YVES NIZET: what changed
YVES NIZET
Largest movements
- Receivables within one year +€108,194
up €108,194 (+47.3%), from €228,803 to €336,996
of which Trade receivables: +€110,538
- Tangible fixed assets -€34,459
down €34,459 (-19.6%), from €176,214 to €141,756
of which Furniture and vehicles: -€20,400
- Stocks and contracts +€31,315
up €31,315 (+63.8%), from €49,090 to €80,405
- Cash +€8,872
up €8,872 (+8.8%), from €100,306 to €109,177
mainly Net result for the year (+€87,780) and Depreciation (+€34,459)
- Reserves +€87,780
up €87,780 (+45.7%), from €192,033 to €279,813
- Trade debts +€27,784
up €27,784 (+24.7%), from €112,495 to €140,279
- Debts after one year -€20,677
down €20,677 (-25.0%), from €82,568 to €61,891
- Tax, wage and social debts +€17,775
up €17,775 (+159%), from €11,192 to €28,967
of which Taxes: +€21,192
- Gross operating margin +€65,489
up €65,489 (+58.6%), from €111,746 to €177,235
- Taxes +€30,562
up €30,562 (+247%), from €12,377 to €42,938
- Staff costs -€21,019
down €21,019 (-87.4%), from €24,052 to €3,033
- Other operating charges -€4,658
down €4,658 (-47.6%), from €9,796 to €5,138
- Depreciation -€4,400
down €4,400 (-11.3%), from €38,859 to €34,459
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €556,161 | €669,805 | +€113,644 | +20.4% |
| Fixed assets | 21/28 | €176,314 | €141,856 | -€34,459 | -19.5% |
| Tangible fixed assets | 22/27 | €176,214 | €141,756 | -€34,459 | -19.6% |
| Land and buildings | 22 | €120,851 | €109,363 | -€11,488 | -9.5% |
| Plant, machinery and equipment | 23 | €23,396 | €20,825 | -€2,571 | -11.0% |
| Furniture and vehicles | 24 | €31,967 | €11,567 | -€20,400 | -63.8% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €379,846 | €527,949 | +€148,103 | +39.0% |
| Stocks and contracts in progress | 3 | €49,090 | €80,405 | +€31,315 | +63.8% |
| Stocks | 30/36 | €49,090 | €80,405 | +€31,315 | +63.8% |
| Amounts receivable within one year | 40/41 | €228,803 | €336,996 | +€108,194 | +47.3% |
| Trade receivables | 40 | €107,987 | €218,525 | +€110,538 | +102% |
| Other amounts receivable | 41 | €120,816 | €118,472 | -€2,344 | -1.9% |
| Cash at bank and in hand | 54/58 | €100,306 | €109,177 | +€8,872 | +8.8% |
| Deferred charges and accrued income | 490/1 | €1,648 | €1,370 | -€278 | -16.9% |
| Total equity and liabilities | 10/49 | €556,161 | €669,805 | +€113,644 | +20.4% |
| Equity | 10/15 | €228,928 | €315,300 | +€86,372 | +37.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €192,033 | €279,813 | +€87,780 | +45.7% |
| Distributable reserves | 133 | €192,033 | €279,813 | +€87,780 | +45.7% |
| Investment grants | 15 | €18,294 | €16,887 | -€1,407 | -7.7% |
| Amounts payable | 17/49 | €327,233 | €354,505 | +€27,272 | +8.3% |
| Amounts payable after more than one year | 17 | €82,568 | €61,891 | -€20,677 | -25.0% |
| Financial debts | 170/4 | €82,568 | €61,891 | -€20,677 | -25.0% |
| Amounts payable within one year | 42/48 | €244,075 | €289,924 | +€45,849 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €20,387 | €20,677 | +€290 | +1.4% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €112,495 | €140,279 | +€27,784 | +24.7% |
| Suppliers | 440/4 | €112,495 | €140,279 | +€27,784 | +24.7% |
| Taxes, remuneration and social security | 45 | €11,192 | €28,967 | +€17,775 | +159% |
| Taxes | 450/3 | €5,598 | €26,790 | +€21,192 | +379% |
| Remuneration and social security | 454/9 | €5,594 | €2,178 | -€3,417 | -61.1% |
| Accrued charges and deferred income | 492/3 | €590 | €2,690 | +€2,100 | +356% |
| Remuneration, social security and pensions | 62 | €24,052 | €3,033 | -€21,019 | -87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,859 | €34,459 | -€4,400 | -11.3% |
| Other operating charges | 640/8 | €9,796 | €5,138 | -€4,658 | -47.6% |
| Gross operating margin | 9900 | €111,746 | €177,235 | +€65,489 | +58.6% |
| Operating profit (loss) | 9901 | €39,039 | €134,605 | +€95,567 | +245% |
| Financial income | 75/76B | €1,474 | €2,157 | +€682 | +46.3% |
| Recurring financial income | 75 | €1,474 | €1,415 | -€59 | -4.0% |
| Non-recurring financial income | 76B | - | €741 | +€741 | |
| Financial charges | 65/66B | €7,835 | €6,044 | -€1,791 | -22.9% |
| Recurring financial charges | 65 | €7,835 | €6,044 | -€1,791 | -22.9% |
| Profit (loss) for the period before taxes | 9903 | €32,679 | €130,718 | +€98,040 | +300% |
| Income taxes | 67/77 | €12,377 | €42,938 | +€30,562 | +247% |
| Profit (loss) for the period | 9904 | €20,302 | €87,780 | +€67,478 | +332% |
| Profit (loss) for the period to be appropriated | 9905 | €20,302 | €87,780 | +€67,478 | +332% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.