NANCY NOYEZ: what changed
NANCY NOYEZ
Largest movements
- Receivables within one year -€68,424
down €68,424 (-12.7%), from €536,793 to €468,369
of which Other amounts receivable: -€55,089
- Tangible fixed assets -€38,838
down €38,838 (-6.9%), from €564,899 to €526,061
of which Land and buildings: -€36,817
- Cash -€38,761
down €38,761 (-47.0%), from €82,463 to €43,702
mainly Tax, wage and social debts (-€492,262) and Contributions, distributions and other (-€235,858)
- Intangible fixed assets +€16,554
new in 2025: €16,554
- Tax, wage and social debts -€492,262
down €492,262 (-99.1%), from €496,823 to €4,561
- Short-term financial debts +€235,207
up €235,207 (+1,599%), from €14,712 to €249,919
- Reserves -€177,154
no longer reported in 2025 (was €177,154)
- Other debts +€150,858
up €150,858 (+177%), from €85,000 to €235,858
- Debts after one year +€126,234
up €126,234 (+32.7%), from €385,753 to €511,987
- Gross operating margin -€63,124
down €63,124 (-32.4%), from €195,027 to €131,903
- Taxes -€20,064
down €20,064 (-52.8%), from €38,015 to €17,951
- Financial charges +€14,393
up €14,393 (+255%), from €5,634 to €20,027
- Financial income +€12,496
up €12,496 (+713%), from €1,752 to €14,248
- Depreciation +€5,981
up €5,981 (+14.6%), from €40,981 to €46,963
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,223,219 | €1,096,760 | -€126,459 | -10.3% |
| Fixed assets | 21/28 | €564,899 | €542,615 | -€22,284 | -3.9% |
| Intangible fixed assets | 21 | - | €16,554 | +€16,554 | |
| Tangible fixed assets | 22/27 | €564,899 | €526,061 | -€38,838 | -6.9% |
| Land and buildings | 22 | €522,911 | €486,095 | -€36,817 | -7.0% |
| Plant, machinery and equipment | 23 | €22,110 | €18,674 | -€3,436 | -15.5% |
| Furniture and vehicles | 24 | €12,997 | €14,412 | +€1,415 | +10.9% |
| Other tangible fixed assets | 26 | €6,881 | €6,881 | = | 0.0% |
| Current assets | 29/58 | €658,320 | €554,146 | -€104,175 | -15.8% |
| Amounts receivable within one year | 40/41 | €536,793 | €468,369 | -€68,424 | -12.7% |
| Trade receivables | 40 | €14,610 | €1,275 | -€13,335 | -91.3% |
| Other amounts receivable | 41 | €522,184 | €467,094 | -€55,089 | -10.5% |
| Current investments | 50/53 | €39,000 | €39,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €82,463 | €43,702 | -€38,761 | -47.0% |
| Deferred charges and accrued income | 490/1 | €64 | €3,074 | +€3,011 | +4,740% |
| Total equity and liabilities | 10/49 | €1,223,219 | €1,096,760 | -€126,459 | -10.3% |
| Equity | 10/15 | €182,154 | €5,000 | -€177,154 | -97.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €177,154 | - | -€177,154 | |
| Distributable reserves | 133 | €177,154 | - | -€177,154 | |
| Amounts payable | 17/49 | €1,041,066 | €1,091,760 | +€50,695 | +4.9% |
| Amounts payable after more than one year | 17 | €385,753 | €511,987 | +€126,234 | +32.7% |
| Financial debts | 170/4 | €385,753 | €511,987 | +€126,234 | +32.7% |
| Amounts payable within one year | 42/48 | €655,313 | €575,418 | -€79,895 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €31,646 | €74,634 | +€42,988 | +136% |
| Financial debts | 43 | €14,712 | €249,919 | +€235,207 | +1,599% |
| Credit institutions | 430/8 | €14,712 | €249,919 | +€235,207 | +1,599% |
| Trade debts | 44 | €27,132 | €10,446 | -€16,686 | -61.5% |
| Suppliers | 440/4 | €27,132 | €10,446 | -€16,686 | -61.5% |
| Taxes, remuneration and social security | 45 | €496,823 | €4,561 | -€492,262 | -99.1% |
| Taxes | 450/3 | €496,823 | €4,561 | -€492,262 | -99.1% |
| Other amounts payable | 47/48 | €85,000 | €235,858 | +€150,858 | +177% |
| Accrued charges and deferred income | 492/3 | - | €4,356 | +€4,356 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,981 | €46,963 | +€5,981 | +14.6% |
| Other operating charges | 640/8 | €596 | €2,506 | +€1,910 | +320% |
| Gross operating margin | 9900 | €195,027 | €131,903 | -€63,124 | -32.4% |
| Operating profit (loss) | 9901 | €153,450 | €82,434 | -€71,015 | -46.3% |
| Financial income | 75/76B | €1,752 | €14,248 | +€12,496 | +713% |
| Recurring financial income | 75 | €1,752 | €14,248 | +€12,496 | +713% |
| Financial charges | 65/66B | €5,634 | €20,027 | +€14,393 | +255% |
| Recurring financial charges | 65 | €5,634 | €20,027 | +€14,393 | +255% |
| Profit (loss) for the period before taxes | 9903 | €149,568 | €76,655 | -€72,913 | -48.7% |
| Income taxes | 67/77 | €38,015 | €17,951 | -€20,064 | -52.8% |
| Profit (loss) for the period | 9904 | €111,553 | €58,704 | -€52,849 | -47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €111,553 | €58,704 | -€52,849 | -47.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.