NOHO: 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.
NOHO
Largest movements
- Tangible fixed assets +€143,970
up €143,970 (+19.3%), from €747,516 to €891,486
- Cash -€60,667
down €60,667 (-50.6%), from €119,987 to €59,320
mainly Investment in fixed assets (net) (-€191,272) and Net result for the year (-€45,587)
- Receivables within one year -€16,209
down €16,209 (-91.4%), from €17,735 to €1,526
- Debts after one year +€100,217
up €100,217 (+51.0%), from €196,461 to €296,678
- Profit (loss) carried forward -€45,587
down €45,587 (-19.9%), from -€229,400 to -€274,986
- Other debts +€18,438
up €18,438 (+2.1%), from €868,395 to €886,833
- Depreciation +€11,562
up €11,562 (+32.3%), from €35,740 to €47,302
- Gross operating margin +€7,317
up €7,317 (+62.7%), from €11,673 to €18,990
- Financial charges +€5,082
up €5,082 (+108.0%), from €4,706 to €9,789
- Other operating charges +€855
up €855 (+13.3%), from €6,442 to €7,298
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 | €887,320 | €954,283 | +€66,962 | +7.5% |
| Fixed assets | 21/28 | €747,516 | €891,486 | +€143,970 | +19.3% |
| Tangible fixed assets | 22/27 | €747,516 | €891,486 | +€143,970 | +19.3% |
| Land and buildings | 22 | €747,516 | €891,486 | +€143,970 | +19.3% |
| Current assets | 29/58 | €139,804 | €62,797 | -€77,007 | -55.1% |
| Amounts receivable within one year | 40/41 | €17,735 | €1,526 | -€16,209 | -91.4% |
| Trade receivables | 40 | €17,735 | €1,526 | -€16,209 | -91.4% |
| Cash at bank and in hand | 54/58 | €119,987 | €59,320 | -€60,667 | -50.6% |
| Deferred charges and accrued income | 490/1 | €2,082 | €1,950 | -€132 | -6.3% |
| Total equity and liabilities | 10/49 | €887,320 | €954,283 | +€66,962 | +7.5% |
| Equity | 10/15 | -€209,400 | -€254,986 | -€45,587 | -21.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€229,400 | -€274,986 | -€45,587 | -19.9% |
| Amounts payable | 17/49 | €1,096,720 | €1,209,269 | +€112,549 | +10.3% |
| Amounts payable after more than one year | 17 | €196,461 | €296,678 | +€100,217 | +51.0% |
| Financial debts | 170/4 | €196,461 | €296,678 | +€100,217 | +51.0% |
| Amounts payable within one year | 42/48 | €899,193 | €910,564 | +€11,370 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €17,101 | €21,920 | +€4,819 | +28.2% |
| Trade debts | 44 | €7,706 | €1,601 | -€6,104 | -79.2% |
| Suppliers | 440/4 | €7,706 | €1,601 | -€6,104 | -79.2% |
| Taxes, remuneration and social security | 45 | €5,992 | €210 | -€5,783 | -96.5% |
| Taxes | 450/3 | €5,992 | €210 | -€5,783 | -96.5% |
| Other amounts payable | 47/48 | €868,395 | €886,833 | +€18,438 | +2.1% |
| Accrued charges and deferred income | 492/3 | €1,066 | €2,027 | +€961 | +90.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,740 | €47,302 | +€11,562 | +32.3% |
| Other operating charges | 640/8 | €6,442 | €7,298 | +€855 | +13.3% |
| Gross operating margin | 9900 | €11,673 | €18,990 | +€7,317 | +62.7% |
| Operating profit (loss) | 9901 | -€30,510 | -€35,610 | -€5,100 | -16.7% |
| Financial charges | 65/66B | €4,706 | €9,789 | +€5,082 | +108.0% |
| Recurring financial charges | 65 | €4,706 | €9,789 | +€5,082 | +108.0% |
| Profit (loss) for the period before taxes | 9903 | -€35,216 | -€45,399 | -€10,183 | -28.9% |
| Income taxes | 67/77 | €180 | €188 | +€8 | +4.3% |
| Profit (loss) for the period | 9904 | -€35,396 | -€45,587 | -€10,190 | -28.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€35,396 | -€45,587 | -€10,190 | -28.8% |
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.