NOE.FARSHAD: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
NOE.FARSHAD
Largest movements
- Tangible fixed assets +€14,320
new in 2025: €14,320
- Receivables within one year +€6,562
up €6,562 (+14.2%), from €46,181 to €52,743
of which Other amounts receivable: +€6,802
- Cash -€3,487
down €3,487 (-68.8%), from €5,069 to €1,582
mainly Investment in fixed assets (net) (-€16,107) and Short-term financial debts (-€8,972)
- Debts after one year +€19,301
new in 2025: €19,301
- Short-term financial debts -€8,972
no longer reported in 2025 (was €8,972)
- Profit (loss) carried forward +€6,520
up €6,520 (+24.4%), from €26,667 to €33,187
- Other debts +€900
up €900 (+7.4%), from €12,105 to €13,005
- Gross operating margin +€3,798
up €3,798 (+48.8%), from €7,786 to €11,584
- Other operating charges +€2,170
up €2,170 (+3,439%), from €63 to €2,233
- Depreciation +€1,787
new in 2025: €1,787
- Financial charges -€297
down €297 (-22.2%), from €1,340 to €1,043
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €51,493 | €68,889 | +€17,395 | +33.8% |
| Fixed assets | 21/28 | €243 | €14,563 | +€14,320 | +5,896% |
| Tangible fixed assets | 22/27 | - | €14,320 | +€14,320 | |
| Furniture and vehicles | 24 | - | €14,320 | +€14,320 | |
| Financial fixed assets | 28 | €243 | €243 | = | 0.0% |
| Current assets | 29/58 | €51,250 | €54,325 | +€3,075 | +6.0% |
| Amounts receivable within one year | 40/41 | €46,181 | €52,743 | +€6,562 | +14.2% |
| Trade receivables | 40 | €1,308 | €1,068 | -€240 | -18.3% |
| Other amounts receivable | 41 | €44,873 | €51,675 | +€6,802 | +15.2% |
| Cash at bank and in hand | 54/58 | €5,069 | €1,582 | -€3,487 | -68.8% |
| Total equity and liabilities | 10/49 | €51,493 | €68,889 | +€17,395 | +33.8% |
| Equity | 10/15 | €28,917 | €35,437 | +€6,520 | +22.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €1,250 | €1,250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €250 | €250 | = | 0.0% |
| Distributable reserves | 133 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,667 | €33,187 | +€6,520 | +24.4% |
| Amounts payable | 17/49 | €22,576 | €33,451 | +€10,875 | +48.2% |
| Amounts payable after more than one year | 17 | - | €19,301 | +€19,301 | |
| Financial debts | 170/4 | - | €19,301 | +€19,301 | |
| Amounts payable within one year | 42/48 | €22,576 | €14,150 | -€8,426 | -37.3% |
| Financial debts | 43 | €8,972 | - | -€8,972 | |
| Credit institutions | 430/8 | €8,972 | - | -€8,972 | |
| Trade debts | 44 | €1,469 | €984 | -€485 | -33.0% |
| Suppliers | 440/4 | €1,469 | €984 | -€485 | -33.0% |
| Taxes, remuneration and social security | 45 | €30 | €161 | +€131 | +434% |
| Taxes | 450/3 | €30 | €161 | +€131 | +434% |
| Other amounts payable | 47/48 | €12,105 | €13,005 | +€900 | +7.4% |
| Non-recurring operating income | 76A | €2,436 | €3,226 | +€791 | +32.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,787 | +€1,787 | |
| Other operating charges | 640/8 | €63 | €2,233 | +€2,170 | +3,439% |
| Gross operating margin | 9900 | €7,786 | €11,584 | +€3,798 | +48.8% |
| Operating profit (loss) | 9901 | €7,723 | €7,563 | -€159 | -2.1% |
| Financial charges | 65/66B | €1,340 | €1,043 | -€297 | -22.2% |
| Recurring financial charges | 65 | €1,340 | €1,043 | -€297 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €6,382 | €6,520 | +€138 | +2.2% |
| Income taxes | 67/77 | €41 | - | -€41 | |
| Profit (loss) for the period | 9904 | €6,341 | €6,520 | +€179 | +2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,341 | €6,520 | +€179 | +2.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.