NIVOLO: 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
NIVOLO
NACE 43.230, Insulation installation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€156,084
2024 · €415,415-€259,331
Equity
€1.0m
2024 · €885,755+€156,084
Cash
€606,507
2024 · €153,525+€452,982
Balance sheet total
€9.5m
2024 · €6.8m+€2.7m
Largest movements
Assets
- Tangible fixed assets +€1.3m
up €1.3m (+59.2%), from €2.2m to €3.5m
of which Furniture and vehicles: +€812,434
- Deferred charges and accrued income +€609,956
up €609,956 (+1402.8%), from €43,481 to €653,437
- Cash +€452,982
up €452,982 (+295.1%), from €153,525 to €606,507
mainly Debts after one year (+€2.2m) and Trade debts (+€1.1m)
- Intangible fixed assets +€256,608
up €256,608 (+138.6%), from €185,177 to €441,785
- Receivables within one year +€249,102
up €249,102 (+6.6%), from €3.8m to €4.0m
of which Other amounts receivable: +€231,199
Equity and liabilities
- Debts after one year +€2.2m
up €2.2m (+124.0%), from €1.8m to €4.0m
of which Other amounts payable: +€1.4m
- Short-term financial debts -€1.1m
down €1.1m (-97.1%), from €1.2m to €33,652
of which Credit institutions: -€1.2m
- Trade debts +€1.1m
up €1.1m (+63.1%), from €1.7m to €2.8m
- Accrued charges and deferred income +€442,752
up €442,752, from €0 to €442,752
- Current portion of long-term debt +€346,734
up €346,734 (+79.6%), from €435,374 to €782,108
Income statement
- Turnover +€2.1m
up €2.1m (+12.5%), from €16.8m to €18.8m
- Goods and materials +€1.7m
up €1.7m (+17.7%), from €9.6m to €11.3m
of which Purchases: +€1.3m
- Services and other goods +€598,458
up €598,458 (+16.2%), from €3.7m to €4.3m
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
€415,415
Turnover
+€2.1m
Other operating income
-€121,025
Goods and materials
-€1.7m
Services and other goods
-€598,458
Staff costs
+€68,129
Depreciation
-€80,175
Write-downs
+€187,420
Other operating charges
-€20,011
Other operating items
-€17,805
Financial income
-€8,622
Financial charges
-€12,494
Taxes
-€38,031
Result 2025
€156,084
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
+€1.2m
Investment
-€2.2m
Financing
+€1.4m
Cash 2024
€153,525
From operations (derived)
+€1.2m
Net result for the year
+€156,084
Depreciation
+€594,941
Stocks and contracts
+€148,226
Receivables within one year
-€249,102
Deferred charges and accrued income
-€609,956
Trade debts
+€1.1m
Tax, wage and social debts
-€50,107
Other debts
-€339,762
Accrued charges and deferred income
+€442,752
Investment (derived)
-€2.2m
Investment in fixed assets (net)
-€2.2m
Current investments
+€8,616
Financing
+€1.4m
Debts after one year
+€2.2m
Current portion of long-term debt
+€346,734
Short-term financial debts
-€1.1m
Cash 2025
€606,507
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,814,404 | €9,543,296 | +€2.7m | +40.0% |
| Fixed assets | 21/28 | €2,429,421 | €4,003,112 | +€1.6m | +64.8% |
| Intangible fixed assets | 21 | €185,177 | €441,785 | +€256,608 | +138.6% |
| Tangible fixed assets | 22/27 | €2,224,309 | €3,541,393 | +€1.3m | +59.2% |
| Land and buildings | 22 | €1,049,138 | €1,052,122 | +€2,984 | +0.3% |
| Plant, machinery and equipment | 23 | €162,698 | €223,625 | +€60,927 | +37.4% |
| Furniture and vehicles | 24 | €929,590 | €1,742,023 | +€812,434 | +87.4% |
| Leasing and similar rights | 25 | €70,817 | €488,498 | +€417,681 | +589.8% |
| Other tangible fixed assets | 26 | €12,066 | €35,124 | +€23,059 | +191.1% |
| Financial fixed assets | 28 | €19,935 | €19,935 | = | 0.0% |
| Other financial fixed assets | 284/8 | €19,935 | €19,935 | = | 0.0% |
| Shares | 284 | €2,350 | €2,350 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €17,585 | €17,585 | = | 0.0% |
| Current assets | 29/58 | €4,384,984 | €5,540,183 | +€1.2m | +26.3% |
| Stocks and contracts in progress | 3 | €394,857 | €246,631 | -€148,226 | -37.5% |
| Stocks | 30/36 | €394,857 | €246,631 | -€148,226 | -37.5% |
| Goods purchased for resale | 34 | €394,857 | €246,631 | -€148,226 | -37.5% |
| Amounts receivable within one year | 40/41 | €3,781,191 | €4,030,293 | +€249,102 | +6.6% |
| Trade receivables | 40 | €2,584,689 | €2,602,593 | +€17,903 | +0.7% |
| Other amounts receivable | 41 | €1,196,501 | €1,427,701 | +€231,199 | +19.3% |
| Current investments | 50/53 | €11,930 | €3,314 | -€8,616 | -72.2% |
