NIVALI: 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.
NIVALI
Largest movements
- Receivables within one year +€58,372
up €58,372 (+62.3%), from €93,728 to €152,100
of which Trade receivables: +€65,000
- Other debts +€103,156
up €103,156 (+49,232%), from €210 to €103,365
- Reserves -€51,483
down €51,483 (-31.7%), from €162,233 to €110,750
- Tax, wage and social debts +€12,688
up €12,688 (+219%), from €5,781 to €18,469
- Debts after one year -€8,678
down €8,678 (-17.7%), from €48,923 to €40,245
- Gross operating margin +€68,371
up €68,371 (+143%), from €47,654 to €116,025
- Taxes +€18,795
up €18,795 (+207%), from €9,069 to €27,864
- Financial charges +€2,812
up €2,812 (+171%), from €1,644 to €4,456
- Depreciation +€1,208
up €1,208 (+22.8%), from €5,305 to €6,513
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 | €234,455 | €293,876 | +€59,421 | +25.3% |
| Fixed assets | 21/28 | €108,449 | €108,717 | +€268 | +0.2% |
| Tangible fixed assets | 22/27 | €43,449 | €43,717 | +€268 | +0.6% |
| Plant, machinery and equipment | 23 | €90 | - | -€90 | |
| Furniture and vehicles | 24 | - | €6,032 | +€6,032 | |
| Other tangible fixed assets | 26 | €43,359 | €37,685 | -€5,674 | -13.1% |
| Financial fixed assets | 28 | €65,000 | €65,000 | = | 0.0% |
| Current assets | 29/58 | €126,006 | €185,159 | +€59,153 | +46.9% |
| Amounts receivable within one year | 40/41 | €93,728 | €152,100 | +€58,372 | +62.3% |
| Trade receivables | 40 | €27,100 | €92,100 | +€65,000 | +240% |
| Other amounts receivable | 41 | €66,628 | €60,000 | -€6,628 | -9.9% |
| Cash at bank and in hand | 54/58 | €32,277 | €33,059 | +€781 | +2.4% |
| Total equity and liabilities | 10/49 | €234,455 | €293,876 | +€59,421 | +25.3% |
| Equity | 10/15 | €167,233 | €115,750 | -€51,483 | -30.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €162,233 | €110,750 | -€51,483 | -31.7% |
| Distributable reserves | 133 | €162,233 | €110,750 | -€51,483 | -31.7% |
| Amounts payable | 17/49 | €67,222 | €178,126 | +€110,904 | +165% |
| Amounts payable after more than one year | 17 | €48,923 | €40,245 | -€8,678 | -17.7% |
| Financial debts | 170/4 | €48,923 | €40,245 | -€8,678 | -17.7% |
| Amounts payable within one year | 42/48 | €18,299 | €136,761 | +€118,462 | +647% |
| Current portion of amounts payable after more than one year | 42 | €12,138 | €14,815 | +€2,677 | +22.1% |
| Trade debts | 44 | €170 | €111 | -€58 | -34.4% |
| Suppliers | 440/4 | €170 | €111 | -€58 | -34.4% |
| Taxes, remuneration and social security | 45 | €5,781 | €18,469 | +€12,688 | +219% |
| Taxes | 450/3 | €5,781 | €18,469 | +€12,688 | +219% |
| Other amounts payable | 47/48 | €210 | €103,365 | +€103,156 | +49,232% |
| Accrued charges and deferred income | 492/3 | - | €1,120 | +€1,120 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,305 | €6,513 | +€1,208 | +22.8% |
| Other operating charges | 640/8 | €1,128 | €778 | -€350 | -31.0% |
| Gross operating margin | 9900 | €47,654 | €116,025 | +€68,371 | +143% |
| Operating profit (loss) | 9901 | €41,221 | €108,734 | +€67,513 | +164% |
| Financial charges | 65/66B | €1,644 | €4,456 | +€2,812 | +171% |
| Recurring financial charges | 65 | €1,644 | €4,456 | +€2,812 | +171% |
| Profit (loss) for the period before taxes | 9903 | €39,577 | €104,278 | +€64,701 | +163% |
| Income taxes | 67/77 | €9,069 | €27,864 | +€18,795 | +207% |
| Profit (loss) for the period | 9904 | €30,508 | €76,414 | +€45,906 | +150% |
| Profit (loss) for the period to be appropriated | 9905 | €30,508 | €76,414 | +€45,906 | +150% |
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 27 October 2026 via checked.be.