NoCo: 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.
NoCo
Largest movements
- Receivables within one year +€153,085
up €153,085 (+422.0%), from €36,272 to €189,358
of which Other amounts receivable: +€134,071
- Cash +€17,316
up €17,316 (+120.7%), from €14,352 to €31,669
mainly Provisions (+€110,500) and Advances received (+€52,753)
- Stocks and contracts +€8,927
up €8,927 (+58.6%), from €15,239 to €24,167
- Deferred charges and accrued income +€4,707
up €4,707 (+941.4%), from €500 to €5,207
- Provisions +€110,500
new in 2025: €110,500
- Advances received +€52,753
up €52,753 (+536.9%), from €9,826 to €62,580
- Trade debts +€10,278
up €10,278 (+875.7%), from €1,174 to €11,451
- Profit (loss) carried forward +€6,336
up €6,336 (+38.6%), from €16,395 to €22,731
- Tax, wage and social debts +€3,794
up €3,794 (+26.8%), from €14,173 to €17,967
of which Remuneration and social security: +€3,253
- Financial income +€204,170
up €204,170 (+452806.5%), from €45 to €204,216
of which Non-recurring financial income: +€201,567
- Staff costs +€73,663
up €73,663 (+102.3%), from €71,981 to €145,645
- Gross operating margin -€18,406
down €18,406 (-23.2%), from €79,273 to €60,868
- Financial charges -€1,482
down €1,482 (-79.8%), from €1,857 to €375
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 | €68,329 | €251,171 | +€182,842 | +267.6% |
| Fixed assets | 21/28 | €1,965 | €771 | -€1,194 | -60.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €1,665 | €471 | -€1,194 | -71.7% |
| Plant, machinery and equipment | 23 | €648 | €148 | -€500 | -77.2% |
| Furniture and vehicles | 24 | €1,017 | €323 | -€694 | -68.2% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €66,364 | €250,400 | +€184,036 | +277.3% |
| Stocks and contracts in progress | 3 | €15,239 | €24,167 | +€8,927 | +58.6% |
| Stocks | 30/36 | €15,239 | €24,167 | +€8,927 | +58.6% |
| Amounts receivable within one year | 40/41 | €36,272 | €189,358 | +€153,085 | +422.0% |
| Trade receivables | 40 | €36,272 | €55,286 | +€19,014 | +52.4% |
| Other amounts receivable | 41 | - | €134,071 | +€134,071 | |
| Cash at bank and in hand | 54/58 | €14,352 | €31,669 | +€17,316 | +120.7% |
| Deferred charges and accrued income | 490/1 | €500 | €5,207 | +€4,707 | +941.4% |
| Total equity and liabilities | 10/49 | €68,329 | €251,171 | +€182,842 | +267.6% |
| Equity | 10/15 | €36,855 | €43,191 | +€6,336 | +17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,395 | €22,731 | +€6,336 | +38.6% |
| Provisions and deferred taxes | 16 | - | €110,500 | +€110,500 | |
| Provisions for liabilities and charges | 160/5 | - | €110,500 | +€110,500 | |
| Environmental obligations | 163 | - | €110,500 | +€110,500 | |
| Amounts payable | 17/49 | €31,474 | €97,480 | +€66,006 | +209.7% |
| Amounts payable within one year | 42/48 | €31,474 | €97,480 | +€66,006 | +209.7% |
| Trade debts | 44 | €1,174 | €11,451 | +€10,278 | +875.7% |
| Suppliers | 440/4 | €1,174 | €11,451 | +€10,278 | +875.7% |
| Advances received on contracts in progress | 46 | €9,826 | €62,580 | +€52,753 | +536.9% |
| Taxes, remuneration and social security | 45 | €14,173 | €17,967 | +€3,794 | +26.8% |
| Taxes | 450/3 | €5,249 | €5,790 | +€541 | +10.3% |
| Remuneration and social security | 454/9 | €8,924 | €12,177 | +€3,253 | +36.5% |
| Other amounts payable | 47/48 | €6,302 | €5,482 | -€820 | -13.0% |
| Remuneration, social security and pensions | 62 | €71,981 | €145,645 | +€73,663 | +102.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,395 | €1,194 | -€200 | -14.4% |
| Other operating charges | 640/8 | €130 | €226 | +€95 | +73.1% |
| Non-recurring operating charges | 66A | - | €110,500 | +€110,500 | |
| Gross operating margin | 9900 | €79,273 | €60,868 | -€18,406 | -23.2% |
| Operating profit (loss) | 9901 | €5,767 | -€196,697 | -€202,464 | |
| Financial income | 75/76B | €45 | €204,216 | +€204,170 | +452806.5% |
| Recurring financial income | 75 | €45 | €2,649 | +€2,604 | +5774.6% |
| Non-recurring financial income | 76B | - | €201,567 | +€201,567 | |
| Financial charges | 65/66B | €1,857 | €375 | -€1,482 | -79.8% |
| Recurring financial charges | 65 | €1,857 | €375 | -€1,482 | -79.8% |
| Profit (loss) for the period before taxes | 9903 | €3,955 | €7,144 | +€3,189 | +80.6% |
| Income taxes | 67/77 | €1,586 | €808 | -€778 | -49.0% |
| Profit (loss) for the period | 9904 | €2,369 | €6,336 | +€3,967 | +167.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,369 | €6,336 | +€3,967 | +167.4% |
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 10 October 2026 via checked.be.