NIVERO: 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.
NIVERO
Largest movements
- Current investments +€44,831
up €44,831 (+44.0%), from €101,907 to €146,738
- Tangible fixed assets -€40,093
down €40,093 (-13.9%), from €289,319 to €249,226
of which Land and buildings: -€35,944
- Receivables within one year -€23,378
no longer reported in 2025 (was €23,378)
- Cash +€14,261
up €14,261 (+54.3%), from €26,267 to €40,529
mainly Net result for the year (+€54,665) and Depreciation (+€40,093)
- Debts after one year -€23,891
down €23,891 (-79.6%), from €30,009 to €6,118
- Other debts +€18,625
up €18,625 (+56.5%), from €32,989 to €51,614
- Reserves +€5,040
up €5,040 (+1.8%), from €276,486 to €281,526
of which Distributable reserves: +€5,040
- Gross operating margin +€30,534
up €30,534 (+31.1%), from €98,068 to €128,603
- Taxes +€10,612
up €10,612 (+69.4%), from €15,285 to €25,897
- Financial income +€1,770
up €1,770 (+122%), from €1,453 to €3,223
of which Non-recurring financial income: +€2,704
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 | €443,923 | €442,580 | -€1,343 | -0.3% |
| Fixed assets | 21/28 | €289,579 | €249,486 | -€40,093 | -13.8% |
| Tangible fixed assets | 22/27 | €289,319 | €249,226 | -€40,093 | -13.9% |
| Land and buildings | 22 | €269,452 | €233,508 | -€35,944 | -13.3% |
| Plant, machinery and equipment | 23 | €17,566 | €14,815 | -€2,751 | -15.7% |
| Furniture and vehicles | 24 | €2,302 | €903 | -€1,399 | -60.8% |
| Financial fixed assets | 28 | €260 | €260 | = | 0.0% |
| Current assets | 29/58 | €154,344 | €193,094 | +€38,750 | +25.1% |
| Amounts receivable within one year | 40/41 | €23,378 | - | -€23,378 | |
| Other amounts receivable | 41 | €23,378 | - | -€23,378 | |
| Current investments | 50/53 | €101,907 | €146,738 | +€44,831 | +44.0% |
| Cash at bank and in hand | 54/58 | €26,267 | €40,529 | +€14,261 | +54.3% |
| Deferred charges and accrued income | 490/1 | €2,792 | €5,827 | +€3,035 | +109% |
| Total equity and liabilities | 10/49 | €443,923 | €442,580 | -€1,343 | -0.3% |
| Equity | 10/15 | €338,678 | €343,743 | +€5,065 | +1.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Contributions outside capital | 11 | €62,000 | €62,000 | = | 0.0% |
| Share premium | 1100/10 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €276,486 | €281,526 | +€5,040 | +1.8% |
| Tax-exempt reserves | 132 | €13,586 | €13,586 | = | 0.0% |
| Distributable reserves | 133 | €262,900 | €267,940 | +€5,040 | +1.9% |
| Profit (loss) carried forward | 14 | €192 | €217 | +€25 | +12.9% |
| Amounts payable | 17/49 | €105,245 | €98,836 | -€6,408 | -6.1% |
| Amounts payable after more than one year | 17 | €30,009 | €6,118 | -€23,891 | -79.6% |
| Financial debts | 170/4 | €30,009 | €6,118 | -€23,891 | -79.6% |
| Amounts payable within one year | 42/48 | €66,140 | €83,434 | +€17,293 | +26.1% |
| Current portion of amounts payable after more than one year | 42 | €22,987 | €23,891 | +€904 | +3.9% |
| Trade debts | 44 | €264 | €106 | -€158 | -59.8% |
| Suppliers | 440/4 | €264 | €106 | -€158 | -59.8% |
| Taxes, remuneration and social security | 45 | €9,900 | €7,823 | -€2,077 | -21.0% |
| Taxes | 450/3 | €9,900 | €7,823 | -€2,077 | -21.0% |
| Other amounts payable | 47/48 | €32,989 | €51,614 | +€18,625 | +56.5% |
| Accrued charges and deferred income | 492/3 | €9,096 | €9,285 | +€189 | +2.1% |
| Non-recurring operating income | 76A | €500 | €2,500 | +€2,000 | +400% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,151 | €40,093 | -€58 | -0.1% |
| Other operating charges | 640/8 | €8,599 | €9,528 | +€929 | +10.8% |
| Non-recurring operating charges | 66A | €260 | - | -€260 | |
| Gross operating margin | 9900 | €98,068 | €128,603 | +€30,534 | +31.1% |
| Operating profit (loss) | 9901 | €49,058 | €78,982 | +€29,924 | +61.0% |
| Financial income | 75/76B | €1,453 | €3,223 | +€1,770 | +122% |
| Recurring financial income | 75 | €1,453 | €519 | -€934 | -64.3% |
| Non-recurring financial income | 76B | - | €2,704 | +€2,704 | |
| Financial charges | 65/66B | €2,520 | €1,642 | -€877 | -34.8% |
| Recurring financial charges | 65 | €2,520 | €1,642 | -€877 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €47,991 | €80,562 | +€32,571 | +67.9% |
| Income taxes | 67/77 | €15,285 | €25,897 | +€10,612 | +69.4% |
| Profit (loss) for the period | 9904 | €32,706 | €54,665 | +€21,959 | +67.1% |
| Profit (loss) for the period to be appropriated | 9905 | €32,706 | €54,665 | +€21,959 | +67.1% |
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 17 October 2026 via checked.be.