NIVEAU: 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.
NIVEAU
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Receivables within one year +€378,030
up €378,030 (+46.9%), from €806,141 to €1.2m
- Other debts -€291,412
down €291,412 (-93.7%), from €310,849 to €19,437
- Advances received +€291,411
new in 2025: €291,411
- Gross operating margin -€105,752
down €105,752, from €103,434 to -€2,319
- Taxes -€35,805
down €35,805 (-85.8%), from €41,740 to €5,935
- Financial income -€9,615
down €9,615 (-28.0%), from €34,397 to €24,781
- Financial charges -€7,292
down €7,292 (-52.4%), from €13,920 to €6,628
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 | €1,755,445 | €1,752,110 | -€3,335 | -0.2% |
| Current assets | 29/58 | €1,755,445 | €1,752,110 | -€3,335 | -0.2% |
| Stocks and contracts in progress | 3 | €485,317 | €497,250 | +€11,933 | +2.5% |
| Stocks | 30/36 | €485,317 | €497,250 | +€11,933 | +2.5% |
| Amounts receivable within one year | 40/41 | €806,141 | €1,184,172 | +€378,030 | +46.9% |
| Other amounts receivable | 41 | €806,141 | €1,184,172 | +€378,030 | +46.9% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €63,987 | €70,666 | +€6,680 | +10.4% |
| Deferred charges and accrued income | 490/1 | - | €22 | +€22 | |
| Total equity and liabilities | 10/49 | €1,755,445 | €1,752,110 | -€3,335 | -0.2% |
| Equity | 10/15 | €1,421,001 | €1,429,752 | +€8,751 | +0.6% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €1,117,900 | €1,126,600 | +€8,700 | +0.8% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Distributable reserves | 133 | €1,105,500 | €1,114,200 | +€8,700 | +0.8% |
| Profit (loss) carried forward | 14 | €179,101 | €179,152 | +€51 | 0.0% |
| Amounts payable | 17/49 | €334,444 | €322,358 | -€12,086 | -3.6% |
| Amounts payable within one year | 42/48 | €322,309 | €315,755 | -€6,554 | -2.0% |
| Trade debts | 44 | - | €137 | +€137 | |
| Suppliers | 440/4 | - | €137 | +€137 | |
| Advances received on contracts in progress | 46 | - | €291,411 | +€291,411 | |
| Taxes, remuneration and social security | 45 | €11,460 | €4,770 | -€6,690 | -58.4% |
| Taxes | 450/3 | €11,460 | €4,770 | -€6,690 | -58.4% |
| Other amounts payable | 47/48 | €310,849 | €19,437 | -€291,412 | -93.7% |
| Accrued charges and deferred income | 492/3 | €12,135 | €6,603 | -€5,532 | -45.6% |
| Other operating charges | 640/8 | €1,106 | €1,148 | +€42 | +3.8% |
| Gross operating margin | 9900 | €103,434 | -€2,319 | -€105,752 | |
| Operating profit (loss) | 9901 | €102,327 | -€3,467 | -€105,794 | |
| Financial income | 75/76B | €34,397 | €24,781 | -€9,615 | -28.0% |
| Recurring financial income | 75 | €34,397 | €24,781 | -€9,615 | -28.0% |
| Financial charges | 65/66B | €13,920 | €6,628 | -€7,292 | -52.4% |
| Recurring financial charges | 65 | €13,920 | €6,628 | -€7,292 | -52.4% |
| Profit (loss) for the period before taxes | 9903 | €122,803 | €14,686 | -€108,117 | -88.0% |
| Income taxes | 67/77 | €41,740 | €5,935 | -€35,805 | -85.8% |
| Profit (loss) for the period | 9904 | €81,063 | €8,751 | -€72,312 | -89.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,063 | €8,751 | -€72,312 | -89.2% |
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 5 October 2026 via checked.be.