M NOMAN: 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.
M NOMAN
Largest movements
- Stocks and contracts +€81,215
up €81,215 (+119.1%), from €68,211 to €149,426
- Cash -€21,439
down €21,439 (-83.3%), from €25,737 to €4,298
mainly Stocks and contracts (-€81,215) and Debts after one year (-€51,429)
- Receivables within one year +€3,878
up €3,878 (+82.0%), from €4,729 to €8,607
- Trade debts +€101,095
up €101,095 (+269.3%), from €37,543 to €138,639
- Debts after one year -€51,429
no longer reported in 2025 (was €51,429)
- Contributions +€5,000
new in 2025: €5,000
- Profit (loss) carried forward +€4,537
up €4,537 (+220.0%), from €2,062 to €6,598
- Tax, wage and social debts +€2,472
up €2,472 (+147.5%), from €1,676 to €4,148
of which Taxes: +€2,225
- Gross operating margin +€14,760
up €14,760 (+64.5%), from €22,901 to €37,661
- Staff costs +€10,906
up €10,906 (+55.7%), from €19,593 to €30,499
- Taxes +€997
up €997 (+193.4%), from €515 to €1,512
- Other operating charges +€424
up €424 (+81.5%), from €520 to €943
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 | €98,676 | €162,331 | +€63,655 | +64.5% |
| Current assets | 29/58 | €98,676 | €162,331 | +€63,655 | +64.5% |
| Stocks and contracts in progress | 3 | €68,211 | €149,426 | +€81,215 | +119.1% |
| Stocks | 30/36 | €68,211 | €149,426 | +€81,215 | +119.1% |
| Amounts receivable within one year | 40/41 | €4,729 | €8,607 | +€3,878 | +82.0% |
| Other amounts receivable | 41 | €4,729 | €8,607 | +€3,878 | +82.0% |
| Cash at bank and in hand | 54/58 | €25,737 | €4,298 | -€21,439 | -83.3% |
| Total equity and liabilities | 10/49 | €98,676 | €162,331 | +€63,655 | +64.5% |
| Equity | 10/15 | €2,062 | €11,598 | +€9,537 | +462.6% |
| Contributions | 10/11 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | €2,062 | €6,598 | +€4,537 | +220.0% |
| Amounts payable | 17/49 | €96,615 | €150,733 | +€54,118 | +56.0% |
| Amounts payable after more than one year | 17 | €51,429 | - | -€51,429 | |
| Financial debts | 170/4 | €51,429 | - | -€51,429 | |
| Amounts payable within one year | 42/48 | €45,186 | €150,733 | +€105,547 | +233.6% |
| Trade debts | 44 | €37,543 | €138,639 | +€101,095 | +269.3% |
| Suppliers | 440/4 | €37,543 | €138,639 | +€101,095 | +269.3% |
| Taxes, remuneration and social security | 45 | €1,676 | €4,148 | +€2,472 | +147.5% |
| Taxes | 450/3 | €694 | €2,919 | +€2,225 | +320.6% |
| Remuneration and social security | 454/9 | €982 | €1,229 | +€247 | +25.2% |
| Other amounts payable | 47/48 | €5,966 | €7,946 | +€1,980 | +33.2% |
| Remuneration, social security and pensions | 62 | €19,593 | €30,499 | +€10,906 | +55.7% |
| Other operating charges | 640/8 | €520 | €943 | +€424 | +81.5% |
| Gross operating margin | 9900 | €22,901 | €37,661 | +€14,760 | +64.5% |
| Operating profit (loss) | 9901 | €2,788 | €6,218 | +€3,431 | +123.1% |
| Financial charges | 65/66B | €211 | €170 | -€41 | -19.5% |
| Recurring financial charges | 65 | €211 | €170 | -€41 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €2,577 | €6,049 | +€3,472 | +134.7% |
| Income taxes | 67/77 | €515 | €1,512 | +€997 | +193.4% |
| Profit (loss) for the period | 9904 | €2,062 | €4,537 | +€2,475 | +120.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,062 | €4,537 | +€2,475 | +120.0% |
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.