NOLMANS J.: 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.
NOLMANS J.
Largest movements
- Tangible fixed assets -€89,432
down €89,432 (-83.6%), from €107,000 to €17,567
of which Land and buildings: -€79,924
- Cash -€82,917
down €82,917 (-82.6%), from €100,429 to €17,511
mainly Net result for the year (-€104,612) and Contributions, distributions and other (-€30,583)
- Receivables within one year +€11,890
up €11,890 (+15.2%), from €78,373 to €90,263
of which Other amounts receivable: +€12,236
- Reserves -€191,128
down €191,128 (-84.6%), from €225,846 to €34,718
of which Distributable reserves: -€138,545
- Profit (loss) carried forward +€55,933
no longer reported in 2025 (was -€55,933)
- Current portion of long-term debt -€25,090
down €25,090 (-71.5%), from €35,070 to €9,980
- Debts after one year -€22,676
down €22,676 (-43.3%), from €52,408 to €29,733
- Other debts +€21,408
new in 2025: €21,408
- Gross operating margin -€32,820
down €32,820, from €19,133 to -€13,688
- Depreciation -€19,171
down €19,171 (-66.8%), from €28,679 to €9,508
- Financial charges -€1,362
down €1,362 (-28.1%), from €4,847 to €3,485
- Other operating charges -€1,180
down €1,180 (-14.3%), from €8,238 to €7,059
- Financial income -€844
down €844 (-12.9%), from €6,516 to €5,673
of which Non-recurring financial income: -€1,590
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 | €287,265 | €127,137 | -€160,128 | -55.7% |
| Fixed assets | 21/28 | €107,000 | €17,567 | -€89,432 | -83.6% |
| Tangible fixed assets | 22/27 | €107,000 | €17,567 | -€89,432 | -83.6% |
| Land and buildings | 22 | €79,924 | - | -€79,924 | |
| Plant, machinery and equipment | 23 | €3,979 | €2,914 | -€1,065 | -26.8% |
| Furniture and vehicles | 24 | €23,097 | €14,653 | -€8,443 | -36.6% |
| Current assets | 29/58 | €180,265 | €109,569 | -€70,696 | -39.2% |
| Amounts receivable within one year | 40/41 | €78,373 | €90,263 | +€11,890 | +15.2% |
| Trade receivables | 40 | €346 | - | -€346 | |
| Other amounts receivable | 41 | €78,027 | €90,263 | +€12,236 | +15.7% |
| Cash at bank and in hand | 54/58 | €100,429 | €17,511 | -€82,917 | -82.6% |
| Deferred charges and accrued income | 490/1 | €1,463 | €1,795 | +€332 | +22.7% |
| Total equity and liabilities | 10/49 | €287,265 | €127,137 | -€160,128 | -55.7% |
| Equity | 10/15 | €188,505 | €53,310 | -€135,195 | -71.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €225,846 | €34,718 | -€191,128 | -84.6% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €85,442 | €32,859 | -€52,583 | -61.5% |
| Distributable reserves | 133 | €138,545 | - | -€138,545 | |
| Profit (loss) carried forward | 14 | -€55,933 | - | +€55,933 | |
| Provisions and deferred taxes | 16 | €3,669 | - | -€3,669 | |
| Deferred taxes | 168 | €3,669 | - | -€3,669 | |
| Amounts payable | 17/49 | €95,091 | €73,827 | -€21,264 | -22.4% |
| Amounts payable after more than one year | 17 | €52,408 | €29,733 | -€22,676 | -43.3% |
| Financial debts | 170/4 | €52,408 | €29,733 | -€22,676 | -43.3% |
| Amounts payable within one year | 42/48 | €42,683 | €44,094 | +€1,412 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €35,070 | €9,980 | -€25,090 | -71.5% |
| Trade debts | 44 | €2,139 | - | -€2,139 | |
| Suppliers | 440/4 | €2,139 | - | -€2,139 | |
| Advances received on contracts in progress | 46 | - | €371 | +€371 | |
| Taxes, remuneration and social security | 45 | €5,473 | €12,335 | +€6,862 | +125% |
| Taxes | 450/3 | €5,473 | €12,335 | +€6,862 | +125% |
| Other amounts payable | 47/48 | - | €21,408 | +€21,408 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,679 | €9,508 | -€19,171 | -66.8% |
| Other operating charges | 640/8 | €8,238 | €7,059 | -€1,180 | -14.3% |
| Non-recurring operating charges | 66A | - | €79,924 | +€79,924 | |
| Gross operating margin | 9900 | €19,133 | -€13,688 | -€32,820 | |
| Operating profit (loss) | 9901 | -€17,785 | -€110,179 | -€92,394 | -520% |
| Financial income | 75/76B | €6,516 | €5,673 | -€844 | -12.9% |
| Recurring financial income | 75 | €4,926 | €5,673 | +€747 | +15.2% |
| Non-recurring financial income | 76B | €1,590 | - | -€1,590 | |
| Financial charges | 65/66B | €4,847 | €3,485 | -€1,362 | -28.1% |
| Recurring financial charges | 65 | €4,847 | €3,485 | -€1,362 | -28.1% |
| Profit (loss) for the period before taxes | 9903 | -€16,115 | -€107,990 | -€91,875 | -570% |
| Transfer from deferred taxes | 780 | €1,199 | €3,669 | +€2,469 | +206% |
| Income taxes | 67/77 | €303 | €290 | -€13 | -4.3% |
| Profit (loss) for the period | 9904 | -€15,219 | -€104,612 | -€89,393 | -587% |
| Transfer from tax-exempt reserves | 789 | €2,328 | €52,583 | +€50,255 | +2,158% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,891 | -€52,028 | -€39,137 | -304% |
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 20 October 2026 via checked.be.