NOGALA: 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.
NOGALA
Largest movements
- Cash -€19,819
down €19,819 (-12.9%), from €153,917 to €134,098
mainly Net result for the year (-€28,076) and Investment in fixed assets (net) (-€7,829)
- Reserves -€28,076
down €28,076 (-7.8%), from €361,588 to €333,513
- Gross operating margin -€87,308
down €87,308, from €76,892 to -€10,416
- Taxes -€19,150
no longer reported in 2025 (was €19,150)
- Other operating charges -€1,699
down €1,699 (-27.7%), from €6,133 to €4,435
- Depreciation +€794
up €794 (+6.2%), from €12,716 to €13,509
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 | €574,138 | €546,471 | -€27,667 | -4.8% |
| Fixed assets | 21/28 | €265,526 | €259,846 | -€5,680 | -2.1% |
| Tangible fixed assets | 22/27 | €265,526 | €259,846 | -€5,680 | -2.1% |
| Land and buildings | 22 | €265,526 | €252,811 | -€12,716 | -4.8% |
| Plant, machinery and equipment | 23 | - | €7,035 | +€7,035 | |
| Current assets | 29/58 | €308,612 | €286,624 | -€21,987 | -7.1% |
| Amounts receivable within one year | 40/41 | €2,524 | - | -€2,524 | |
| Other amounts receivable | 41 | €2,524 | - | -€2,524 | |
| Current investments | 50/53 | €150,375 | €150,375 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €153,917 | €134,098 | -€19,819 | -12.9% |
| Deferred charges and accrued income | 490/1 | €1,796 | €2,152 | +€356 | +19.8% |
| Total equity and liabilities | 10/49 | €574,138 | €546,471 | -€27,667 | -4.8% |
| Equity | 10/15 | €552,788 | €524,713 | -€28,076 | -5.1% |
| Contributions | 10/11 | €191,200 | €191,200 | = | 0.0% |
| Outside capital | 11 | €191,200 | €191,200 | = | 0.0% |
| Other | 1109/19 | €191,200 | €191,200 | = | 0.0% |
| Reserves | 13 | €361,588 | €333,513 | -€28,076 | -7.8% |
| Distributable reserves | 133 | €361,588 | €333,513 | -€28,076 | -7.8% |
| Amounts payable | 17/49 | €21,350 | €21,758 | +€408 | +1.9% |
| Amounts payable within one year | 42/48 | €21,350 | €21,758 | +€408 | +1.9% |
| Trade debts | 44 | €5,190 | €5,621 | +€431 | +8.3% |
| Suppliers | 440/4 | €5,190 | €5,621 | +€431 | +8.3% |
| Taxes, remuneration and social security | 45 | €11,544 | €11,544 | = | 0.0% |
| Taxes | 450/3 | €11,544 | €11,544 | = | 0.0% |
| Other amounts payable | 47/48 | €4,616 | €4,593 | -€23 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,716 | €13,509 | +€794 | +6.2% |
| Other operating charges | 640/8 | €6,133 | €4,435 | -€1,699 | -27.7% |
| Gross operating margin | 9900 | €76,892 | -€10,416 | -€87,308 | |
| Operating profit (loss) | 9901 | €58,043 | -€28,360 | -€86,403 | |
| Financial income | 75/76B | €354 | €311 | -€43 | -12.0% |
| Recurring financial income | 75 | €354 | €311 | -€43 | -12.0% |
| Financial charges | 65/66B | €11 | €27 | +€16 | +152.3% |
| Recurring financial charges | 65 | €11 | €27 | +€16 | +152.3% |
| Profit (loss) for the period before taxes | 9903 | €58,387 | -€28,076 | -€86,462 | |
| Income taxes | 67/77 | €19,150 | - | -€19,150 | |
| Profit (loss) for the period | 9904 | €39,236 | -€28,076 | -€67,312 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,236 | -€28,076 | -€67,312 |
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 2 October 2026 via checked.be.