NOBLE PARTNERS DISTRIBUTION: 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.
What changed
NOBLE PARTNERS DISTRIBUTION
NACE 47.120, Other non-specialised retail sale
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.2m
2024 · €3.5m-€1.3m
Equity
€22.4m
2024 · €20.2m+€2.2m
Cash
€7.0m
2024 · €4.6m+€2.4m
Balance sheet total
€24.3m
2024 · €23.0m+€1.3m
Largest movements
Assets
- Cash +€2.4m
up €2.4m (+53.1%), from €4.6m to €7.0m
mainly Net result for the year (+€2.2m) and Accrued charges and deferred income (+€815,910)
- Stocks and contracts -€471,777
down €471,777 (-10.0%), from €4.7m to €4.2m
- Current investments -€454,610
down €454,610 (-5.5%), from €8.3m to €7.8m
Equity and liabilities
- Profit (loss) carried forward +€2.2m
up €2.2m (+14.5%), from €15.2m to €17.4m
- Trade debts -€1.7m
down €1.7m (-91.5%), from €1.9m to €160,331
- Accrued charges and deferred income +€815,910
up €815,910 (+343%), from €238,190 to €1.1m
Income statement
- Turnover -€1.6m
down €1.6m (-8.8%), from €18.0m to €16.5m
- Services and other goods -€905,145
down €905,145 (-13.1%), from €6.9m to €6.0m
- Goods and materials +€661,287
up €661,287 (+9.5%), from €7.0m to €7.6m
of which Purchases: +€341,048
- Financial income -€513,142
down €513,142 (-37.6%), from €1.4m to €852,530
- Taxes -€310,421
down €310,421 (-36.2%), from €856,873 to €546,452
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.
Result 2024
€3.5m
Turnover
-€1.6m
Other operating income
-€5,042
Goods and materials
-€661,287
Services and other goods
+€905,145
Staff costs
+€13,680
Depreciation
+€915
Write-downs
+€188,791
Other operating charges
-€19,501
Financial income
-€513,142
Financial charges
+€24,599
Taxes
+€310,421
Result 2025
€2.2m
raises the resultlowers the result
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.
From operations
+€2.0m
Investment
+€489,470
Financing
-€68,658
Cash 2024
€4.6m
From operations (derived)
+€2.0m
Net result for the year
+€2.2m
Depreciation
+€140,776
Stocks and contracts
+€471,777
Smaller working-capital items
+€706
Deferred charges and accrued income
+€68,820
Trade debts
-€1.7m
Tax, wage and social debts
+€21,599
Other debts
+€6,983
Accrued charges and deferred income
+€815,910
Investment (derived)
+€489,470
Investment in fixed assets (net)
+€34,860
Current investments
+€454,610
Financing
-€68,658
Debts after one year
-€70,782
Current portion of long-term debt
+€2,124
Cash 2025
€7.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,995,739 | €24,253,037 | +€1.3m | +5.5% |
| Fixed assets | 21/28 | €1,720,173 | €1,544,536 | -€175,636 | -10.2% |
| Intangible fixed assets | 21 | €100,017 | €57,770 | -€42,246 | -42.2% |
| Tangible fixed assets | 22/27 | €1,529,976 | €1,396,233 | -€133,744 | -8.7% |
| Land and buildings | 22 | €1,319,232 | €1,275,430 | -€43,802 | -3.3% |
| Plant, machinery and equipment | 23 | €3,257 | €1,697 | -€1,560 | -47.9% |
| Furniture and vehicles | 24 | €166,646 | €86,348 | -€80,298 | -48.2% |
| Other tangible fixed assets | 26 | €40,842 | €32,758 | -€8,084 | -19.8% |
| Financial fixed assets | 28 | €90,180 | €90,534 | +€354 | +0.4% |
| Affiliated companies | 280/1 | €45,000 | €45,000 | = | 0.0% |
| Participating interests | 280 | €45,000 | €45,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €45,180 | €45,534 | +€354 | +0.8% |
| Amounts receivable and cash guarantees | 285/8 | €45,180 | €45,534 | +€354 | +0.8% |
| Current assets | 29/58 | €21,275,566 | €22,708,500 | +€1.4m | +6.7% |
| Stocks and contracts in progress | 3 | €4,711,573 | €4,239,795 | -€471,777 | -10.0% |
| Stocks | 30/36 | €4,711,573 | €4,239,795 | -€471,777 | -10.0% |
| Goods purchased for resale | 34 | €4,711,573 | €4,239,795 | -€471,777 | -10.0% |
| Amounts receivable within one year | 40/41 | €3,475,950 | €3,476,533 | +€583 | 0.0% |
| Trade receivables | 40 | €2,270,163 | €2,880,718 | +€610,555 | +26.9% |
| Other amounts receivable | 41 | €1,205,786 | €595,815 | -€609,972 | -50.6% |
| Current investments | 50/53 | €8,299,790 | €7,845,180 | -€454,610 | -5.5% |
