NOËL ATELIERS: what changed
What changed
NOËL ATELIERS
NACE 25.120, Manufacture of fabricated metal products, except machinery and equipment
filed annual accounts (NBB)
Net result for the year
€45,014
2024 · €34,767+€10,246
Equity
€209,750
2024 · €164,736+€45,014
Cash
€327,310
2024 · €249,879+€77,430
Balance sheet total
€482,076
2024 · €448,721+€33,355
Largest movements
Assets
- Cash +€77,430
up €77,430 (+31.0%), from €249,879 to €327,310
mainly Debts after one year (+€150,000) and Net result for the year (+€45,014)
- Receivables within one year -€33,168
down €33,168 (-20.8%), from €159,407 to €126,240
of which Trade receivables: -€26,737
- Stocks and contracts -€9,838
down €9,838 (-29.5%), from €33,301 to €23,463
Equity and liabilities
- Other debts -€154,676
down €154,676 (-62.8%), from €246,408 to €91,732
- Debts after one year +€150,000
new in 2025: €150,000
- Reserves +€40,000
up €40,000 (+40.0%), from €99,969 to €139,969
- Profit (loss) carried forward +€5,014
up €5,014 (+14.4%), from €34,767 to €39,781
Income statement
- Gross operating margin +€17,157
up €17,157 (+25.1%), from €68,387 to €85,543
- Staff costs -€16,528
down €16,528 (-97.4%), from €16,977 to €449
- Financial charges +€8,487
up €8,487 (+1,154%), from €736 to €9,223
- Taxes +€8,451
up €8,451 (+67.0%), from €12,617 to €21,068
- Provisions -€4,350
new in 2025: -€4,350
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.
Result 2024
€34,767
Gross operating margin
+€17,157
Staff costs
+€16,528
Depreciation
+€14
Write-downs
-€1,776
Provisions
+€4,350
Other operating charges
-€3,152
Other operating items
-€5,934
Financial income
-€1
Financial charges
-€8,487
Taxes
-€8,451
Result 2025
€45,014
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€68,836
Investment
-€3,733
Financing
+€150,000
Cash 2024
€249,879
From operations (derived)
-€68,836
Net result for the year
+€45,014
Depreciation
+€3,141
Stocks and contracts
+€9,838
Receivables within one year
+€33,168
Deferred charges and accrued income
+€1,662
Provisions
-€4,350
Trade debts
-€4,025
Tax, wage and social debts
+€1,392
Other debts
-€154,676
Investment (derived)
-€3,733
Investment in fixed assets (net)
-€3,733
Financing
+€150,000
Debts after one year
+€150,000
Cash 2025
€327,310
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €448,721 | €482,076 | +€33,355 | +7.4% |
| Fixed assets | 21/28 | €4,471 | €5,063 | +€592 | +13.2% |
| Tangible fixed assets | 22/27 | €4,471 | €5,063 | +€592 | +13.2% |
| Plant, machinery and equipment | 23 | - | €3,609 | +€3,609 | |
| Furniture and vehicles | 24 | €4,471 | €1,455 | -€3,017 | -67.5% |
| Current assets | 29/58 | €444,249 | €477,012 | +€32,763 | +7.4% |
| Stocks and contracts in progress | 3 | €33,301 | €23,463 | -€9,838 | -29.5% |
| Stocks | 30/36 | €33,301 | €23,463 | -€9,838 | -29.5% |
| Amounts receivable within one year | 40/41 | €159,407 | €126,240 | -€33,168 | -20.8% |
| Trade receivables | 40 | €150,830 | €124,093 | -€26,737 | -17.7% |
| Other amounts receivable | 41 | €8,577 | €2,146 | -€6,431 | -75.0% |
| Cash at bank and in hand | 54/58 | €249,879 | €327,310 | +€77,430 | +31.0% |
| Deferred charges and accrued income | 490/1 | €1,662 | - | -€1,662 | |
| Total equity and liabilities | 10/49 | €448,721 | €482,076 | +€33,355 | +7.4% |
| Equity | 10/15 | €164,736 | €209,750 | +€45,014 | +27.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Capital | 10 | - | €30,000 | +€30,000 | |
| Issued capital | 100 | - | €30,000 | +€30,000 | |
| Reserves | 13 | €99,969 | €139,969 | +€40,000 | +40.0% |
| Distributable reserves | 133 | €99,969 | €139,969 | +€40,000 | +40.0% |
| Profit (loss) carried forward | 14 | €34,767 | €39,781 | +€5,014 | +14.4% |
| Provisions and deferred taxes | 16 | €4,350 | - | -€4,350 | |
| Provisions for liabilities and charges | 160/5 | €4,350 | - | -€4,350 | |
| Environmental obligations | 163 | €4,350 | - | -€4,350 | |
| Amounts payable | 17/49 | €279,635 | €272,326 | -€7,309 | -2.6% |
| Amounts payable after more than one year | 17 | - | €150,000 | +€150,000 | |
| Other amounts payable | 178/9 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €279,635 | €122,326 | -€157,309 | -56.3% |
| Trade debts | 44 | €26,851 | €22,826 | -€4,025 | -15.0% |
| Suppliers | 440/4 | €26,851 | €22,826 | -€4,025 | -15.0% |
| Advances received on contracts in progress | 46 | €4,000 | €4,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,376 | €3,768 | +€1,392 | +58.6% |
| Taxes | 450/3 | €2,376 | €3,768 | +€1,392 | +58.6% |
| Other amounts payable | 47/48 | €246,408 | €91,732 | -€154,676 | -62.8% |
| Remuneration, social security and pensions | 62 | €16,977 | €449 | -€16,528 | -97.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,155 | €3,141 | -€14 | -0.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,776 | +€1,776 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€4,350 | -€4,350 | |
| Other operating charges | 640/8 | €137 | €3,289 | +€3,152 | +2,302% |
| Non-recurring operating charges | 66A | - | €5,934 | +€5,934 | |
| Gross operating margin | 9900 | €68,387 | €85,543 | +€17,157 | +25.1% |
| Operating profit (loss) | 9901 | €48,118 | €75,304 | +€27,186 | +56.5% |
| Financial income | 75/76B | €2 | €1 | -€1 | -67.9% |
| Recurring financial income | 75 | €2 | €1 | -€1 | -67.9% |
| Financial charges | 65/66B | €736 | €9,223 | +€8,487 | +1,154% |
| Recurring financial charges | 65 | €736 | €9,223 | +€8,487 | +1,154% |
| Profit (loss) for the period before taxes | 9903 | €47,384 | €66,082 | +€18,698 | +39.5% |
| Income taxes | 67/77 | €12,617 | €21,068 | +€8,451 | +67.0% |
| Profit (loss) for the period | 9904 | €34,767 | €45,014 | +€10,246 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €34,767 | €45,014 | +€10,246 | +29.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.