NOENKEL KOEK: 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.
NOENKEL KOEK
Largest movements
- Cash -€13,220
down €13,220 (-17.8%), from €74,280 to €61,060
mainly Other debts (-€11,565) and Investment in fixed assets (net) (-€10,867)
- Receivables within one year +€6,003
up €6,003 (+441%), from €1,362 to €7,365
of which Other amounts receivable: +€4,094
- Tangible fixed assets -€4,475
down €4,475 (-6.1%), from €73,358 to €68,884
of which Other tangible fixed assets: -€10,711
- Other debts -€11,565
down €11,565 (-85.1%), from €13,596 to €2,030
- Advances received +€10,426
new in 2025: €10,426
- Debts after one year -€9,708
down €9,708 (-30.1%), from €32,200 to €22,492
- Trade debts -€1,944
down €1,944 (-22.2%), from €8,771 to €6,827
- Staff costs +€40,415
up €40,415 (+40.5%), from €99,891 to €140,306
- Gross operating margin +€22,280
up €22,280 (+16.2%), from €137,246 to €159,525
- Taxes -€3,999
down €3,999 (-82.0%), from €4,876 to €877
- Financial charges -€2,097
down €2,097 (-48.7%), from €4,305 to €2,208
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 | €157,752 | €145,522 | -€12,230 | -7.8% |
| Fixed assets | 21/28 | €73,358 | €68,884 | -€4,475 | -6.1% |
| Tangible fixed assets | 22/27 | €73,358 | €68,884 | -€4,475 | -6.1% |
| Plant, machinery and equipment | 23 | €6,202 | €6,019 | -€183 | -3.0% |
| Furniture and vehicles | 24 | €3,196 | €9,616 | +€6,420 | +201% |
| Other tangible fixed assets | 26 | €63,960 | €53,249 | -€10,711 | -16.7% |
| Current assets | 29/58 | €84,394 | €76,638 | -€7,756 | -9.2% |
| Stocks and contracts in progress | 3 | €6,510 | €6,652 | +€142 | +2.2% |
| Stocks | 30/36 | €6,510 | €6,652 | +€142 | +2.2% |
| Amounts receivable within one year | 40/41 | €1,362 | €7,365 | +€6,003 | +441% |
| Trade receivables | 40 | €0 | €1,910 | +€1,910 | |
| Other amounts receivable | 41 | €1,362 | €5,455 | +€4,094 | +301% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €74,280 | €61,060 | -€13,220 | -17.8% |
| Deferred charges and accrued income | 490/1 | €2,242 | €1,561 | -€681 | -30.4% |
| Total equity and liabilities | 10/49 | €157,752 | €145,522 | -€12,230 | -7.8% |
| Equity | 10/15 | €61,299 | €60,267 | -€1,032 | -1.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €60,299 | €59,267 | -€1,032 | -1.7% |
| Distributable reserves | 133 | €60,299 | €59,267 | -€1,032 | -1.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €96,453 | €85,254 | -€11,199 | -11.6% |
| Amounts payable after more than one year | 17 | €32,200 | €22,492 | -€9,708 | -30.1% |
| Financial debts | 170/4 | €32,200 | €22,492 | -€9,708 | -30.1% |
| Amounts payable within one year | 42/48 | €63,753 | €62,262 | -€1,491 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €9,514 | €9,704 | +€190 | +2.0% |
| Trade debts | 44 | €8,771 | €6,827 | -€1,944 | -22.2% |
| Suppliers | 440/4 | €8,771 | €6,827 | -€1,944 | -22.2% |
| Advances received on contracts in progress | 46 | - | €10,426 | +€10,426 | |
| Taxes, remuneration and social security | 45 | €31,872 | €33,275 | +€1,403 | +4.4% |
| Taxes | 450/3 | €18,070 | €15,969 | -€2,101 | -11.6% |
| Remuneration and social security | 454/9 | €13,802 | €17,306 | +€3,504 | +25.4% |
| Other amounts payable | 47/48 | €13,596 | €2,030 | -€11,565 | -85.1% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €99,891 | €140,306 | +€40,415 | +40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,465 | €15,342 | +€876 | +6.1% |
| Other operating charges | 640/8 | €1,804 | €1,921 | +€117 | +6.5% |
| Non-recurring operating charges | 66A | €3,927 | €0 | -€3,927 | -100% |
| Gross operating margin | 9900 | €137,246 | €159,525 | +€22,280 | +16.2% |
| Operating profit (loss) | 9901 | €17,159 | €1,957 | -€15,202 | -88.6% |
| Financial income | 75/76B | €351 | €97 | -€254 | -72.4% |
| Recurring financial income | 75 | €351 | €97 | -€254 | -72.4% |
| Financial charges | 65/66B | €4,305 | €2,208 | -€2,097 | -48.7% |
| Recurring financial charges | 65 | €4,305 | €2,208 | -€2,097 | -48.7% |
| Profit (loss) for the period before taxes | 9903 | €13,204 | -€155 | -€13,359 | |
| Income taxes | 67/77 | €4,876 | €877 | -€3,999 | -82.0% |
| Profit (loss) for the period | 9904 | €8,328 | -€1,032 | -€9,360 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,328 | -€1,032 | -€9,360 |
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 27 October 2026 via checked.be.