NOBELLE: 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.
NOBELLE
Largest movements
- Stocks and contracts +€7,095
up €7,095 (+44.4%), from €15,994 to €23,089
- Cash -€6,568
down €6,568 (-15.8%), from €41,701 to €35,133
mainly Investment in fixed assets (net) (-€10,560) and Stocks and contracts (-€7,095)
- Financial fixed assets +€5,000
up €5,000 (+83.3%), from €6,000 to €11,000
- Tangible fixed assets +€4,699
up €4,699 (+273%), from €1,721 to €6,420
- Receivables within one year -€1,577
no longer reported in 2025 (was €1,577)
- Tax, wage and social debts +€9,853
up €9,853 (+50.2%), from €19,629 to €29,482
- Trade debts -€4,983
down €4,983 (-57.8%), from €8,627 to €3,644
- Reserves +€2,726
up €2,726 (+7.5%), from €36,126 to €38,852
- Other debts +€1,111
up €1,111 (+152%), from €733 to €1,844
- Gross operating margin -€14,743
down €14,743 (-48.6%), from €30,365 to €15,622
- Financial charges +€5,633
up €5,633 (+268%), from €2,101 to €7,734
- Taxes -€4,244
down €4,244 (-61.4%), from €6,913 to €2,669
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 | €67,115 | €75,822 | +€8,707 | +13.0% |
| Fixed assets | 21/28 | €7,721 | €17,420 | +€9,699 | +126% |
| Tangible fixed assets | 22/27 | €1,721 | €6,420 | +€4,699 | +273% |
| Furniture and vehicles | 24 | €1,721 | €6,420 | +€4,699 | +273% |
| Financial fixed assets | 28 | €6,000 | €11,000 | +€5,000 | +83.3% |
| Current assets | 29/58 | €59,394 | €58,402 | -€992 | -1.7% |
| Stocks and contracts in progress | 3 | €15,994 | €23,089 | +€7,095 | +44.4% |
| Stocks | 30/36 | €15,994 | €23,089 | +€7,095 | +44.4% |
| Amounts receivable within one year | 40/41 | €1,577 | - | -€1,577 | |
| Trade receivables | 40 | €1,577 | - | -€1,577 | |
| Cash at bank and in hand | 54/58 | €41,701 | €35,133 | -€6,568 | -15.8% |
| Deferred charges and accrued income | 490/1 | €122 | €180 | +€58 | +47.5% |
| Total equity and liabilities | 10/49 | €67,115 | €75,822 | +€8,707 | +13.0% |
| Equity | 10/15 | €38,126 | €40,852 | +€2,726 | +7.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €36,126 | €38,852 | +€2,726 | +7.5% |
| Distributable reserves | 133 | €36,126 | €38,852 | +€2,726 | +7.5% |
| Amounts payable | 17/49 | €28,989 | €34,970 | +€5,981 | +20.6% |
| Amounts payable within one year | 42/48 | €28,989 | €34,970 | +€5,981 | +20.6% |
| Trade debts | 44 | €8,627 | €3,644 | -€4,983 | -57.8% |
| Suppliers | 440/4 | €8,627 | €3,644 | -€4,983 | -57.8% |
| Taxes, remuneration and social security | 45 | €19,629 | €29,482 | +€9,853 | +50.2% |
| Taxes | 450/3 | €19,629 | €29,482 | +€9,853 | +50.2% |
| Other amounts payable | 47/48 | €733 | €1,844 | +€1,111 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €559 | €861 | +€302 | +54.0% |
| Other operating charges | 640/8 | €481 | €551 | +€70 | +14.6% |
| Non-recurring operating charges | 66A | €903 | €248 | -€655 | -72.5% |
| Gross operating margin | 9900 | €30,365 | €15,622 | -€14,743 | -48.6% |
| Operating profit (loss) | 9901 | €28,422 | €13,962 | -€14,460 | -50.9% |
| Financial charges | 65/66B | €2,101 | €7,734 | +€5,633 | +268% |
| Recurring financial charges | 65 | €2,101 | €7,734 | +€5,633 | +268% |
| Profit (loss) for the period before taxes | 9903 | €26,321 | €6,228 | -€20,093 | -76.3% |
| Income taxes | 67/77 | €6,913 | €2,669 | -€4,244 | -61.4% |
| Profit (loss) for the period | 9904 | €19,408 | €3,559 | -€15,849 | -81.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,408 | €3,559 | -€15,849 | -81.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.