NIVISCO: 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.
NIVISCO
Largest movements
- Receivables after one year -€260,000
no longer reported in 2025 (was €260,000)
- Cash -€81,016
down €81,016 (-47.6%), from €170,167 to €89,151
mainly Contributions, distributions and other (-€450,000) and Tax, wage and social debts (-€13,406)
- Receivables within one year -€28,846
down €28,846 (-45.6%), from €63,252 to €34,405
of which Trade receivables: -€29,297
- Tangible fixed assets -€18,921
down €18,921 (-23.4%), from €80,916 to €61,994
of which Furniture and vehicles: -€16,371
- Profit (loss) carried forward -€365,461
down €365,461 (-80.9%), from €451,793 to €86,332
- Tax, wage and social debts -€13,406
down €13,406 (-18.6%), from €71,880 to €58,475
- Other debts -€5,895
down €5,895 (-14.5%), from €40,727 to €34,832
- Gross operating margin -€100,481
down €100,481 (-45.8%), from €219,260 to €118,779
- Taxes -€25,932
down €25,932 (-51.4%), from €50,471 to €24,540
- Depreciation +€12,700
up €12,700 (+169%), from €7,537 to €20,237
- Financial income +€4,277
up €4,277 (+42.6%), from €10,039 to €14,316
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 | €575,486 | €189,759 | -€385,727 | -67.0% |
| Fixed assets | 21/28 | €80,916 | €61,994 | -€18,921 | -23.4% |
| Tangible fixed assets | 22/27 | €80,916 | €61,994 | -€18,921 | -23.4% |
| Plant, machinery and equipment | 23 | €2,792 | €2,103 | -€688 | -24.7% |
| Furniture and vehicles | 24 | €65,314 | €48,943 | -€16,371 | -25.1% |
| Other tangible fixed assets | 26 | €12,810 | €10,948 | -€1,862 | -14.5% |
| Current assets | 29/58 | €494,570 | €127,765 | -€366,805 | -74.2% |
| Amounts receivable after more than one year | 29 | €260,000 | - | -€260,000 | |
| Other amounts receivable | 291 | €260,000 | - | -€260,000 | |
| Amounts receivable within one year | 40/41 | €63,252 | €34,405 | -€28,846 | -45.6% |
| Trade receivables | 40 | €63,232 | €33,935 | -€29,297 | -46.3% |
| Other amounts receivable | 41 | €19 | €470 | +€451 | +2,321% |
| Cash at bank and in hand | 54/58 | €170,167 | €89,151 | -€81,016 | -47.6% |
| Deferred charges and accrued income | 490/1 | €1,152 | €4,209 | +€3,057 | +265% |
| Total equity and liabilities | 10/49 | €575,486 | €189,759 | -€385,727 | -67.0% |
| Equity | 10/15 | €455,793 | €90,332 | -€365,461 | -80.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €451,793 | €86,332 | -€365,461 | -80.9% |
| Amounts payable | 17/49 | €119,693 | €99,427 | -€20,266 | -16.9% |
| Amounts payable within one year | 42/48 | €115,666 | €96,282 | -€19,384 | -16.8% |
| Trade debts | 44 | €3,059 | €2,975 | -€83 | -2.7% |
| Suppliers | 440/4 | €3,059 | €2,975 | -€83 | -2.7% |
| Taxes, remuneration and social security | 45 | €71,880 | €58,475 | -€13,406 | -18.6% |
| Taxes | 450/3 | €71,880 | €58,475 | -€13,406 | -18.6% |
| Other amounts payable | 47/48 | €40,727 | €34,832 | -€5,895 | -14.5% |
| Accrued charges and deferred income | 492/3 | €4,027 | €3,145 | -€882 | -21.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,537 | €20,237 | +€12,700 | +169% |
| Other operating charges | 640/8 | €449 | €462 | +€12 | +2.8% |
| Gross operating margin | 9900 | €219,260 | €118,779 | -€100,481 | -45.8% |
| Operating profit (loss) | 9901 | €211,274 | €98,080 | -€113,193 | -53.6% |
| Financial income | 75/76B | €10,039 | €14,316 | +€4,277 | +42.6% |
| Recurring financial income | 75 | €10,039 | €14,316 | +€4,277 | +42.6% |
| Financial charges | 65/66B | €4,166 | €3,317 | -€849 | -20.4% |
| Recurring financial charges | 65 | €4,166 | €3,317 | -€849 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €217,147 | €109,079 | -€108,068 | -49.8% |
| Income taxes | 67/77 | €50,471 | €24,540 | -€25,932 | -51.4% |
| Profit (loss) for the period | 9904 | €166,675 | €84,539 | -€82,136 | -49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €166,675 | €84,539 | -€82,136 | -49.3% |
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 20 October 2026 via checked.be.