NiZeMoRi: 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.
What changed
NiZeMoRi
NACE 47.632, Retail sale of bicycles
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€132,808
2024 · €120,985+€11,823
Equity
€1.0m
2024 · €997,756+€3,208
Cash
€475,816
2024 · €353,813+€122,003
Balance sheet total
€1.4m
2024 · €1.3m+€46,329
Largest movements
Assets
- Cash +€122,003
up €122,003 (+34.5%), from €353,813 to €475,816
mainly Net result for the year (+€132,808) and Other debts (+€77,948)
- Stocks and contracts -€69,762
down €69,762 (-11.5%), from €604,698 to €534,936
Equity and liabilities
- Other debts +€77,948
up €77,948 (+168%), from €46,301 to €124,250
- Debts after one year -€45,137
down €45,137 (-24.1%), from €187,378 to €142,241
Income statement
- Gross operating margin +€24,327
up €24,327 (+8.3%), from €291,601 to €315,927
- Depreciation +€9,015
up €9,015 (+13.8%), from €65,183 to €74,198
- Taxes +€5,202
up €5,202 (+10.5%), from €49,544 to €54,746
- Staff costs +€3,736
up €3,736 (+7.7%), from €48,646 to €52,382
- Financial income +€3,557
up €3,557 (+37.3%), from €9,524 to €13,081
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
€120,985
Gross operating margin
+€24,327
Staff costs
-€3,736
Depreciation
-€9,015
Other operating charges
-€209
Financial income
+€3,557
Financial charges
+€2,100
Taxes
-€5,202
Result 2025
€132,808
raises the resultlowers the result
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.
From operations
+€366,978
Investment
-€71,418
Financing
-€173,556
Cash 2024
€353,813
From operations (derived)
+€366,978
Net result for the year
+€132,808
Depreciation
+€74,198
Stocks and contracts
+€69,762
Receivables within one year
+€4,864
Deferred charges and accrued income
-€1,731
Trade debts
+€1,311
Tax, wage and social debts
+€8,615
Advances received
-€796
Other debts
+€77,948
Investment (derived)
-€71,418
Investment in fixed assets (net)
-€71,418
Financing
-€173,556
Debts after one year
-€45,137
Current portion of long-term debt
+€1,181
Contributions, distributions and other
-€129,600
Cash 2025
€475,816
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,312,671 | €1,359,000 | +€46,329 | +3.5% |
| Fixed assets | 21/28 | €303,669 | €300,890 | -€2,779 | -0.9% |
| Tangible fixed assets | 22/27 | €303,570 | €300,790 | -€2,779 | -0.9% |
| Land and buildings | 22 | €264,250 | €213,040 | -€51,211 | -19.4% |
| Plant, machinery and equipment | 23 | €11,594 | €6,875 | -€4,720 | -40.7% |
| Furniture and vehicles | 24 | €27,725 | €80,876 | +€53,151 | +192% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €1,009,002 | €1,058,110 | +€49,108 | +4.9% |
| Stocks and contracts in progress | 3 | €604,698 | €534,936 | -€69,762 | -11.5% |
| Stocks | 30/36 | €604,698 | €534,936 | -€69,762 | -11.5% |
| Amounts receivable within one year | 40/41 | €45,179 | €40,316 | -€4,864 | -10.8% |
| Trade receivables | 40 | €16,606 | €11,901 | -€4,705 | -28.3% |
| Other amounts receivable | 41 | €28,574 | €28,415 | -€159 | -0.6% |
| Cash at bank and in hand | 54/58 | €353,813 | €475,816 | +€122,003 | +34.5% |
| Deferred charges and accrued income | 490/1 | €5,312 | €7,042 | +€1,731 | +32.6% |
| Total equity and liabilities | 10/49 | €1,312,671 | €1,359,000 | +€46,329 | +3.5% |
| Equity | 10/15 | €997,756 | €1,000,964 | +€3,208 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €870,001 | €873,209 | +€3,208 | +0.4% |
| Distributable reserves | 133 | €870,001 | €873,209 | +€3,208 | +0.4% |
| Profit (loss) carried forward | 14 | €109,156 | €109,156 | = | 0.0% |
| Amounts payable | 17/49 | €314,915 | €358,036 | +€43,121 | +13.7% |
| Amounts payable after more than one year | 17 | €187,378 | €142,241 | -€45,137 | -24.1% |
| Financial debts | 170/4 | €187,378 | €142,241 | -€45,137 | -24.1% |
| Amounts payable within one year | 42/48 | €126,736 | €214,994 | +€88,258 | +69.6% |
| Current portion of amounts payable after more than one year | 42 | €43,956 | €45,137 | +€1,181 | +2.7% |
| Trade debts | 44 | €21,843 | €23,154 | +€1,311 | +6.0% |
| Suppliers | 440/4 | €21,843 | €23,154 | +€1,311 | +6.0% |
| Advances received on contracts in progress | 46 | €996 | €200 | -€796 | -79.9% |
| Taxes, remuneration and social security | 45 | €13,639 | €22,254 | +€8,615 | +63.2% |
| Taxes | 450/3 | €9,031 | €21,451 | +€12,420 | +138% |
| Remuneration and social security | 454/9 | €4,607 | €802 | -€3,805 | -82.6% |
| Other amounts payable | 47/48 | €46,301 | €124,250 | +€77,948 | +168% |
| Accrued charges and deferred income | 492/3 | €800 | €800 | = | 0.0% |
| Non-recurring operating income | 76A | - | €41,322 | +€41,322 | |
| Remuneration, social security and pensions | 62 | €48,646 | €52,382 | +€3,736 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,183 | €74,198 | +€9,015 | +13.8% |
| Other operating charges | 640/8 | €5,230 | €5,439 | +€209 | +4.0% |
| Gross operating margin | 9900 | €291,601 | €315,927 | +€24,327 | +8.3% |
| Operating profit (loss) | 9901 | €172,541 | €183,909 | +€11,368 | +6.6% |
| Financial income | 75/76B | €9,524 | €13,081 | +€3,557 | +37.3% |
| Recurring financial income | 75 | €9,524 | €13,081 | +€3,557 | +37.3% |
| Financial charges | 65/66B | €11,536 | €9,436 | -€2,100 | -18.2% |
| Recurring financial charges | 65 | €11,536 | €9,436 | -€2,100 | -18.2% |
| Profit (loss) for the period before taxes | 9903 | €170,529 | €187,554 | +€17,025 | +10.0% |
| Income taxes | 67/77 | €49,544 | €54,746 | +€5,202 | +10.5% |
| Profit (loss) for the period | 9904 | €120,985 | €132,808 | +€11,823 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | €120,985 | €132,808 | +€11,823 | +9.8% |
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 28 October 2026 via checked.be.