NIVACON: 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.
NIVACON
Largest movements
- Stocks and contracts -€98,853
down €98,853 (-68.7%), from €143,853 to €45,000
- Receivables within one year +€25,063
up €25,063 (+140%), from €17,924 to €42,986
of which Trade receivables: +€23,487
- Tangible fixed assets +€18,171
up €18,171 (+26.2%), from €69,323 to €87,494
- Cash +€8,886
up €8,886 (+19.7%), from €45,058 to €53,944
mainly Stocks and contracts (+€98,853) and Net result for the year (+€52,243)
- Short-term financial debts -€100,000
down €100,000 (-100%), from €100,000 to €0
- Reserves +€32,450
up €32,450 (+47.4%), from €68,430 to €100,881
- Profit (loss) carried forward +€19,793
up €19,793, from -€19,793 to €0
- Tax, wage and social debts +€3,336
up €3,336 (+48.9%), from €6,820 to €10,156
- Gross operating margin +€57,744
up €57,744 (+123%), from €47,036 to €104,780
- Taxes +€15,471
up €15,471 (+9,841%), from €157 to €15,629
- Financial charges -€9,542
down €9,542 (-61.0%), from €15,631 to €6,089
- Other operating charges -€7,827
down €7,827 (-78.8%), from €9,928 to €2,101
- Depreciation -€3,260
down €3,260 (-14.1%), from €23,059 to €19,799
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 | €277,245 | €231,628 | -€45,617 | -16.5% |
| Fixed assets | 21/28 | €69,323 | €87,494 | +€18,171 | +26.2% |
| Tangible fixed assets | 22/27 | €69,323 | €87,494 | +€18,171 | +26.2% |
| Furniture and vehicles | 24 | €69,323 | €87,494 | +€18,171 | +26.2% |
| Current assets | 29/58 | €207,922 | €144,135 | -€63,788 | -30.7% |
| Stocks and contracts in progress | 3 | €143,853 | €45,000 | -€98,853 | -68.7% |
| Stocks | 30/36 | €143,853 | €45,000 | -€98,853 | -68.7% |
| Amounts receivable within one year | 40/41 | €17,924 | €42,986 | +€25,063 | +140% |
| Trade receivables | 40 | €16,045 | €39,532 | +€23,487 | +146% |
| Other amounts receivable | 41 | €1,879 | €3,455 | +€1,576 | +83.8% |
| Cash at bank and in hand | 54/58 | €45,058 | €53,944 | +€8,886 | +19.7% |
| Deferred charges and accrued income | 490/1 | €1,087 | €2,204 | +€1,117 | +103% |
| Total equity and liabilities | 10/49 | €277,245 | €231,628 | -€45,617 | -16.5% |
| Equity | 10/15 | €54,837 | €107,081 | +€52,243 | +95.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €68,430 | €100,881 | +€32,450 | +47.4% |
| Distributable reserves | 133 | €68,430 | €100,881 | +€32,450 | +47.4% |
| Profit (loss) carried forward | 14 | -€19,793 | €0 | +€19,793 | |
| Amounts payable | 17/49 | €222,408 | €124,548 | -€97,860 | -44.0% |
| Amounts payable within one year | 42/48 | €218,674 | €121,626 | -€97,049 | -44.4% |
| Financial debts | 43 | €100,000 | €0 | -€100,000 | -100% |
| Credit institutions | 430/8 | €100,000 | €0 | -€100,000 | -100% |
| Trade debts | 44 | €4,914 | €5,910 | +€997 | +20.3% |
| Suppliers | 440/4 | €4,914 | €5,910 | +€997 | +20.3% |
| Taxes, remuneration and social security | 45 | €6,820 | €10,156 | +€3,336 | +48.9% |
| Taxes | 450/3 | €6,820 | €10,156 | +€3,336 | +48.9% |
| Other amounts payable | 47/48 | €106,940 | €105,559 | -€1,381 | -1.3% |
| Accrued charges and deferred income | 492/3 | €3,734 | €2,922 | -€812 | -21.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,059 | €19,799 | -€3,260 | -14.1% |
| Other operating charges | 640/8 | €9,928 | €2,101 | -€7,827 | -78.8% |
| Non-recurring operating charges | 66A | - | €9,068 | +€9,068 | |
| Gross operating margin | 9900 | €47,036 | €104,780 | +€57,744 | +123% |
| Operating profit (loss) | 9901 | €14,049 | €73,812 | +€59,762 | +425% |
| Financial income | 75/76B | €113 | €149 | +€36 | +32.3% |
| Recurring financial income | 75 | €113 | €149 | +€36 | +32.3% |
| Financial charges | 65/66B | €15,631 | €6,089 | -€9,542 | -61.0% |
| Recurring financial charges | 65 | €15,631 | €6,089 | -€9,542 | -61.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,469 | €67,872 | +€69,341 | |
| Income taxes | 67/77 | €157 | €15,629 | +€15,471 | +9,841% |
| Profit (loss) for the period | 9904 | -€1,626 | €52,243 | +€53,870 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,626 | €52,243 | +€53,870 |
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 26 October 2026 via checked.be.