NIV: 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.
NIV
Largest movements
- Receivables within one year +€358,521
up €358,521 (+453.5%), from €79,054 to €437,575
of which Trade receivables: +€358,809
- Cash +€26,154
up €26,154 (+52.7%), from €49,603 to €75,757
mainly Net result for the year (+€330,703) and Tax, wage and social debts (+€122,872)
- Tangible fixed assets +€20,160
up €20,160 (+2.2%), from €920,874 to €941,034
of which Land and buildings: +€21,273
- Profit (loss) carried forward +€330,703
up €330,703 (+16317.8%), from €2,027 to €332,729
- Tax, wage and social debts +€122,872
up €122,872 (+849.2%), from €14,469 to €137,342
- Debts after one year -€39,931
down €39,931 (-4.7%), from €855,149 to €815,218
- Gross operating margin +€394,511
up €394,511 (+372.5%), from €105,922 to €500,432
- Taxes +€120,285
up €120,285 (+10573.1%), from €1,138 to €121,422
- Depreciation -€39,099
down €39,099 (-63.1%), from €61,963 to €22,864
- Financial charges -€16,091
down €16,091 (-37.5%), from €42,887 to €26,797
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 | €1,150,503 | €1,568,865 | +€418,362 | +36.4% |
| Fixed assets | 21/28 | €924,874 | €941,667 | +€16,793 | +1.8% |
| Tangible fixed assets | 22/27 | €920,874 | €941,034 | +€20,160 | +2.2% |
| Land and buildings | 22 | €914,385 | €935,659 | +€21,273 | +2.3% |
| Furniture and vehicles | 24 | €6,488 | €5,375 | -€1,113 | -17.2% |
| Financial fixed assets | 28 | €4,000 | €633 | -€3,367 | -84.2% |
| Current assets | 29/58 | €225,629 | €627,199 | +€401,569 | +178.0% |
| Amounts receivable after more than one year | 29 | €96,286 | €98,231 | +€1,945 | +2.0% |
| Other amounts receivable | 291 | €96,286 | €98,231 | +€1,945 | +2.0% |
| Amounts receivable within one year | 40/41 | €79,054 | €437,575 | +€358,521 | +453.5% |
| Trade receivables | 40 | €1,191 | €360,000 | +€358,809 | +30135.8% |
| Other amounts receivable | 41 | €77,863 | €77,575 | -€288 | -0.4% |
| Cash at bank and in hand | 54/58 | €49,603 | €75,757 | +€26,154 | +52.7% |
| Deferred charges and accrued income | 490/1 | €687 | €15,637 | +€14,949 | +2175.7% |
| Total equity and liabilities | 10/49 | €1,150,503 | €1,568,865 | +€418,362 | +36.4% |
| Equity | 10/15 | €231,968 | €562,671 | +€330,703 | +142.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €228,942 | €228,942 | = | 0.0% |
| Distributable reserves | 133 | €228,942 | €228,942 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,027 | €332,729 | +€330,703 | +16317.8% |
| Amounts payable | 17/49 | €918,535 | €1,006,194 | +€87,659 | +9.5% |
| Amounts payable after more than one year | 17 | €855,149 | €815,218 | -€39,931 | -4.7% |
| Financial debts | 170/4 | €855,149 | €815,218 | -€39,931 | -4.7% |
| Amounts payable within one year | 42/48 | €63,386 | €190,976 | +€127,590 | +201.3% |
| Current portion of amounts payable after more than one year | 42 | €43,729 | €39,931 | -€3,798 | -8.7% |
| Trade debts | 44 | €5,188 | €13,704 | +€8,516 | +164.2% |
| Suppliers | 440/4 | €5,188 | €13,704 | +€8,516 | +164.2% |
| Taxes, remuneration and social security | 45 | €14,469 | €137,342 | +€122,872 | +849.2% |
| Taxes | 450/3 | €14,469 | €137,342 | +€122,872 | +849.2% |
| Non-recurring operating income | 76A | €15,774 | €8,857 | -€6,917 | -43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,963 | €22,864 | -€39,099 | -63.1% |
| Other operating charges | 640/8 | €3,139 | €4,647 | +€1,508 | +48.1% |
| Gross operating margin | 9900 | €105,922 | €500,432 | +€394,511 | +372.5% |
| Operating profit (loss) | 9901 | €40,820 | €472,922 | +€432,101 | +1058.6% |
| Financial income | 75/76B | €5,232 | €6,000 | +€768 | +14.7% |
| Recurring financial income | 75 | €5,232 | €6,000 | +€768 | +14.7% |
| Financial charges | 65/66B | €42,887 | €26,797 | -€16,091 | -37.5% |
| Recurring financial charges | 65 | €42,887 | €26,797 | -€16,091 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | €3,164 | €452,125 | +€448,961 | +14188.3% |
| Income taxes | 67/77 | €1,138 | €121,422 | +€120,285 | +10573.1% |
| Profit (loss) for the period | 9904 | €2,027 | €330,703 | +€328,676 | +16217.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,027 | €330,703 | +€328,676 | +16217.8% |
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 30 September 2026 via checked.be.