NOC: 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.
NOC
Largest movements
- Cash -€10,428
down €10,428 (-13.6%), from €76,826 to €66,398
mainly Net result for the year (-€47,775) and Deferred charges and accrued income (-€10,227)
- Deferred charges and accrued income +€10,227
up €10,227 (+9.2%), from €111,250 to €121,478
- Receivables within one year +€6,724
up €6,724 (+295%), from €2,276 to €9,000
of which Other amounts receivable: +€7,500
- Tangible fixed assets -€6,190
down €6,190 (-7.7%), from €79,912 to €73,722
of which Land and buildings: -€5,524
- Other debts +€48,360
up €48,360 (+49.8%), from €97,019 to €145,379
- Profit (loss) carried forward -€47,775
down €47,775 (-31.9%), from €149,914 to €102,139
- Tax, wage and social debts -€3,741
down €3,741 (-57.6%), from €6,500 to €2,759
of which Remuneration and social security: -€3,680
- Financial charges -€20,609
down €20,609 (-20.4%), from €100,839 to €80,229
- Gross operating margin +€3,623
up €3,623 (+9.6%), from €37,802 to €41,425
- Depreciation -€844
down €844 (-12.0%), from €7,035 to €6,190
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 | €271,331 | €271,668 | +€337 | +0.1% |
| Fixed assets | 21/28 | €79,912 | €73,722 | -€6,190 | -7.7% |
| Tangible fixed assets | 22/27 | €79,912 | €73,722 | -€6,190 | -7.7% |
| Land and buildings | 22 | €78,458 | €72,934 | -€5,524 | -7.0% |
| Furniture and vehicles | 24 | €1,454 | €788 | -€666 | -45.8% |
| Current assets | 29/58 | €191,419 | €197,947 | +€6,527 | +3.4% |
| Amounts receivable within one year | 40/41 | €2,276 | €9,000 | +€6,724 | +295% |
| Trade receivables | 40 | €776 | - | -€776 | |
| Other amounts receivable | 41 | €1,500 | €9,000 | +€7,500 | +500% |
| Current investments | 50/53 | €1,066 | €1,071 | +€5 | +0.4% |
| Cash at bank and in hand | 54/58 | €76,826 | €66,398 | -€10,428 | -13.6% |
| Deferred charges and accrued income | 490/1 | €111,250 | €121,478 | +€10,227 | +9.2% |
| Total equity and liabilities | 10/49 | €271,331 | €271,668 | +€337 | +0.1% |
| Equity | 10/15 | €161,087 | €113,311 | -€47,775 | -29.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,973 | €4,973 | = | 0.0% |
| Distributable reserves | 133 | €4,973 | €4,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,914 | €102,139 | -€47,775 | -31.9% |
| Amounts payable | 17/49 | €110,245 | €158,357 | +€48,112 | +43.6% |
| Amounts payable within one year | 42/48 | €110,245 | €158,357 | +€48,112 | +43.6% |
| Financial debts | 43 | €5,350 | €6,746 | +€1,395 | +26.1% |
| Credit institutions | 430/8 | €5,350 | €6,746 | +€1,395 | +26.1% |
| Trade debts | 44 | €1,376 | €3,473 | +€2,097 | +152% |
| Suppliers | 440/4 | €1,376 | €3,473 | +€2,097 | +152% |
| Taxes, remuneration and social security | 45 | €6,500 | €2,759 | -€3,741 | -57.6% |
| Taxes | 450/3 | €2,820 | €2,759 | -€61 | -2.2% |
| Remuneration and social security | 454/9 | €3,680 | - | -€3,680 | |
| Other amounts payable | 47/48 | €97,019 | €145,379 | +€48,360 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,035 | €6,190 | -€844 | -12.0% |
| Other operating charges | 640/8 | €2,069 | €2,317 | +€248 | +12.0% |
| Gross operating margin | 9900 | €37,802 | €41,425 | +€3,623 | +9.6% |
| Operating profit (loss) | 9901 | €28,698 | €32,917 | +€4,220 | +14.7% |
| Financial income | 75/76B | €6 | €13 | +€6 | +99.7% |
| Recurring financial income | 75 | €6 | €13 | +€6 | +99.7% |
| Financial charges | 65/66B | €100,839 | €80,229 | -€20,609 | -20.4% |
| Recurring financial charges | 65 | €100,839 | €80,229 | -€20,609 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | -€72,135 | -€47,300 | +€24,835 | +34.4% |
| Income taxes | 67/77 | €130 | €475 | +€345 | +265% |
| Profit (loss) for the period | 9904 | -€72,265 | -€47,775 | +€24,490 | +33.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,265 | -€47,775 | +€24,490 | +33.9% |
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 16 October 2026 via checked.be.