454%), from €31,778 to €1.4m
of which Non-recurring financial income: +€1.4m
- Taxes +€109,667
new in 2025: €109,667
- Gross operating margin +€830
up €830 (+14.6%), from -€5,694 to -€4,864
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 | €1,894,841 | €2,410,499 | +€515,658 | +27.2% |
| Fixed assets | 21/28 | €1,602,869 | €990,225 | -€612,644 | -38.2% |
| Financial fixed assets | 28 | €1,602,869 | €990,225 | -€612,644 | -38.2% |
| Current assets | 29/58 | €291,972 | €1,420,274 | +€1.1m | +386% |
| Amounts receivable within one year | 40/41 | €259,451 | €83,357 | -€176,094 | -67.9% |
| Other amounts receivable | 41 | €259,451 | €83,357 | -€176,094 | -67.9% |
| Cash at bank and in hand | 54/58 | €32,474 | €1,227,928 | +€1.2m | +3,681% |
| Deferred charges and accrued income | 490/1 | €47 | €108,989 | +€108,942 | +231,791% |
| Total equity and liabilities | 10/49 | €1,894,841 | €2,410,499 | +€515,658 | +27.2% |
| Equity | 10/15 | €1,203,762 | €2,300,432 | +€1.1m | +91.1% |
| Contributions | 10/11 | €71,000 | €71,000 | = | 0.0% |
| Capital | 10 | €71,000 | €71,000 | = | 0.0% |
| Issued capital | 100 | €71,000 | €71,000 | = | 0.0% |
| Reserves | 13 | €57,100 | €1,153,770 | +€1.1m | +1,921% |
| Non-distributable reserves | 130/1 | €7,100 | €7,100 | = | 0.0% |
| Legal reserve | 130 | €7,100 | €7,100 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €1,146,670 | +€1.1m | +2,193% |
| Profit (loss) carried forward | 14 | €1,075,662 | €1,075,662 | = | 0.0% |
| Amounts payable | 17/49 | €691,079 | €110,067 | -€581,012 | -84.1% |
| Amounts payable within one year | 42/48 | €690,518 | €109,949 | -€580,569 | -84.1% |
| Trade debts | 44 | - | €282 | +€282 | |
| Suppliers | 440/4 | - | €282 | +€282 | |
| Taxes, remuneration and social security | 45 | - | €109,667 | +€109,667 | |
| Taxes | 450/3 | - | €109,667 | +€109,667 | |
| Other amounts payable | 47/48 | €690,518 | - | -€690,518 | |
| Accrued charges and deferred income | 492/3 | €561 | €118 | -€443 | -79.0% |
| Other operating charges | 640/8 | €118 | €118 | = | 0.0% |
| Non-recurring operating charges | 66A | - | €235,935 | +€235,935 | |
| Gross operating margin | 9900 | -€5,694 | -€4,864 | +€830 | +14.6% |
| Operating profit (loss) | 9901 | -€5,812 | -€240,917 | -€235,105 | -4,045% |
| Financial income | 75/76B | €31,778 | €1,447,284 | +€1.4m | +4,454% |
| Recurring financial income | 75 | €31,778 | €49,207 | +€17,429 | +54.8% |
| Non-recurring financial income | 76B | - | €1,398,077 | +€1.4m | |
| Financial charges | 65/66B | €31 | €30 | -€1 | -3.2% |
| Recurring financial charges | 65 | €31 | €30 | -€1 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €25,935 | €1,206,337 | +€1.2m | +4,551% |
| Income taxes | 67/77 | - | €109,667 | +€109,667 | |
| Profit (loss) for the period | 9904 | €25,935 | €1,096,670 | +€1.1m | +4,129% |
| Profit (loss) for the period to be appropriated | 9905 | €25,935 | €1,096,670 | +€1.1m | +4,129% |
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 14 October 2026 via checked.be.