Noël MOT: what changed
Noël MOT
Largest movements
- Cash -€32,690
down €32,690 (-42.1%), from €77,693 to €45,003
mainly Contributions, distributions and other (-€14,118) and Tax, wage and social debts (-€9,253)
- Receivables within one year +€1,988
up €1,988 (+61.7%), from €3,221 to €5,209
of which Trade receivables: +€2,235
- Reserves -€14,118
down €14,118 (-23.5%), from €60,062 to €45,943
of which Distributable reserves: -€14,118
- Tax, wage and social debts -€9,253
down €9,253 (-91.9%), from €10,071 to €818
- Profit (loss) carried forward -€5,882
down €5,882 (-63.5%), from -€9,259 to -€15,141
- Trade debts -€1,841
no longer reported in 2025 (was €1,841)
- Purchases and services -€8,426
down €8,426 (-54.1%), from €15,575 to €7,149
- Write-downs +€6,118
new in 2025: €6,118
- Gross operating margin +€1,806
up €1,806, from -€714 to €1,092
- Depreciation -€1,333
no longer reported in 2025 (was €1,333)
- Financial charges -€597
down €597 (-69.9%), from €853 to €257
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 | €81,377 | €50,212 | -€31,165 | -38.3% |
| Fixed assets | 21/28 | €325 | - | -€325 | |
| Tangible fixed assets | 22/27 | €325 | - | -€325 | |
| Furniture and vehicles | 24 | €325 | - | -€325 | |
| Current assets | 29/58 | €81,051 | €50,212 | -€30,839 | -38.0% |
| Amounts receivable within one year | 40/41 | €3,221 | €5,209 | +€1,988 | +61.7% |
| Trade receivables | 40 | €605 | €2,840 | +€2,235 | +369% |
| Other amounts receivable | 41 | €2,616 | €2,369 | -€246 | -9.4% |
| Cash at bank and in hand | 54/58 | €77,693 | €45,003 | -€32,690 | -42.1% |
| Deferred charges and accrued income | 490/1 | €137 | - | -€137 | |
| Total equity and liabilities | 10/49 | €81,377 | €50,212 | -€31,165 | -38.3% |
| Equity | 10/15 | €69,395 | €49,394 | -€20,001 | -28.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Contributions outside capital | 11 | €18,592 | €18,592 | = | 0.0% |
| Other | 1109/19 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €60,062 | €45,943 | -€14,118 | -23.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €58,203 | €44,084 | -€14,118 | -24.3% |
| Profit (loss) carried forward | 14 | -€9,259 | -€15,141 | -€5,882 | -63.5% |
| Amounts payable | 17/49 | €11,982 | €818 | -€11,164 | -93.2% |
| Amounts payable within one year | 42/48 | €11,982 | €818 | -€11,164 | -93.2% |
| Trade debts | 44 | €1,841 | - | -€1,841 | |
| Suppliers | 440/4 | €1,841 | - | -€1,841 | |
| Taxes, remuneration and social security | 45 | €10,071 | €818 | -€9,253 | -91.9% |
| Taxes | 450/3 | €10,071 | €818 | -€9,253 | -91.9% |
| Other amounts payable | 47/48 | €70 | - | -€70 | |
| Non-recurring operating income | 76A | - | €425 | +€425 | |
| Goods, raw materials, services and sundry goods | 60/61 | €15,575 | €7,149 | -€8,426 | -54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,333 | - | -€1,333 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,118 | +€6,118 | |
| Other operating charges | 640/8 | €335 | €375 | +€40 | +12.1% |
| Non-recurring operating charges | 66A | €6,078 | - | -€6,078 | |
| Gross operating margin | 9900 | -€714 | €1,092 | +€1,806 | |
| Operating profit (loss) | 9901 | -€8,460 | -€5,401 | +€3,059 | +36.2% |
| Financial income | 75/76B | €55 | €15 | -€40 | -72.6% |
| Recurring financial income | 75 | €55 | €15 | -€40 | -72.6% |
| Financial charges | 65/66B | €853 | €257 | -€597 | -69.9% |
| Recurring financial charges | 65 | €853 | €257 | -€597 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | -€9,259 | -€5,643 | +€3,616 | +39.1% |
| Income taxes | 67/77 | - | €240 | +€240 | |
| Profit (loss) for the period | 9904 | -€9,259 | -€5,882 | +€3,376 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,259 | -€5,882 | +€3,376 | +36.5% |
Next steps
Calculation and sources
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 2 November 2026 via checked.be.