NIVARE: 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.
NIVARE
Largest movements
- Stocks and contracts +€19,774
new in 2025: €19,774
- Cash -€3,121
down €3,121 (-7.2%), from €43,572 to €40,451
mainly Stocks and contracts (-€19,774) and Investment in fixed assets (net) (-€2,738)
- Tangible fixed assets +€2,303
up €2,303 (+190%), from €1,214 to €3,517
of which Other tangible fixed assets: +€2,303
- Profit (loss) carried forward +€12,623
up €12,623 (+160%), from €7,878 to €20,502
- Tax, wage and social debts +€2,920
up €2,920 (+2,093%), from €140 to €3,060
- Trade debts +€2,242
up €2,242 (+572%), from €392 to €2,634
- Gross operating margin +€28,361
up €28,361, from -€14,731 to €13,630
- Other operating charges -€5,258
down €5,258 (-86.0%), from €6,111 to €853
- Financial income -€2,403
down €2,403 (-76.3%), from €3,150 to €747
- Financial charges -€968
down €968 (-94.7%), from €1,022 to €54
- Depreciation +€812
up €812 (+2,285%), from €36 to €847
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 | €76,160 | €94,282 | +€18,123 | +23.8% |
| Fixed assets | 21/28 | €1,626 | €3,517 | +€1,891 | +116% |
| Tangible fixed assets | 22/27 | €1,214 | €3,517 | +€2,303 | +190% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €1,214 | €3,517 | +€2,303 | +190% |
| Financial fixed assets | 28 | €412 | - | -€412 | |
| Current assets | 29/58 | €74,534 | €90,765 | +€16,231 | +21.8% |
| Amounts receivable after more than one year | 29 | €30,500 | €30,500 | = | 0.0% |
| Other amounts receivable | 291 | €30,500 | €30,500 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €19,774 | +€19,774 | |
| Stocks | 30/36 | - | €19,774 | +€19,774 | |
| Amounts receivable within one year | 40/41 | €165 | - | -€165 | |
| Other amounts receivable | 41 | €165 | - | -€165 | |
| Cash at bank and in hand | 54/58 | €43,572 | €40,451 | -€3,121 | -7.2% |
| Deferred charges and accrued income | 490/1 | €296 | €40 | -€256 | -86.5% |
| Total equity and liabilities | 10/49 | €76,160 | €94,282 | +€18,123 | +23.8% |
| Equity | 10/15 | €74,598 | €87,222 | +€12,623 | +16.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €48,128 | €48,128 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,942 | €3,942 | = | 0.0% |
| Distributable reserves | 133 | €44,186 | €44,186 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,878 | €20,502 | +€12,623 | +160% |
| Amounts payable | 17/49 | €1,561 | €7,061 | +€5,499 | +352% |
| Amounts payable within one year | 42/48 | €1,561 | €7,061 | +€5,499 | +352% |
| Trade debts | 44 | €392 | €2,634 | +€2,242 | +572% |
| Suppliers | 440/4 | €392 | €2,634 | +€2,242 | +572% |
| Taxes, remuneration and social security | 45 | €140 | €3,060 | +€2,920 | +2,093% |
| Taxes | 450/3 | €140 | €3,060 | +€2,920 | +2,093% |
| Other amounts payable | 47/48 | €1,030 | €1,367 | +€337 | +32.8% |
| Non-recurring operating income | 76A | - | €207 | +€207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36 | €847 | +€812 | +2,285% |
| Other operating charges | 640/8 | €6,111 | €853 | -€5,258 | -86.0% |
| Gross operating margin | 9900 | -€14,731 | €13,630 | +€28,361 | |
| Operating profit (loss) | 9901 | -€20,877 | €11,930 | +€32,808 | |
| Financial income | 75/76B | €3,150 | €747 | -€2,403 | -76.3% |
| Recurring financial income | 75 | €3,150 | €747 | -€2,403 | -76.3% |
| Financial charges | 65/66B | €1,022 | €54 | -€968 | -94.7% |
| Recurring financial charges | 65 | €1,022 | €54 | -€968 | -94.7% |
| Profit (loss) for the period before taxes | 9903 | -€18,749 | €12,623 | +€31,373 | |
| Income taxes | 67/77 | €20 | - | -€20 | |
| Profit (loss) for the period | 9904 | -€18,769 | €12,623 | +€31,393 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,769 | €12,623 | +€31,393 |
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 14 October 2026 via checked.be.