NIVATCHI: 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.
NIVATCHI
Largest movements
- Cash -€22,940
down €22,940 (-43.7%), from €52,482 to €29,542
mainly Contributions, distributions and other (-€47,267) and Trade debts (-€5,552)
- Deferred charges and accrued income -€9,569
down €9,569 (-73.8%), from €12,960 to €3,391
- Receivables within one year +€4,576
up €4,576, from €0 to €4,576
- Tangible fixed assets -€1,697
down €1,697 (-18.6%), from €9,102 to €7,405
of which Furniture and vehicles: -€2,521
- Financial fixed assets +€1,000
new in 2025: €1,000
- Reserves -€23,509
down €23,509 (-49.7%), from €47,267 to €23,758
- Trade debts -€5,552
down €5,552 (-52.0%), from €10,680 to €5,128
- Gross operating margin -€1,018
down €1,018 (-2.7%), from €38,140 to €37,122
- Financial charges +€394
up €394 (+39.9%), from €989 to €1,383
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 | €74,544 | €45,914 | -€28,631 | -38.4% |
| Fixed assets | 21/28 | €9,102 | €8,405 | -€697 | -7.7% |
| Tangible fixed assets | 22/27 | €9,102 | €7,405 | -€1,697 | -18.6% |
| Plant, machinery and equipment | 23 | - | €990 | +€990 | |
| Furniture and vehicles | 24 | €7,523 | €5,001 | -€2,521 | -33.5% |
| Other tangible fixed assets | 26 | €1,579 | €1,414 | -€166 | -10.5% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €65,442 | €37,509 | -€27,933 | -42.7% |
| Amounts receivable within one year | 40/41 | €0 | €4,576 | +€4,576 | |
| Other amounts receivable | 41 | €0 | €4,576 | +€4,576 | |
| Cash at bank and in hand | 54/58 | €52,482 | €29,542 | -€22,940 | -43.7% |
| Deferred charges and accrued income | 490/1 | €12,960 | €3,391 | -€9,569 | -73.8% |
| Total equity and liabilities | 10/49 | €74,544 | €45,914 | -€28,631 | -38.4% |
| Equity | 10/15 | €49,767 | €26,258 | -€23,509 | -47.2% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €47,267 | €23,758 | -€23,509 | -49.7% |
| Distributable reserves | 133 | €47,267 | €23,758 | -€23,509 | -49.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €24,777 | €19,655 | -€5,122 | -20.7% |
| Amounts payable within one year | 42/48 | €24,777 | €19,655 | -€5,122 | -20.7% |
| Trade debts | 44 | €10,680 | €5,128 | -€5,552 | -52.0% |
| Suppliers | 440/4 | €10,680 | €5,128 | -€5,552 | -52.0% |
| Taxes, remuneration and social security | 45 | €581 | €350 | -€231 | -39.7% |
| Taxes | 450/3 | €581 | €350 | -€231 | -39.7% |
| Other amounts payable | 47/48 | €13,515 | €14,177 | +€661 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,600 | €2,936 | +€336 | +12.9% |
| Other operating charges | 640/8 | €848 | €1,121 | +€272 | +32.1% |
| Gross operating margin | 9900 | €38,140 | €37,122 | -€1,018 | -2.7% |
| Operating profit (loss) | 9901 | €34,691 | €33,065 | -€1,626 | -4.7% |
| Financial charges | 65/66B | €989 | €1,383 | +€394 | +39.9% |
| Recurring financial charges | 65 | €989 | €1,383 | +€394 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €33,702 | €31,682 | -€2,020 | -6.0% |
| Income taxes | 67/77 | €8,294 | €7,924 | -€370 | -4.5% |
| Profit (loss) for the period | 9904 | €25,408 | €23,758 | -€1,650 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,408 | €23,758 | -€1,650 | -6.5% |
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 10 October 2026 via checked.be.