ROBAERT NICK: 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.
ROBAERT NICK
Largest movements
- Tangible fixed assets +€90,152
up €90,152 (+287%), from €31,358 to €121,510
of which Furniture and vehicles: +€88,971
- Receivables within one year +€27,867
up €27,867 (+116%), from €24,116 to €51,982
of which Trade receivables: +€34,605
- Cash +€19,436
up €19,436 (+52.8%), from €36,785 to €56,221
mainly Debts after one year (+€57,129) and Net result for the year (+€46,458)
- Stocks and contracts -€4,600
down €4,600 (-100%), from €4,600 to €0
- Debts after one year +€57,129
new in 2025: €57,129
- Reserves +€46,458
up €46,458 (+58.8%), from €78,989 to €125,447
- Current portion of long-term debt +€17,968
new in 2025: €17,968
- Tax, wage and social debts +€15,716
up €15,716 (+242%), from €6,482 to €22,198
of which Taxes: +€18,016
- Other debts -€5,768
down €5,768 (-80.0%), from €7,214 to €1,446
- Gross operating margin -€35,579
down €35,579 (-31.1%), from €114,418 to €78,839
- Taxes -€12,717
down €12,717 (-57.8%), from €21,989 to €9,272
- Depreciation +€12,067
up €12,067 (+162%), from €7,432 to €19,499
- Financial charges +€1,577
up €1,577 (+345%), from €458 to €2,035
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 | €96,859 | €231,421 | +€134,562 | +139% |
| Fixed assets | 21/28 | €31,358 | €121,510 | +€90,152 | +287% |
| Intangible fixed assets | 21 | €0 | €0 | -€0 | -100% |
| Tangible fixed assets | 22/27 | €31,358 | €121,510 | +€90,152 | +287% |
| Plant, machinery and equipment | 23 | €22,386 | €23,567 | +€1,181 | +5.3% |
| Furniture and vehicles | 24 | €8,972 | €97,943 | +€88,971 | +992% |
| Current assets | 29/58 | €65,500 | €109,911 | +€44,410 | +67.8% |
| Stocks and contracts in progress | 3 | €4,600 | €0 | -€4,600 | -100% |
| Stocks | 30/36 | €4,600 | €0 | -€4,600 | -100% |
| Amounts receivable within one year | 40/41 | €24,116 | €51,982 | +€27,867 | +116% |
| Trade receivables | 40 | €15,000 | €49,605 | +€34,605 | +231% |
| Other amounts receivable | 41 | €9,116 | €2,378 | -€6,738 | -73.9% |
| Cash at bank and in hand | 54/58 | €36,785 | €56,221 | +€19,436 | +52.8% |
| Deferred charges and accrued income | 490/1 | - | €1,708 | +€1,708 | |
| Total equity and liabilities | 10/49 | €96,859 | €231,421 | +€134,562 | +139% |
| Equity | 10/15 | €80,989 | €127,447 | +€46,458 | +57.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €78,989 | €125,447 | +€46,458 | +58.8% |
| Distributable reserves | 133 | €78,989 | €125,447 | +€46,458 | +58.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €15,870 | €103,974 | +€88,104 | +555% |
| Amounts payable after more than one year | 17 | - | €57,129 | +€57,129 | |
| Financial debts | 170/4 | - | €57,129 | +€57,129 | |
| Amounts payable within one year | 42/48 | €15,870 | €46,288 | +€30,418 | +192% |
| Current portion of amounts payable after more than one year | 42 | - | €17,968 | +€17,968 | |
| Trade debts | 44 | €2,174 | €4,676 | +€2,502 | +115% |
| Suppliers | 440/4 | €2,174 | €4,676 | +€2,502 | +115% |
| Taxes, remuneration and social security | 45 | €6,482 | €22,198 | +€15,716 | +242% |
| Taxes | 450/3 | €4,182 | €22,198 | +€18,016 | +431% |
| Remuneration and social security | 454/9 | €2,300 | €0 | -€2,300 | -100% |
| Other amounts payable | 47/48 | €7,214 | €1,446 | -€5,768 | -80.0% |
| Accrued charges and deferred income | 492/3 | - | €557 | +€557 | |
| Non-recurring operating income | 76A | - | €287 | +€287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,432 | €19,499 | +€12,067 | +162% |
| Other operating charges | 640/8 | €788 | €1,887 | +€1,098 | +139% |
| Gross operating margin | 9900 | €114,418 | €78,839 | -€35,579 | -31.1% |
| Operating profit (loss) | 9901 | €106,198 | €57,453 | -€48,745 | -45.9% |
| Financial income | 75/76B | €237 | €311 | +€74 | +31.2% |
| Recurring financial income | 75 | €237 | €311 | +€74 | +31.2% |
| Financial charges | 65/66B | €458 | €2,035 | +€1,577 | +345% |
| Recurring financial charges | 65 | €458 | €2,035 | +€1,577 | +345% |
| Profit (loss) for the period before taxes | 9903 | €105,978 | €55,730 | -€50,248 | -47.4% |
| Income taxes | 67/77 | €21,989 | €9,272 | -€12,717 | -57.8% |
| Profit (loss) for the period | 9904 | €83,989 | €46,458 | -€37,531 | -44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €83,989 | €46,458 | -€37,531 | -44.7% |
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.