NOBEL: 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.
NOBEL
Largest movements
- Tangible fixed assets -€97,214
down €97,214 (-6.1%), from €1.6m to €1.5m
of which Land and buildings: -€100,893
- Cash +€75,247
up €75,247 (+252%), from €29,831 to €105,078
mainly Net result for the year (+€176,630) and Depreciation (+€101,267)
- Receivables within one year +€25,454
up €25,454 (+190,812%), from €13 to €25,468
of which Trade receivables: +€25,401
- Other debts -€178,500
down €178,500 (-12.4%), from €1.4m to €1.3m
- Reserves +€176,630
up €176,630 (+55.4%), from €318,807 to €495,437
of which Distributable reserves: +€176,630
- Gross operating margin +€221,996
up €221,996 (+174%), from €127,877 to €349,873
- Taxes +€50,320
up €50,320 (+537%), from €9,374 to €59,694
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.
Derived cash bridge
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 | €1,786,269 | €1,789,951 | +€3,682 | +0.2% |
| Fixed assets | 21/28 | €1,750,840 | €1,653,626 | -€97,214 | -5.6% |
| Tangible fixed assets | 22/27 | €1,585,412 | €1,488,198 | -€97,214 | -6.1% |
| Land and buildings | 22 | €1,585,032 | €1,484,139 | -€100,893 | -6.4% |
| Plant, machinery and equipment | 23 | €379 | €4,059 | +€3,680 | +970% |
| Financial fixed assets | 28 | €165,428 | €165,428 | = | 0.0% |
| Current assets | 29/58 | €35,429 | €136,325 | +€100,896 | +285% |
| Amounts receivable within one year | 40/41 | €13 | €25,468 | +€25,454 | +190,812% |
| Trade receivables | 40 | €13 | €25,414 | +€25,401 | +190,413% |
| Other amounts receivable | 41 | - | €53 | +€53 | |
| Cash at bank and in hand | 54/58 | €29,831 | €105,078 | +€75,247 | +252% |
| Deferred charges and accrued income | 490/1 | €5,585 | €5,779 | +€194 | +3.5% |
| Total equity and liabilities | 10/49 | €1,786,269 | €1,789,951 | +€3,682 | +0.2% |
| Equity | 10/15 | €337,407 | €514,037 | +€176,630 | +52.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €318,807 | €495,437 | +€176,630 | +55.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €318,807 | €495,437 | +€176,630 | +55.4% |
| Amounts payable | 17/49 | €1,448,862 | €1,275,913 | -€172,948 | -11.9% |
| Amounts payable within one year | 42/48 | €1,448,862 | €1,275,913 | -€172,948 | -11.9% |
| Trade debts | 44 | €1,463 | €1,166 | -€297 | -20.3% |
| Suppliers | 440/4 | €1,463 | €1,166 | -€297 | -20.3% |
| Taxes, remuneration and social security | 45 | €3,815 | €9,664 | +€5,849 | +153% |
| Taxes | 450/3 | €3,815 | €9,664 | +€5,849 | +153% |
| Other amounts payable | 47/48 | €1,443,583 | €1,265,083 | -€178,500 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,026 | €101,267 | +€241 | +0.2% |
| Other operating charges | 640/8 | €11,748 | €12,113 | +€365 | +3.1% |
| Gross operating margin | 9900 | €127,877 | €349,873 | +€221,996 | +174% |
| Operating profit (loss) | 9901 | €15,103 | €236,493 | +€221,390 | +1,466% |
| Financial income | 75/76B | €26 | €98 | +€71 | +271% |
| Recurring financial income | 75 | €26 | €98 | +€71 | +271% |
| Financial charges | 65/66B | €204 | €267 | +€63 | +30.9% |
| Recurring financial charges | 65 | €204 | €267 | +€63 | +30.9% |
| Profit (loss) for the period before taxes | 9903 | €14,925 | €236,324 | +€221,398 | +1,483% |
| Income taxes | 67/77 | €9,374 | €59,694 | +€50,320 | +537% |
| Profit (loss) for the period | 9904 | €5,552 | €176,630 | +€171,078 | +3,082% |
| Profit (loss) for the period to be appropriated | 9905 | €5,552 | €176,630 | +€171,078 | +3,082% |
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 14 October 2026 via checked.be.