NOBEL: 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.
NOBEL
Largest movements
- Receivables within one year +€4,095
up €4,095 (+243.8%), from €1,679 to €5,774
of which Trade receivables: +€3,320
- Cash -€214
down €214 (-49.4%), from €434 to €220
mainly Debts after one year (-€50,485) and Receivables within one year (-€4,095)
- Debts after one year -€50,485
down €50,485 (-62.7%), from €80,519 to €30,034
- Other debts +€25,907
up €25,907 (+113.1%), from €22,911 to €48,818
- Profit (loss) carried forward +€23,546
up €23,546 (+19.3%), from -€122,234 to -€98,688
- Trade debts +€4,865
up €4,865 (+37.8%), from €12,858 to €17,723
- Financial income +€26,074
new in 2025: €26,074
- Gross operating margin -€6,636
down €6,636, from €5,375 to -€1,261
- Other operating charges -€757
down €757 (-55.7%), from €1,358 to €601
- Financial charges +€81
up €81 (+13.9%), from €585 to €666
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 | €2,114 | €5,994 | +€3,880 | +183.6% |
| Current assets | 29/58 | €2,114 | €5,994 | +€3,880 | +183.6% |
| Amounts receivable within one year | 40/41 | €1,679 | €5,774 | +€4,095 | +243.8% |
| Trade receivables | 40 | €0 | €3,320 | +€3,320 | |
| Other amounts receivable | 41 | €1,679 | €2,454 | +€774 | +46.1% |
| Cash at bank and in hand | 54/58 | €434 | €220 | -€214 | -49.4% |
| Total equity and liabilities | 10/49 | €2,114 | €5,994 | +€3,880 | +183.6% |
| Equity | 10/15 | -€114,174 | -€90,628 | +€23,546 | +20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,234 | -€98,688 | +€23,546 | +19.3% |
| Amounts payable | 17/49 | €116,287 | €96,622 | -€19,666 | -16.9% |
| Amounts payable after more than one year | 17 | €80,519 | €30,034 | -€50,485 | -62.7% |
| Trade debts | 175 | €80,519 | €30,034 | -€50,485 | -62.7% |
| Amounts payable within one year | 42/48 | €35,769 | €66,541 | +€30,772 | +86.0% |
| Trade debts | 44 | €12,858 | €17,723 | +€4,865 | +37.8% |
| Suppliers | 440/4 | €12,858 | €17,723 | +€4,865 | +37.8% |
| Other amounts payable | 47/48 | €22,911 | €48,818 | +€25,907 | +113.1% |
| Accrued charges and deferred income | 492/3 | - | €47 | +€47 | |
| Non-recurring operating income | 76A | €14,423 | €207 | -€14,216 | -98.6% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €1,358 | €601 | -€757 | -55.7% |
| Gross operating margin | 9900 | €5,375 | -€1,261 | -€6,636 | |
| Operating profit (loss) | 9901 | €4,017 | -€1,862 | -€5,879 | |
| Financial income | 75/76B | - | €26,074 | +€26,074 | |
| Recurring financial income | 75 | - | €26,074 | +€26,074 | |
| Financial charges | 65/66B | €585 | €666 | +€81 | +13.9% |
| Recurring financial charges | 65 | €585 | €666 | +€81 | +13.9% |
| Profit (loss) for the period before taxes | 9903 | €3,432 | €23,546 | +€20,113 | +586.0% |
| Profit (loss) for the period | 9904 | €3,432 | €23,546 | +€20,113 | +586.0% |
| Profit (loss) for the period to be appropriated | 9905 | €3,432 | €23,546 | +€20,113 | +586.0% |
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 2 October 2026 via checked.be.