Ets NOEL: 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.
Ets NOEL
Largest movements
- Tangible fixed assets -€17,434
down €17,434 (-34.8%), from €50,091 to €32,657
- Current assets +€16,355
up €16,355 (+1.9%), from €864,653 to €881,008
of which Receivables within one year: +€34,606
- Debts after one year -€17,951
down €17,951 (-26.9%), from €66,617 to €48,666
- Debts within one year +€16,669
up €16,669 (+5.4%), from €311,432 to €328,101
of which Tax, wage and social debts: +€31,573
- Gross operating margin -€17,585
down €17,585 (-31.3%), from €56,262 to €38,677
- Other operating charges +€11,780
new in 2020: €11,780
- Financial charges +€9,504
new in 2020: €9,504
- Depreciation -€808
down €808 (-3.0%), from €27,362 to €26,554
From the 2019 result to the 2020 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2019 | 2020 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €942,104 | €931,905 | -€10,199 | -1.1% |
| Fixed assets | 21/28 | €77,451 | €50,897 | -€26,554 | -34.3% |
| Intangible fixed assets | 21 | €27,360 | €18,240 | -€9,120 | -33.3% |
| Tangible fixed assets | 22/27 | €50,091 | €32,657 | -€17,434 | -34.8% |
| Land and buildings | 22 | - | €32,252 | +€32,252 | |
| Furniture and vehicles | 24 | - | €405 | +€405 | |
| Current assets | 29/58 | €864,653 | €881,008 | +€16,355 | +1.9% |
| Amounts receivable within one year | 40/41 | €764,828 | €799,434 | +€34,606 | +4.5% |
| Trade receivables | 40 | - | €230,650 | +€230,650 | |
| Other amounts receivable | 41 | - | €568,784 | +€568,784 | |
| Cash at bank and in hand | 54/58 | €95,042 | €64,319 | -€30,723 | -32.3% |
| Deferred charges and accrued income | 490/1 | - | €17,255 | +€17,255 | |
| Total equity and liabilities | 10/49 | €942,104 | €931,905 | -€10,199 | -1.1% |
| Equity | 10/15 | €564,055 | - | -€564,055 | |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Capital | 10 | - | €92,960 | +€92,960 | |
| Issued capital | 100 | - | €92,960 | +€92,960 | |
| Reserves | 13 | €45,024 | €45,024 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €9,296 | +€9,296 | |
| Legal reserve | 130 | - | €9,296 | +€9,296 | |
| Tax-exempt reserves | 132 | - | €35,728 | +€35,728 | |
| Profit (loss) carried forward | 14 | €426,071 | €416,737 | -€9,334 | -2.2% |
| Amounts payable | 17/49 | €378,049 | €377,184 | -€865 | -0.2% |
| Amounts payable after more than one year | 17 | €66,617 | €48,666 | -€17,951 | -26.9% |
| Financial debts | 170/4 | - | €48,666 | +€48,666 | |
| Amounts payable within one year | 42/48 | €311,432 | €328,101 | +€16,669 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | - | €17,951 | +€17,951 | |
| Financial debts | 43 | - | €8,000 | +€8,000 | |
| Other loans | 439 | - | €8,000 | +€8,000 | |
| Trade debts | 44 | €230,258 | €241,141 | +€10,883 | +4.7% |
| Suppliers | 440/4 | - | €241,141 | +€241,141 | |
| Advances received on contracts in progress | 46 | - | €11,523 | +€11,523 | |
| Taxes, remuneration and social security | 45 | - | €31,573 | +€31,573 | |
| Taxes | 450/3 | - | €27,440 | +€27,440 | |
| Remuneration and social security | 454/9 | - | €4,133 | +€4,133 | |
| Other amounts payable | 47/48 | - | €17,913 | +€17,913 | |
| Accrued charges and deferred income | 492/3 | - | €417 | +€417 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,362 | €26,554 | -€808 | -3.0% |
| Other operating charges | 640/8 | - | €11,780 | +€11,780 | |
| Gross operating margin | 9900 | €56,262 | €38,677 | -€17,585 | -31.3% |
| Operating profit (loss) | 9901 | -€286 | €343 | +€629 | |
| Financial income | 75/76B | - | €58 | +€58 | |
| Recurring financial income | 75 | - | €58 | +€58 | |
| Financial charges | 65/66B | - | €9,504 | +€9,504 | |
| Recurring financial charges | 65 | €8,022 | €9,504 | +€1,482 | +18.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,308 | -€9,103 | -€795 | -9.6% |
| Income taxes | 67/77 | €261 | €231 | -€30 | -11.5% |
| Profit (loss) for the period | 9904 | -€8,569 | -€9,334 | -€765 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,569 | -€9,334 | -€765 | -8.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2019 and 31 December 2020. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.