NIVEKA: 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.
NIVEKA
Largest movements
- Tangible fixed assets +€663,074
up €663,074 (+67.2%), from €986,767 to €1.6m
of which Land and buildings: +€715,448
- Current investments -€579,399
down €579,399 (-89.2%), from €649,838 to €70,439
- Stocks and contracts +€95,617
up €95,617 (+72.9%), from €131,193 to €226,810
- Receivables within one year -€43,831
down €43,831 (-43.7%), from €100,238 to €56,407
of which Trade receivables: -€43,894
- Cash +€33,155
up €33,155 (+89.2%), from €37,165 to €70,320
mainly Current investments (+€579,399) and Debts after one year (+€258,250)
- Debts after one year +€258,250
up €258,250 (+191%), from €135,500 to €393,750
- Other debts -€202,885
down €202,885 (-50.2%), from €404,481 to €201,596
- Reserves +€170,245
up €170,245 (+13.4%), from €1.3m to €1.4m
of which Distributable reserves: +€172,104
- Trade debts -€55,231
down €55,231 (-90.7%), from €60,874 to €5,643
- Tax, wage and social debts -€23,797
down €23,797 (-32.0%), from €74,262 to €50,465
of which Taxes: -€22,388
- Gross operating margin +€48,784
up €48,784 (+11.3%), from €430,499 to €479,283
- Depreciation +€48,626
up €48,626 (+51.1%), from €95,236 to €143,862
- Financial charges +€6,612
up €6,612 (+126%), from €5,251 to €11,863
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 | €1,974,979 | €2,137,929 | +€162,950 | +8.3% |
| Fixed assets | 21/28 | €1,051,283 | €1,707,189 | +€655,906 | +62.4% |
| Intangible fixed assets | 21 | €64,516 | €57,348 | -€7,168 | -11.1% |
| Tangible fixed assets | 22/27 | €986,767 | €1,649,841 | +€663,074 | +67.2% |
| Land and buildings | 22 | €829,206 | €1,544,654 | +€715,448 | +86.3% |
| Plant, machinery and equipment | 23 | €83,805 | €60,044 | -€23,761 | -28.4% |
| Furniture and vehicles | 24 | €73,756 | €45,143 | -€28,613 | -38.8% |
| Current assets | 29/58 | €923,696 | €430,740 | -€492,956 | -53.4% |
| Stocks and contracts in progress | 3 | €131,193 | €226,810 | +€95,617 | +72.9% |
| Stocks | 30/36 | €131,193 | €226,810 | +€95,617 | +72.9% |
| Amounts receivable within one year | 40/41 | €100,238 | €56,407 | -€43,831 | -43.7% |
| Trade receivables | 40 | €100,113 | €56,219 | -€43,894 | -43.8% |
| Other amounts receivable | 41 | €125 | €188 | +€63 | +50.4% |
| Current investments | 50/53 | €649,838 | €70,439 | -€579,399 | -89.2% |
| Cash at bank and in hand | 54/58 | €37,165 | €70,320 | +€33,155 | +89.2% |
| Deferred charges and accrued income | 490/1 | €5,262 | €6,764 | +€1,502 | +28.5% |
| Total equity and liabilities | 10/49 | €1,974,979 | €2,137,929 | +€162,950 | +8.3% |
| Equity | 10/15 | €1,285,268 | €1,455,513 | +€170,245 | +13.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,266,676 | €1,436,921 | +€170,245 | +13.4% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €1,264,817 | €1,436,921 | +€172,104 | +13.6% |
| Amounts payable | 17/49 | €689,711 | €682,416 | -€7,295 | -1.1% |
| Amounts payable after more than one year | 17 | €135,500 | €393,750 | +€258,250 | +191% |
| Financial debts | 170/4 | €135,500 | €393,750 | +€258,250 | +191% |
| Amounts payable within one year | 42/48 | €552,028 | €286,403 | -€265,625 | -48.1% |
| Current portion of amounts payable after more than one year | 42 | €12,411 | €28,699 | +€16,288 | +131% |
| Trade debts | 44 | €60,874 | €5,643 | -€55,231 | -90.7% |
| Suppliers | 440/4 | €60,874 | €5,643 | -€55,231 | -90.7% |
| Taxes, remuneration and social security | 45 | €74,262 | €50,465 | -€23,797 | -32.0% |
| Taxes | 450/3 | €60,067 | €37,679 | -€22,388 | -37.3% |
| Remuneration and social security | 454/9 | €14,195 | €12,786 | -€1,409 | -9.9% |
| Other amounts payable | 47/48 | €404,481 | €201,596 | -€202,885 | -50.2% |
| Accrued charges and deferred income | 492/3 | €2,183 | €2,263 | +€80 | +3.7% |
| Remuneration, social security and pensions | 62 | €66,231 | €67,613 | +€1,382 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,236 | €143,862 | +€48,626 | +51.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €911 | - | -€911 | |
| Other operating charges | 640/8 | €8,855 | €7,755 | -€1,100 | -12.4% |
| Gross operating margin | 9900 | €430,499 | €479,283 | +€48,784 | +11.3% |
| Operating profit (loss) | 9901 | €259,266 | €260,053 | +€787 | +0.3% |
| Financial income | 75/76B | €5,327 | €1,710 | -€3,617 | -67.9% |
| Recurring financial income | 75 | €5,327 | €1,710 | -€3,617 | -67.9% |
| Financial charges | 65/66B | €5,251 | €11,863 | +€6,612 | +126% |
| Recurring financial charges | 65 | €5,251 | €11,863 | +€6,612 | +126% |
| Profit (loss) for the period before taxes | 9903 | €259,342 | €249,900 | -€9,442 | -3.6% |
| Income taxes | 67/77 | €82,463 | €79,655 | -€2,808 | -3.4% |
| Profit (loss) for the period | 9904 | €176,879 | €170,245 | -€6,634 | -3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €176,879 | €170,245 | -€6,634 | -3.8% |
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 18 October 2026 via checked.be.