Noens Natalie: 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.
Noens Natalie
Largest movements
- Tangible fixed assets -€48,608
down €48,608 (-13.1%), from €370,082 to €321,474
- Cash -€5,223
down €5,223 (-57.5%), from €9,091 to €3,868
mainly Debts after one year (-€45,703) and Contributions, distributions and other (-€16,500)
- Debts after one year -€45,703
down €45,703 (-29.1%), from €157,190 to €111,487
- Reserves -€11,986
down €11,986 (-28.1%), from €42,669 to €30,684
of which Distributable reserves: -€10,126
- Other debts +€9,493
up €9,493 (+208%), from €4,558 to €14,051
- Gross operating margin -€3,656
down €3,656 (-4.8%), from €76,939 to €73,283
- Other operating charges -€1,751
down €1,751 (-27.3%), from €6,417 to €4,666
- Taxes +€1,431
up €1,431 (+21.5%), from €6,644 to €8,075
- Financial charges -€1,046
down €1,046 (-12.3%), from €8,469 to €7,423
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 | €393,287 | €343,065 | -€50,222 | -12.8% |
| Fixed assets | 21/28 | €370,082 | €321,474 | -€48,608 | -13.1% |
| Tangible fixed assets | 22/27 | €370,082 | €321,474 | -€48,608 | -13.1% |
| Land and buildings | 22 | €267,277 | €245,038 | -€22,239 | -8.3% |
| Plant, machinery and equipment | 23 | €81,653 | €68,652 | -€13,001 | -15.9% |
| Furniture and vehicles | 24 | €21,152 | €7,784 | -€13,368 | -63.2% |
| Current assets | 29/58 | €23,206 | €21,591 | -€1,614 | -7.0% |
| Amounts receivable within one year | 40/41 | €160 | €777 | +€617 | +386% |
| Trade receivables | 40 | - | €306 | +€306 | |
| Other amounts receivable | 41 | €160 | €471 | +€311 | +195% |
| Cash at bank and in hand | 54/58 | €9,091 | €3,868 | -€5,223 | -57.5% |
| Deferred charges and accrued income | 490/1 | €13,955 | €16,947 | +€2,992 | +21.4% |
| Total equity and liabilities | 10/49 | €393,287 | €343,065 | -€50,222 | -12.8% |
| Equity | 10/15 | €164,402 | €152,416 | -€11,986 | -7.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €42,669 | €30,684 | -€11,986 | -28.1% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €40,809 | €30,684 | -€10,126 | -24.8% |
| Profit (loss) carried forward | 14 | €109,332 | €109,332 | = | 0.0% |
| Amounts payable | 17/49 | €228,886 | €190,649 | -€38,236 | -16.7% |
| Amounts payable after more than one year | 17 | €157,190 | €111,487 | -€45,703 | -29.1% |
| Financial debts | 170/4 | €157,190 | €111,487 | -€45,703 | -29.1% |
| Amounts payable within one year | 42/48 | €71,670 | €78,503 | +€6,833 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €48,340 | €45,703 | -€2,637 | -5.5% |
| Trade debts | 44 | €8,861 | €9,964 | +€1,103 | +12.5% |
| Suppliers | 440/4 | €8,861 | €9,964 | +€1,103 | +12.5% |
| Taxes, remuneration and social security | 45 | €9,912 | €8,785 | -€1,127 | -11.4% |
| Taxes | 450/3 | €9,912 | €8,785 | -€1,127 | -11.4% |
| Other amounts payable | 47/48 | €4,558 | €14,051 | +€9,493 | +208% |
| Accrued charges and deferred income | 492/3 | €25 | €659 | +€634 | +2,519% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,810 | €48,608 | -€202 | -0.4% |
| Other operating charges | 640/8 | €6,417 | €4,666 | -€1,751 | -27.3% |
| Gross operating margin | 9900 | €76,939 | €73,283 | -€3,656 | -4.8% |
| Operating profit (loss) | 9901 | €21,712 | €20,009 | -€1,703 | -7.8% |
| Financial income | 75/76B | €7 | €3 | -€4 | -60.4% |
| Recurring financial income | 75 | €7 | €3 | -€4 | -60.4% |
| Financial charges | 65/66B | €8,469 | €7,423 | -€1,046 | -12.3% |
| Recurring financial charges | 65 | €8,469 | €7,423 | -€1,046 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €13,250 | €12,589 | -€662 | -5.0% |
| Income taxes | 67/77 | €6,644 | €8,075 | +€1,431 | +21.5% |
| Profit (loss) for the period | 9904 | €6,607 | €4,514 | -€2,092 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,607 | €4,514 | -€2,092 | -31.7% |
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 29 October 2026 via checked.be.