Nivinco: 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.
Nivinco
Largest movements
- Receivables within one year -€126,422
down €126,422 (-38.0%), from €332,750 to €206,328
of which Trade receivables: -€81,414
- Cash +€120,398
up €120,398 (+2,792%), from €4,312 to €124,709
mainly Receivables within one year (+€126,422) and Other debts (+€109,619)
- Stocks and contracts -€57,179
down €57,179 (-11.1%), from €514,798 to €457,618
- Current portion of long-term debt -€239,246
down €239,246 (-61.5%), from €389,246 to €150,000
- Other debts +€109,619
up €109,619 (+3,351%), from €3,272 to €112,890
- Short-term financial debts +€102,043
up €102,043 (+10,665%), from €957 to €103,000
- Profit (loss) carried forward -€50,191
new in 2025: -€50,191
- Tax, wage and social debts +€10,264
up €10,264 (+8.1%), from €127,130 to €137,394
of which Remuneration and social security: +€12,529
- Gross operating margin -€374,625
down €374,625 (-80.1%), from €467,872 to €93,247
- Taxes -€113,869
down €113,869 (-99.7%), from €114,231 to €361
- Staff costs +€40,031
up €40,031 (+43.0%), from €93,138 to €133,168
- Financial charges -€13,887
down €13,887 (-65.9%), from €21,089 to €7,201
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 | €855,609 | €793,482 | -€62,127 | -7.3% |
| Fixed assets | 21/28 | €524 | €322 | -€202 | -38.6% |
| Tangible fixed assets | 22/27 | €524 | €322 | -€202 | -38.6% |
| Plant, machinery and equipment | 23 | €524 | €322 | -€202 | -38.6% |
| Current assets | 29/58 | €855,085 | €793,160 | -€61,925 | -7.2% |
| Stocks and contracts in progress | 3 | €514,798 | €457,618 | -€57,179 | -11.1% |
| Stocks | 30/36 | €514,798 | €457,618 | -€57,179 | -11.1% |
| Amounts receivable within one year | 40/41 | €332,750 | €206,328 | -€126,422 | -38.0% |
| Trade receivables | 40 | €102,726 | €21,312 | -€81,414 | -79.3% |
| Other amounts receivable | 41 | €230,024 | €185,016 | -€45,008 | -19.6% |
| Cash at bank and in hand | 54/58 | €4,312 | €124,709 | +€120,398 | +2,792% |
| Deferred charges and accrued income | 490/1 | €3,225 | €4,504 | +€1,279 | +39.6% |
| Total equity and liabilities | 10/49 | €855,609 | €793,482 | -€62,127 | -7.3% |
| Equity | 10/15 | €296,249 | €244,462 | -€51,788 | -17.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €277,649 | €276,052 | -€1,597 | -0.6% |
| Distributable reserves | 133 | €277,649 | €276,052 | -€1,597 | -0.6% |
| Profit (loss) carried forward | 14 | - | -€50,191 | -€50,191 | |
| Amounts payable | 17/49 | €559,360 | €549,020 | -€10,340 | -1.8% |
| Amounts payable within one year | 42/48 | €559,360 | €548,052 | -€11,308 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €389,246 | €150,000 | -€239,246 | -61.5% |
| Financial debts | 43 | €957 | €103,000 | +€102,043 | +10,665% |
| Credit institutions | 430/8 | €957 | €103,000 | +€102,043 | +10,665% |
| Trade debts | 44 | €38,757 | €44,768 | +€6,012 | +15.5% |
| Suppliers | 440/4 | €38,757 | €44,768 | +€6,012 | +15.5% |
| Taxes, remuneration and social security | 45 | €127,130 | €137,394 | +€10,264 | +8.1% |
| Taxes | 450/3 | €121,726 | €119,461 | -€2,265 | -1.9% |
| Remuneration and social security | 454/9 | €5,404 | €17,933 | +€12,529 | +232% |
| Other amounts payable | 47/48 | €3,272 | €112,890 | +€109,619 | +3,351% |
| Accrued charges and deferred income | 492/3 | - | €968 | +€968 | |
| Remuneration, social security and pensions | 62 | €93,138 | €133,168 | +€40,031 | +43.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €354 | €202 | -€152 | -42.9% |
| Other operating charges | 640/8 | €5,094 | €4,380 | -€714 | -14.0% |
| Gross operating margin | 9900 | €467,872 | €93,247 | -€374,625 | -80.1% |
| Operating profit (loss) | 9901 | €369,286 | -€44,503 | -€413,790 | |
| Financial income | 75/76B | €57 | €278 | +€221 | +390% |
| Recurring financial income | 75 | €57 | €278 | +€221 | +390% |
| Financial charges | 65/66B | €21,089 | €7,201 | -€13,887 | -65.9% |
| Recurring financial charges | 65 | €21,089 | €7,201 | -€13,887 | -65.9% |
| Profit (loss) for the period before taxes | 9903 | €348,255 | -€51,426 | -€399,681 | |
| Income taxes | 67/77 | €114,231 | €361 | -€113,869 | -99.7% |
| Profit (loss) for the period | 9904 | €234,024 | -€51,788 | -€285,812 | |
| Profit (loss) for the period to be appropriated | 9905 | €234,024 | -€51,788 | -€285,812 |
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 29 October 2026 via checked.be.