NOELMANS: 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.
NOELMANS
Largest movements
- Tangible fixed assets +€126,908
up €126,908 (+79.0%), from €160,676 to €287,584
- Receivables within one year -€34,238
down €34,238 (-100%), from €34,238 to €0
- Reserves +€52,320
up €52,320 (+54.3%), from €96,385 to €148,705
of which Distributable reserves: +€52,320
- Other debts +€19,661
new in 2024: €19,661
- Tax, wage and social debts +€17,193
new in 2024: €17,193
- Trade debts +€3,643
up €3,643 (+795%), from €458 to €4,101
- Gross operating margin +€79,951
up €79,951 (+974%), from €8,209 to €88,161
- Taxes +€17,193
new in 2024: €17,193
- Depreciation +€16,042
up €16,042 (+3,208%), from €500 to €16,542
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €195,843 | €288,659 | +€92,816 | +47.4% |
| Fixed assets | 21/28 | €160,676 | €287,584 | +€126,908 | +79.0% |
| Tangible fixed assets | 22/27 | €160,676 | €287,584 | +€126,908 | +79.0% |
| Land and buildings | 22 | €160,676 | €287,584 | +€126,908 | +79.0% |
| Current assets | 29/58 | €35,167 | €1,075 | -€34,092 | -96.9% |
| Amounts receivable within one year | 40/41 | €34,238 | €0 | -€34,238 | -100% |
| Other amounts receivable | 41 | €34,238 | €0 | -€34,238 | -100% |
| Cash at bank and in hand | 54/58 | €393 | €538 | +€146 | +37.1% |
| Deferred charges and accrued income | 490/1 | €537 | €537 | = | 0.0% |
| Total equity and liabilities | 10/49 | €195,843 | €288,659 | +€92,816 | +47.4% |
| Equity | 10/15 | €195,385 | €247,705 | +€52,320 | +26.8% |
| Contributions | 10/11 | €99,000 | €99,000 | = | 0.0% |
| Capital | 10 | €99,000 | €99,000 | = | 0.0% |
| Issued capital | 100 | €99,000 | €99,000 | = | 0.0% |
| Reserves | 13 | €96,385 | €148,705 | +€52,320 | +54.3% |
| Non-distributable reserves | 130/1 | €9,900 | €9,900 | = | 0.0% |
| Legal reserve | 130 | €9,900 | €9,900 | = | 0.0% |
| Distributable reserves | 133 | €86,485 | €138,805 | +€52,320 | +60.5% |
| Amounts payable | 17/49 | €458 | €40,955 | +€40,497 | +8,843% |
| Amounts payable within one year | 42/48 | €458 | €40,955 | +€40,497 | +8,843% |
| Trade debts | 44 | €458 | €4,101 | +€3,643 | +795% |
| Suppliers | 440/4 | €458 | €4,101 | +€3,643 | +795% |
| Taxes, remuneration and social security | 45 | - | €17,193 | +€17,193 | |
| Taxes | 450/3 | - | €17,193 | +€17,193 | |
| Other amounts payable | 47/48 | - | €19,661 | +€19,661 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €500 | €16,542 | +€16,042 | +3,208% |
| Other operating charges | 640/8 | €1,879 | €2,148 | +€269 | +14.3% |
| Gross operating margin | 9900 | €8,209 | €88,161 | +€79,951 | +974% |
| Operating profit (loss) | 9901 | €5,830 | €69,470 | +€63,640 | +1,092% |
| Financial income | 75/76B | €617 | €144 | -€472 | -76.6% |
| Recurring financial income | 75 | €617 | €144 | -€472 | -76.6% |
| Financial charges | 65/66B | €142 | €102 | -€40 | -28.0% |
| Recurring financial charges | 65 | €142 | €102 | -€40 | -28.0% |
| Profit (loss) for the period before taxes | 9903 | €6,305 | €69,512 | +€63,208 | +1,003% |
| Income taxes | 67/77 | - | €17,193 | +€17,193 | |
| Profit (loss) for the period | 9904 | €6,305 | €52,320 | +€46,015 | +730% |
| Profit (loss) for the period to be appropriated | 9905 | €6,305 | €52,320 | +€46,015 | +730% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.