Nobell: 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.
Nobell
Largest movements
- Tangible fixed assets +€67,988
up €67,988 (+241.9%), from €28,103 to €96,091
of which Land and buildings: +€75,644
- Cash +€22,821
up €22,821 (+37.6%), from €60,694 to €83,515
mainly Other debts (+€59,830) and Net result for the year (+€45,728)
- Receivables within one year +€10,767
up €10,767 (+33.6%), from €32,072 to €42,840
of which Trade receivables: +€10,692
- Current investments +€4,299
up €4,299 (+53.0%), from €8,118 to €12,417
- Other debts +€59,830
up €59,830 (+1401.8%), from €4,268 to €64,098
- Reserves +€45,000
up €45,000 (+47.4%), from €95,000 to €140,000
- Depreciation +€12,180
up €12,180 (+221.7%), from €5,493 to €17,673
- Gross operating margin +€6,278
up €6,278 (+8.1%), from €77,930 to €84,209
- Other operating charges -€4,352
down €4,352 (-87.2%), from €4,993 to €641
- Financial charges +€4,178
up €4,178 (+2582.2%), from €162 to €4,340
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 | €128,988 | €234,862 | +€105,874 | +82.1% |
| Fixed assets | 21/28 | €28,103 | €96,091 | +€67,988 | +241.9% |
| Tangible fixed assets | 22/27 | €28,103 | €96,091 | +€67,988 | +241.9% |
| Land and buildings | 22 | - | €75,644 | +€75,644 | |
| Furniture and vehicles | 24 | €28,103 | €20,447 | -€7,656 | -27.2% |
| Current assets | 29/58 | €100,885 | €138,771 | +€37,887 | +37.6% |
| Amounts receivable within one year | 40/41 | €32,072 | €42,840 | +€10,767 | +33.6% |
| Trade receivables | 40 | €19,764 | €30,456 | +€10,692 | +54.1% |
| Other amounts receivable | 41 | €12,308 | €12,383 | +€75 | +0.6% |
| Current investments | 50/53 | €8,118 | €12,417 | +€4,299 | +53.0% |
| Cash at bank and in hand | 54/58 | €60,694 | €83,515 | +€22,821 | +37.6% |
| Total equity and liabilities | 10/49 | €128,988 | €234,862 | +€105,874 | +82.1% |
| Equity | 10/15 | €99,904 | €145,633 | +€45,728 | +45.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €95,000 | €140,000 | +€45,000 | +47.4% |
| Distributable reserves | 133 | €95,000 | €140,000 | +€45,000 | +47.4% |
| Profit (loss) carried forward | 14 | €2,904 | €3,633 | +€728 | +25.1% |
| Amounts payable | 17/49 | €29,084 | €89,230 | +€60,146 | +206.8% |
| Amounts payable within one year | 42/48 | €29,084 | €89,230 | +€60,146 | +206.8% |
| Financial debts | 43 | - | €195 | +€195 | |
| Credit institutions | 430/8 | - | €195 | +€195 | |
| Trade debts | 44 | €764 | €2,100 | +€1,335 | +174.7% |
| Suppliers | 440/4 | €764 | €2,100 | +€1,335 | +174.7% |
| Taxes, remuneration and social security | 45 | €24,051 | €22,837 | -€1,214 | -5.0% |
| Taxes | 450/3 | €24,051 | €22,837 | -€1,214 | -5.0% |
| Other amounts payable | 47/48 | €4,268 | €64,098 | +€59,830 | +1401.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,493 | €17,673 | +€12,180 | +221.7% |
| Other operating charges | 640/8 | €4,993 | €641 | -€4,352 | -87.2% |
| Gross operating margin | 9900 | €77,930 | €84,209 | +€6,278 | +8.1% |
| Operating profit (loss) | 9901 | €67,444 | €65,894 | -€1,550 | -2.3% |
| Financial income | 75/76B | €862 | €1,069 | +€206 | +23.9% |
| Recurring financial income | 75 | €862 | €1,069 | +€206 | +23.9% |
| Financial charges | 65/66B | €162 | €4,340 | +€4,178 | +2582.2% |
| Recurring financial charges | 65 | €162 | €4,340 | +€4,178 | +2582.2% |
| Profit (loss) for the period before taxes | 9903 | €68,145 | €62,623 | -€5,522 | -8.1% |
| Income taxes | 67/77 | €16,134 | €16,895 | +€761 | +4.7% |
| Profit (loss) for the period | 9904 | €52,011 | €45,728 | -€6,283 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,011 | €45,728 | -€6,283 | -12.1% |
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 5 October 2026 via checked.be.