NOEL PROPERTIES: 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.
NOEL PROPERTIES
Largest movements
- Cash -€1,774
down €1,774 (-49.3%), from €3,597 to €1,823
mainly Trade debts (-€1,207) and Net result for the year (-€420)
- Tangible fixed assets -€514
down €514 (-61.6%), from €834 to €320
- Deferred charges and accrued income +€232
new in 2025: €232
- Receivables within one year +€186
up €186 (+14.1%), from €1,318 to €1,503
of which Trade receivables: +€180
- Trade debts -€1,207
down €1,207 (-93.9%), from €1,286 to €79
- Profit (loss) carried forward -€420
down €420 (-70.4%), from €596 to €176
- Tax, wage and social debts -€243
down €243 (-13.0%), from €1,866 to €1,623
of which Remuneration and social security: -€1,250
- Financial charges +€629
up €629 (+2631.0%), from €24 to €653
- Depreciation +€320
up €320 (+164.7%), from €194 to €514
- Gross operating margin -€301
down €301 (-28.7%), from €1,049 to €747
- Taxes -€235
no longer reported in 2025 (was €235)
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 | €5,748 | €3,878 | -€1,870 | -32.5% |
| Fixed assets | 21/28 | €834 | €320 | -€514 | -61.6% |
| Tangible fixed assets | 22/27 | €834 | €320 | -€514 | -61.6% |
| Furniture and vehicles | 24 | €834 | €320 | -€514 | -61.6% |
| Current assets | 29/58 | €4,914 | €3,558 | -€1,356 | -27.6% |
| Amounts receivable within one year | 40/41 | €1,318 | €1,503 | +€186 | +14.1% |
| Trade receivables | 40 | €1,318 | €1,497 | +€180 | +13.6% |
| Other amounts receivable | 41 | - | €6 | +€6 | |
| Cash at bank and in hand | 54/58 | €3,597 | €1,823 | -€1,774 | -49.3% |
| Deferred charges and accrued income | 490/1 | - | €232 | +€232 | |
| Total equity and liabilities | 10/49 | €5,748 | €3,878 | -€1,870 | -32.5% |
| Equity | 10/15 | €2,596 | €2,176 | -€420 | -16.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €596 | €176 | -€420 | -70.4% |
| Amounts payable | 17/49 | €3,152 | €1,702 | -€1,451 | -46.0% |
| Amounts payable within one year | 42/48 | €3,152 | €1,702 | -€1,451 | -46.0% |
| Trade debts | 44 | €1,286 | €79 | -€1,207 | -93.9% |
| Suppliers | 440/4 | €1,286 | €79 | -€1,207 | -93.9% |
| Taxes, remuneration and social security | 45 | €1,866 | €1,623 | -€243 | -13.0% |
| Taxes | 450/3 | €616 | €1,623 | +€1,007 | +163.3% |
| Remuneration and social security | 454/9 | €1,250 | - | -€1,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194 | €514 | +€320 | +164.7% |
| Gross operating margin | 9900 | €1,049 | €747 | -€301 | -28.7% |
| Operating profit (loss) | 9901 | €854 | €233 | -€621 | -72.7% |
| Financial charges | 65/66B | €24 | €653 | +€629 | +2631.0% |
| Recurring financial charges | 65 | €24 | €653 | +€629 | +2631.0% |
| Profit (loss) for the period before taxes | 9903 | €831 | -€420 | -€1,250 | |
| Income taxes | 67/77 | €235 | - | -€235 | |
| Profit (loss) for the period | 9904 | €596 | -€420 | -€1,016 | |
| Profit (loss) for the period to be appropriated | 9905 | €596 | -€420 | -€1,016 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.