NITRAMVELD: 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.
NITRAMVELD
Largest movements
- Tangible fixed assets -€124,790
down €124,790 (-5.9%), from €2.1m to €2.0m
of which Land and buildings: -€124,626
- Cash +€86,520
up €86,520 (+118.6%), from €72,947 to €159,467
mainly Depreciation (+€129,162) and Net result for the year (+€86,939)
- Debts after one year -€161,568
down €161,568 (-13.3%), from €1.2m to €1.1m
- Profit (loss) carried forward +€62,589
up €62,589 (+40.5%), from €154,527 to €217,116
- Trade debts +€26,671
up €26,671 (+684.6%), from €3,896 to €30,567
- Reserves +€24,350
up €24,350 (+32.9%), from €73,940 to €98,290
of which Tax-exempt reserves: +€21,050
- Financial charges -€19,337
down €19,337 (-23.4%), from €82,463 to €63,126
- Gross operating margin +€9,610
up €9,610 (+3.1%), from €312,507 to €322,118
- Taxes +€8,022
up €8,022 (+37.8%), from €21,212 to €29,234
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 | €2,214,632 | €2,176,350 | -€38,282 | -1.7% |
| Fixed assets | 21/28 | €2,129,015 | €2,004,226 | -€124,790 | -5.9% |
| Tangible fixed assets | 22/27 | €2,129,015 | €2,004,226 | -€124,790 | -5.9% |
| Land and buildings | 22 | €2,128,852 | €2,004,226 | -€124,626 | -5.9% |
| Plant, machinery and equipment | 23 | €163 | €0 | -€163 | -100.0% |
| Current assets | 29/58 | €85,616 | €172,124 | +€86,508 | +101.0% |
| Amounts receivable within one year | 40/41 | €9,071 | €12,657 | +€3,586 | +39.5% |
| Trade receivables | 40 | - | €3,625 | +€3,625 | |
| Other amounts receivable | 41 | €9,071 | €9,032 | -€39 | -0.4% |
| Cash at bank and in hand | 54/58 | €72,947 | €159,467 | +€86,520 | +118.6% |
| Deferred charges and accrued income | 490/1 | €3,598 | €0 | -€3,598 | -100.0% |
| Total equity and liabilities | 10/49 | €2,214,632 | €2,176,350 | -€38,282 | -1.7% |
| Equity | 10/15 | €478,467 | €565,406 | +€86,939 | +18.2% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €73,940 | €98,290 | +€24,350 | +32.9% |
| Non-distributable reserves | 130/1 | €15,000 | €18,300 | +€3,300 | +22.0% |
| Legal reserve | 130 | €15,000 | €18,300 | +€3,300 | +22.0% |
| Tax-exempt reserves | 132 | €58,940 | €79,990 | +€21,050 | +35.7% |
| Profit (loss) carried forward | 14 | €154,527 | €217,116 | +€62,589 | +40.5% |
| Amounts payable | 17/49 | €1,736,165 | €1,610,944 | -€125,221 | -7.2% |
| Amounts payable after more than one year | 17 | €1,216,649 | €1,055,081 | -€161,568 | -13.3% |
| Financial debts | 170/4 | €1,216,649 | €1,055,081 | -€161,568 | -13.3% |
| Amounts payable within one year | 42/48 | €519,516 | €555,863 | +€36,347 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €161,568 | €161,568 | = | 0.0% |
| Trade debts | 44 | €3,896 | €30,567 | +€26,671 | +684.6% |
| Suppliers | 440/4 | €3,896 | €30,567 | +€26,671 | +684.6% |
| Taxes, remuneration and social security | 45 | €2,250 | €6,649 | +€4,399 | +195.5% |
| Taxes | 450/3 | €2,250 | €6,649 | +€4,399 | +195.5% |
| Other amounts payable | 47/48 | €351,802 | €357,079 | +€5,277 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,135 | €129,162 | -€1,973 | -1.5% |
| Other operating charges | 640/8 | €13,240 | €13,657 | +€416 | +3.1% |
| Gross operating margin | 9900 | €312,507 | €322,118 | +€9,610 | +3.1% |
| Operating profit (loss) | 9901 | €168,132 | €179,299 | +€11,167 | +6.6% |
| Financial income | 75/76B | €513 | €0 | -€513 | -100.0% |
| Recurring financial income | 75 | €513 | €0 | -€513 | -100.0% |
| Financial charges | 65/66B | €82,463 | €63,126 | -€19,337 | -23.4% |
| Recurring financial charges | 65 | €82,463 | €63,126 | -€19,337 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €86,181 | €116,173 | +€29,992 | +34.8% |
| Income taxes | 67/77 | €21,212 | €29,234 | +€8,022 | +37.8% |
| Profit (loss) for the period | 9904 | €64,969 | €86,939 | +€21,970 | +33.8% |
| Transfer to tax-exempt reserves | 689 | €16,840 | €21,050 | +€4,210 | +25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,129 | €65,889 | +€17,760 | +36.9% |
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 12 October 2026 via checked.be.