De Notelaer: 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 Notelaer
Largest movements
- Stocks and contracts +€45,000
new in 2025: €45,000
- Deferred charges and accrued income -€42,943
down €42,943 (-66.3%), from €64,764 to €21,821
- Current investments +€16,500
up €16,500, from €0 to €16,500
- Receivables within one year +€5,660
up €5,660 (+4.9%), from €115,142 to €120,802
of which Trade receivables: +€8,989
- Tangible fixed assets -€5,188
down €5,188 (-9.7%), from €53,682 to €48,493
of which Furniture and vehicles: -€4,131
- Other debts +€12,587
up €12,587 (+626%), from €2,009 to €14,596
- Accrued charges and deferred income -€9,886
down €9,886 (-100%), from €9,886 to €0
- Trade debts +€7,573
up €7,573 (+182%), from €4,168 to €11,741
- Reserves +€5,613
up €5,613 (+3.5%), from €160,344 to €165,957
of which Distributable reserves: +€5,613
- Current portion of long-term debt -€3,219
down €3,219 (-100%), from €3,219 to €0
- Gross operating margin +€11,343
up €11,343 (+113%), from €10,078 to €21,421
- Taxes +€1,551
up €1,551, from €0 to €1,551
- Financial charges -€1,401
down €1,401 (-68.4%), from €2,050 to €649
- Depreciation +€491
up €491 (+3.9%), from €12,457 to €12,948
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 | €243,080 | €257,161 | +€14,081 | +5.8% |
| Fixed assets | 21/28 | €54,682 | €49,493 | -€5,188 | -9.5% |
| Tangible fixed assets | 22/27 | €53,682 | €48,493 | -€5,188 | -9.7% |
| Plant, machinery and equipment | 23 | €3,687 | €2,629 | -€1,057 | -28.7% |
| Furniture and vehicles | 24 | €18,794 | €14,663 | -€4,131 | -22.0% |
| Other tangible fixed assets | 26 | €31,201 | €31,201 | = | 0.0% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €188,398 | €207,668 | +€19,269 | +10.2% |
| Stocks and contracts in progress | 3 | - | €45,000 | +€45,000 | |
| Stocks | 30/36 | - | €45,000 | +€45,000 | |
| Amounts receivable within one year | 40/41 | €115,142 | €120,802 | +€5,660 | +4.9% |
| Trade receivables | 40 | €12,617 | €21,606 | +€8,989 | +71.2% |
| Other amounts receivable | 41 | €102,525 | €99,196 | -€3,329 | -3.2% |
| Current investments | 50/53 | €0 | €16,500 | +€16,500 | |
| Cash at bank and in hand | 54/58 | €8,493 | €3,545 | -€4,948 | -58.3% |
| Deferred charges and accrued income | 490/1 | €64,764 | €21,821 | -€42,943 | -66.3% |
| Total equity and liabilities | 10/49 | €243,080 | €257,161 | +€14,081 | +5.8% |
| Equity | 10/15 | €222,844 | €228,457 | +€5,613 | +2.5% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €160,344 | €165,957 | +€5,613 | +3.5% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Distributable reserves | 133 | €154,094 | €159,707 | +€5,613 | +3.6% |
| Amounts payable | 17/49 | €20,236 | €28,704 | +€8,468 | +41.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €10,350 | €28,704 | +€18,354 | +177% |
| Current portion of amounts payable after more than one year | 42 | €3,219 | €0 | -€3,219 | -100% |
| Financial debts | 43 | €954 | €0 | -€954 | -100% |
| Credit institutions | 430/8 | €954 | €0 | -€954 | -100% |
| Trade debts | 44 | €4,168 | €11,741 | +€7,573 | +182% |
| Suppliers | 440/4 | €4,168 | €11,741 | +€7,573 | +182% |
| Taxes, remuneration and social security | 45 | €0 | €2,367 | +€2,367 | |
| Taxes | 450/3 | €0 | €2,367 | +€2,367 | |
| Other amounts payable | 47/48 | €2,009 | €14,596 | +€12,587 | +626% |
| Accrued charges and deferred income | 492/3 | €9,886 | €0 | -€9,886 | -100% |
| Non-recurring operating income | 76A | €1,177 | €0 | -€1,177 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,457 | €12,948 | +€491 | +3.9% |
| Other operating charges | 640/8 | €577 | €660 | +€83 | +14.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €10,078 | €21,421 | +€11,343 | +113% |
| Operating profit (loss) | 9901 | -€2,957 | €7,813 | +€10,769 | |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €2,050 | €649 | -€1,401 | -68.4% |
| Recurring financial charges | 65 | €2,050 | €649 | -€1,401 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,007 | €7,164 | +€12,170 | |
| Income taxes | 67/77 | €0 | €1,551 | +€1,551 | |
| Profit (loss) for the period | 9904 | -€5,007 | €5,613 | +€10,620 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,007 | €5,613 | +€10,620 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.