NIVETO: 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.
What changed
NIVETO
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€193,200
2024 · €216,600-€23,400
Equity
€1.0m
2024 · €817,766+€193,200
Cash
€4,066
2024 · €5,039-€974
Balance sheet total
€2.1m
2024 · €2.1m+€85,277
Largest movements
Assets
- Receivables within one year +€77,757
up €77,757 (+62.8%), from €123,761 to €201,518
of which Other amounts receivable: +€53,632
Equity and liabilities
- Reserves +€193,200
up €193,200 (+24.0%), from €805,366 to €998,566
- Debts after one year -€113,842
down €113,842 (-10.8%), from €1.1m to €940,558
Income statement
- Gross operating margin -€23,902
down €23,902 (-12.4%), from €192,435 to €168,533
- Financial charges -€5,862
down €5,862 (-16.8%), from €34,800 to €28,938
- Financial income -€3,188
down €3,188 (-2.4%), from €134,821 to €131,633
of which Non-recurring financial income: -€3,188
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.
Result 2024
€216,600
Gross operating margin
-€23,902
Depreciation
-€1,194
Other operating charges
-€841
Financial income
-€3,188
Financial charges
+€5,862
Taxes
-€138
Result 2025
€193,200
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.
From operations
+€129,451
Investment
-€17,773
Financing
-€112,652
Cash 2024
€5,039
From operations (derived)
+€129,451
Net result for the year
+€193,200
Depreciation
+€22,678
Receivables within one year
-€77,757
Deferred charges and accrued income
-€13,400
Trade debts
+€10,139
Tax, wage and social debts
-€5,629
Other debts
+€1,345
Accrued charges and deferred income
-€1,125
Investment (derived)
-€17,773
Investment in fixed assets (net)
-€8,984
Current investments
-€8,788
Financing
-€112,652
Debts after one year
-€113,842
Current portion of long-term debt
+€1,337
Short-term financial debts
-€148
Cash 2025
€4,066
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,050,254 | €2,135,531 | +€85,277 | +4.2% |
| Fixed assets | 21/28 | €1,873,955 | €1,860,261 | -€13,694 | -0.7% |
| Tangible fixed assets | 22/27 | €857,014 | €843,320 | -€13,694 | -1.6% |
| Land and buildings | 22 | €855,360 | €835,340 | -€20,020 | -2.3% |
| Plant, machinery and equipment | 23 | €1,632 | - | -€1,632 | |
| Furniture and vehicles | 24 | €22 | €7,980 | +€7,958 | +36024.9% |
| Financial fixed assets | 28 | €1,016,941 | €1,016,941 | = | 0.0% |
| Current assets | 29/58 | €176,299 | €275,270 | +€98,971 | +56.1% |
| Amounts receivable within one year | 40/41 | €123,761 | €201,518 | +€77,757 | +62.8% |
| Trade receivables | 40 | €75,875 | €100,000 | +€24,125 | +31.8% |
| Other amounts receivable | 41 | €47,886 | €101,518 | +€53,632 | +112.0% |
| Current investments | 50/53 | €47,498 | €56,287 | +€8,788 | +18.5% |
| Cash at bank and in hand | 54/58 | €5,039 | €4,066 | -€974 | -19.3% |
| Deferred charges and accrued income | 490/1 | - | €13,400 | +€13,400 | |
| Total equity and liabilities | 10/49 | €2,050,254 | €2,135,531 | +€85,277 | +4.2% |
| Equity | 10/15 | €817,766 | €1,010,966 | +€193,200 | +23.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €805,366 | €998,566 | +€193,200 | +24.0% |
| Distributable reserves | 133 | €805,366 | €998,566 | +€193,200 | +24.0% |
| Amounts payable | 17/49 | €1,232,487 | €1,124,565 | -€107,923 | -8.8% |
| Amounts payable after more than one year | 17 | €1,054,400 | €940,558 | -€113,842 | -10.8% |
| Financial debts | 170/4 | €1,054,400 | €940,558 | -€113,842 | -10.8% |
| Amounts payable within one year | 42/48 | €171,410 | €178,454 | +€7,045 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €112,504 | €113,842 | +€1,337 | +1.2% |
| Financial debts | 43 | €10,243 | €10,095 | -€148 | -1.4% |
| Other loans | 439 | €10,243 | €10,095 | -€148 | -1.4% |
| Trade debts | 44 | €1,001 | €11,140 | +€10,139 | +1013.3% |
| Suppliers | 440/4 | €1,001 | €11,140 | +€10,139 | +1013.3% |
| Taxes, remuneration and social security | 45 | €8,952 | €3,324 | -€5,629 | -62.9% |
| Taxes | 450/3 | €7,352 | €3,324 | -€4,029 | -54.8% |
| Remuneration and social security | 454/9 | €1,600 | - | -€1,600 | |
| Other amounts payable | 47/48 | €38,710 | €40,054 | +€1,345 | +3.5% |
| Accrued charges and deferred income | 492/3 | €6,678 | €5,552 | -€1,125 | -16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,484 | €22,678 | +€1,194 | +5.6% |
| Other operating charges | 640/8 | €27,111 | €27,952 | +€841 | +3.1% |
| Gross operating margin | 9900 | €192,435 | €168,533 | -€23,902 | -12.4% |
| Operating profit (loss) | 9901 | €143,839 | €117,903 | -€25,937 | -18.0% |
| Financial income | 75/76B | €134,821 | €131,633 | -€3,188 | -2.4% |
| Recurring financial income | 75 | €131,633 | €131,633 | = | 0.0% |
| Non-recurring financial income | 76B | €3,188 | - | -€3,188 | |
| Financial charges | 65/66B | €34,800 | €28,938 | -€5,862 | -16.8% |
| Recurring financial charges | 65 | €34,800 | €28,938 | -€5,862 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €243,860 | €220,597 | -€23,263 | -9.5% |
| Income taxes | 67/77 | €27,260 | €27,397 | +€138 | +0.5% |
| Profit (loss) for the period | 9904 | €216,600 | €193,200 | -€23,400 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €216,600 | €193,200 | -€23,400 | -10.8% |
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 6 October 2026 via checked.be.