NIVA: 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.
NIVA
Largest movements
- Stocks and contracts -€88,465
down €88,465 (-62.9%), from €140,707 to €52,242
- Cash -€58,585
down €58,585 (-67.8%), from €86,352 to €27,767
mainly Short-term financial debts (-€60,000) and Trade debts (-€58,644)
- Receivables within one year +€31,096
up €31,096 (+61.4%), from €50,637 to €81,734
of which Trade receivables: +€39,051
- Short-term financial debts -€60,000
down €60,000 (-60.0%), from €100,000 to €40,000
- Trade debts -€58,644
down €58,644 (-78.3%), from €74,890 to €16,246
- Other debts -€28,249
down €28,249 (-27.0%), from €104,819 to €76,570
- Reserves +€23,896
up €23,896 (+99.5%), from €24,016 to €47,912
- Tax, wage and social debts +€5,244
up €5,244 (+49.7%), from €10,551 to €15,795
- Staff costs -€27,094
down €27,094 (-98.7%), from €27,457 to €364
- Financial charges -€7,002
down €7,002 (-60.8%), from €11,520 to €4,518
- Gross operating margin -€6,272
down €6,272 (-15.1%), from €41,536 to €35,264
- Taxes +€5,995
up €5,995 (+1220.2%), from €491 to €6,487
- Other operating charges -€575
down €575 (-100.0%), from €575 to €0
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 | €321,776 | €204,023 | -€117,752 | -36.6% |
| Current assets | 29/58 | €321,776 | €204,023 | -€117,752 | -36.6% |
| Stocks and contracts in progress | 3 | €140,707 | €52,242 | -€88,465 | -62.9% |
| Stocks | 30/36 | €140,707 | €52,242 | -€88,465 | -62.9% |
| Amounts receivable within one year | 40/41 | €50,637 | €81,734 | +€31,096 | +61.4% |
| Trade receivables | 40 | €42,655 | €81,705 | +€39,051 | +91.6% |
| Other amounts receivable | 41 | €7,983 | €28 | -€7,954 | -99.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €86,352 | €27,767 | -€58,585 | -67.8% |
| Deferred charges and accrued income | 490/1 | €44,079 | €42,280 | -€1,799 | -4.1% |
| Total equity and liabilities | 10/49 | €321,776 | €204,023 | -€117,752 | -36.6% |
| Equity | 10/15 | €31,516 | €55,412 | +€23,896 | +75.8% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €24,016 | €47,912 | +€23,896 | +99.5% |
| Distributable reserves | 133 | €24,016 | €47,912 | +€23,896 | +99.5% |
| Amounts payable | 17/49 | €290,260 | €148,612 | -€141,648 | -48.8% |
| Amounts payable within one year | 42/48 | €290,260 | €148,612 | -€141,648 | -48.8% |
| Financial debts | 43 | €100,000 | €40,000 | -€60,000 | -60.0% |
| Credit institutions | 430/8 | €100,000 | €40,000 | -€60,000 | -60.0% |
| Trade debts | 44 | €74,890 | €16,246 | -€58,644 | -78.3% |
| Suppliers | 440/4 | €74,890 | €16,246 | -€58,644 | -78.3% |
| Taxes, remuneration and social security | 45 | €10,551 | €15,795 | +€5,244 | +49.7% |
| Taxes | 450/3 | €10,551 | €15,795 | +€5,244 | +49.7% |
| Other amounts payable | 47/48 | €104,819 | €76,570 | -€28,249 | -27.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €27,457 | €364 | -€27,094 | -98.7% |
| Other operating charges | 640/8 | €575 | €0 | -€575 | -100.0% |
| Gross operating margin | 9900 | €41,536 | €35,264 | -€6,272 | -15.1% |
| Operating profit (loss) | 9901 | €13,504 | €34,901 | +€21,397 | +158.4% |
| Financial income | 75/76B | €54 | €0 | -€54 | -100.0% |
| Recurring financial income | 75 | €54 | €0 | -€54 | -100.0% |
| Financial charges | 65/66B | €11,520 | €4,518 | -€7,002 | -60.8% |
| Recurring financial charges | 65 | €11,520 | €4,518 | -€7,002 | -60.8% |
| Profit (loss) for the period before taxes | 9903 | €2,037 | €30,383 | +€28,346 | +1391.6% |
| Income taxes | 67/77 | €491 | €6,487 | +€5,995 | +1220.2% |
| Profit (loss) for the period | 9904 | €1,546 | €23,896 | +€22,350 | +1446.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,546 | €23,896 | +€22,350 | +1446.1% |
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 10 October 2026 via checked.be.