LE NOIR: 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.
LE NOIR
Largest movements
- Cash +€11,908
up €11,908 (+8.7%), from €136,967 to €148,875
mainly Other debts (+€53,107) and Net result for the year (+€15,194)
- Receivables within one year +€8,385
up €8,385 (+186.7%), from €4,491 to €12,876
of which Trade receivables: +€6,764
- Tangible fixed assets +€8,371
up €8,371 (+178.1%), from €4,700 to €13,071
- Other debts +€53,107
up €53,107 (+355.8%), from €14,924 to €68,031
- Reserves -€28,731
down €28,731 (-38.4%), from €74,811 to €46,080
of which Distributable reserves: -€28,731
- Trade debts +€6,825
up €6,825 (+454.8%), from €1,501 to €8,326
- Tax, wage and social debts -€1,898
down €1,898 (-22.8%), from €8,331 to €6,433
- Gross operating margin +€2,862
up €2,862 (+12.8%), from €22,282 to €25,143
- Depreciation +€2,044
up €2,044 (+283.9%), from €720 to €2,764
- Financial income +€602
up €602 (+177.5%), from €339 to €941
- Other operating charges -€393
down €393 (-29.8%), from €1,321 to €928
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.
Cash bridge derived
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 | €147,935 | €177,238 | +€29,303 | +19.8% |
| Fixed assets | 21/28 | €5,900 | €14,271 | +€8,371 | +141.9% |
| Tangible fixed assets | 22/27 | €4,700 | €13,071 | +€8,371 | +178.1% |
| Furniture and vehicles | 24 | €4,700 | €13,071 | +€8,371 | +178.1% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €142,035 | €162,967 | +€20,932 | +14.7% |
| Amounts receivable within one year | 40/41 | €4,491 | €12,876 | +€8,385 | +186.7% |
| Trade receivables | 40 | €4,018 | €10,782 | +€6,764 | +168.3% |
| Other amounts receivable | 41 | €472 | €2,094 | +€1,622 | +343.5% |
| Cash at bank and in hand | 54/58 | €136,967 | €148,875 | +€11,908 | +8.7% |
| Deferred charges and accrued income | 490/1 | €578 | €1,216 | +€638 | +110.4% |
| Total equity and liabilities | 10/49 | €147,935 | €177,238 | +€29,303 | +19.8% |
| Equity | 10/15 | €123,179 | €94,448 | -€28,731 | -23.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €74,811 | €46,080 | -€28,731 | -38.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €72,951 | €44,220 | -€28,731 | -39.4% |
| Profit (loss) carried forward | 14 | €35,968 | €35,968 | = | 0.0% |
| Amounts payable | 17/49 | €24,756 | €82,790 | +€58,034 | +234.4% |
| Amounts payable within one year | 42/48 | €24,756 | €82,790 | +€58,034 | +234.4% |
| Trade debts | 44 | €1,501 | €8,326 | +€6,825 | +454.8% |
| Suppliers | 440/4 | €1,501 | €8,326 | +€6,825 | +454.8% |
| Taxes, remuneration and social security | 45 | €8,331 | €6,433 | -€1,898 | -22.8% |
| Taxes | 450/3 | €8,331 | €6,433 | -€1,898 | -22.8% |
| Other amounts payable | 47/48 | €14,924 | €68,031 | +€53,107 | +355.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €720 | €2,764 | +€2,044 | +283.9% |
| Other operating charges | 640/8 | €1,321 | €928 | -€393 | -29.8% |
| Non-recurring operating charges | 66A | - | €389 | +€389 | |
| Gross operating margin | 9900 | €22,282 | €25,143 | +€2,862 | +12.8% |
| Operating profit (loss) | 9901 | €20,240 | €21,062 | +€822 | +4.1% |
| Financial income | 75/76B | €339 | €941 | +€602 | +177.5% |
| Recurring financial income | 75 | €339 | €941 | +€602 | +177.5% |
| Financial charges | 65/66B | €203 | €319 | +€117 | +57.7% |
| Recurring financial charges | 65 | €203 | €319 | +€117 | +57.7% |
| Profit (loss) for the period before taxes | 9903 | €20,377 | €21,684 | +€1,307 | +6.4% |
| Income taxes | 67/77 | €6,630 | €6,489 | -€140 | -2.1% |
| Profit (loss) for the period | 9904 | €13,747 | €15,194 | +€1,447 | +10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,747 | €15,194 | +€1,447 | +10.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.