Noeltech: what changed
Two fiscal 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.
Noeltech
Largest movements
- Cash +€48,306
up €48,306 (+125.3%), from €38,546 to €86,852
mainly Net result for the year (+€59,483) and Other debts (+€6,177)
- Receivables within one year +€6,902
up €6,902 (+44.9%), from €15,362 to €22,264
- Tangible fixed assets +€4,020
up €4,020 (+2.4%), from €164,295 to €168,315
of which Furniture and vehicles: +€5,719
- Reserves +€53,483
up €53,483 (+27.8%), from €192,487 to €245,969
- Other debts +€6,177
up €6,177 (+151.2%), from €4,086 to €10,262
- Gross operating margin +€34,704
up €34,704 (+67.0%), from €51,828 to €86,532
- Taxes +€7,238
up €7,238 (+43.9%), from €16,503 to €23,741
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 | €218,449 | €278,187 | +€59,738 | +27.3% |
| Fixed assets | 21/28 | €164,295 | €168,315 | +€4,020 | +2.4% |
| Tangible fixed assets | 22/27 | €164,295 | €168,315 | +€4,020 | +2.4% |
| Land and buildings | 22 | €156,000 | €156,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €259 | €0 | -€259 | -100.0% |
| Furniture and vehicles | 24 | - | €5,719 | +€5,719 | |
| Other tangible fixed assets | 26 | €8,036 | €6,596 | -€1,440 | -17.9% |
| Current assets | 29/58 | €54,154 | €109,871 | +€55,718 | +102.9% |
| Amounts receivable within one year | 40/41 | €15,362 | €22,264 | +€6,902 | +44.9% |
| Trade receivables | 40 | €15,362 | €22,264 | +€6,902 | +44.9% |
| Cash at bank and in hand | 54/58 | €38,546 | €86,852 | +€48,306 | +125.3% |
| Deferred charges and accrued income | 490/1 | €246 | €756 | +€510 | +207.2% |
| Total equity and liabilities | 10/49 | €218,449 | €278,187 | +€59,738 | +27.3% |
| Equity | 10/15 | €204,887 | €258,369 | +€53,483 | +26.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €192,487 | €245,969 | +€53,483 | +27.8% |
| Distributable reserves | 133 | €192,487 | €245,969 | +€53,483 | +27.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €13,562 | €19,817 | +€6,255 | +46.1% |
| Amounts payable within one year | 42/48 | €13,562 | €19,817 | +€6,255 | +46.1% |
| Financial debts | 43 | - | €100 | +€100 | |
| Credit institutions | 430/8 | - | €100 | +€100 | |
| Trade debts | 44 | €805 | €279 | -€526 | -65.4% |
| Suppliers | 440/4 | €805 | €279 | -€526 | -65.4% |
| Taxes, remuneration and social security | 45 | €8,671 | €9,176 | +€505 | +5.8% |
| Taxes | 450/3 | €8,671 | €9,176 | +€505 | +5.8% |
| Other amounts payable | 47/48 | €4,086 | €10,262 | +€6,177 | +151.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,939 | €2,628 | +€689 | +35.5% |
| Other operating charges | 640/8 | €687 | €951 | +€263 | +38.3% |
| Gross operating margin | 9900 | €51,828 | €86,532 | +€34,704 | +67.0% |
| Operating profit (loss) | 9901 | €49,202 | €82,953 | +€33,752 | +68.6% |
| Financial income | 75/76B | €241 | €340 | +€99 | +40.9% |
| Recurring financial income | 75 | €241 | €340 | +€99 | +40.9% |
| Financial charges | 65/66B | €225 | €70 | -€155 | -68.9% |
| Recurring financial charges | 65 | €225 | €70 | -€155 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | €49,218 | €83,223 | +€34,005 | +69.1% |
| Income taxes | 67/77 | €16,503 | €23,741 | +€7,238 | +43.9% |
| Profit (loss) for the period | 9904 | €32,715 | €59,483 | +€26,767 | +81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,715 | €59,483 | +€26,767 | +81.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.