NIVAN: 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.
NIVAN
Largest movements
- Tangible fixed assets +€9,362
up €9,362 (+179.4%), from €5,220 to €14,582
of which Other tangible fixed assets: +€6,875
- Cash -€3,203
down €3,203 (-11.5%), from €27,886 to €24,683
mainly Investment in fixed assets (net) (-€13,708) and Contributions, distributions and other (-€1,800)
- Tax, wage and social debts +€3,424
up €3,424 (+82.1%), from €4,169 to €7,593
- Reserves +€2,368
up €2,368 (+7.2%), from €32,935 to €35,303
of which Distributable reserves: +€2,368
- Depreciation -€2,081
down €2,081 (-32.4%), from €6,427 to €4,346
- Gross operating margin -€1,015
down €1,015 (-7.7%), from €13,104 to €12,089
- Other operating charges -€165
down €165 (-16.4%), from €1,010 to €845
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 | €45,059 | €51,125 | +€6,066 | +13.5% |
| Fixed assets | 21/28 | €5,220 | €14,582 | +€9,362 | +179.4% |
| Tangible fixed assets | 22/27 | €5,220 | €14,582 | +€9,362 | +179.4% |
| Plant, machinery and equipment | 23 | €2,636 | €955 | -€1,682 | -63.8% |
| Furniture and vehicles | 24 | €545 | €4,714 | +€4,169 | +764.5% |
| Other tangible fixed assets | 26 | €2,038 | €8,913 | +€6,875 | +337.3% |
| Current assets | 29/58 | €39,839 | €36,543 | -€3,296 | -8.3% |
| Amounts receivable within one year | 40/41 | €11,953 | €11,860 | -€93 | -0.8% |
| Trade receivables | 40 | €11,619 | €11,495 | -€124 | -1.1% |
| Other amounts receivable | 41 | €333 | €365 | +€31 | +9.4% |
| Cash at bank and in hand | 54/58 | €27,886 | €24,683 | -€3,203 | -11.5% |
| Total equity and liabilities | 10/49 | €45,059 | €51,125 | +€6,066 | +13.5% |
| Equity | 10/15 | €39,135 | €41,503 | +€2,368 | +6.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €32,935 | €35,303 | +€2,368 | +7.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,522 | €2,522 | = | 0.0% |
| Distributable reserves | 133 | €28,554 | €30,922 | +€2,368 | +8.3% |
| Amounts payable | 17/49 | €5,924 | €9,622 | +€3,698 | +62.4% |
| Amounts payable within one year | 42/48 | €5,924 | €9,622 | +€3,698 | +62.4% |
| Trade debts | 44 | €155 | €229 | +€74 | +48.0% |
| Suppliers | 440/4 | €155 | €229 | +€74 | +48.0% |
| Taxes, remuneration and social security | 45 | €4,169 | €7,593 | +€3,424 | +82.1% |
| Taxes | 450/3 | €4,169 | €7,593 | +€3,424 | +82.1% |
| Other amounts payable | 47/48 | €1,600 | €1,800 | +€200 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,427 | €4,346 | -€2,081 | -32.4% |
| Other operating charges | 640/8 | €1,010 | €845 | -€165 | -16.4% |
| Gross operating margin | 9900 | €13,104 | €12,089 | -€1,015 | -7.7% |
| Operating profit (loss) | 9901 | €5,668 | €6,899 | +€1,231 | +21.7% |
| Financial charges | 65/66B | €674 | €595 | -€78 | -11.6% |
| Recurring financial charges | 65 | €674 | €595 | -€78 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €4,994 | €6,303 | +€1,309 | +26.2% |
| Income taxes | 67/77 | €2,167 | €2,135 | -€31 | -1.4% |
| Profit (loss) for the period | 9904 | €2,828 | €4,168 | +€1,341 | +47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,828 | €4,168 | +€1,341 | +47.4% |
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 6 October 2026 via checked.be.