NOA MICHIELS: 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.
NOA MICHIELS
Largest movements
- Cash +€27,442
up €27,442 (+1,613%), from €1,701 to €29,144
mainly Net result for the year (+€17,546) and Tax, wage and social debts (+€7,711)
- Receivables within one year -€2,753
down €2,753 (-13.7%), from €20,150 to €17,396
of which Trade receivables: -€2,704
- Profit (loss) carried forward +€17,546
up €17,546 (+114%), from €15,364 to €32,910
- Tax, wage and social debts +€7,711
up €7,711 (+201%), from €3,843 to €11,555
of which Taxes: +€5,211
- Trade debts -€1,055
down €1,055 (-49.6%), from €2,126 to €1,071
- Gross operating margin +€17,288
up €17,288 (+250%), from €6,924 to €24,212
- Taxes +€3,546
up €3,546 (+318%), from €1,113 to €4,660
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 | €23,333 | €47,686 | +€24,352 | +104% |
| Current assets | 29/58 | €23,333 | €47,686 | +€24,352 | +104% |
| Amounts receivable within one year | 40/41 | €20,150 | €17,396 | -€2,753 | -13.7% |
| Trade receivables | 40 | €13,191 | €10,487 | -€2,704 | -20.5% |
| Other amounts receivable | 41 | €6,959 | €6,909 | -€50 | -0.7% |
| Cash at bank and in hand | 54/58 | €1,701 | €29,144 | +€27,442 | +1,613% |
| Deferred charges and accrued income | 490/1 | €1,482 | €1,146 | -€337 | -22.7% |
| Total equity and liabilities | 10/49 | €23,333 | €47,686 | +€24,352 | +104% |
| Equity | 10/15 | €17,364 | €34,910 | +€17,546 | +101% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,364 | €32,910 | +€17,546 | +114% |
| Amounts payable | 17/49 | €5,969 | €12,776 | +€6,806 | +114% |
| Amounts payable within one year | 42/48 | €5,969 | €12,626 | +€6,656 | +112% |
| Trade debts | 44 | €2,126 | €1,071 | -€1,055 | -49.6% |
| Suppliers | 440/4 | €2,126 | €1,071 | -€1,055 | -49.6% |
| Taxes, remuneration and social security | 45 | €3,843 | €11,555 | +€7,711 | +201% |
| Taxes | 450/3 | €3,843 | €9,055 | +€5,211 | +136% |
| Remuneration and social security | 454/9 | €0 | €2,500 | +€2,500 | |
| Accrued charges and deferred income | 492/3 | - | €150 | +€150 | |
| Other operating charges | 640/8 | €632 | €617 | -€14 | -2.3% |
| Gross operating margin | 9900 | €6,924 | €24,212 | +€17,288 | +250% |
| Operating profit (loss) | 9901 | €6,292 | €23,595 | +€17,303 | +275% |
| Financial charges | 65/66B | €1,518 | €1,389 | -€129 | -8.5% |
| Recurring financial charges | 65 | €1,518 | €1,389 | -€129 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €4,774 | €22,206 | +€17,432 | +365% |
| Income taxes | 67/77 | €1,113 | €4,660 | +€3,546 | +318% |
| Profit (loss) for the period | 9904 | €3,660 | €17,546 | +€13,886 | +379% |
| Profit (loss) for the period to be appropriated | 9905 | €3,660 | €17,546 | +€13,886 | +379% |
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 19 October 2026 via checked.be.