NITO: 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.
NITO
Largest movements
- Receivables within one year +€34,240
up €34,240 (+21.4%), from €159,906 to €194,146
of which Other amounts receivable: +€18,081
- Tangible fixed assets -€11,109
down €11,109 (-11.2%), from €99,109 to €88,000
- Cash -€5,656
down €5,656 (-4.2%), from €133,184 to €127,528
mainly Receivables within one year (-€34,240) and Investment in fixed assets (net) (-€23,609)
- Reserves +€50,068
up €50,068 (+62.4%), from €80,286 to €130,355
- Other debts -€17,647
down €17,647 (-10.1%), from €174,182 to €156,535
- Tax, wage and social debts -€17,632
down €17,632 (-23.2%), from €76,129 to €58,498
of which Taxes: -€13,041
- Trade debts +€14,433
up €14,433 (+55.0%), from €26,219 to €40,653
- Debts after one year -€8,211
down €8,211 (-43.4%), from €18,904 to €10,693
- Gross operating margin -€45,460
down €45,460 (-14.0%), from €324,699 to €279,239
- Taxes -€9,089
down €9,089 (-38.1%), from €23,886 to €14,796
- Staff costs -€6,845
down €6,845 (-3.9%), from €175,633 to €168,787
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 | €422,770 | €440,184 | +€17,414 | +4.1% |
| Fixed assets | 21/28 | €120,249 | €109,140 | -€11,109 | -9.2% |
| Tangible fixed assets | 22/27 | €99,109 | €88,000 | -€11,109 | -11.2% |
| Land and buildings | 22 | €64,903 | €60,976 | -€3,927 | -6.1% |
| Plant, machinery and equipment | 23 | €27,727 | €24,077 | -€3,650 | -13.2% |
| Furniture and vehicles | 24 | €6,479 | €2,947 | -€3,532 | -54.5% |
| Financial fixed assets | 28 | €21,140 | €21,140 | = | 0.0% |
| Current assets | 29/58 | €302,521 | €331,045 | +€28,523 | +9.4% |
| Stocks and contracts in progress | 3 | €7,432 | €7,897 | +€465 | +6.3% |
| Stocks | 30/36 | €7,432 | €7,897 | +€465 | +6.3% |
| Amounts receivable within one year | 40/41 | €159,906 | €194,146 | +€34,240 | +21.4% |
| Trade receivables | 40 | €6,357 | €22,517 | +€16,159 | +254% |
| Other amounts receivable | 41 | €153,549 | €171,630 | +€18,081 | +11.8% |
| Cash at bank and in hand | 54/58 | €133,184 | €127,528 | -€5,656 | -4.2% |
| Deferred charges and accrued income | 490/1 | €1,999 | €1,473 | -€526 | -26.3% |
| Total equity and liabilities | 10/49 | €422,770 | €440,184 | +€17,414 | +4.1% |
| Equity | 10/15 | €110,286 | €160,355 | +€50,068 | +45.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €80,286 | €130,355 | +€50,068 | +62.4% |
| Distributable reserves | 133 | €80,286 | €130,355 | +€50,068 | +62.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €312,484 | €279,830 | -€32,655 | -10.4% |
| Amounts payable after more than one year | 17 | €18,904 | €10,693 | -€8,211 | -43.4% |
| Financial debts | 170/4 | €18,904 | €10,693 | -€8,211 | -43.4% |
| Amounts payable within one year | 42/48 | €293,580 | €268,896 | -€24,684 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €7,917 | €8,211 | +€294 | +3.7% |
| Financial debts | 43 | €5,000 | €5,000 | = | 0.0% |
| Credit institutions | 430/8 | €5,000 | €5,000 | = | 0.0% |
| Trade debts | 44 | €26,219 | €40,653 | +€14,433 | +55.0% |
| Suppliers | 440/4 | €26,219 | €40,653 | +€14,433 | +55.0% |
| Advances received on contracts in progress | 46 | €4,132 | - | -€4,132 | |
| Taxes, remuneration and social security | 45 | €76,129 | €58,498 | -€17,632 | -23.2% |
| Taxes | 450/3 | €53,659 | €40,618 | -€13,041 | -24.3% |
| Remuneration and social security | 454/9 | €22,470 | €17,880 | -€4,590 | -20.4% |
| Other amounts payable | 47/48 | €174,182 | €156,535 | -€17,647 | -10.1% |
| Accrued charges and deferred income | 492/3 | - | €240 | +€240 | |
| Remuneration, social security and pensions | 62 | €175,633 | €168,787 | -€6,845 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,920 | €34,719 | +€2,798 | +8.8% |
| Other operating charges | 640/8 | €2,261 | €3,186 | +€925 | +40.9% |
| Gross operating margin | 9900 | €324,699 | €279,239 | -€45,460 | -14.0% |
| Operating profit (loss) | 9901 | €114,885 | €72,547 | -€42,338 | -36.9% |
| Financial income | 75/76B | €421 | €471 | +€50 | +11.9% |
| Recurring financial income | 75 | €421 | €471 | +€50 | +11.9% |
| Financial charges | 65/66B | €11,135 | €8,154 | -€2,981 | -26.8% |
| Recurring financial charges | 65 | €7,598 | €8,154 | +€555 | +7.3% |
| Non-recurring financial charges | 66B | €3,537 | €0 | -€3,537 | -100% |
| Profit (loss) for the period before taxes | 9903 | €104,172 | €64,865 | -€39,307 | -37.7% |
| Income taxes | 67/77 | €23,886 | €14,796 | -€9,089 | -38.1% |
| Profit (loss) for the period | 9904 | €80,286 | €50,068 | -€30,218 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €80,286 | €50,068 | -€30,218 | -37.6% |
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.