NITHACO: 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.
NITHACO
Largest movements
- Current investments -€1.6m
down €1.6m (-49.5%), from €3.3m to €1.7m
- Receivables within one year -€234,530
down €234,530 (-42.9%), from €547,100 to €312,570
of which Other amounts receivable: -€222,740
- Cash -€214,858
down €214,858 (-33.3%), from €644,465 to €429,607
mainly Other debts (-€2.0m) and Debts after one year (-€186,709)
- Other debts -€2.0m
no longer reported in 2025 (was €2.0m)
- Debts after one year -€186,709
down €186,709 (-16.4%), from €1.1m to €948,447
of which Financial debts: -€200,283
- Profit (loss) carried forward -€143,470
down €143,470 (-2.2%), from €6.6m to €6.5m
- Gross operating margin +€199,466
up €199,466 (+160.7%), from €124,098 to €323,563
- Write-downs +€155,736
up €155,736 (+91.5%), from -€170,271 to -€14,535
- Financial charges -€38,216
down €38,216 (-38.5%), from €99,177 to €60,961
- Financial income -€31,928
down €31,928 (-35.9%), from €88,997 to €57,069
- Staff costs -€27,868
down €27,868 (-22.0%), from €126,678 to €98,809
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 | €13,987,564 | €11,686,650 | -€2.3m | -16.4% |
| Fixed assets | 21/28 | €8,104,227 | €7,949,038 | -€155,190 | -1.9% |
| Intangible fixed assets | 21 | €698,619 | €582,183 | -€116,437 | -16.7% |
| Tangible fixed assets | 22/27 | €7,214,858 | €7,181,406 | -€33,452 | -0.5% |
| Land and buildings | 22 | €6,283,297 | €6,114,556 | -€168,740 | -2.7% |
| Plant, machinery and equipment | 23 | €4,438 | €5,381 | +€943 | +21.3% |
| Furniture and vehicles | 24 | €561,696 | €696,644 | +€134,948 | +24.0% |
| Other tangible fixed assets | 26 | €365,428 | €364,825 | -€603 | -0.2% |
| Financial fixed assets | 28 | €190,750 | €185,449 | -€5,301 | -2.8% |
| Current assets | 29/58 | €5,883,336 | €3,737,613 | -€2.1m | -36.5% |
| Amounts receivable after more than one year | 29 | €1,391,600 | €1,320,400 | -€71,200 | -5.1% |
| Other amounts receivable | 291 | €1,391,600 | €1,320,400 | -€71,200 | -5.1% |
| Amounts receivable within one year | 40/41 | €547,100 | €312,570 | -€234,530 | -42.9% |
| Trade receivables | 40 | €14,989 | €3,198 | -€11,791 | -78.7% |
| Other amounts receivable | 41 | €532,111 | €309,372 | -€222,740 | -41.9% |
| Current investments | 50/53 | €3,285,339 | €1,658,767 | -€1.6m | -49.5% |
| Cash at bank and in hand | 54/58 | €644,465 | €429,607 | -€214,858 | -33.3% |
| Deferred charges and accrued income | 490/1 | €14,832 | €16,269 | +€1,437 | +9.7% |
| Total equity and liabilities | 10/49 | €13,987,564 | €11,686,650 | -€2.3m | -16.4% |
| Equity | 10/15 | €9,656,981 | €9,513,512 | -€143,470 | -1.5% |
| Contributions | 10/11 | €2,750,000 | €2,750,000 | = | 0.0% |
| Capital | 10 | €2,750,000 | €2,750,000 | = | 0.0% |
| Issued capital | 100 | €2,750,000 | €2,750,000 | = | 0.0% |
| Reserves | 13 | €275,000 | €275,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €275,000 | €275,000 | = | 0.0% |
| Legal reserve | 130 | €275,000 | €275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,631,981 | €6,488,512 | -€143,470 | -2.2% |
| Amounts payable | 17/49 | €4,330,582 | €2,173,139 | -€2.2m | -49.8% |
| Amounts payable after more than one year | 17 | €1,135,156 | €948,447 | -€186,709 | -16.4% |
| Financial debts | 170/4 | €1,096,856 | €896,573 | -€200,283 | -18.3% |
| Other amounts payable | 178/9 | €38,300 | €51,874 | +€13,574 | +35.4% |
| Amounts payable within one year | 42/48 | €3,195,426 | €1,224,692 | -€2.0m | -61.7% |
| Current portion of amounts payable after more than one year | 42 | €197,865 | €200,283 | +€2,419 | +1.2% |
| Financial debts | 43 | €1,000,000 | €1,000,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,000,000 | €1,000,000 | = | 0.0% |
| Trade debts | 44 | €4,949 | €5,671 | +€722 | +14.6% |
| Suppliers | 440/4 | €4,949 | €5,671 | +€722 | +14.6% |
| Taxes, remuneration and social security | 45 | €19,337 | €18,737 | -€600 | -3.1% |
| Taxes | 450/3 | €4,036 | €8,240 | +€4,204 | +104.2% |
| Remuneration and social security | 454/9 | €15,302 | €10,497 | -€4,804 | -31.4% |
| Other amounts payable | 47/48 | €1,973,275 | - | -€2.0m | |
| Non-recurring operating income | 76A | €59,820 | €454,534 | +€394,714 | +659.8% |
| Remuneration, social security and pensions | 62 | €126,678 | €98,809 | -€27,868 | -22.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €321,730 | €332,157 | +€10,427 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€170,271 | -€14,535 | +€155,736 | +91.5% |
| Other operating charges | 640/8 | €19,291 | €46,383 | +€27,091 | +140.4% |
| Gross operating margin | 9900 | €124,098 | €323,563 | +€199,466 | +160.7% |
| Operating profit (loss) | 9901 | -€173,330 | -€139,250 | +€34,080 | +19.7% |
| Financial income | 75/76B | €88,997 | €57,069 | -€31,928 | -35.9% |
| Recurring financial income | 75 | €88,997 | €57,069 | -€31,928 | -35.9% |
| Financial charges | 65/66B | €99,177 | €60,961 | -€38,216 | -38.5% |
| Recurring financial charges | 65 | €99,177 | €60,961 | -€38,216 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€183,509 | -€143,141 | +€40,368 | +22.0% |
| Income taxes | 67/77 | €287 | €328 | +€41 | +14.4% |
| Profit (loss) for the period | 9904 | -€183,796 | -€143,470 | +€40,326 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€183,796 | -€143,470 | +€40,326 | +21.9% |
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 7 October 2026 via checked.be.