NOCA: 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.
NOCA
Largest movements
- Current investments +€80,106
up €80,106 (+19.5%), from €410,814 to €490,920
- Cash +€34,623
up €34,623 (+22.2%), from €156,173 to €190,796
mainly Net result for the year (+€113,510) and Tax, wage and social debts (+€15,400)
- Profit (loss) carried forward +€59,161
up €59,161, from -€59,161 to €0
- Reserves +€54,349
up €54,349 (+53.5%), from €101,613 to €155,962
of which Distributable reserves: +€54,349
- Other debts -€22,984
no longer reported in 2025 (was €22,984)
- Tax, wage and social debts +€15,400
new in 2025: €15,400
of which Taxes: +€14,437
- Financial income +€81,342
up €81,342 (+65.1%), from €124,883 to €206,225
- Financial charges -€42,680
down €42,680 (-72.7%), from €58,677 to €15,997
- Taxes +€33,774
up €33,774 (+234.3%), from €14,417 to €48,191
- Gross operating margin +€19,589
up €19,589 (+43.4%), from -€45,105 to -€25,516
- Depreciation -€3,883
down €3,883 (-58.4%), from €6,654 to €2,771
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 | €581,641 | €687,487 | +€105,846 | +18.2% |
| Fixed assets | 21/28 | €2,771 | - | -€2,771 | |
| Tangible fixed assets | 22/27 | €2,771 | - | -€2,771 | |
| Furniture and vehicles | 24 | €2,771 | - | -€2,771 | |
| Current assets | 29/58 | €578,870 | €687,487 | +€108,617 | +18.8% |
| Amounts receivable within one year | 40/41 | €10,905 | €5,771 | -€5,134 | -47.1% |
| Other amounts receivable | 41 | €10,905 | €5,771 | -€5,134 | -47.1% |
| Current investments | 50/53 | €410,814 | €490,920 | +€80,106 | +19.5% |
| Cash at bank and in hand | 54/58 | €156,173 | €190,796 | +€34,623 | +22.2% |
| Deferred charges and accrued income | 490/1 | €978 | - | -€978 | |
| Total equity and liabilities | 10/49 | €581,641 | €687,487 | +€105,846 | +18.2% |
| Equity | 10/15 | €558,577 | €672,087 | +€113,510 | +20.3% |
| Contributions | 10/11 | €516,125 | €516,125 | = | 0.0% |
| Capital | 10 | €516,125 | €516,125 | = | 0.0% |
| Issued capital | 100 | €516,125 | €516,125 | = | 0.0% |
| Reserves | 13 | €101,613 | €155,962 | +€54,349 | +53.5% |
| Non-distributable reserves | 130/1 | €101,613 | €101,613 | = | 0.0% |
| Legal reserve | 130 | €101,613 | €101,613 | = | 0.0% |
| Distributable reserves | 133 | - | €54,349 | +€54,349 | |
| Profit (loss) carried forward | 14 | -€59,161 | €0 | +€59,161 | |
| Amounts payable | 17/49 | €23,064 | €15,400 | -€7,664 | -33.2% |
| Amounts payable within one year | 42/48 | €23,064 | €15,400 | -€7,664 | -33.2% |
| Trade debts | 44 | €80 | - | -€80 | |
| Suppliers | 440/4 | €80 | - | -€80 | |
| Taxes, remuneration and social security | 45 | - | €15,400 | +€15,400 | |
| Taxes | 450/3 | - | €14,437 | +€14,437 | |
| Remuneration and social security | 454/9 | - | €963 | +€963 | |
| Other amounts payable | 47/48 | €22,984 | - | -€22,984 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,654 | €2,771 | -€3,883 | -58.4% |
| Other operating charges | 640/8 | €424 | €240 | -€184 | -43.4% |
| Gross operating margin | 9900 | -€45,105 | -€25,516 | +€19,589 | +43.4% |
| Operating profit (loss) | 9901 | -€52,183 | -€28,527 | +€23,656 | +45.3% |
| Financial income | 75/76B | €124,883 | €206,225 | +€81,342 | +65.1% |
| Recurring financial income | 75 | €124,883 | €206,225 | +€81,342 | +65.1% |
| Financial charges | 65/66B | €58,677 | €15,997 | -€42,680 | -72.7% |
| Recurring financial charges | 65 | €58,677 | €15,997 | -€42,680 | -72.7% |
| Profit (loss) for the period before taxes | 9903 | €14,023 | €161,701 | +€147,678 | +1053.1% |
| Income taxes | 67/77 | €14,417 | €48,191 | +€33,774 | +234.3% |
| Profit (loss) for the period | 9904 | -€394 | €113,510 | +€113,904 | |
| Profit (loss) for the period to be appropriated | 9905 | -€394 | €113,510 | +€113,904 |
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 7 October 2026 via checked.be.