F. NOTERMAN & Associates: 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.
F. NOTERMAN & Associates
Largest movements
- Receivables within one year -€2,389
down €2,389 (-5.6%), from €42,980 to €40,591
of which Other amounts receivable: -€2,576
- Cash +€1,210
up €1,210 (+229%), from €529 to €1,740
mainly Receivables within one year (+€2,389) and Net result for the year (+€1,055)
- Other debts -€2,413
down €2,413 (-5.6%), from €43,022 to €40,609
- Profit (loss) carried forward +€1,055
up €1,055 (+1.4%), from -€73,787 to -€72,731
- Gross operating margin -€2,742
down €2,742 (-64.4%), from €4,256 to €1,513
- Other operating charges -€157
down €157 (-42.8%), from €367 to €210
- Depreciation -€121
down €121 (-40.4%), from €301 to €179
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 | €43,689 | €42,331 | -€1,358 | -3.1% |
| Fixed assets | 21/28 | €179 | - | -€179 | |
| Tangible fixed assets | 22/27 | €179 | €0 | -€179 | -100% |
| Furniture and vehicles | 24 | €179 | - | -€179 | |
| Current assets | 29/58 | €43,510 | €42,331 | -€1,179 | -2.7% |
| Amounts receivable within one year | 40/41 | €42,980 | €40,591 | -€2,389 | -5.6% |
| Trade receivables | 40 | - | €188 | +€188 | |
| Other amounts receivable | 41 | €42,980 | €40,404 | -€2,576 | -6.0% |
| Cash at bank and in hand | 54/58 | €529 | €1,740 | +€1,210 | +229% |
| Total equity and liabilities | 10/49 | €43,689 | €42,331 | -€1,358 | -3.1% |
| Equity | 10/15 | -€41,927 | -€40,872 | +€1,055 | +2.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,787 | -€72,731 | +€1,055 | +1.4% |
| Amounts payable | 17/49 | €85,616 | €83,203 | -€2,413 | -2.8% |
| Amounts payable after more than one year | 17 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 170/4 | €40,000 | €40,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €43,022 | €40,609 | -€2,413 | -5.6% |
| Other amounts payable | 47/48 | €43,022 | €40,609 | -€2,413 | -5.6% |
| Accrued charges and deferred income | 492/3 | €2,594 | €2,594 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €301 | €179 | -€121 | -40.4% |
| Other operating charges | 640/8 | €367 | €210 | -€157 | -42.8% |
| Gross operating margin | 9900 | €4,256 | €1,513 | -€2,742 | -64.4% |
| Operating profit (loss) | 9901 | €3,588 | €1,124 | -€2,464 | -68.7% |
| Financial charges | 65/66B | €56 | €69 | +€13 | +23.9% |
| Recurring financial charges | 65 | €56 | €69 | +€13 | +23.9% |
| Profit (loss) for the period before taxes | 9903 | €3,533 | €1,055 | -€2,477 | -70.1% |
| Profit (loss) for the period | 9904 | €3,533 | €1,055 | -€2,477 | -70.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,533 | €1,055 | -€2,477 | -70.1% |
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 20 October 2026 via checked.be.