Noël & de Belva: 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.
Noël & de Belva
Largest movements
- Receivables within one year -€2,813
down €2,813 (-98.7%), from €2,851 to €38
of which Other amounts receivable: -€2,599
- Cash -€1,200
down €1,200 (-94.2%), from €1,273 to €74
mainly Net result for the year (-€5,589)
- Profit (loss) carried forward -€5,589
down €5,589 (-4.2%), from -€133,152 to -€138,741
- Trade debts +€1,576
up €1,576 (+890%), from €177 to €1,754
- Gross operating margin +€10,963
up €10,963 (+68.4%), from -€16,025 to -€5,062
- Other operating charges -€387
down €387 (-82.9%), from €467 to €80
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 | €101,625 | €97,612 | -€4,013 | -3.9% |
| Current assets | 29/58 | €101,625 | €97,612 | -€4,013 | -3.9% |
| Stocks and contracts in progress | 3 | €97,500 | €97,500 | = | 0.0% |
| Stocks | 30/36 | €97,500 | €97,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,851 | €38 | -€2,813 | -98.7% |
| Trade receivables | 40 | €214 | €0 | -€214 | -100% |
| Other amounts receivable | 41 | €2,637 | €38 | -€2,599 | -98.5% |
| Cash at bank and in hand | 54/58 | €1,273 | €74 | -€1,200 | -94.2% |
| Total equity and liabilities | 10/49 | €101,625 | €97,612 | -€4,013 | -3.9% |
| Equity | 10/15 | €101,448 | €95,859 | -€5,589 | -5.5% |
| Contributions | 10/11 | €234,600 | €234,600 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Contributions outside capital | 11 | €234,600 | €234,600 | = | 0.0% |
| Other | 1109/19 | €234,600 | €234,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€133,152 | -€138,741 | -€5,589 | -4.2% |
| Amounts payable | 17/49 | €177 | €1,754 | +€1,576 | +890% |
| Amounts payable within one year | 42/48 | €177 | €1,754 | +€1,576 | +890% |
| Trade debts | 44 | €177 | €1,754 | +€1,576 | +890% |
| Suppliers | 440/4 | €177 | €1,754 | +€1,576 | +890% |
| Other operating charges | 640/8 | €467 | €80 | -€387 | -82.9% |
| Gross operating margin | 9900 | -€16,025 | -€5,062 | +€10,963 | +68.4% |
| Operating profit (loss) | 9901 | -€16,493 | -€5,142 | +€11,351 | +68.8% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €409 | €447 | +€38 | +9.3% |
| Recurring financial charges | 65 | €409 | €447 | +€38 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | -€16,901 | -€5,589 | +€11,312 | +66.9% |
| Profit (loss) for the period | 9904 | -€16,901 | -€5,589 | +€11,312 | +66.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,901 | -€5,589 | +€11,312 | +66.9% |
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 19 October 2026 via checked.be.