NOEDELS & CO: 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.
NOEDELS & CO
Largest movements
- Receivables within one year +€17,201
up €17,201 (+23.2%), from €74,235 to €91,436
- Cash -€12,512
down €12,512 (-46.1%), from €27,125 to €14,613
mainly Receivables within one year (-€17,201) and Tax, wage and social debts (-€2,000)
- Tangible fixed assets -€2,448
down €2,448 (-55.3%), from €4,424 to €1,976
of which Furniture and vehicles: -€2,307
- Reserves +€5,760
up €5,760 (+7.2%), from €79,995 to €85,755
of which Distributable reserves: +€5,760
- Tax, wage and social debts -€2,000
down €2,000 (-33.3%), from €6,000 to €4,000
- Gross operating margin -€9,348
down €9,348 (-37.0%), from €25,284 to €15,935
- Financial income +€1,225
up €1,225 (+36.8%), from €3,326 to €4,551
- Taxes -€681
down €681 (-11.0%), from €6,170 to €5,489
- Other operating charges +€369
up €369 (+16.9%), from €2,175 to €2,544
- Financial charges +€327
up €327 (+223%), from €146 to €474
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 | €107,542 | €109,965 | +€2,423 | +2.3% |
| Fixed assets | 21/28 | €4,514 | €2,066 | -€2,448 | -54.2% |
| Tangible fixed assets | 22/27 | €4,424 | €1,976 | -€2,448 | -55.3% |
| Plant, machinery and equipment | 23 | €292 | €152 | -€140 | -48.0% |
| Furniture and vehicles | 24 | €4,131 | €1,824 | -€2,307 | -55.8% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €103,028 | €107,899 | +€4,871 | +4.7% |
| Stocks and contracts in progress | 3 | €1,668 | €1,850 | +€182 | +10.9% |
| Stocks | 30/36 | €1,668 | €1,850 | +€182 | +10.9% |
| Amounts receivable within one year | 40/41 | €74,235 | €91,436 | +€17,201 | +23.2% |
| Other amounts receivable | 41 | €74,235 | €91,436 | +€17,201 | +23.2% |
| Cash at bank and in hand | 54/58 | €27,125 | €14,613 | -€12,512 | -46.1% |
| Total equity and liabilities | 10/49 | €107,542 | €109,965 | +€2,423 | +2.3% |
| Equity | 10/15 | €98,595 | €104,355 | +€5,760 | +5.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €79,995 | €85,755 | +€5,760 | +7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €78,135 | €83,895 | +€5,760 | +7.4% |
| Amounts payable | 17/49 | €8,946 | €5,610 | -€3,337 | -37.3% |
| Amounts payable within one year | 42/48 | €8,946 | €5,610 | -€3,337 | -37.3% |
| Current portion of amounts payable after more than one year | 42 | €575 | - | -€575 | |
| Trade debts | 44 | €2,371 | €1,610 | -€762 | -32.1% |
| Suppliers | 440/4 | €2,371 | €1,610 | -€762 | -32.1% |
| Taxes, remuneration and social security | 45 | €6,000 | €4,000 | -€2,000 | -33.3% |
| Taxes | 450/3 | €6,000 | €4,000 | -€2,000 | -33.3% |
| Remuneration, social security and pensions | 62 | €3,757 | €3,772 | +€15 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,448 | €2,448 | = | 0.0% |
| Other operating charges | 640/8 | €2,175 | €2,544 | +€369 | +16.9% |
| Gross operating margin | 9900 | €25,284 | €15,935 | -€9,348 | -37.0% |
| Operating profit (loss) | 9901 | €16,904 | €7,172 | -€9,732 | -57.6% |
| Financial income | 75/76B | €3,326 | €4,551 | +€1,225 | +36.8% |
| Recurring financial income | 75 | €3,326 | €4,551 | +€1,225 | +36.8% |
| Financial charges | 65/66B | €146 | €474 | +€327 | +223% |
| Recurring financial charges | 65 | €146 | €474 | +€327 | +223% |
| Profit (loss) for the period before taxes | 9903 | €20,083 | €11,249 | -€8,834 | -44.0% |
| Income taxes | 67/77 | €6,170 | €5,489 | -€681 | -11.0% |
| Profit (loss) for the period | 9904 | €13,913 | €5,760 | -€8,153 | -58.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,913 | €5,760 | -€8,153 | -58.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.