NIVOA: 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.
NIVOA
Largest movements
- Cash +€19,768
up €19,768 (+226%), from €8,735 to €28,503
mainly Net result for the year (+€43,081) and Depreciation (+€15,750)
- Tangible fixed assets -€15,750
down €15,750 (-6.9%), from €229,485 to €213,735
of which Land and buildings: -€11,912
- Receivables within one year +€4,246
up €4,246 (+24.5%), from €17,313 to €21,560
of which Other amounts receivable: +€4,397
- Profit (loss) carried forward +€43,081
up €43,081 (+78.5%), from -€54,861 to -€11,779
- Other debts -€19,737
down €19,737 (-14.6%), from €134,839 to €115,101
- Debts after one year -€14,173
down €14,173 (-25.0%), from €56,689 to €42,516
- Gross operating margin +€64,077
up €64,077 (+748%), from €8,562 to €72,639
- Taxes +€6,029
up €6,029, from -€462 to €5,567
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 | €267,729 | €275,983 | +€8,254 | +3.1% |
| Fixed assets | 21/28 | €241,313 | €225,562 | -€15,750 | -6.5% |
| Tangible fixed assets | 22/27 | €229,485 | €213,735 | -€15,750 | -6.9% |
| Land and buildings | 22 | €221,806 | €209,894 | -€11,912 | -5.4% |
| Plant, machinery and equipment | 23 | €586 | €381 | -€205 | -35.0% |
| Furniture and vehicles | 24 | €7,093 | €3,459 | -€3,634 | -51.2% |
| Financial fixed assets | 28 | €11,828 | €11,828 | = | 0.0% |
| Current assets | 29/58 | €26,416 | €50,420 | +€24,004 | +90.9% |
| Amounts receivable within one year | 40/41 | €17,313 | €21,560 | +€4,246 | +24.5% |
| Trade receivables | 40 | €8,368 | €8,217 | -€150 | -1.8% |
| Other amounts receivable | 41 | €8,946 | €13,342 | +€4,397 | +49.1% |
| Cash at bank and in hand | 54/58 | €8,735 | €28,503 | +€19,768 | +226% |
| Deferred charges and accrued income | 490/1 | €368 | €358 | -€11 | -2.9% |
| Total equity and liabilities | 10/49 | €267,729 | €275,983 | +€8,254 | +3.1% |
| Equity | 10/15 | €61,399 | €104,481 | +€43,081 | +70.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €97,660 | €97,660 | = | 0.0% |
| Distributable reserves | 133 | €97,660 | €97,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,861 | -€11,779 | +€43,081 | +78.5% |
| Amounts payable | 17/49 | €206,330 | €171,502 | -€34,828 | -16.9% |
| Amounts payable after more than one year | 17 | €56,689 | €42,516 | -€14,173 | -25.0% |
| Financial debts | 170/4 | €56,689 | €42,516 | -€14,173 | -25.0% |
| Amounts payable within one year | 42/48 | €148,378 | €128,071 | -€20,308 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €6,567 | €6,673 | +€106 | +1.6% |
| Trade debts | 44 | €732 | €1,333 | +€601 | +82.1% |
| Suppliers | 440/4 | €732 | €1,333 | +€601 | +82.1% |
| Taxes, remuneration and social security | 45 | €6,241 | €4,964 | -€1,277 | -20.5% |
| Taxes | 450/3 | €6,241 | €4,964 | -€1,277 | -20.5% |
| Other amounts payable | 47/48 | €134,839 | €115,101 | -€19,737 | -14.6% |
| Accrued charges and deferred income | 492/3 | €1,263 | €916 | -€347 | -27.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,989 | €15,750 | -€238 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,160 | €4,436 | +€276 | +6.6% |
| Gross operating margin | 9900 | €8,562 | €72,639 | +€64,077 | +748% |
| Operating profit (loss) | 9901 | -€11,586 | €52,453 | +€64,039 | |
| Financial income | 75/76B | €10 | €84 | +€74 | +730% |
| Recurring financial income | 75 | €10 | €84 | +€74 | +730% |
| Financial charges | 65/66B | €4,064 | €3,889 | -€175 | -4.3% |
| Recurring financial charges | 65 | €4,064 | €3,889 | -€175 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | -€15,640 | €48,648 | +€64,288 | |
| Income taxes | 67/77 | -€462 | €5,567 | +€6,029 | |
| Profit (loss) for the period | 9904 | -€15,178 | €43,081 | +€58,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,178 | €43,081 | +€58,259 |
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 15 October 2026 via checked.be.