NOACK CREATION: 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.
NOACK CREATION
Largest movements
- Stocks and contracts +€2,744
up €2,744 (+16.7%), from €16,415 to €19,158
- Cash -€2,266
down €2,266 (-67.8%), from €3,345 to €1,078
mainly Stocks and contracts (-€2,744) and Investment in fixed assets (net) (-€554)
- Receivables within one year +€316
up €316 (+27687.7%), from €1 to €317
- Reserves +€800
up €800 (+26.7%), from €3,000 to €3,800
- Gross operating margin -€2,440
down €2,440 (-52.0%), from €4,690 to €2,250
- Depreciation +€64
up €64 (+10.0%), from €641 to €705
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 | €20,688 | €21,330 | +€642 | +3.1% |
| Fixed assets | 21/28 | €928 | €776 | -€152 | -16.3% |
| Tangible fixed assets | 22/27 | €928 | €776 | -€152 | -16.3% |
| Furniture and vehicles | 24 | €928 | €776 | -€152 | -16.3% |
| Current assets | 29/58 | €19,760 | €20,554 | +€793 | +4.0% |
| Stocks and contracts in progress | 3 | €16,415 | €19,158 | +€2,744 | +16.7% |
| Stocks | 30/36 | €16,415 | €19,158 | +€2,744 | +16.7% |
| Amounts receivable within one year | 40/41 | €1 | €317 | +€316 | +27687.7% |
| Other amounts receivable | 41 | €1 | €317 | +€316 | +27687.7% |
| Cash at bank and in hand | 54/58 | €3,345 | €1,078 | -€2,266 | -67.8% |
| Total equity and liabilities | 10/49 | €20,688 | €21,330 | +€642 | +3.1% |
| Equity | 10/15 | €5,025 | €5,855 | +€830 | +16.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,800 | +€800 | +26.7% |
| Distributable reserves | 133 | €3,000 | €3,800 | +€800 | +26.7% |
| Profit (loss) carried forward | 14 | -€2,975 | -€2,945 | +€30 | +1.0% |
| Amounts payable | 17/49 | €15,663 | €15,475 | -€188 | -1.2% |
| Amounts payable within one year | 42/48 | €15,663 | €15,475 | -€188 | -1.2% |
| Taxes, remuneration and social security | 45 | €464 | €276 | -€188 | -40.5% |
| Taxes | 450/3 | €464 | €276 | -€188 | -40.5% |
| Other amounts payable | 47/48 | €15,199 | €15,199 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €641 | €705 | +€64 | +10.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €4,690 | €2,250 | -€2,440 | -52.0% |
| Operating profit (loss) | 9901 | €3,662 | €1,145 | -€2,517 | -68.7% |
| Financial income | 75/76B | €2 | €4 | +€2 | +109.6% |
| Recurring financial income | 75 | €2 | €4 | +€2 | +109.6% |
| Financial charges | 65/66B | €41 | €42 | +€1 | +1.7% |
| Recurring financial charges | 65 | €41 | €42 | +€1 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €3,622 | €1,107 | -€2,515 | -69.4% |
| Income taxes | 67/77 | €300 | €277 | -€23 | -7.6% |
| Profit (loss) for the period | 9904 | €3,322 | €830 | -€2,493 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,322 | €830 | -€2,493 | -75.0% |
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 29 September 2026 via checked.be.