NITOR: 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.
NITOR
Largest movements
- Receivables within one year +€116,342
up €116,342 (+153%), from €75,926 to €192,267
of which Other amounts receivable: +€156,766
- Receivables after one year -€94,167
down €94,167 (-23.9%), from €394,167 to €300,000
- Reserves +€36,105
up €36,105 (+13.1%), from €275,614 to €311,719
of which Distributable reserves: +€36,105
- Trade debts -€21,581
down €21,581 (-45.6%), from €47,303 to €25,722
- Debts after one year -€11,987
down €11,987 (-15.5%), from €77,373 to €65,386
- Financial income +€31,267
up €31,267, from €0 to €31,267
- Taxes +€7,585
up €7,585 (+92.3%), from €8,222 to €15,807
- Gross operating margin +€6,383
up €6,383 (+20.5%), from €31,153 to €37,535
- Depreciation -€3,842
down €3,842 (-36.8%), from €10,434 to €6,592
- Other operating charges +€1,190
up €1,190 (+45.2%), from €2,630 to €3,820
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 | €786,053 | €792,512 | +€6,459 | +0.8% |
| Fixed assets | 21/28 | €311,109 | €297,517 | -€13,592 | -4.4% |
| Tangible fixed assets | 22/27 | €154,109 | €147,517 | -€6,592 | -4.3% |
| Land and buildings | 22 | €145,000 | €141,250 | -€3,750 | -2.6% |
| Plant, machinery and equipment | 23 | €84 | €0 | -€84 | -100% |
| Furniture and vehicles | 24 | €9,025 | €6,267 | -€2,758 | -30.6% |
| Financial fixed assets | 28 | €157,000 | €150,000 | -€7,000 | -4.5% |
| Current assets | 29/58 | €474,944 | €494,995 | +€20,051 | +4.2% |
| Amounts receivable after more than one year | 29 | €394,167 | €300,000 | -€94,167 | -23.9% |
| Other amounts receivable | 291 | €394,167 | €300,000 | -€94,167 | -23.9% |
| Amounts receivable within one year | 40/41 | €75,926 | €192,267 | +€116,342 | +153% |
| Trade receivables | 40 | €71,955 | €31,530 | -€40,425 | -56.2% |
| Other amounts receivable | 41 | €3,970 | €160,737 | +€156,766 | +3,948% |
| Cash at bank and in hand | 54/58 | €693 | €773 | +€80 | +11.5% |
| Deferred charges and accrued income | 490/1 | €4,159 | €1,956 | -€2,203 | -53.0% |
| Total equity and liabilities | 10/49 | €786,053 | €792,512 | +€6,459 | +0.8% |
| Equity | 10/15 | €281,814 | €317,919 | +€36,105 | +12.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €275,614 | €311,719 | +€36,105 | +13.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €273,754 | €309,859 | +€36,105 | +13.2% |
| Amounts payable | 17/49 | €504,240 | €474,593 | -€29,646 | -5.9% |
| Amounts payable after more than one year | 17 | €77,373 | €65,386 | -€11,987 | -15.5% |
| Financial debts | 170/4 | €77,373 | €65,386 | -€11,987 | -15.5% |
| Amounts payable within one year | 42/48 | €423,784 | €406,382 | -€17,402 | -4.1% |
| Current portion of amounts payable after more than one year | 42 | €11,796 | €11,987 | +€192 | +1.6% |
| Financial debts | 43 | €50,000 | €50,027 | +€27 | +0.1% |
| Credit institutions | 430/8 | €50,000 | €50,027 | +€27 | +0.1% |
| Trade debts | 44 | €47,303 | €25,722 | -€21,581 | -45.6% |
| Suppliers | 440/4 | €47,303 | €25,722 | -€21,581 | -45.6% |
| Taxes, remuneration and social security | 45 | €25,103 | €26,282 | +€1,179 | +4.7% |
| Taxes | 450/3 | €25,103 | €26,282 | +€1,179 | +4.7% |
| Other amounts payable | 47/48 | €289,583 | €292,364 | +€2,781 | +1.0% |
| Accrued charges and deferred income | 492/3 | €3,082 | €2,825 | -€257 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,434 | €6,592 | -€3,842 | -36.8% |
| Other operating charges | 640/8 | €2,630 | €3,820 | +€1,190 | +45.2% |
| Gross operating margin | 9900 | €31,153 | €37,535 | +€6,383 | +20.5% |
| Operating profit (loss) | 9901 | €18,088 | €27,123 | +€9,035 | +50.0% |
| Financial income | 75/76B | €0 | €31,267 | +€31,267 | |
| Recurring financial income | 75 | €0 | €31,267 | +€31,267 | |
| Financial charges | 65/66B | €7,615 | €6,478 | -€1,137 | -14.9% |
| Recurring financial charges | 65 | €7,615 | €6,478 | -€1,137 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €10,473 | €51,912 | +€41,439 | +396% |
| Income taxes | 67/77 | €8,222 | €15,807 | +€7,585 | +92.3% |
| Profit (loss) for the period | 9904 | €2,252 | €36,105 | +€33,854 | +1,503% |
| Profit (loss) for the period to be appropriated | 9905 | €2,252 | €36,105 | +€33,854 | +1,503% |
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.