NIVOTECH: 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.
NIVOTECH
Largest movements
- Current investments -€1.8m
down €1.8m (-29.9%), from €6.1m to €4.3m
- Reserves -€3.3m
down €3.3m (-51.5%), from €6.4m to €3.1m
of which Distributable reserves: -€3.3m
- Other debts +€1.2m
up €1.2m (+338%), from €363,861 to €1.6m
- Short-term financial debts +€112,000
new in 2025: €112,000
- Gross operating margin -€756,047
down €756,047 (-66.2%), from €1.1m to €385,607
- Taxes -€238,754
down €238,754 (-63.4%), from €376,496 to €137,742
- Financial income +€110,436
up €110,436 (+48.5%), from €227,542 to €337,978
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 | €6,794,149 | €4,956,851 | -€1.8m | -27.0% |
| Fixed assets | 21/28 | €655,301 | €603,598 | -€51,702 | -7.9% |
| Tangible fixed assets | 22/27 | €655,301 | €603,598 | -€51,702 | -7.9% |
| Land and buildings | 22 | €540,682 | €522,080 | -€18,603 | -3.4% |
| Plant, machinery and equipment | 23 | €10,102 | €8,875 | -€1,227 | -12.1% |
| Furniture and vehicles | 24 | €104,517 | €72,644 | -€31,872 | -30.5% |
| Current assets | 29/58 | €6,138,848 | €4,353,252 | -€1.8m | -29.1% |
| Amounts receivable within one year | 40/41 | €9 | €16,330 | +€16,322 | +190,454% |
| Trade receivables | 40 | - | €480 | +€480 | |
| Other amounts receivable | 41 | €9 | €15,850 | +€15,842 | +184,853% |
| Current investments | 50/53 | €6,086,533 | €4,268,620 | -€1.8m | -29.9% |
| Cash at bank and in hand | 54/58 | €50,918 | €67,227 | +€16,308 | +32.0% |
| Deferred charges and accrued income | 490/1 | €1,389 | €1,075 | -€314 | -22.6% |
| Total equity and liabilities | 10/49 | €6,794,149 | €4,956,851 | -€1.8m | -27.0% |
| Equity | 10/15 | €6,356,610 | €3,084,299 | -€3.3m | -51.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €6,350,410 | €3,078,099 | -€3.3m | -51.5% |
| Tax-exempt reserves | 132 | €13,095 | €13,095 | = | 0.0% |
| Distributable reserves | 133 | €6,337,315 | €3,065,004 | -€3.3m | -51.6% |
| Amounts payable | 17/49 | €437,539 | €1,872,552 | +€1.4m | +328% |
| Amounts payable within one year | 42/48 | €437,539 | €1,870,379 | +€1.4m | +327% |
| Financial debts | 43 | - | €112,000 | +€112,000 | |
| Credit institutions | 430/8 | - | €112,000 | +€112,000 | |
| Trade debts | 44 | €3,248 | €46,289 | +€43,041 | +1,325% |
| Suppliers | 440/4 | €3,248 | €46,289 | +€43,041 | +1,325% |
| Taxes, remuneration and social security | 45 | €70,430 | €119,839 | +€49,409 | +70.2% |
| Taxes | 450/3 | €70,430 | €119,839 | +€49,409 | +70.2% |
| Other amounts payable | 47/48 | €363,861 | €1,592,251 | +€1.2m | +338% |
| Accrued charges and deferred income | 492/3 | - | €2,173 | +€2,173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,220 | €51,702 | +€482 | +0.9% |
| Other operating charges | 640/8 | €8,060 | €11,098 | +€3,038 | +37.7% |
| Gross operating margin | 9900 | €1,141,654 | €385,607 | -€756,047 | -66.2% |
| Operating profit (loss) | 9901 | €1,082,375 | €322,807 | -€759,568 | -70.2% |
| Financial income | 75/76B | €227,542 | €337,978 | +€110,436 | +48.5% |
| Recurring financial income | 75 | €227,542 | €337,978 | +€110,436 | +48.5% |
| Financial charges | 65/66B | €13,416 | €3,873 | -€9,543 | -71.1% |
| Recurring financial charges | 65 | €13,416 | €3,873 | -€9,543 | -71.1% |
| Profit (loss) for the period before taxes | 9903 | €1,296,501 | €656,912 | -€639,589 | -49.3% |
| Income taxes | 67/77 | €376,496 | €137,742 | -€238,754 | -63.4% |
| Profit (loss) for the period | 9904 | €920,005 | €519,170 | -€400,835 | -43.6% |
| Profit (loss) for the period to be appropriated | 9905 | €920,005 | €519,170 | -€400,835 | -43.6% |
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 18 October 2026 via checked.be.