| Other investments | 51/53 | €11,930 | €3,314 | -€8,616 | -72.2% |
| Cash at bank and in hand | 54/58 | €153,525 | €606,507 | +€452,982 | +295.1% |
| Deferred charges and accrued income | 490/1 | €43,481 | €653,437 | +€609,956 | +1402.8% |
| Total equity and liabilities | 10/49 | €6,814,404 | €9,543,296 | +€2.7m | +40.0% |
| Equity | 10/15 | €885,755 | €1,041,838 | +€156,084 | +17.6% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €847,155 | €1,003,238 | +€156,084 | +18.4% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €847,155 | €1,003,238 | +€156,084 | +18.4% |
| Amounts payable | 17/49 | €5,928,650 | €8,501,457 | +€2.6m | +43.4% |
| Amounts payable after more than one year | 17 | €1,805,664 | €4,043,902 | +€2.2m | +124.0% |
| Financial debts | 170/4 | €1,405,664 | €2,243,902 | +€838,238 | +59.6% |
| Leasing and similar obligations | 172 | €53,370 | €359,298 | +€305,928 | +573.2% |
| Credit institutions | 173 | €1,352,293 | €1,884,604 | +€532,310 | +39.4% |
| Other amounts payable | 178/9 | €400,000 | €1,800,000 | +€1.4m | +350.0% |
| Amounts payable within one year | 42/48 | €4,122,986 | €4,014,804 | -€108,182 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €435,374 | €782,108 | +€346,734 | +79.6% |
| Financial debts | 43 | €1,175,371 | €33,652 | -€1.1m | -97.1% |
| Credit institutions | 430/8 | €1,150,000 | €0 | -€1.2m | -100.0% |
| Other loans | 439 | €25,371 | €33,652 | +€8,282 | +32.6% |
| Trade debts | 44 | €1,706,600 | €2,783,271 | +€1.1m | +63.1% |
| Suppliers | 440/4 | €1,706,600 | €2,783,271 | +€1.1m | +63.1% |
| Taxes, remuneration and social security | 45 | €205,642 | €155,535 | -€50,107 | -24.4% |
| Taxes | 450/3 | €32,129 | €16,969 | -€15,159 | -47.2% |
| Remuneration and social security | 454/9 | €173,513 | €138,566 | -€34,948 | -20.1% |
| Other amounts payable | 47/48 | €600,000 | €260,238 | -€339,762 | -56.6% |
| Accrued charges and deferred income | 492/3 | €0 | €442,752 | +€442,752 | |
| Operating income | 70/76A | €16,955,741 | €18,936,829 | +€2.0m | +11.7% |
| Turnover | 70 | €16,751,065 | €18,840,560 | +€2.1m | +12.5% |
| Other operating income | 74 | €200,475 | €79,450 | -€121,025 | -60.4% |
| Non-recurring operating income | 76A | €4,200 | €16,819 | +€12,619 | +300.5% |
| Operating charges | 60/66A | €16,359,241 | €18,540,515 | +€2.2m | +13.3% |
| Goods for resale, raw materials and consumables | 60 | €9,638,455 | €11,346,209 | +€1.7m | +17.7% |
| Purchases | 600/8 | €9,900,916 | €11,197,984 | +€1.3m | +13.1% |
| Change in stocks: decrease (increase) | 609 | -€262,461 | €148,226 | +€410,687 | |
| Services and other goods | 61 | €3,691,837 | €4,290,295 | +€598,458 | +16.2% |
| Remuneration, social security and pensions | 62 | €2,195,962 | €2,127,833 | -€68,129 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €514,766 | €594,941 | +€80,175 | +15.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €268,607 | €81,187 | -€187,420 | -69.8% |
| Other operating charges | 640/8 | €30,880 | €50,892 | +€20,011 | +64.8% |
| Non-recurring operating charges | 66A | €18,734 | €49,158 | +€30,424 | +162.4% |
| Operating profit (loss) | 9901 | €596,499 | €396,314 | -€200,185 | -33.6% |
| Financial income | 75/76B | €57,132 | €48,510 | -€8,622 | -15.1% |
| Recurring financial income | 75 | €57,132 | €48,510 | -€8,622 | -15.1% |
| Income from current assets | 751 | €34,677 | €43,416 | +€8,739 | +25.2% |
| Other financial income | 752/9 | €22,455 | €5,094 | -€17,361 | -77.3% |
| Financial charges | 65/66B | €196,612 | €209,105 | +€12,494 | +6.4% |
| Recurring financial charges | 65 | €196,612 | €209,105 | +€12,494 | +6.4% |
| Debt charges | 650 | €143,042 | €128,548 | -€14,494 | -10.1% |
| Other financial charges | 652/9 | €53,570 | €80,557 | +€26,988 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €457,020 | €235,719 | -€221,301 | -48.4% |
| Income taxes | 67/77 | €41,605 | €79,635 | +€38,031 | +91.4% |
| Taxes | 670/3 | €41,605 | €79,635 | +€38,031 | +91.4% |
| Profit (loss) for the period | 9904 | €415,415 | €156,084 | -€259,331 | -62.4% |
| Transfer from tax-exempt reserves | 789 | €179,999 | €0 | -€179,999 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €595,414 | €156,084 | -€439,330 | -73.8% |
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 8 October 2026 via checked.be.