NOAL: 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.
What changed
NOAL
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€38,136
2024 · €676,839-€638,703
Equity
€5.3m
2024 · €3.7m+€1.6m
Cash
€251,364
2024 · €624,974-€373,610
Balance sheet total
€21.3m
2024 · €18.5m+€2.8m
Largest movements
Assets
- Receivables within one year +€2.4m
up €2.4m (+94.5%), from €2.5m to €4.9m
of which Other amounts receivable: +€1.7m
- Tangible fixed assets +€1.2m
up €1.2m (+16.4%), from €7.4m to €8.6m
of which Land and buildings: +€1.2m
- Stocks and contracts -€696,397
down €696,397 (-15.5%), from €4.5m to €3.8m
- Cash -€373,610
down €373,610 (-59.8%), from €624,974 to €251,364
mainly Receivables within one year (-€2.4m) and Investment in fixed assets (net) (-€1.6m)
- Financial fixed assets +€218,228
up €218,228 (+6.3%), from €3.4m to €3.7m
Equity and liabilities
- Contributions +€1.5m
up €1.5m (+50.2%), from €3.0m to €4.5m
- Other debts +€734,708
up €734,708 (+8.1%), from €9.1m to €9.8m
Income statement
- Gross operating margin -€4.5m
down €4.5m (-93.4%), from €4.8m to €318,366
- Financial income +€428,156
up €428,156 (+362.1%), from €118,244 to €546,400
- Taxes -€155,809
down €155,809 (-95.2%), from €163,678 to €7,869
- Financial charges +€67,107
up €67,107 (+13.3%), from €504,405 to €571,512
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.
Result 2024
€676,839
Gross operating margin
-€4.5m
Depreciation
-€36,782
Other operating charges
-€12,807
Other operating items
+€3.4m
Financial income
+€428,156
Financial charges
-€67,107
Taxes
+€155,809
Result 2025
€38,136
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.
From operations
-€519,856
Investment
-€1.6m
Financing
+€1.8m
Cash 2024
€624,974
From operations (derived)
-€519,856
Net result for the year
+€38,136
Depreciation
+€210,248
Stocks and contracts
+€696,397
Receivables within one year
-€2.4m
Deferred charges and accrued income
-€91,530
Provisions
-€672
Trade debts
+€160,057
Tax, wage and social debts
-€113,263
Other debts
+€734,708
Accrued charges and deferred income
+€208,856
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Current investments
-€3
Financing
+€1.8m
Debts after one year
+€85,119
Current portion of long-term debt
+€97,284
Short-term financial debts
+€94,000
Contributions, distributions and other
+€1.5m
Cash 2025
€251,364
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,494,112 | €21,311,938 | +€2.8m | +15.2% |
| Fixed assets | 21/28 | €10,865,307 | €12,298,812 | +€1.4m | +13.2% |
| Tangible fixed assets | 22/27 | €7,418,063 | €8,633,341 | +€1.2m | +16.4% |
| Land and buildings | 22 | €6,200,362 | €7,419,677 | +€1.2m | +19.7% |
| Plant, machinery and equipment | 23 | €15,094 | €11,480 | -€3,614 | -23.9% |
| Furniture and vehicles | 24 | €846 | €423 | -€423 | -50.0% |
| Other tangible fixed assets | 26 | €1,201,761 | €1,201,761 | = | 0.0% |
| Financial fixed assets | 28 | €3,447,243 | €3,665,471 | +€218,228 | +6.3% |
| Current assets | 29/58 | €7,628,806 | €9,013,126 | +€1.4m | +18.1% |
| Stocks and contracts in progress | 3 | €4,501,801 | €3,805,404 | -€696,397 | -15.5% |
| Stocks | 30/36 | €4,501,801 | €3,805,404 | -€696,397 | -15.5% |
| Amounts receivable within one year | 40/41 | €2,501,187 | €4,863,981 | +€2.4m | +94.5% |
