DE NOENE: 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.
DE NOENE
Largest movements
- Cash +€34,492
up €34,492 (+378%), from €9,122 to €43,614
mainly Net result for the year (+€29,416) and Trade debts (+€10,311)
- Receivables within one year -€3,833
down €3,833 (-10.3%), from €37,392 to €33,559
of which Other amounts receivable: -€10,313
- Intangible fixed assets -€3,600
down €3,600 (-46.2%), from €7,799 to €4,200
- Tangible fixed assets -€2,259
down €2,259 (-33.3%), from €6,791 to €4,532
of which Furniture and vehicles: -€1,745
- Stocks and contracts +€1,685
up €1,685 (+4.4%), from €38,198 to €39,882
- Profit (loss) carried forward +€26,207
up €26,207, from -€26,207 to €0
- Reserves -€18,681
down €18,681 (-78.7%), from €23,750 to €5,069
of which Distributable reserves: -€16,821
- Trade debts +€10,311
up €10,311 (+33.0%), from €31,266 to €41,577
- Debts after one year +€8,787
up €8,787 (+36.8%), from €23,852 to €32,639
- Gross operating margin +€40,176
up €40,176 (+90.0%), from €44,634 to €84,810
- Staff costs +€2,366
up €2,366 (+4.6%), from €51,221 to €53,587
- Financial charges +€974
up €974 (+14.5%), from €6,706 to €7,680
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 | €105,535 | €132,989 | +€27,454 | +26.0% |
| Fixed assets | 21/28 | €15,196 | €9,337 | -€5,859 | -38.6% |
| Intangible fixed assets | 21 | €7,799 | €4,200 | -€3,600 | -46.2% |
| Tangible fixed assets | 22/27 | €6,791 | €4,532 | -€2,259 | -33.3% |
| Plant, machinery and equipment | 23 | €1,063 | €548 | -€515 | -48.4% |
| Furniture and vehicles | 24 | €5,729 | €3,984 | -€1,745 | -30.5% |
| Financial fixed assets | 28 | €605 | €605 | = | 0.0% |
| Current assets | 29/58 | €90,339 | €123,651 | +€33,313 | +36.9% |
| Stocks and contracts in progress | 3 | €38,198 | €39,882 | +€1,685 | +4.4% |
| Stocks | 30/36 | €38,198 | €39,882 | +€1,685 | +4.4% |
| Amounts receivable within one year | 40/41 | €37,392 | €33,559 | -€3,833 | -10.3% |
| Trade receivables | 40 | €4,690 | €11,170 | +€6,481 | +138% |
| Other amounts receivable | 41 | €32,702 | €22,389 | -€10,313 | -31.5% |
| Cash at bank and in hand | 54/58 | €9,122 | €43,614 | +€34,492 | +378% |
| Deferred charges and accrued income | 490/1 | €5,627 | €6,595 | +€968 | +17.2% |
| Total equity and liabilities | 10/49 | €105,535 | €132,989 | +€27,454 | +26.0% |
| Equity | 10/15 | €16,144 | €23,669 | +€7,525 | +46.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,750 | €5,069 | -€18,681 | -78.7% |
| 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 | €21,890 | €5,069 | -€16,821 | -76.8% |
| Profit (loss) carried forward | 14 | -€26,207 | €0 | +€26,207 | |
| Amounts payable | 17/49 | €89,391 | €109,320 | +€19,929 | +22.3% |
| Amounts payable after more than one year | 17 | €23,852 | €32,639 | +€8,787 | +36.8% |
| Financial debts | 170/4 | €23,852 | €32,639 | +€8,787 | +36.8% |
| Amounts payable within one year | 42/48 | €65,539 | €76,505 | +€10,966 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €7,534 | €7,361 | -€173 | -2.3% |
| Trade debts | 44 | €31,266 | €41,577 | +€10,311 | +33.0% |
| Suppliers | 440/4 | €31,266 | €41,577 | +€10,311 | +33.0% |
| Taxes, remuneration and social security | 45 | €5,323 | €5,676 | +€353 | +6.6% |
| Taxes | 450/3 | €0 | €47 | +€47 | |
| Remuneration and social security | 454/9 | €5,323 | €5,629 | +€306 | +5.8% |
| Other amounts payable | 47/48 | €21,416 | €21,890 | +€474 | +2.2% |
| Accrued charges and deferred income | 492/3 | - | €176 | +€176 | |
| Remuneration, social security and pensions | 62 | €51,221 | €53,587 | +€2,366 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,423 | €5,859 | -€564 | -8.8% |
| Other operating charges | 640/8 | €959 | €714 | -€245 | -25.5% |
| Gross operating margin | 9900 | €44,634 | €84,810 | +€40,176 | +90.0% |
| Operating profit (loss) | 9901 | -€13,969 | €24,651 | +€38,620 | |
| Financial income | 75/76B | €2,016 | €1,794 | -€222 | -11.0% |
| Recurring financial income | 75 | €2,016 | €1,794 | -€222 | -11.0% |
| Financial charges | 65/66B | €6,706 | €7,680 | +€974 | +14.5% |
| Recurring financial charges | 65 | €6,706 | €7,680 | +€974 | +14.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,659 | €18,766 | +€37,424 | |
| Income taxes | 67/77 | -€11,320 | -€10,650 | +€670 | +5.9% |
| Profit (loss) for the period | 9904 | -€7,339 | €29,416 | +€36,755 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,339 | €29,416 | +€36,755 |
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 14 October 2026 via checked.be.