NOE & PARTNERS: 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.
NOE & PARTNERS
Largest movements
- Receivables within one year -€24,977
down €24,977 (-86.1%), from €28,995 to €4,018
of which Trade receivables: -€27,663
- Tangible fixed assets -€19,032
down €19,032 (-39.6%), from €48,113 to €29,081
- Cash +€2,521
up €2,521 (+76.2%), from €3,309 to €5,830
mainly Receivables within one year (+€24,977) and Depreciation (+€21,143)
- Deferred charges and accrued income -€1,383
down €1,383 (-79.5%), from €1,740 to €356
- Profit (loss) carried forward -€29,620
down €29,620, from €13,626 to -€15,994
- Tax, wage and social debts -€9,548
down €9,548 (-41.0%), from €23,314 to €13,766
of which Remuneration and social security: -€6,374
- Trade debts -€3,168
down €3,168 (-45.8%), from €6,924 to €3,756
- Gross operating margin -€33,185
down €33,185, from €28,057 to -€5,128
- Taxes -€3,617
no longer reported in 2025 (was €3,617)
- Other operating charges -€387
no longer reported in 2025 (was €387)
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 | €82,156 | €39,285 | -€42,871 | -52.2% |
| Fixed assets | 21/28 | €48,113 | €29,081 | -€19,032 | -39.6% |
| Tangible fixed assets | 22/27 | €48,113 | €29,081 | -€19,032 | -39.6% |
| Land and buildings | 22 | €7,531 | €2,240 | -€5,290 | -70.3% |
| Plant, machinery and equipment | 23 | €1,272 | €1,845 | +€573 | +45.0% |
| Furniture and vehicles | 24 | €14,796 | €6,089 | -€8,707 | -58.8% |
| Other tangible fixed assets | 26 | €24,514 | €18,907 | -€5,607 | -22.9% |
| Current assets | 29/58 | €34,043 | €10,204 | -€23,839 | -70.0% |
| Amounts receivable within one year | 40/41 | €28,995 | €4,018 | -€24,977 | -86.1% |
| Trade receivables | 40 | €28,995 | €1,332 | -€27,663 | -95.4% |
| Other amounts receivable | 41 | - | €2,686 | +€2,686 | |
| Cash at bank and in hand | 54/58 | €3,309 | €5,830 | +€2,521 | +76.2% |
| Deferred charges and accrued income | 490/1 | €1,740 | €356 | -€1,383 | -79.5% |
| Total equity and liabilities | 10/49 | €82,156 | €39,285 | -€42,871 | -52.2% |
| Equity | 10/15 | €49,086 | €19,466 | -€29,620 | -60.3% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,626 | -€15,994 | -€29,620 | |
| Amounts payable | 17/49 | €33,070 | €19,818 | -€13,251 | -40.1% |
| Amounts payable within one year | 42/48 | €33,070 | €19,818 | -€13,251 | -40.1% |
| Trade debts | 44 | €6,924 | €3,756 | -€3,168 | -45.8% |
| Suppliers | 440/4 | €6,924 | €3,756 | -€3,168 | -45.8% |
| Taxes, remuneration and social security | 45 | €23,314 | €13,766 | -€9,548 | -41.0% |
| Taxes | 450/3 | €4,778 | €1,604 | -€3,174 | -66.4% |
| Remuneration and social security | 454/9 | €18,536 | €12,162 | -€6,374 | -34.4% |
| Other amounts payable | 47/48 | €2,831 | €2,296 | -€535 | -18.9% |
| Remuneration, social security and pensions | 62 | €1,741 | €1,596 | -€145 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,108 | €21,143 | +€34 | +0.2% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Non-recurring operating charges | 66A | €373 | €1,637 | +€1,264 | +338.5% |
| Gross operating margin | 9900 | €28,057 | -€5,128 | -€33,185 | |
| Operating profit (loss) | 9901 | €4,447 | -€29,504 | -€33,951 | |
| Financial income | 75/76B | €4 | - | -€4 | |
| Recurring financial income | 75 | €4 | - | -€4 | |
| Financial charges | 65/66B | €210 | €116 | -€94 | -44.9% |
| Recurring financial charges | 65 | €210 | €116 | -€94 | -44.9% |
| Profit (loss) for the period before taxes | 9903 | €4,241 | -€29,620 | -€33,861 | |
| Income taxes | 67/77 | €3,617 | - | -€3,617 | |
| Profit (loss) for the period | 9904 | €624 | -€29,620 | -€30,244 | |
| Profit (loss) for the period to be appropriated | 9905 | €624 | -€29,620 | -€30,244 |
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 5 October 2026 via checked.be.