NICO: 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.
NICO
Largest movements
- Current investments +€25,000
up €25,000 (+25.0%), from €100,000 to €125,000
- Receivables within one year -€22,296
down €22,296 (-39.9%), from €55,943 to €33,647
of which Other amounts receivable: -€12,004
- Cash +€12,411
up €12,411 (+14.3%), from €86,487 to €98,898
mainly Net result for the year (+€89,215) and Receivables within one year (+€22,296)
- Stocks and contracts +€5,747
up €5,747 (+20.4%), from €28,119 to €33,866
- Reserves +€89,000
up €89,000 (+122%), from €72,860 to €161,860
of which Distributable reserves: +€90,860
- Other debts -€50,000
down €50,000 (-100%), from €50,000 to €0
- Trade debts -€26,656
down €26,656 (-19.3%), from €138,079 to €111,423
- Tax, wage and social debts +€4,657
up €4,657 (+26.5%), from €17,574 to €22,231
of which Taxes: +€4,252
- Taxes +€4,567
up €4,567 (+13.8%), from €33,038 to €37,605
- Depreciation -€3,887
down €3,887 (-52.7%), from €7,375 to €3,488
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 | €286,076 | €303,342 | +€17,266 | +6.0% |
| Fixed assets | 21/28 | €15,396 | €11,908 | -€3,488 | -22.7% |
| Intangible fixed assets | 21 | €1,025 | €0 | -€1,025 | -100% |
| Tangible fixed assets | 22/27 | €14,372 | €11,908 | -€2,464 | -17.1% |
| Plant, machinery and equipment | 23 | €14,372 | €11,908 | -€2,464 | -17.1% |
| Current assets | 29/58 | €270,680 | €291,434 | +€20,754 | +7.7% |
| Stocks and contracts in progress | 3 | €28,119 | €33,866 | +€5,747 | +20.4% |
| Stocks | 30/36 | €28,119 | €33,866 | +€5,747 | +20.4% |
| Amounts receivable within one year | 40/41 | €55,943 | €33,647 | -€22,296 | -39.9% |
| Trade receivables | 40 | €41,370 | €31,078 | -€10,292 | -24.9% |
| Other amounts receivable | 41 | €14,573 | €2,569 | -€12,004 | -82.4% |
| Current investments | 50/53 | €100,000 | €125,000 | +€25,000 | +25.0% |
| Cash at bank and in hand | 54/58 | €86,487 | €98,898 | +€12,411 | +14.3% |
| Deferred charges and accrued income | 490/1 | €131 | €24 | -€107 | -81.9% |
| Total equity and liabilities | 10/49 | €286,076 | €303,342 | +€17,266 | +6.0% |
| Equity | 10/15 | €79,774 | €168,989 | +€89,215 | +112% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €72,860 | €161,860 | +€89,000 | +122% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €71,000 | €161,860 | +€90,860 | +128% |
| Profit (loss) carried forward | 14 | €664 | €879 | +€215 | +32.4% |
| Amounts payable | 17/49 | €206,303 | €134,353 | -€71,949 | -34.9% |
| Amounts payable within one year | 42/48 | €205,653 | €133,653 | -€71,999 | -35.0% |
| Trade debts | 44 | €138,079 | €111,423 | -€26,656 | -19.3% |
| Suppliers | 440/4 | €138,079 | €111,423 | -€26,656 | -19.3% |
| Taxes, remuneration and social security | 45 | €17,574 | €22,231 | +€4,657 | +26.5% |
| Taxes | 450/3 | €3,749 | €8,001 | +€4,252 | +113% |
| Remuneration and social security | 454/9 | €13,824 | €14,229 | +€405 | +2.9% |
| Other amounts payable | 47/48 | €50,000 | €0 | -€50,000 | -100% |
| Accrued charges and deferred income | 492/3 | €650 | €700 | +€50 | +7.7% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €130,994 | €130,083 | -€911 | -0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,375 | €3,488 | -€3,887 | -52.7% |
| Other operating charges | 640/8 | €1,363 | €3,357 | +€1,994 | +146% |
| Gross operating margin | 9900 | €262,303 | €259,961 | -€2,342 | -0.9% |
| Operating profit (loss) | 9901 | €122,571 | €123,032 | +€461 | +0.4% |
| Financial income | 75/76B | €4,087 | €4,120 | +€34 | +0.8% |
| Recurring financial income | 75 | €4,087 | €4,120 | +€34 | +0.8% |
| Financial charges | 65/66B | €311 | €332 | +€21 | +6.9% |
| Recurring financial charges | 65 | €311 | €332 | +€21 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €126,346 | €126,820 | +€474 | +0.4% |
| Income taxes | 67/77 | €33,038 | €37,605 | +€4,567 | +13.8% |
| Profit (loss) for the period | 9904 | €93,308 | €89,215 | -€4,093 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,308 | €89,215 | -€4,093 | -4.4% |
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 26 October 2026 via checked.be.