NOEL VAN LOON: 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 VAN LOON
Largest movements
- Receivables within one year -€35,124
down €35,124 (-96.1%), from €36,552 to €1,428
of which Trade receivables: -€34,656
- Cash +€17,389
up €17,389 (+124%), from €13,971 to €31,360
mainly Receivables within one year (+€35,124) and Net result for the year (+€7,056)
- Tangible fixed assets -€6,213
down €6,213 (-2.3%), from €274,488 to €268,275
- Trade debts -€27,037
down €27,037 (-97.8%), from €27,653 to €616
- Reserves +€7,056
up €7,056 (+2.9%), from €242,978 to €250,034
- Other debts -€3,965
down €3,965 (-14.3%), from €27,735 to €23,770
- Gross operating margin -€13,710
down €13,710 (-38.1%), from €36,025 to €22,315
- Taxes -€3,204
down €3,204 (-46.5%), from €6,888 to €3,684
- Depreciation -€500
down €500 (-7.4%), from €6,713 to €6,213
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 | €325,467 | €301,906 | -€23,561 | -7.2% |
| Fixed assets | 21/28 | €274,488 | €268,275 | -€6,213 | -2.3% |
| Tangible fixed assets | 22/27 | €274,488 | €268,275 | -€6,213 | -2.3% |
| Land and buildings | 22 | €274,488 | €268,275 | -€6,213 | -2.3% |
| Current assets | 29/58 | €50,979 | €33,631 | -€17,348 | -34.0% |
| Amounts receivable within one year | 40/41 | €36,552 | €1,428 | -€35,124 | -96.1% |
| Trade receivables | 40 | €34,656 | - | -€34,656 | |
| Other amounts receivable | 41 | €1,896 | €1,428 | -€468 | -24.7% |
| Cash at bank and in hand | 54/58 | €13,971 | €31,360 | +€17,389 | +124% |
| Deferred charges and accrued income | 490/1 | €457 | €844 | +€387 | +84.8% |
| Total equity and liabilities | 10/49 | €325,467 | €301,906 | -€23,561 | -7.2% |
| Equity | 10/15 | €261,570 | €268,626 | +€7,056 | +2.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €242,978 | €250,034 | +€7,056 | +2.9% |
| Distributable reserves | 133 | €242,978 | €250,034 | +€7,056 | +2.9% |
| Amounts payable | 17/49 | €63,898 | €33,280 | -€30,618 | -47.9% |
| Amounts payable after more than one year | 17 | €5,755 | €7,443 | +€1,688 | +29.3% |
| Other amounts payable | 178/9 | €5,755 | €7,443 | +€1,688 | +29.3% |
| Amounts payable within one year | 42/48 | €58,104 | €25,837 | -€32,267 | -55.5% |
| Financial debts | 43 | €340 | €345 | +€6 | +1.7% |
| Credit institutions | 430/8 | €340 | €345 | +€6 | +1.7% |
| Trade debts | 44 | €27,653 | €616 | -€27,037 | -97.8% |
| Suppliers | 440/4 | €27,653 | €616 | -€27,037 | -97.8% |
| Taxes, remuneration and social security | 45 | €2,376 | €1,106 | -€1,270 | -53.5% |
| Taxes | 450/3 | €2,376 | €1,106 | -€1,270 | -53.5% |
| Other amounts payable | 47/48 | €27,735 | €23,770 | -€3,965 | -14.3% |
| Accrued charges and deferred income | 492/3 | €39 | - | -€39 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,713 | €6,213 | -€500 | -7.4% |
| Other operating charges | 640/8 | €5,042 | €5,067 | +€25 | +0.5% |
| Gross operating margin | 9900 | €36,025 | €22,315 | -€13,710 | -38.1% |
| Operating profit (loss) | 9901 | €24,270 | €11,035 | -€13,235 | -54.5% |
| Financial income | 75/76B | €0 | €2 | +€2 | +24,600% |
| Recurring financial income | 75 | €0 | €2 | +€2 | +24,600% |
| Financial charges | 65/66B | €369 | €297 | -€72 | -19.6% |
| Recurring financial charges | 65 | €369 | €297 | -€72 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €23,901 | €10,740 | -€13,161 | -55.1% |
| Income taxes | 67/77 | €6,888 | €3,684 | -€3,204 | -46.5% |
| Profit (loss) for the period | 9904 | €17,013 | €7,056 | -€9,957 | -58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €17,013 | €7,056 | -€9,957 | -58.5% |
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 31 October 2026 via checked.be.