| Trade receivables | 40 | €35,336 | €730,356 | +€695,020 | +1966.9% |
| Other amounts receivable | 41 | €2,465,850 | €4,133,624 | +€1.7m | +67.6% |
| Current investments | 50/53 | €631 | €635 | +€3 | +0.5% |
| Cash at bank and in hand | 54/58 | €624,974 | €251,364 | -€373,610 | -59.8% |
| Deferred charges and accrued income | 490/1 | €212 | €91,742 | +€91,530 | +43115.3% |
| Total equity and liabilities | 10/49 | €18,494,112 | €21,311,938 | +€2.8m | +15.2% |
| Equity | 10/15 | €3,733,813 | €5,285,550 | +€1.6m | +41.6% |
| Contributions | 10/11 | €3,012,400 | €4,526,000 | +€1.5m | +50.2% |
| Reserves | 13 | €37,074 | €35,770 | -€1,304 | -3.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €35,214 | €33,910 | -€1,304 | -3.7% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €684,339 | €723,780 | +€39,440 | +5.8% |
| Provisions and deferred taxes | 16 | €18,141 | €17,469 | -€672 | -3.7% |
| Deferred taxes | 168 | €18,141 | €17,469 | -€672 | -3.7% |
| Amounts payable | 17/49 | €14,742,158 | €16,008,919 | +€1.3m | +8.6% |
| Amounts payable after more than one year | 17 | €2,519,582 | €2,604,701 | +€85,119 | +3.4% |
| Financial debts | 170/4 | €2,519,582 | €2,604,701 | +€85,119 | +3.4% |
| Amounts payable within one year | 42/48 | €11,944,037 | €12,916,823 | +€972,786 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €297,597 | €394,881 | +€97,284 | +32.7% |
| Financial debts | 43 | €2,327,990 | €2,421,990 | +€94,000 | +4.0% |
| Credit institutions | 430/8 | €2,327,990 | €2,421,990 | +€94,000 | +4.0% |
| Trade debts | 44 | €38,219 | €198,276 | +€160,057 | +418.8% |
| Suppliers | 440/4 | €38,219 | €198,276 | +€160,057 | +418.8% |
| Taxes, remuneration and social security | 45 | €193,441 | €80,178 | -€113,263 | -58.6% |
| Taxes | 450/3 | €193,441 | €80,178 | -€113,263 | -58.6% |
| Other amounts payable | 47/48 | €9,086,790 | €9,821,498 | +€734,708 | +8.1% |
| Accrued charges and deferred income | 492/3 | €278,539 | €487,395 | +€208,856 | +75.0% |
| Non-recurring operating income | 76A | €4,500,000 | €9,239 | -€4.5m | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €173,466 | €210,248 | +€36,782 | +21.2% |
| Other operating charges | 640/8 | €24,866 | €37,673 | +€12,807 | +51.5% |
| Non-recurring operating charges | 66A | €3,413,623 | €0 | -€3.4m | -100.0% |
| Gross operating margin | 9900 | €4,837,962 | €318,366 | -€4.5m | -93.4% |
| Operating profit (loss) | 9901 | €1,226,006 | €70,445 | -€1.2m | -94.3% |
| Financial income | 75/76B | €118,244 | €546,400 | +€428,156 | +362.1% |
| Recurring financial income | 75 | €118,244 | €546,400 | +€428,156 | +362.1% |
| Financial charges | 65/66B | €504,405 | €571,512 | +€67,107 | +13.3% |
| Recurring financial charges | 65 | €504,405 | €571,512 | +€67,107 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €839,845 | €45,334 | -€794,512 | -94.6% |
| Transfer from deferred taxes | 780 | €672 | €672 | = | 0.0% |
| Income taxes | 67/77 | €163,678 | €7,869 | -€155,809 | -95.2% |
| Profit (loss) for the period | 9904 | €676,839 | €38,136 | -€638,703 | -94.4% |
| Transfer from tax-exempt reserves | 789 | €1,304 | €1,304 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €678,144 | €39,440 | -€638,703 | -94.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.