NOIND: 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.
NOIND
Largest movements
- Receivables within one year -€149,044
down €149,044 (-47.5%), from €313,880 to €164,836
- Tangible fixed assets +€105,905
up €105,905 (+3413.0%), from €3,103 to €109,008
- Cash +€50,498
up €50,498 (+24.6%), from €205,692 to €256,190
mainly Receivables within one year (+€149,044) and Depreciation (+€15,662)
- Tax, wage and social debts -€22,864
down €22,864 (-68.7%), from €33,272 to €10,408
of which Taxes: -€22,921
- Profit (loss) carried forward +€13,740
up €13,740 (+7.0%), from €197,287 to €211,027
- Financial income -€12,149
down €12,149 (-38.5%), from €31,533 to €19,384
of which Financial income: -€11,027
- Depreciation +€8,113
up €8,113 (+107.5%), from €7,549 to €15,662
- Gross operating margin +€7,217
up €7,217 (+58.9%), from €12,252 to €19,469
- Taxes -€1,637
down €1,637 (-19.1%), from €8,581 to €6,944
- Other operating charges +€324
up €324 (+18.3%), from €1,773 to €2,097
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 | €1,256,956 | €1,250,965 | -€5,991 | -0.5% |
| Fixed assets | 21/28 | €21,627 | €121,357 | +€99,730 | +461.1% |
| Intangible fixed assets | 21 | €18,524 | €12,349 | -€6,175 | -33.3% |
| Tangible fixed assets | 22/27 | €3,103 | €109,008 | +€105,905 | +3413.0% |
| Furniture and vehicles | 24 | €3,103 | €109,008 | +€105,905 | +3413.0% |
| Current assets | 29/58 | €1,235,329 | €1,129,608 | -€105,721 | -8.6% |
| Amounts receivable within one year | 40/41 | €313,880 | €164,836 | -€149,044 | -47.5% |
| Trade receivables | 40 | €313,880 | €164,836 | -€149,044 | -47.5% |
| Current investments | 50/53 | €702,340 | €702,345 | +€5 | 0.0% |
| Cash at bank and in hand | 54/58 | €205,692 | €256,190 | +€50,498 | +24.6% |
| Deferred charges and accrued income | 490/1 | €13,417 | €6,237 | -€7,180 | -53.5% |
| Total equity and liabilities | 10/49 | €1,256,956 | €1,250,965 | -€5,991 | -0.5% |
| Equity | 10/15 | €1,217,747 | €1,231,487 | +€13,740 | +1.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,001,860 | €1,001,860 | = | 0.0% |
| Distributable reserves | 133 | €1,001,860 | €1,001,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €197,287 | €211,027 | +€13,740 | +7.0% |
| Amounts payable | 17/49 | €39,209 | €19,478 | -€19,731 | -50.3% |
| Amounts payable within one year | 42/48 | €37,209 | €19,478 | -€17,731 | -47.7% |
| Trade debts | 44 | €2,004 | €6,469 | +€4,465 | +222.8% |
| Suppliers | 440/4 | €2,004 | €6,469 | +€4,465 | +222.8% |
| Taxes, remuneration and social security | 45 | €33,272 | €10,408 | -€22,864 | -68.7% |
| Taxes | 450/3 | €30,898 | €7,977 | -€22,921 | -74.2% |
| Remuneration and social security | 454/9 | €2,374 | €2,431 | +€57 | +2.4% |
| Other amounts payable | 47/48 | €1,933 | €2,601 | +€668 | +34.6% |
| Accrued charges and deferred income | 492/3 | €2,000 | €0 | -€2,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,549 | €15,662 | +€8,113 | +107.5% |
| Other operating charges | 640/8 | €1,773 | €2,097 | +€324 | +18.3% |
| Gross operating margin | 9900 | €12,252 | €19,469 | +€7,217 | +58.9% |
| Operating profit (loss) | 9901 | €2,930 | €1,710 | -€1,220 | -41.6% |
| Financial income | 75/76B | €31,533 | €19,384 | -€12,149 | -38.5% |
| Recurring financial income | 75 | €30,411 | €19,384 | -€11,027 | -36.3% |
| Non-recurring financial income | 76B | €1,122 | - | -€1,122 | |
| Financial charges | 65/66B | €206 | €410 | +€204 | +99.0% |
| Recurring financial charges | 65 | €206 | €392 | +€186 | +90.3% |
| Non-recurring financial charges | 66B | - | €18 | +€18 | |
| Profit (loss) for the period before taxes | 9903 | €34,257 | €20,684 | -€13,573 | -39.6% |
| Income taxes | 67/77 | €8,581 | €6,944 | -€1,637 | -19.1% |
| Profit (loss) for the period | 9904 | €25,676 | €13,740 | -€11,936 | -46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,676 | €13,740 | -€11,936 | -46.5% |
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 12 October 2026 via checked.be.