NOALIASING: 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.
NOALIASING
Largest movements
- Cash -€352,741
down €352,741 (-16.8%), from €2.1m to €1.8m
mainly Other debts (-€683,131) and Trade debts (-€24,991)
- Receivables within one year -€112,477
down €112,477 (-27.5%), from €408,939 to €296,462
of which Other amounts receivable: -€77,973
- Other debts -€683,131
down €683,131 (-54.4%), from €1.3m to €572,308
- Tax, wage and social debts +€136,561
up €136,561 (+27.4%), from €497,665 to €634,226
of which Remuneration and social security: +€136,561
- Profit (loss) carried forward +€108,087
up €108,087 (+15.2%), from €709,910 to €817,997
- Staff costs +€774,908
up €774,908 (+53.1%), from €1.5m to €2.2m
- Gross operating margin +€503,943
up €503,943 (+26.6%), from €1.9m to €2.4m
- Taxes -€75,140
down €75,140 (-61.5%), from €122,106 to €46,967
- Financial charges +€47,354
up €47,354 (+426.4%), from €11,107 to €58,461
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 | €2,513,452 | €2,048,246 | -€465,206 | -18.5% |
| Current assets | 29/58 | €2,513,452 | €2,048,246 | -€465,206 | -18.5% |
| Amounts receivable within one year | 40/41 | €408,939 | €296,462 | -€112,477 | -27.5% |
| Trade receivables | 40 | €199,028 | €164,524 | -€34,504 | -17.3% |
| Other amounts receivable | 41 | €209,911 | €131,938 | -€77,973 | -37.1% |
| Cash at bank and in hand | 54/58 | €2,104,368 | €1,751,627 | -€352,741 | -16.8% |
| Deferred charges and accrued income | 490/1 | €144 | €156 | +€12 | +8.2% |
| Total equity and liabilities | 10/49 | €2,513,452 | €2,048,246 | -€465,206 | -18.5% |
| Equity | 10/15 | €724,170 | €832,257 | +€108,087 | +14.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €709,910 | €817,997 | +€108,087 | +15.2% |
| Amounts payable | 17/49 | €1,789,282 | €1,215,989 | -€573,293 | -32.0% |
| Amounts payable within one year | 42/48 | €1,778,096 | €1,206,535 | -€571,561 | -32.1% |
| Trade debts | 44 | €24,991 | €0 | -€24,991 | -100.0% |
| Suppliers | 440/4 | €24,991 | €0 | -€24,991 | -100.0% |
| Taxes, remuneration and social security | 45 | €497,665 | €634,226 | +€136,561 | +27.4% |
| Taxes | 450/3 | €9,916 | €9,916 | = | 0.0% |
| Remuneration and social security | 454/9 | €487,749 | €624,310 | +€136,561 | +28.0% |
| Other amounts payable | 47/48 | €1,255,439 | €572,308 | -€683,131 | -54.4% |
| Accrued charges and deferred income | 492/3 | €11,186 | €9,454 | -€1,732 | -15.5% |
| Remuneration, social security and pensions | 62 | €1,459,309 | €2,234,217 | +€774,908 | +53.1% |
| Other operating charges | 640/8 | €2,377 | €3,472 | +€1,095 | +46.0% |
| Gross operating margin | 9900 | €1,894,534 | €2,398,477 | +€503,943 | +26.6% |
| Operating profit (loss) | 9901 | €432,848 | €160,788 | -€272,060 | -62.9% |
| Financial income | 75/76B | €47,301 | €52,726 | +€5,426 | +11.5% |
| Recurring financial income | 75 | €47,301 | €52,726 | +€5,426 | +11.5% |
| Financial charges | 65/66B | €11,107 | €58,461 | +€47,354 | +426.4% |
| Recurring financial charges | 65 | €11,107 | €58,461 | +€47,354 | +426.4% |
| Profit (loss) for the period before taxes | 9903 | €469,042 | €155,054 | -€313,988 | -66.9% |
| Income taxes | 67/77 | €122,106 | €46,967 | -€75,140 | -61.5% |
| Profit (loss) for the period | 9904 | €346,936 | €108,087 | -€238,849 | -68.8% |
| Profit (loss) for the period to be appropriated | 9905 | €346,936 | €108,087 | -€238,849 | -68.8% |
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 4 October 2026 via checked.be.