THE NICK: 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.
THE NICK
Largest movements
- Cash +€1.7m
up €1.7m (+6482.0%), from €26,878 to €1.8m
mainly Current investments (+€1.5m) and Receivables within one year (+€1.1m)
- Current investments -€1.5m
down €1.5m (-96.6%), from €1.5m to €51,791
- Receivables within one year -€1.1m
down €1.1m (-91.0%), from €1.2m to €105,816
of which Other amounts receivable: -€1.1m
- Tangible fixed assets -€149,444
down €149,444 (-3.3%), from €4.5m to €4.4m
of which Land and buildings: -€147,842
- Other debts -€1.5m
down €1.5m (-99.4%), from €1.5m to €8,490
- Reserves +€334,729
up €334,729 (+47.2%), from €709,705 to €1.0m
of which Tax-exempt reserves: +€334,729
- Profit (loss) carried forward +€298,951
up €298,951 (+8.6%), from €3.5m to €3.8m
- Debts after one year -€208,013
down €208,013 (-7.4%), from €2.8m to €2.6m
- Provisions +€111,576
new in 2025: €111,576
- Turnover +€690,066
new in 2025: €690,066
- Gross operating margin +€506,294
up €506,294 (+98.1%), from €515,839 to €1.0m
- Purchases and services +€131,568
new in 2025: €131,568
- Depreciation -€123,686
down €123,686 (-49.9%), from €247,935 to €124,249
- Taxes +€70,133
up €70,133 (+211.5%), from €33,155 to €103,288
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,775,333 | €7,839,081 | -€936,252 | -10.7% |
| Fixed assets | 21/28 | €6,051,594 | €5,902,150 | -€149,444 | -2.5% |
| Tangible fixed assets | 22/27 | €4,549,094 | €4,399,650 | -€149,444 | -3.3% |
| Land and buildings | 22 | €4,541,533 | €4,393,691 | -€147,842 | -3.3% |
| Plant, machinery and equipment | 23 | €4,809 | €3,157 | -€1,653 | -34.4% |
| Furniture and vehicles | 24 | €2,752 | €2,802 | +€50 | +1.8% |
| Financial fixed assets | 28 | €1,502,500 | €1,502,500 | = | 0.0% |
| Current assets | 29/58 | €2,723,739 | €1,936,931 | -€786,808 | -28.9% |
| Amounts receivable within one year | 40/41 | €1,169,693 | €105,816 | -€1.1m | -91.0% |
| Trade receivables | 40 | €13,659 | €26,906 | +€13,248 | +97.0% |
| Other amounts receivable | 41 | €1,156,034 | €78,909 | -€1.1m | -93.2% |
| Current investments | 50/53 | €1,512,957 | €51,791 | -€1.5m | -96.6% |
| Cash at bank and in hand | 54/58 | €26,878 | €1,769,144 | +€1.7m | +6482.0% |
| Deferred charges and accrued income | 490/1 | €14,211 | €10,181 | -€4,030 | -28.4% |
| Total equity and liabilities | 10/49 | €8,775,333 | €7,839,081 | -€936,252 | -10.7% |
| Equity | 10/15 | €4,223,827 | €4,857,508 | +€633,680 | +15.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €709,705 | €1,044,433 | +€334,729 | +47.2% |
| Tax-exempt reserves | 132 | - | €334,729 | +€334,729 | |
| Distributable reserves | 133 | €709,705 | €709,705 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,495,523 | €3,794,474 | +€298,951 | +8.6% |
| Provisions and deferred taxes | 16 | - | €111,576 | +€111,576 | |
| Deferred taxes | 168 | - | €111,576 | +€111,576 | |
| Amounts payable | 17/49 | €4,551,506 | €2,869,997 | -€1.7m | -36.9% |
| Amounts payable after more than one year | 17 | €2,803,249 | €2,595,236 | -€208,013 | -7.4% |
| Financial debts | 170/4 | €2,803,249 | €2,595,236 | -€208,013 | -7.4% |
| Amounts payable within one year | 42/48 | €1,747,506 | €274,761 | -€1.5m | -84.3% |
| Current portion of amounts payable after more than one year | 42 | €212,606 | €218,264 | +€5,658 | +2.7% |
| Trade debts | 44 | €20,325 | €44,657 | +€24,332 | +119.7% |
| Suppliers | 440/4 | €20,325 | €44,657 | +€24,332 | +119.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,416 | €3,350 | -€3,066 | -47.8% |
| Taxes | 450/3 | €0 | €3,350 | +€3,350 | |
| Remuneration and social security | 454/9 | €6,416 | €0 | -€6,416 | -100.0% |
| Other amounts payable | 47/48 | €1,508,160 | €8,490 | -€1.5m | -99.4% |
| Accrued charges and deferred income | 492/3 | €750 | €0 | -€750 | -100.0% |
| Turnover | 70 | - | €690,066 | +€690,066 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €131,568 | +€131,568 | |
| Remuneration, social security and pensions | 62 | €47,601 | €949 | -€46,652 | -98.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €247,935 | €124,249 | -€123,686 | -49.9% |
| Other operating charges | 640/8 | €47,015 | €48,827 | +€1,813 | +3.9% |
| Gross operating margin | 9900 | €515,839 | €1,022,133 | +€506,294 | +98.1% |
| Operating profit (loss) | 9901 | €173,289 | €848,107 | +€674,819 | +389.4% |
| Financial income | 75/76B | €32,600 | €82,845 | +€50,245 | +154.1% |
| Recurring financial income | 75 | €32,600 | €82,845 | +€50,245 | +154.1% |
| Financial charges | 65/66B | €85,366 | €82,408 | -€2,958 | -3.5% |
| Recurring financial charges | 65 | €85,366 | €82,408 | -€2,958 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | €120,522 | €848,544 | +€728,022 | +604.1% |
| Transfer to deferred taxes | 680 | - | €111,576 | +€111,576 | |
| Income taxes | 67/77 | €33,155 | €103,288 | +€70,133 | +211.5% |
| Profit (loss) for the period | 9904 | €87,367 | €633,680 | +€546,313 | +625.3% |
| Transfer to tax-exempt reserves | 689 | - | €334,729 | +€334,729 | |
| Profit (loss) for the period to be appropriated | 9905 | €87,367 | €298,951 | +€211,584 | +242.2% |
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 5 October 2026 via checked.be.