NOAE: 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.
NOAE
Largest movements
- Cash +€56,879
up €56,879 (+37.4%), from €152,007 to €208,886
mainly Net result for the year (+€55,225) and Tax, wage and social debts (+€15,327)
- Receivables within one year +€15,564
new in 2025: €15,564
- Profit (loss) carried forward +€55,225
up €55,225 (+40.5%), from €136,411 to €191,637
- Tax, wage and social debts +€15,327
up €15,327 (+111.4%), from €13,764 to €29,091
- Gross operating margin +€32,961
up €32,961 (+81.6%), from €40,382 to €73,343
- Taxes +€8,191
up €8,191 (+113.0%), from €7,250 to €15,440
- Depreciation -€3,350
down €3,350 (-60.7%), from €5,519 to €2,169
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 | €154,176 | €224,728 | +€70,552 | +45.8% |
| Fixed assets | 21/28 | €2,169 | - | -€2,169 | |
| Tangible fixed assets | 22/27 | €2,169 | - | -€2,169 | |
| Furniture and vehicles | 24 | €2,169 | - | -€2,169 | |
| Current assets | 29/58 | €152,007 | €224,728 | +€72,721 | +47.8% |
| Amounts receivable within one year | 40/41 | - | €15,564 | +€15,564 | |
| Trade receivables | 40 | - | €15,564 | +€15,564 | |
| Cash at bank and in hand | 54/58 | €152,007 | €208,886 | +€56,879 | +37.4% |
| Deferred charges and accrued income | 490/1 | - | €278 | +€278 | |
| Total equity and liabilities | 10/49 | €154,176 | €224,728 | +€70,552 | +45.8% |
| Equity | 10/15 | €138,911 | €194,137 | +€55,225 | +39.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,411 | €191,637 | +€55,225 | +40.5% |
| Amounts payable | 17/49 | €15,264 | €30,591 | +€15,327 | +100.4% |
| Amounts payable within one year | 42/48 | €15,264 | €30,591 | +€15,327 | +100.4% |
| Taxes, remuneration and social security | 45 | €13,764 | €29,091 | +€15,327 | +111.4% |
| Taxes | 450/3 | €13,764 | €29,091 | +€15,327 | +111.4% |
| Other amounts payable | 47/48 | €1,501 | €1,501 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,519 | €2,169 | -€3,350 | -60.7% |
| Other operating charges | 640/8 | €625 | €465 | -€160 | -25.5% |
| Gross operating margin | 9900 | €40,382 | €73,343 | +€32,961 | +81.6% |
| Operating profit (loss) | 9901 | €34,238 | €70,709 | +€36,471 | +106.5% |
| Financial charges | 65/66B | €72 | €43 | -€29 | -40.3% |
| Recurring financial charges | 65 | €72 | €43 | -€29 | -40.3% |
| Profit (loss) for the period before taxes | 9903 | €34,166 | €70,666 | +€36,500 | +106.8% |
| Income taxes | 67/77 | €7,250 | €15,440 | +€8,191 | +113.0% |
| Profit (loss) for the period | 9904 | €26,916 | €55,225 | +€28,309 | +105.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,916 | €55,225 | +€28,309 | +105.2% |
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 12 October 2026 via checked.be.