NIVARI: 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.
NIVARI
Largest movements
- Tangible fixed assets +€9,729
up €9,729 (+53.2%), from €18,302 to €28,031
of which Other tangible fixed assets: +€8,175
- Stocks and contracts -€4,409
down €4,409 (-8.7%), from €50,436 to €46,027
- Other debts +€21,471
up €21,471 (+997.5%), from €2,152 to €23,623
- Reserves -€17,605
down €17,605 (-9.2%), from €190,924 to €173,320
- Current portion of long-term debt -€4,333
no longer reported in 2025 (was €4,333)
- Gross operating margin -€25,430
down €25,430 (-13.4%), from €190,108 to €164,678
- Staff costs -€9,611
down €9,611 (-6.7%), from €143,866 to €134,255
- Taxes -€3,337
down €3,337 (-32.8%), from €10,189 to €6,852
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 | €333,942 | €335,750 | +€1,808 | +0.5% |
| Fixed assets | 21/28 | €18,302 | €28,031 | +€9,729 | +53.2% |
| Tangible fixed assets | 22/27 | €18,302 | €28,031 | +€9,729 | +53.2% |
| Land and buildings | 22 | €4,107 | €8,923 | +€4,816 | +117.3% |
| Plant, machinery and equipment | 23 | €295 | €2,384 | +€2,089 | +707.7% |
| Furniture and vehicles | 24 | €13,899 | €8,548 | -€5,351 | -38.5% |
| Other tangible fixed assets | 26 | - | €8,175 | +€8,175 | |
| Current assets | 29/58 | €315,640 | €307,719 | -€7,921 | -2.5% |
| Stocks and contracts in progress | 3 | €50,436 | €46,027 | -€4,409 | -8.7% |
| Stocks | 30/36 | €50,436 | €46,027 | -€4,409 | -8.7% |
| Amounts receivable within one year | 40/41 | €14,030 | €14,556 | +€525 | +3.7% |
| Trade receivables | 40 | €8,607 | €865 | -€7,742 | -90.0% |
| Other amounts receivable | 41 | €5,423 | €13,691 | +€8,268 | +152.4% |
| Cash at bank and in hand | 54/58 | €246,350 | €244,659 | -€1,692 | -0.7% |
| Deferred charges and accrued income | 490/1 | €4,824 | €2,479 | -€2,345 | -48.6% |
| Total equity and liabilities | 10/49 | €333,942 | €335,750 | +€1,808 | +0.5% |
| Equity | 10/15 | €301,443 | €283,839 | -€17,605 | -5.8% |
| Contributions | 10/11 | €17,112 | €17,112 | = | 0.0% |
| Reserves | 13 | €190,924 | €173,320 | -€17,605 | -9.2% |
| Distributable reserves | 133 | €190,924 | €173,320 | -€17,605 | -9.2% |
| Profit (loss) carried forward | 14 | €93,407 | €93,407 | = | 0.0% |
| Amounts payable | 17/49 | €32,499 | €51,911 | +€19,413 | +59.7% |
| Amounts payable within one year | 42/48 | €32,499 | €51,911 | +€19,413 | +59.7% |
| Current portion of amounts payable after more than one year | 42 | €4,333 | - | -€4,333 | |
| Financial debts | 43 | €3,750 | €3,750 | = | 0.0% |
| Credit institutions | 430/8 | €3,750 | €3,750 | = | 0.0% |
| Trade debts | 44 | €4,682 | €3,699 | -€983 | -21.0% |
| Suppliers | 440/4 | €4,682 | €3,699 | -€983 | -21.0% |
| Taxes, remuneration and social security | 45 | €17,582 | €20,839 | +€3,257 | +18.5% |
| Taxes | 450/3 | €7,709 | €6,952 | -€758 | -9.8% |
| Remuneration and social security | 454/9 | €9,873 | €13,888 | +€4,015 | +40.7% |
| Other amounts payable | 47/48 | €2,152 | €23,623 | +€21,471 | +997.5% |
| Remuneration, social security and pensions | 62 | €143,866 | €134,255 | -€9,611 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,804 | €8,068 | -€736 | -8.4% |
| Other operating charges | 640/8 | €2,098 | €2,029 | -€69 | -3.3% |
| Gross operating margin | 9900 | €190,108 | €164,678 | -€25,430 | -13.4% |
| Operating profit (loss) | 9901 | €35,341 | €20,327 | -€15,015 | -42.5% |
| Financial income | 75/76B | €4,191 | €4,489 | +€299 | +7.1% |
| Recurring financial income | 75 | €4,191 | €4,489 | +€299 | +7.1% |
| Financial charges | 65/66B | €6,189 | €4,477 | -€1,713 | -27.7% |
| Recurring financial charges | 65 | €6,189 | €4,477 | -€1,713 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €33,343 | €20,339 | -€13,004 | -39.0% |
| Income taxes | 67/77 | €10,189 | €6,852 | -€3,337 | -32.8% |
| Profit (loss) for the period | 9904 | €23,154 | €13,487 | -€9,667 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,154 | €13,487 | -€9,667 | -41.7% |
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 4 October 2026 via checked.be.