| Other investments | 51/53 | €8,299,790 | €7,845,180 | -€454,610 | -5.5% |
| Cash at bank and in hand | 54/58 | €4,569,100 | €6,996,658 | +€2.4m | +53.1% |
| Deferred charges and accrued income | 490/1 | €219,153 | €150,334 | -€68,820 | -31.4% |
| Total equity and liabilities | 10/49 | €22,995,739 | €24,253,037 | +€1.3m | +5.5% |
| Equity | 10/15 | €20,231,384 | €22,433,225 | +€2.2m | +10.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €5,000,000 | €5,000,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €4,998,000 | €4,998,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,211,384 | €17,413,225 | +€2.2m | +14.5% |
| Amounts payable | 17/49 | €2,764,355 | €1,819,811 | -€944,544 | -34.2% |
| Amounts payable after more than one year | 17 | €438,086 | €367,304 | -€70,782 | -16.2% |
| Financial debts | 170/4 | €438,086 | €367,304 | -€70,782 | -16.2% |
| Credit institutions | 173 | €438,086 | €367,304 | -€70,782 | -16.2% |
| Amounts payable within one year | 42/48 | €2,088,079 | €398,408 | -€1.7m | -80.9% |
| Current portion of amounts payable after more than one year | 42 | €68,658 | €70,782 | +€2,124 | +3.1% |
| Trade debts | 44 | €1,881,998 | €160,331 | -€1.7m | -91.5% |
| Suppliers | 440/4 | €1,881,998 | €160,331 | -€1.7m | -91.5% |
| Advances received on contracts in progress | 46 | €1,053 | €2,342 | +€1,289 | +122% |
| Taxes, remuneration and social security | 45 | €93,001 | €114,600 | +€21,599 | +23.2% |
| Taxes | 450/3 | €20,662 | €58,457 | +€37,794 | +183% |
| Remuneration and social security | 454/9 | €72,339 | €56,143 | -€16,195 | -22.4% |
| Other amounts payable | 47/48 | €43,369 | €50,352 | +€6,983 | +16.1% |
| Accrued charges and deferred income | 492/3 | €238,190 | €1,054,100 | +€815,910 | +343% |
| Operating income | 70/76A | €18,058,827 | €16,468,556 | -€1.6m | -8.8% |
| Turnover | 70 | €18,037,885 | €16,452,657 | -€1.6m | -8.8% |
| Other operating income | 74 | €20,942 | €15,899 | -€5,042 | -24.1% |
| Operating charges | 60/66A | €14,949,232 | €14,521,489 | -€427,743 | -2.9% |
| Goods for resale, raw materials and consumables | 60 | €6,985,914 | €7,647,200 | +€661,287 | +9.5% |
| Purchases | 600/8 | €6,834,375 | €7,175,423 | +€341,048 | +5.0% |
| Change in stocks: decrease (increase) | 609 | €151,538 | €471,777 | +€320,239 | +211% |
| Services and other goods | 61 | €6,927,420 | €6,022,275 | -€905,145 | -13.1% |
| Remuneration, social security and pensions | 62 | €690,287 | €676,607 | -€13,680 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,691 | €140,776 | -€915 | -0.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €188,791 | €0 | -€188,791 | -100% |
| Other operating charges | 640/8 | €15,129 | €34,630 | +€19,501 | +129% |
| Operating profit (loss) | 9901 | €3,109,595 | €1,947,067 | -€1.2m | -37.4% |
| Financial income | 75/76B | €1,365,672 | €852,530 | -€513,142 | -37.6% |
| Recurring financial income | 75 | €1,365,672 | €852,530 | -€513,142 | -37.6% |
| Income from financial fixed assets | 750 | €1,000,000 | €600,000 | -€400,000 | -40.0% |
| Income from current assets | 751 | €363,580 | €244,638 | -€118,942 | -32.7% |
| Other financial income | 752/9 | €2,092 | €7,892 | +€5,800 | +277% |
| Financial charges | 65/66B | €75,902 | €51,303 | -€24,599 | -32.4% |
| Recurring financial charges | 65 | €75,902 | €51,303 | -€24,599 | -32.4% |
| Debt charges | 650 | €49,072 | €33,714 | -€15,357 | -31.3% |
| Other financial charges | 652/9 | €26,831 | €17,589 | -€9,242 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €4,399,365 | €2,748,294 | -€1.7m | -37.5% |
| Income taxes | 67/77 | €856,873 | €546,452 | -€310,421 | -36.2% |
| Taxes | 670/3 | €856,873 | €546,452 | -€310,421 | -36.2% |
| Profit (loss) for the period | 9904 | €3,542,491 | €2,201,842 | -€1.3m | -37.8% |
| Transfer from tax-exempt reserves | 789 | €18,037 | €0 | -€18,037 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €3,560,528 | €2,201,842 | -€1.4m | -38.2% |
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 28 October 2026 via checked.be.