Nobel Development: 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 Development
Largest movements
- Tangible fixed assets -€104,471
down €104,471 (-6.2%), from €1.7m to €1.6m
- Cash +€73,440
up €73,440 (+1201.6%), from €6,112 to €79,552
mainly Other debts (+€485,081) and Depreciation (+€107,387)
- Receivables within one year -€47,476
down €47,476 (-87.9%), from €53,987 to €6,510
- Other debts +€485,081
up €485,081 (+54.3%), from €893,777 to €1.4m
- Debts after one year -€433,299
down €433,299 (-56.4%), from €768,834 to €335,535
- Profit (loss) carried forward -€103,667
down €103,667 (-102.7%), from -€100,986 to -€204,653
- Current portion of long-term debt -€29,569
down €29,569 (-45.0%), from €65,668 to €36,099
- Depreciation +€45,225
up €45,225 (+72.8%), from €62,162 to €107,387
- Gross operating margin -€22,008
down €22,008 (-11.8%), from €186,911 to €164,903
- Financial charges +€20,552
up €20,552 (+33.8%), from €60,751 to €81,302
- Write-downs +€14,121
new in 2025: €14,121
- Other operating charges +€7,710
up €7,710 (+13.3%), from €58,049 to €65,759
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 | €1,736,138 | €1,655,991 | -€80,147 | -4.6% |
| Fixed assets | 21/28 | €1,671,880 | €1,567,409 | -€104,471 | -6.2% |
| Tangible fixed assets | 22/27 | €1,671,880 | €1,567,409 | -€104,471 | -6.2% |
| Other tangible fixed assets | 26 | €1,671,880 | €1,567,409 | -€104,471 | -6.2% |
| Current assets | 29/58 | €64,258 | €88,582 | +€24,324 | +37.9% |
| Amounts receivable within one year | 40/41 | €53,987 | €6,510 | -€47,476 | -87.9% |
| Trade receivables | 40 | €53,987 | €6,510 | -€47,476 | -87.9% |
| Cash at bank and in hand | 54/58 | €6,112 | €79,552 | +€73,440 | +1201.6% |
| Deferred charges and accrued income | 490/1 | €4,160 | €2,520 | -€1,640 | -39.4% |
| Total equity and liabilities | 10/49 | €1,736,138 | €1,655,991 | -€80,147 | -4.6% |
| Equity | 10/15 | -€986 | -€104,653 | -€103,667 | -10511.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€100,986 | -€204,653 | -€103,667 | -102.7% |
| Amounts payable | 17/49 | €1,737,125 | €1,760,644 | +€23,520 | +1.4% |
| Amounts payable after more than one year | 17 | €768,834 | €335,535 | -€433,299 | -56.4% |
| Financial debts | 170/4 | €768,834 | €335,535 | -€433,299 | -56.4% |
| Amounts payable within one year | 42/48 | €968,175 | €1,425,109 | +€456,935 | +47.2% |
| Current portion of amounts payable after more than one year | 42 | €65,668 | €36,099 | -€29,569 | -45.0% |
| Trade debts | 44 | €189 | €2,404 | +€2,215 | +1172.4% |
| Suppliers | 440/4 | €189 | €2,404 | +€2,215 | +1172.4% |
| Taxes, remuneration and social security | 45 | €8,541 | €7,748 | -€793 | -9.3% |
| Taxes | 450/3 | €8,541 | €7,748 | -€793 | -9.3% |
| Other amounts payable | 47/48 | €893,777 | €1,378,858 | +€485,081 | +54.3% |
| Accrued charges and deferred income | 492/3 | €116 | €0 | -€116 | -100.0% |
| Remuneration, social security and pensions | 62 | €1,128 | - | -€1,128 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,162 | €107,387 | +€45,225 | +72.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,121 | +€14,121 | |
| Other operating charges | 640/8 | €58,049 | €65,759 | +€7,710 | +13.3% |
| Gross operating margin | 9900 | €186,911 | €164,903 | -€22,008 | -11.8% |
| Operating profit (loss) | 9901 | €65,572 | -€22,364 | -€87,937 | |
| Financial charges | 65/66B | €60,751 | €81,302 | +€20,552 | +33.8% |
| Recurring financial charges | 65 | €60,751 | €81,302 | +€20,552 | +33.8% |
| Profit (loss) for the period before taxes | 9903 | €4,822 | -€103,667 | -€108,488 | |
| Profit (loss) for the period | 9904 | €4,822 | -€103,667 | -€108,488 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,822 | -€103,667 | -€108,488 |
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 3 October 2026 via checked.be.