NOCLADEX: 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.
NOCLADEX
Largest movements
- Tangible fixed assets +€50,476
up €50,476 (+210%), from €24,032 to €74,508
of which Furniture and vehicles: +€37,308
- Cash -€25,242
down €25,242 (-68.6%), from €36,819 to €11,577
mainly Investment in fixed assets (net) (-€63,088) and Receivables within one year (-€14,846)
- Receivables within one year +€14,846
up €14,846 (+171%), from €8,657 to €23,502
of which Trade receivables: +€12,579
- Intangible fixed assets -€8,989
down €8,989 (-30.0%), from €30,000 to €21,011
- Deferred charges and accrued income +€1,626
up €1,626 (+934%), from €174 to €1,800
- Debts after one year +€27,902
up €27,902 (+387%), from €7,201 to €35,103
- Trade debts +€14,632
up €14,632 (+246%), from €5,953 to €20,585
- Profit (loss) carried forward -€13,052
down €13,052 (-85.1%), from €15,332 to €2,280
- Tax, wage and social debts +€5,510
up €5,510 (+51.5%), from €10,706 to €16,216
of which Taxes: +€5,718
- Current portion of long-term debt -€2,275
down €2,275 (-15.0%), from €15,169 to €12,894
- Staff costs +€9,577
new in 2025: €9,577
- Other operating charges +€9,062
up €9,062 (+1,464%), from €619 to €9,681
- Gross operating margin +€8,848
up €8,848 (+42.2%), from €20,944 to €29,791
- Depreciation -€5,836
down €5,836 (-21.3%), from €27,437 to €21,601
- Financial charges +€377
up €377 (+30.1%), from €1,253 to €1,630
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 | €100,221 | €132,938 | +€32,717 | +32.6% |
| Fixed assets | 21/28 | €54,572 | €96,059 | +€41,487 | +76.0% |
| Intangible fixed assets | 21 | €30,000 | €21,011 | -€8,989 | -30.0% |
| Tangible fixed assets | 22/27 | €24,032 | €74,508 | +€50,476 | +210% |
| Furniture and vehicles | 24 | €24,032 | €61,340 | +€37,308 | +155% |
| Other tangible fixed assets | 26 | - | €13,168 | +€13,168 | |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €45,650 | €36,879 | -€8,771 | -19.2% |
| Amounts receivable within one year | 40/41 | €8,657 | €23,502 | +€14,846 | +171% |
| Trade receivables | 40 | €3,336 | €15,914 | +€12,579 | +377% |
| Other amounts receivable | 41 | €5,321 | €7,588 | +€2,267 | +42.6% |
| Cash at bank and in hand | 54/58 | €36,819 | €11,577 | -€25,242 | -68.6% |
| Deferred charges and accrued income | 490/1 | €174 | €1,800 | +€1,626 | +934% |
| Total equity and liabilities | 10/49 | €100,221 | €132,938 | +€32,717 | +32.6% |
| Equity | 10/15 | €61,192 | €48,140 | -€13,052 | -21.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,660 | €39,660 | = | 0.0% |
| Distributable reserves | 133 | €39,660 | €39,660 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,332 | €2,280 | -€13,052 | -85.1% |
| Amounts payable | 17/49 | €39,030 | €84,798 | +€45,769 | +117% |
| Amounts payable after more than one year | 17 | €7,201 | €35,103 | +€27,902 | +387% |
| Financial debts | 170/4 | €7,201 | €35,103 | +€27,902 | +387% |
| Amounts payable within one year | 42/48 | €31,828 | €49,695 | +€17,867 | +56.1% |
| Current portion of amounts payable after more than one year | 42 | €15,169 | €12,894 | -€2,275 | -15.0% |
| Trade debts | 44 | €5,953 | €20,585 | +€14,632 | +246% |
| Suppliers | 440/4 | €5,953 | €20,585 | +€14,632 | +246% |
| Taxes, remuneration and social security | 45 | €10,706 | €16,216 | +€5,510 | +51.5% |
| Taxes | 450/3 | €7,498 | €13,216 | +€5,718 | +76.3% |
| Remuneration and social security | 454/9 | €3,208 | €3,000 | -€208 | -6.5% |
| Remuneration, social security and pensions | 62 | - | €9,577 | +€9,577 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,437 | €21,601 | -€5,836 | -21.3% |
| Other operating charges | 640/8 | €619 | €9,681 | +€9,062 | +1,464% |
| Gross operating margin | 9900 | €20,944 | €29,791 | +€8,848 | +42.2% |
| Operating profit (loss) | 9901 | -€7,112 | -€11,068 | -€3,956 | -55.6% |
| Financial income | 75/76B | €419 | €130 | -€289 | -69.0% |
| Recurring financial income | 75 | €419 | €130 | -€289 | -69.0% |
| Financial charges | 65/66B | €1,253 | €1,630 | +€377 | +30.1% |
| Recurring financial charges | 65 | €1,253 | €1,630 | +€377 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,946 | -€12,568 | -€4,622 | -58.2% |
| Income taxes | 67/77 | €563 | €484 | -€79 | -14.0% |
| Profit (loss) for the period | 9904 | -€8,509 | -€13,052 | -€4,543 | -53.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,509 | -€13,052 | -€4,543 | -53.4% |
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 15 October 2026 via checked.be.