NOMA: 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.
NOMA
Largest movements
- Stocks and contracts +€107,000
up €107,000 (+20.7%), from €516,000 to €623,000
- Receivables within one year -€70,184
down €70,184 (-73.5%), from €95,461 to €25,277
of which Trade receivables: -€63,571
- Tangible fixed assets -€48,625
down €48,625 (-4.8%), from €1.0m to €959,153
of which Furniture and vehicles: -€29,765
- Cash +€45,871
up €45,871 (+3,791%), from €1,210 to €47,081
mainly Depreciation (+€102,125) and Receivables within one year (+€70,184)
- Other debts -€96,700
down €96,700 (-85.2%), from €113,494 to €16,794
- Short-term financial debts +€50,000
new in 2025: €50,000
- Debts after one year +€48,145
up €48,145 (+25.5%), from €189,000 to €237,145
- Trade debts +€38,867
up €38,867 (+19.2%), from €202,121 to €240,988
- Profit (loss) carried forward +€25,646
up €25,646 (+61.5%), from -€41,708 to -€16,062
- Gross operating margin -€118,201
down €118,201 (-33.0%), from €357,915 to €239,714
- Staff costs -€65,943
down €65,943 (-51.6%), from €127,846 to €61,903
- Depreciation -€10,342
down €10,342 (-9.2%), from €112,467 to €102,125
- Taxes -€7,626
down €7,626 (-36.4%), from €20,954 to €13,328
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 | €1,631,821 | €1,669,690 | +€37,869 | +2.3% |
| Fixed assets | 21/28 | €1,007,801 | €962,026 | -€45,775 | -4.5% |
| Tangible fixed assets | 22/27 | €1,007,778 | €959,153 | -€48,625 | -4.8% |
| Land and buildings | 22 | €756,371 | €750,012 | -€6,359 | -0.8% |
| Plant, machinery and equipment | 23 | €44,481 | €31,980 | -€12,501 | -28.1% |
| Furniture and vehicles | 24 | €206,926 | €177,160 | -€29,765 | -14.4% |
| Financial fixed assets | 28 | €24 | €2,874 | +€2,850 | +12,102% |
| Current assets | 29/58 | €624,020 | €707,664 | +€83,644 | +13.4% |
| Stocks and contracts in progress | 3 | €516,000 | €623,000 | +€107,000 | +20.7% |
| Stocks | 30/36 | €516,000 | €623,000 | +€107,000 | +20.7% |
| Amounts receivable within one year | 40/41 | €95,461 | €25,277 | -€70,184 | -73.5% |
| Trade receivables | 40 | €70,995 | €7,424 | -€63,571 | -89.5% |
| Other amounts receivable | 41 | €24,465 | €17,853 | -€6,613 | -27.0% |
| Cash at bank and in hand | 54/58 | €1,210 | €47,081 | +€45,871 | +3,791% |
| Deferred charges and accrued income | 490/1 | €11,349 | €12,306 | +€957 | +8.4% |
| Total equity and liabilities | 10/49 | €1,631,821 | €1,669,690 | +€37,869 | +2.3% |
| Equity | 10/15 | €1,028,423 | €1,054,069 | +€25,646 | +2.5% |
| Contributions | 10/11 | €198,315 | €198,315 | = | 0.0% |
| Revaluation surpluses | 12 | €679,424 | €679,424 | = | 0.0% |
| Reserves | 13 | €192,392 | €192,392 | = | 0.0% |
| Tax-exempt reserves | 132 | €122,561 | €122,561 | = | 0.0% |
| Distributable reserves | 133 | €69,831 | €69,831 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,708 | -€16,062 | +€25,646 | +61.5% |
| Amounts payable | 17/49 | €603,398 | €615,621 | +€12,223 | +2.0% |
| Amounts payable after more than one year | 17 | €189,000 | €237,145 | +€48,145 | +25.5% |
| Financial debts | 170/4 | €189,000 | €237,145 | +€48,145 | +25.5% |
| Amounts payable within one year | 42/48 | €398,493 | €365,593 | -€32,900 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €59,856 | €39,489 | -€20,367 | -34.0% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €202,121 | €240,988 | +€38,867 | +19.2% |
| Suppliers | 440/4 | €202,121 | €240,988 | +€38,867 | +19.2% |
| Taxes, remuneration and social security | 45 | €23,022 | €18,322 | -€4,700 | -20.4% |
| Taxes | 450/3 | €13,021 | €10,976 | -€2,045 | -15.7% |
| Remuneration and social security | 454/9 | €10,001 | €7,346 | -€2,656 | -26.6% |
| Other amounts payable | 47/48 | €113,494 | €16,794 | -€96,700 | -85.2% |
| Accrued charges and deferred income | 492/3 | €15,905 | €12,883 | -€3,022 | -19.0% |
| Remuneration, social security and pensions | 62 | €127,846 | €61,903 | -€65,943 | -51.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,467 | €102,125 | -€10,342 | -9.2% |
| Other operating charges | 640/8 | €20,226 | €20,098 | -€128 | -0.6% |
| Gross operating margin | 9900 | €357,915 | €239,714 | -€118,201 | -33.0% |
| Operating profit (loss) | 9901 | €97,376 | €55,588 | -€41,788 | -42.9% |
| Financial income | 75/76B | €3,709 | €7,139 | +€3,430 | +92.5% |
| Recurring financial income | 75 | €3,709 | €7,139 | +€3,430 | +92.5% |
| Financial charges | 65/66B | €25,869 | €23,753 | -€2,116 | -8.2% |
| Recurring financial charges | 65 | €25,869 | €23,753 | -€2,116 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €75,217 | €38,974 | -€36,243 | -48.2% |
| Income taxes | 67/77 | €20,954 | €13,328 | -€7,626 | -36.4% |
| Profit (loss) for the period | 9904 | €54,263 | €25,646 | -€28,616 | -52.7% |
| Profit (loss) for the period to be appropriated | 9905 | €54,263 | €25,646 | -€28,616 | -52.7% |
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.