NOLENS: 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.
What changed
NOLENS
NACE 01.500, Mixed farming
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€28,126
2024 · €36,262-€8,136
Equity
€2.5m
2024 · €2.4m+€28,126
Cash
€334,995
2024 · €289,071+€45,924
Balance sheet total
€3.8m
2024 · €3.6m+€139,273
Largest movements
Assets
- Tangible fixed assets +€71,309
up €71,309 (+2.6%), from €2.7m to €2.8m
of which Land and buildings: +€143,791
- Cash +€45,924
up €45,924 (+15.9%), from €289,071 to €334,995
mainly Depreciation (+€155,170) and Debts after one year (+€98,919)
Equity and liabilities
- Debts after one year +€98,919
up €98,919 (+126%), from €78,751 to €177,670
Income statement
- Depreciation +€24,299
up €24,299 (+18.6%), from €130,871 to €155,170
- Other operating charges -€8,573
down €8,573 (-31.9%), from €26,863 to €18,290
- Gross operating margin +€5,913
up €5,913 (+2.4%), from €246,931 to €252,843
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.
Result 2024
€36,262
Gross operating margin
+€5,913
Depreciation
-€24,299
Other operating charges
+€8,573
Financial income
-€379
Financial charges
+€156
Taxes
+€1,901
Result 2025
€28,126
raises the resultlowers the result
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.
From operations
+€155,565
Investment
-€221,479
Financing
+€111,838
Cash 2024
€289,071
From operations (derived)
+€155,565
Net result for the year
+€28,126
Depreciation
+€155,170
Stocks and contracts
-€25,696
Receivables within one year
+€5,340
Deferred charges and accrued income
-€6,685
Trade debts
-€25,172
Tax, wage and social debts
+€302
Other debts
+€24,179
Investment (derived)
-€221,479
Investment in fixed assets (net)
-€221,479
Financing
+€111,838
Debts after one year
+€98,919
Current portion of long-term debt
+€12,919
Cash 2025
€334,995
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,614,314 | €3,753,587 | +€139,273 | +3.9% |
| Fixed assets | 21/28 | €2,733,051 | €2,799,360 | +€66,309 | +2.4% |
| Tangible fixed assets | 22/27 | €2,722,883 | €2,794,192 | +€71,309 | +2.6% |
| Land and buildings | 22 | €2,446,806 | €2,590,597 | +€143,791 | +5.9% |
| Plant, machinery and equipment | 23 | €116,443 | €96,969 | -€19,474 | -16.7% |
| Furniture and vehicles | 24 | €159,634 | €106,626 | -€53,008 | -33.2% |
| Financial fixed assets | 28 | €10,168 | €5,168 | -€5,000 | -49.2% |
| Current assets | 29/58 | €881,263 | €954,227 | +€72,964 | +8.3% |
| Stocks and contracts in progress | 3 | €322,058 | €347,753 | +€25,696 | +8.0% |
| Stocks | 30/36 | €322,058 | €347,753 | +€25,696 | +8.0% |
| Amounts receivable within one year | 40/41 | €232,088 | €226,747 | -€5,340 | -2.3% |
| Trade receivables | 40 | €157,270 | €168,264 | +€10,993 | +7.0% |
| Other amounts receivable | 41 | €74,817 | €58,483 | -€16,334 | -21.8% |
| Cash at bank and in hand | 54/58 | €289,071 | €334,995 | +€45,924 | +15.9% |
| Deferred charges and accrued income | 490/1 | €38,047 | €44,732 | +€6,685 | +17.6% |
| Total equity and liabilities | 10/49 | €3,614,314 | €3,753,587 | +€139,273 | +3.9% |
| Equity | 10/15 | €2,426,797 | €2,454,923 | +€28,126 | +1.2% |
| Contributions | 10/11 | €234,000 | €234,000 | = | 0.0% |
| Capital | 10 | €234,000 | €234,000 | = | 0.0% |
| Issued capital | 100 | €234,000 | €234,000 | = | 0.0% |
| Reserves | 13 | €254,531 | €254,531 | = | 0.0% |
| Non-distributable reserves | 130/1 | €42,000 | €42,000 | = | 0.0% |
| Legal reserve | 130 | €42,000 | €42,000 | = | 0.0% |
| Distributable reserves | 133 | €212,531 | €212,531 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,938,267 | €1,966,393 | +€28,126 | +1.5% |
| Amounts payable | 17/49 | €1,187,516 | €1,298,663 | +€111,147 | +9.4% |
| Amounts payable after more than one year | 17 | €78,751 | €177,670 | +€98,919 | +126% |
| Financial debts | 170/4 | €78,751 | €177,670 | +€98,919 | +126% |
| Amounts payable within one year | 42/48 | €1,108,765 | €1,120,993 | +€12,228 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €35,000 | €47,919 | +€12,919 | +36.9% |
| Trade debts | 44 | €64,536 | €39,364 | -€25,172 | -39.0% |
| Suppliers | 440/4 | €64,536 | €39,364 | -€25,172 | -39.0% |
| Taxes, remuneration and social security | 45 | €11,795 | €12,097 | +€302 | +2.6% |
| Taxes | 450/3 | €11,795 | €12,097 | +€302 | +2.6% |
| Other amounts payable | 47/48 | €997,435 | €1,021,614 | +€24,179 | +2.4% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €130,871 | €155,170 | +€24,299 | +18.6% |
| Other operating charges | 640/8 | €26,863 | €18,290 | -€8,573 | -31.9% |
| Gross operating margin | 9900 | €246,931 | €252,843 | +€5,913 | +2.4% |
| Operating profit (loss) | 9901 | €89,197 | €79,383 | -€9,814 | -11.0% |
| Financial income | 75/76B | €2,252 | €1,873 | -€379 | -16.8% |
| Recurring financial income | 75 | €2,252 | €1,873 | -€379 | -16.8% |
| Financial charges | 65/66B | €43,365 | €43,209 | -€156 | -0.4% |
| Recurring financial charges | 65 | €40,935 | €43,209 | +€2,274 | +5.6% |
| Non-recurring financial charges | 66B | €2,430 | - | -€2,430 | |
| Profit (loss) for the period before taxes | 9903 | €48,084 | €38,047 | -€10,037 | -20.9% |
| Income taxes | 67/77 | €11,822 | €9,921 | -€1,901 | -16.1% |
| Profit (loss) for the period | 9904 | €36,262 | €28,126 | -€8,136 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,262 | €28,126 | -€8,136 | -22.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.