Noaco: 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.
Noaco
Largest movements
- Financial fixed assets +€275,073
up €275,073 (+37.4%), from €736,232 to €1.0m
- Deferred charges and accrued income -€86,281
down €86,281 (-94.4%), from €91,363 to €5,082
- Receivables within one year +€44,980
up €44,980, from €0 to €44,980
of which Other amounts receivable: +€44,980
- Debts after one year +€414,412
up €414,412 (+16.4%), from €2.5m to €2.9m
- Other debts -€164,607
down €164,607 (-74.5%), from €220,831 to €56,223
- Profit (loss) carried forward -€63,820
down €63,820 (-22.9%), from -€278,180 to -€341,999
- Financial income -€42,303
down €42,303 (-38.6%), from €109,650 to €67,347
- Financial charges +€28,385
up €28,385 (+35.4%), from €80,202 to €108,586
- Gross operating margin +€6,249
up €6,249 (+11.6%), from €54,051 to €60,300
- Depreciation +€2,566
up €2,566 (+3.6%), from €70,580 to €73,146
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 | €3,368,166 | €3,564,479 | +€196,313 | +5.8% |
| Fixed assets | 21/28 | €3,190,996 | €3,430,438 | +€239,442 | +7.5% |
| Tangible fixed assets | 22/27 | €2,454,763 | €2,419,133 | -€35,631 | -1.5% |
| Land and buildings | 22 | €2,454,763 | €2,419,133 | -€35,631 | -1.5% |
| Financial fixed assets | 28 | €736,232 | €1,011,305 | +€275,073 | +37.4% |
| Current assets | 29/58 | €177,170 | €134,041 | -€43,129 | -24.3% |
| Amounts receivable within one year | 40/41 | €0 | €44,980 | +€44,980 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €44,980 | +€44,980 | |
| Cash at bank and in hand | 54/58 | €85,808 | €83,980 | -€1,828 | -2.1% |
| Deferred charges and accrued income | 490/1 | €91,363 | €5,082 | -€86,281 | -94.4% |
| Total equity and liabilities | 10/49 | €3,368,166 | €3,564,479 | +€196,313 | +5.8% |
| Equity | 10/15 | €561,969 | €498,149 | -€63,820 | -11.4% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Revaluation surpluses | 12 | €690,148 | €690,148 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€278,180 | -€341,999 | -€63,820 | -22.9% |
| Amounts payable | 17/49 | €2,806,197 | €3,066,330 | +€260,133 | +9.3% |
| Amounts payable after more than one year | 17 | €2,527,844 | €2,942,257 | +€414,412 | +16.4% |
| Financial debts | 170/4 | €2,527,844 | €2,942,257 | +€414,412 | +16.4% |
| Amounts payable within one year | 42/48 | €278,353 | €112,614 | -€165,739 | -59.5% |
| Current portion of amounts payable after more than one year | 42 | €54,590 | €55,736 | +€1,146 | +2.1% |
| Trade debts | 44 | €2,932 | €654 | -€2,277 | -77.7% |
| Suppliers | 440/4 | €2,932 | €654 | -€2,277 | -77.7% |
| Other amounts payable | 47/48 | €220,831 | €56,223 | -€164,607 | -74.5% |
| Accrued charges and deferred income | 492/3 | €0 | €11,459 | +€11,459 | |
| Non-recurring operating income | 76A | €0 | €732 | +€732 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,580 | €73,146 | +€2,566 | +3.6% |
| Other operating charges | 640/8 | €9,461 | €9,734 | +€273 | +2.9% |
| Gross operating margin | 9900 | €54,051 | €60,300 | +€6,249 | +11.6% |
| Operating profit (loss) | 9901 | -€25,990 | -€22,580 | +€3,409 | +13.1% |
| Financial income | 75/76B | €109,650 | €67,347 | -€42,303 | -38.6% |
| Recurring financial income | 75 | €109,650 | €67,347 | -€42,303 | -38.6% |
| Financial charges | 65/66B | €80,202 | €108,586 | +€28,385 | +35.4% |
| Recurring financial charges | 65 | €80,202 | €108,586 | +€28,385 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €3,459 | -€63,820 | -€67,279 | |
| Profit (loss) for the period | 9904 | €3,459 | -€63,820 | -€67,279 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,459 | -€63,820 | -€67,279 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.