NOGACON: 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.
NOGACON
Largest movements
- Cash +€94,700
up €94,700 (+166%), from €57,148 to €151,847
mainly Net result for the year (+€122,611) and Depreciation (+€12,024)
- Current investments +€17,260
new in 2025: €17,260
- Tangible fixed assets -€12,024
down €12,024 (-36.4%), from €33,058 to €21,034
- Receivables within one year +€9,248
up €9,248 (+41.6%), from €22,216 to €31,463
of which Other amounts receivable: +€7,941
- Reserves +€169,550
new in 2025: €169,550
- Profit (loss) carried forward -€46,940
down €46,940 (-100%), from €46,940 to €0
- Debts after one year -€13,296
down €13,296 (-56.3%), from €23,636 to €10,340
- Gross operating margin +€111,143
up €111,143 (+176%), from €62,990 to €174,133
- Taxes +€24,907
up €24,907 (+198%), from €12,568 to €37,476
- Depreciation +€9,010
up €9,010 (+299%), from €3,014 to €12,024
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 | €113,298 | €222,481 | +€109,183 | +96.4% |
| Fixed assets | 21/28 | €33,058 | €21,034 | -€12,024 | -36.4% |
| Tangible fixed assets | 22/27 | €33,058 | €21,034 | -€12,024 | -36.4% |
| Furniture and vehicles | 24 | €33,058 | €21,034 | -€12,024 | -36.4% |
| Current assets | 29/58 | €80,240 | €201,447 | +€121,207 | +151% |
| Amounts receivable within one year | 40/41 | €22,216 | €31,463 | +€9,248 | +41.6% |
| Trade receivables | 40 | €22,216 | €23,522 | +€1,307 | +5.9% |
| Other amounts receivable | 41 | - | €7,941 | +€7,941 | |
| Current investments | 50/53 | - | €17,260 | +€17,260 | |
| Cash at bank and in hand | 54/58 | €57,148 | €151,847 | +€94,700 | +166% |
| Deferred charges and accrued income | 490/1 | €877 | €877 | = | 0.0% |
| Total equity and liabilities | 10/49 | €113,298 | €222,481 | +€109,183 | +96.4% |
| Equity | 10/15 | €49,940 | €172,550 | +€122,611 | +246% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €169,550 | +€169,550 | |
| Distributable reserves | 133 | - | €169,550 | +€169,550 | |
| Profit (loss) carried forward | 14 | €46,940 | €0 | -€46,940 | -100% |
| Amounts payable | 17/49 | €63,358 | €49,931 | -€13,427 | -21.2% |
| Amounts payable after more than one year | 17 | €23,636 | €10,340 | -€13,296 | -56.3% |
| Financial debts | 170/4 | €23,636 | €10,340 | -€13,296 | -56.3% |
| Amounts payable within one year | 42/48 | €39,722 | €39,591 | -€131 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €12,756 | €13,296 | +€540 | +4.2% |
| Trade debts | 44 | €1,595 | €904 | -€691 | -43.3% |
| Suppliers | 440/4 | €1,595 | €904 | -€691 | -43.3% |
| Taxes, remuneration and social security | 45 | €25,370 | €25,271 | -€99 | -0.4% |
| Taxes | 450/3 | €25,370 | €25,271 | -€99 | -0.4% |
| Other amounts payable | 47/48 | - | €119 | +€119 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,014 | €12,024 | +€9,010 | +299% |
| Other operating charges | 640/8 | €63 | €869 | +€806 | +1,278% |
| Gross operating margin | 9900 | €62,990 | €174,133 | +€111,143 | +176% |
| Operating profit (loss) | 9901 | €59,912 | €161,239 | +€101,327 | +169% |
| Financial income | 75/76B | - | €238 | +€238 | |
| Recurring financial income | 75 | - | €238 | +€238 | |
| Financial charges | 65/66B | €404 | €1,391 | +€986 | +244% |
| Recurring financial charges | 65 | €404 | €1,391 | +€986 | +244% |
| Profit (loss) for the period before taxes | 9903 | €59,508 | €160,086 | +€100,578 | +169% |
| Income taxes | 67/77 | €12,568 | €37,476 | +€24,907 | +198% |
| Profit (loss) for the period | 9904 | €46,940 | €122,611 | +€75,671 | +161% |
| Profit (loss) for the period to be appropriated | 9905 | €46,940 | €122,611 | +€75,671 | +161% |
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 13 October 2026 via checked.be.