NOESIS: 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.
NOESIS
Largest movements
- Cash +€28,679
up €28,679 (+16.7%), from €171,490 to €200,169
mainly Net result for the year (+€60,150) and Other debts (+€32,479)
- Receivables within one year +€12,932
up €12,932 (+162.4%), from €7,961 to €20,894
of which Trade receivables: +€15,180
- Current investments +€8,000
new in 2025: €8,000
- Tangible fixed assets -€3,625
down €3,625 (-57.6%), from €6,291 to €2,666
- Other debts +€32,479
up €32,479 (+788.7%), from €4,118 to €36,597
- Reserves +€30,140
up €30,140 (+12.7%), from €237,829 to €267,969
of which Distributable reserves: +€30,140
- Tax, wage and social debts -€11,837
down €11,837 (-39.6%), from €29,858 to €18,022
of which Remuneration and social security: -€7,555
- Trade debts -€4,336
down €4,336 (-99.0%), from €4,379 to €42
- Gross operating margin -€22,680
down €22,680 (-21.4%), from €105,857 to €83,177
- Financial income +€8,459
up €8,459 (+48837.9%), from €17 to €8,476
- Depreciation -€4,598
down €4,598 (-58.8%), from €7,821 to €3,223
- Taxes +€2,020
up €2,020 (+8.1%), from €25,009 to €27,029
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 | €290,570 | €335,995 | +€45,425 | +15.6% |
| Fixed assets | 21/28 | €110,530 | €106,905 | -€3,625 | -3.3% |
| Tangible fixed assets | 22/27 | €6,291 | €2,666 | -€3,625 | -57.6% |
| Furniture and vehicles | 24 | €6,291 | €2,666 | -€3,625 | -57.6% |
| Financial fixed assets | 28 | €104,239 | €104,239 | = | 0.0% |
| Current assets | 29/58 | €180,040 | €229,090 | +€49,050 | +27.2% |
| Amounts receivable within one year | 40/41 | €7,961 | €20,894 | +€12,932 | +162.4% |
| Trade receivables | 40 | €0 | €15,180 | +€15,180 | |
| Other amounts receivable | 41 | €7,961 | €5,713 | -€2,248 | -28.2% |
| Current investments | 50/53 | - | €8,000 | +€8,000 | |
| Cash at bank and in hand | 54/58 | €171,490 | €200,169 | +€28,679 | +16.7% |
| Deferred charges and accrued income | 490/1 | €589 | €27 | -€561 | -95.3% |
| Total equity and liabilities | 10/49 | €290,570 | €335,995 | +€45,425 | +15.6% |
| Equity | 10/15 | €251,185 | €281,334 | +€30,150 | +12.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €237,829 | €267,969 | +€30,140 | +12.7% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €235,970 | €266,110 | +€30,140 | +12.8% |
| Profit (loss) carried forward | 14 | €7,155 | €7,165 | +€10 | +0.1% |
| Amounts payable | 17/49 | €39,385 | €54,661 | +€15,275 | +38.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €39,385 | €54,661 | +€15,275 | +38.8% |
| Current portion of amounts payable after more than one year | 42 | €1,030 | €0 | -€1,030 | -100.0% |
| Trade debts | 44 | €4,379 | €42 | -€4,336 | -99.0% |
| Suppliers | 440/4 | €4,379 | €42 | -€4,336 | -99.0% |
| Taxes, remuneration and social security | 45 | €29,858 | €18,022 | -€11,837 | -39.6% |
| Taxes | 450/3 | €22,304 | €18,022 | -€4,282 | -19.2% |
| Remuneration and social security | 454/9 | €7,555 | €0 | -€7,555 | -100.0% |
| Other amounts payable | 47/48 | €4,118 | €36,597 | +€32,479 | +788.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,821 | €3,223 | -€4,598 | -58.8% |
| Other operating charges | 640/8 | €1,120 | €1,024 | -€96 | -8.6% |
| Gross operating margin | 9900 | €105,857 | €83,177 | -€22,680 | -21.4% |
| Operating profit (loss) | 9901 | €96,915 | €78,930 | -€17,986 | -18.6% |
| Financial income | 75/76B | €17 | €8,476 | +€8,459 | +48837.9% |
| Recurring financial income | 75 | €17 | €8,476 | +€8,459 | +48837.9% |
| Financial charges | 65/66B | €273 | €227 | -€46 | -16.8% |
| Recurring financial charges | 65 | €273 | €227 | -€46 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €96,660 | €87,179 | -€9,481 | -9.8% |
| Income taxes | 67/77 | €25,009 | €27,029 | +€2,020 | +8.1% |
| Profit (loss) for the period | 9904 | €71,651 | €60,150 | -€11,501 | -16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,651 | €60,150 | -€11,501 | -16.1% |
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 5 October 2026 via checked.be.