NIVER Management: 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.
NIVER Management
Largest movements
- Receivables within one year +€100,848
up €100,848 (+594%), from €16,987 to €117,835
of which Trade receivables: +€100,706
- Tangible fixed assets +€84,423
up €84,423 (+232%), from €36,463 to €120,887
of which Furniture and vehicles: +€85,019
- Cash +€77,688
up €77,688 (+132%), from €58,754 to €136,442
mainly Net result for the year (+€274,992) and Other debts (+€192,353)
- Current investments +€25,000
up €25,000 (+33.3%), from €75,000 to €100,000
- Financial fixed assets +€18,000
up €18,000 (+31.0%), from €58,000 to €76,000
- Other debts +€192,353
up €192,353 (+122%), from €157,864 to €350,217
- Debts after one year +€87,458
up €87,458 (+752%), from €11,623 to €99,080
- Tax, wage and social debts +€38,295
up €38,295 (+498%), from €7,689 to €45,984
- Reserves -€15,103
down €15,103 (-100%), from €15,103 to €0
- Gross operating margin +€194,631
up €194,631 (+106%), from €183,926 to €378,557
- Taxes +€50,876
up €50,876 (+124%), from €41,163 to €92,039
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 | €245,746 | €551,164 | +€305,418 | +124% |
| Fixed assets | 21/28 | €94,463 | €196,887 | +€102,423 | +108% |
| Tangible fixed assets | 22/27 | €36,463 | €120,887 | +€84,423 | +232% |
| Plant, machinery and equipment | 23 | €892 | €296 | -€596 | -66.8% |
| Furniture and vehicles | 24 | €35,572 | €120,591 | +€85,019 | +239% |
| Financial fixed assets | 28 | €58,000 | €76,000 | +€18,000 | +31.0% |
| Current assets | 29/58 | €151,282 | €354,277 | +€202,994 | +134% |
| Amounts receivable within one year | 40/41 | €16,987 | €117,835 | +€100,848 | +594% |
| Trade receivables | 40 | €13,780 | €114,486 | +€100,706 | +731% |
| Other amounts receivable | 41 | €3,207 | €3,349 | +€142 | +4.4% |
| Current investments | 50/53 | €75,000 | €100,000 | +€25,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €58,754 | €136,442 | +€77,688 | +132% |
| Deferred charges and accrued income | 490/1 | €542 | €0 | -€542 | -100% |
| Total equity and liabilities | 10/49 | €245,746 | €551,164 | +€305,418 | +124% |
| Equity | 10/15 | €33,703 | €18,600 | -€15,103 | -44.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,103 | €0 | -€15,103 | -100% |
| Distributable reserves | 133 | €15,103 | €0 | -€15,103 | -100% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €212,043 | €532,564 | +€320,521 | +151% |
| Amounts payable after more than one year | 17 | €11,623 | €99,080 | +€87,458 | +752% |
| Financial debts | 170/4 | €11,623 | €99,080 | +€87,458 | +752% |
| Amounts payable within one year | 42/48 | €199,302 | €433,483 | +€234,182 | +118% |
| Current portion of amounts payable after more than one year | 42 | €33,373 | €36,595 | +€3,222 | +9.7% |
| Trade debts | 44 | €376 | €687 | +€312 | +83.0% |
| Suppliers | 440/4 | €376 | €687 | +€312 | +83.0% |
| Taxes, remuneration and social security | 45 | €7,689 | €45,984 | +€38,295 | +498% |
| Taxes | 450/3 | €7,689 | €45,984 | +€38,295 | +498% |
| Other amounts payable | 47/48 | €157,864 | €350,217 | +€192,353 | +122% |
| Accrued charges and deferred income | 492/3 | €1,119 | €0 | -€1,119 | -100% |
| Non-recurring operating income | 76A | - | €14,913 | +€14,913 | |
| Remuneration, social security and pensions | 62 | €656 | €0 | -€656 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,774 | €20,602 | -€1,171 | -5.4% |
| Other operating charges | 640/8 | €657 | €1,033 | +€376 | +57.2% |
| Gross operating margin | 9900 | €183,926 | €378,557 | +€194,631 | +106% |
| Operating profit (loss) | 9901 | €160,840 | €356,922 | +€196,082 | +122% |
| Financial income | 75/76B | €10,757 | €13,524 | +€2,767 | +25.7% |
| Recurring financial income | 75 | €1,774 | €1,324 | -€450 | -25.4% |
| Non-recurring financial income | 76B | €8,983 | €12,200 | +€3,217 | +35.8% |
| Financial charges | 65/66B | €2,437 | €3,416 | +€979 | +40.2% |
| Recurring financial charges | 65 | €2,437 | €3,416 | +€979 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €169,160 | €367,030 | +€197,870 | +117% |
| Income taxes | 67/77 | €41,163 | €92,039 | +€50,876 | +124% |
| Profit (loss) for the period | 9904 | €127,997 | €274,992 | +€146,995 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €127,997 | €274,992 | +€146,995 | +115% |
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 31 October 2026 via checked.be.