NOELOPAN: 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.
NOELOPAN
Largest movements
- Cash +€24,233
up €24,233 (+174%), from €13,898 to €38,131
mainly Net result for the year (+€29,789) and Depreciation (+€9,325)
- Receivables within one year -€7,851
down €7,851 (-15.7%), from €49,961 to €42,110
of which Other amounts receivable: -€8,486
- Tangible fixed assets +€4,779
up €4,779 (+9.8%), from €48,954 to €53,733
of which Furniture and vehicles: +€4,710
- Reserves +€29,789
up €29,789 (+48.9%), from €60,900 to €90,688
of which Distributable reserves: +€29,789
- Other debts -€13,035
down €13,035 (-52.3%), from €24,923 to €11,889
- Tax, wage and social debts +€2,303
up €2,303 (+44.3%), from €5,194 to €7,497
- Trade debts +€2,105
up €2,105 (+65.9%), from €3,195 to €5,300
- Gross operating margin +€3,379
up €3,379 (+6.1%), from €55,404 to €58,783
- Depreciation +€2,918
up €2,918 (+45.6%), from €6,406 to €9,325
- Taxes +€1,018
up €1,018 (+8.4%), from €12,066 to €13,083
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 | €112,812 | €133,974 | +€21,162 | +18.8% |
| Fixed assets | 21/28 | €48,954 | €53,733 | +€4,779 | +9.8% |
| Tangible fixed assets | 22/27 | €48,954 | €53,733 | +€4,779 | +9.8% |
| Plant, machinery and equipment | 23 | €3,087 | €2,253 | -€834 | -27.0% |
| Furniture and vehicles | 24 | €4,681 | €9,392 | +€4,710 | +101% |
| Other tangible fixed assets | 26 | €41,185 | €42,088 | +€903 | +2.2% |
| Current assets | 29/58 | €63,859 | €80,241 | +€16,382 | +25.7% |
| Amounts receivable within one year | 40/41 | €49,961 | €42,110 | -€7,851 | -15.7% |
| Trade receivables | 40 | €41,475 | €42,110 | +€635 | +1.5% |
| Other amounts receivable | 41 | €8,486 | €0 | -€8,486 | -100% |
| Cash at bank and in hand | 54/58 | €13,898 | €38,131 | +€24,233 | +174% |
| Total equity and liabilities | 10/49 | €112,812 | €133,974 | +€21,162 | +18.8% |
| Equity | 10/15 | €79,500 | €109,288 | +€29,789 | +37.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,900 | €90,688 | +€29,789 | +48.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €60,900 | €90,688 | +€29,789 | +48.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,313 | €24,686 | -€8,627 | -25.9% |
| Amounts payable within one year | 42/48 | €33,313 | €24,686 | -€8,627 | -25.9% |
| Trade debts | 44 | €3,195 | €5,300 | +€2,105 | +65.9% |
| Suppliers | 440/4 | €3,195 | €5,300 | +€2,105 | +65.9% |
| Taxes, remuneration and social security | 45 | €5,194 | €7,497 | +€2,303 | +44.3% |
| Taxes | 450/3 | €5,194 | €7,497 | +€2,303 | +44.3% |
| Other amounts payable | 47/48 | €24,923 | €11,889 | -€13,035 | -52.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,406 | €9,325 | +€2,918 | +45.6% |
| Other operating charges | 640/8 | €5,165 | €4,758 | -€407 | -7.9% |
| Gross operating margin | 9900 | €55,404 | €58,783 | +€3,379 | +6.1% |
| Operating profit (loss) | 9901 | €43,833 | €44,700 | +€868 | +2.0% |
| Financial income | 75/76B | €3 | €0 | -€3 | -100% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -100% |
| Financial charges | 65/66B | €2,366 | €1,829 | -€538 | -22.7% |
| Recurring financial charges | 65 | €2,366 | €1,829 | -€538 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €41,469 | €42,872 | +€1,403 | +3.4% |
| Income taxes | 67/77 | €12,066 | €13,083 | +€1,018 | +8.4% |
| Profit (loss) for the period | 9904 | €29,404 | €29,789 | +€385 | +1.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,404 | €29,789 | +€385 | +1.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.