NOIRAM: 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.
NOIRAM
Largest movements
- Receivables within one year -€12,124
down €12,124 (-35.0%), from €34,616 to €22,492
- Cash -€4,775
down €4,775 (-13.9%), from €34,457 to €29,681
mainly Trade debts (-€27,253) and Other debts (-€1,600)
- Stocks and contracts -€4,550
down €4,550 (-14.8%), from €30,814 to €26,264
- Tangible fixed assets -€1,488
down €1,488 (-61.6%), from €2,417 to €929
- Trade debts -€27,253
down €27,253 (-83.1%), from €32,795 to €5,542
- Profit (loss) carried forward +€3,528
up €3,528 (+12.6%), from -€27,959 to -€24,430
- Tax, wage and social debts +€2,652
up €2,652 (+395%), from €671 to €3,323
- Other debts -€1,600
down €1,600 (-2.0%), from €78,834 to €77,234
- Gross operating margin -€3,571
down €3,571 (-39.3%), from €9,085 to €5,514
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 | €102,942 | €80,270 | -€22,672 | -22.0% |
| Fixed assets | 21/28 | €2,417 | €929 | -€1,488 | -61.6% |
| Tangible fixed assets | 22/27 | €2,417 | €929 | -€1,488 | -61.6% |
| Plant, machinery and equipment | 23 | €2,417 | €929 | -€1,488 | -61.6% |
| Current assets | 29/58 | €100,525 | €79,341 | -€21,184 | -21.1% |
| Stocks and contracts in progress | 3 | €30,814 | €26,264 | -€4,550 | -14.8% |
| Stocks | 30/36 | €30,814 | €26,264 | -€4,550 | -14.8% |
| Amounts receivable within one year | 40/41 | €34,616 | €22,492 | -€12,124 | -35.0% |
| Trade receivables | 40 | €34,616 | €22,492 | -€12,124 | -35.0% |
| Cash at bank and in hand | 54/58 | €34,457 | €29,681 | -€4,775 | -13.9% |
| Deferred charges and accrued income | 490/1 | €638 | €903 | +€265 | +41.5% |
| Total equity and liabilities | 10/49 | €102,942 | €80,270 | -€22,672 | -22.0% |
| Equity | 10/15 | -€9,359 | -€5,830 | +€3,528 | +37.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,959 | -€24,430 | +€3,528 | +12.6% |
| Amounts payable | 17/49 | €112,301 | €86,100 | -€26,201 | -23.3% |
| Amounts payable within one year | 42/48 | €112,301 | €86,100 | -€26,201 | -23.3% |
| Trade debts | 44 | €32,795 | €5,542 | -€27,253 | -83.1% |
| Suppliers | 440/4 | €32,795 | €5,542 | -€27,253 | -83.1% |
| Taxes, remuneration and social security | 45 | €671 | €3,323 | +€2,652 | +395% |
| Taxes | 450/3 | €671 | €3,323 | +€2,652 | +395% |
| Other amounts payable | 47/48 | €78,834 | €77,234 | -€1,600 | -2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,488 | €1,488 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €9,085 | €5,514 | -€3,571 | -39.3% |
| Operating profit (loss) | 9901 | €7,210 | €3,627 | -€3,583 | -49.7% |
| Financial income | 75/76B | €40 | - | -€40 | |
| Recurring financial income | 75 | €40 | - | -€40 | |
| Financial charges | 65/66B | €114 | €99 | -€15 | -13.2% |
| Recurring financial charges | 65 | €114 | €99 | -€15 | -13.2% |
| Profit (loss) for the period before taxes | 9903 | €7,136 | €3,528 | -€3,608 | -50.6% |
| Profit (loss) for the period | 9904 | €7,136 | €3,528 | -€3,608 | -50.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,136 | €3,528 | -€3,608 | -50.6% |
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 17 October 2026 via checked.be.