NOP: 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.
NOP
Largest movements
- Receivables within one year -€31,360
down €31,360 (-45.7%), from €68,602 to €37,242
of which Other amounts receivable: -€32,525
- Cash +€15,497
up €15,497 (+304%), from €5,099 to €20,596
mainly Current portion of long-term debt (+€119,081) and Receivables within one year (+€31,360)
- Current portion of long-term debt +€119,081
up €119,081 (+140%), from €84,861 to €203,942
- Debts after one year -€84,975
down €84,975 (-16.6%), from €512,364 to €427,390
- Other debts -€32,002
down €32,002 (-29.4%), from €108,690 to €76,688
- Trade debts -€20,866
down €20,866 (-59.6%), from €35,012 to €14,146
- Gross operating margin +€12,596
up €12,596 (+101%), from €12,515 to €25,112
- Financial charges +€4,080
up €4,080 (+24.9%), from €16,382 to €20,462
- Financial income -€1,779
down €1,779 (-41.3%), from €4,308 to €2,529
- Taxes +€1,050
up €1,050 (+607%), from €173 to €1,223
- Other operating charges +€831
up €831 (+164%), from €505 to €1,336
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 | €1,004,014 | €996,401 | -€7,613 | -0.8% |
| Fixed assets | 21/28 | €930,301 | €937,346 | +€7,044 | +0.8% |
| Tangible fixed assets | 22/27 | €930,301 | €937,346 | +€7,044 | +0.8% |
| Land and buildings | 22 | €294,000 | €294,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €418 | €256 | -€163 | -38.9% |
| Assets under construction and advance payments | 27 | €635,883 | €643,090 | +€7,207 | +1.1% |
| Current assets | 29/58 | €73,713 | €59,056 | -€14,657 | -19.9% |
| Amounts receivable within one year | 40/41 | €68,602 | €37,242 | -€31,360 | -45.7% |
| Trade receivables | 40 | €0 | €1,166 | +€1,166 | |
| Other amounts receivable | 41 | €68,602 | €36,077 | -€32,525 | -47.4% |
| Cash at bank and in hand | 54/58 | €5,099 | €20,596 | +€15,497 | +304% |
| Deferred charges and accrued income | 490/1 | €12 | €1,217 | +€1,205 | +9,788% |
| Total equity and liabilities | 10/49 | €1,004,014 | €996,401 | -€7,613 | -0.8% |
| Equity | 10/15 | €191,014 | €195,470 | +€4,456 | +2.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €276,183 | €276,183 | = | 0.0% |
| Tax-exempt reserves | 132 | €261,683 | €261,683 | = | 0.0% |
| Distributable reserves | 133 | €14,500 | €14,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,168 | -€100,713 | +€4,456 | +4.2% |
| Provisions and deferred taxes | 16 | €65,421 | €65,421 | = | 0.0% |
| Deferred taxes | 168 | €65,421 | €65,421 | = | 0.0% |
| Amounts payable | 17/49 | €747,580 | €735,511 | -€12,069 | -1.6% |
| Amounts payable after more than one year | 17 | €512,364 | €427,390 | -€84,975 | -16.6% |
| Financial debts | 170/4 | €512,364 | €427,390 | -€84,975 | -16.6% |
| Amounts payable within one year | 42/48 | €234,821 | €303,634 | +€68,813 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €84,861 | €203,942 | +€119,081 | +140% |
| Trade debts | 44 | €35,012 | €14,146 | -€20,866 | -59.6% |
| Suppliers | 440/4 | €35,012 | €14,146 | -€20,866 | -59.6% |
| Taxes, remuneration and social security | 45 | €6,257 | €8,857 | +€2,600 | +41.5% |
| Taxes | 450/3 | €6,257 | €7,777 | +€1,520 | +24.3% |
| Remuneration and social security | 454/9 | - | €1,080 | +€1,080 | |
| Other amounts payable | 47/48 | €108,690 | €76,688 | -€32,002 | -29.4% |
| Accrued charges and deferred income | 492/3 | €395 | €4,488 | +€4,093 | +1,037% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €163 | €163 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €1,336 | +€831 | +164% |
| Gross operating margin | 9900 | €12,515 | €25,112 | +€12,596 | +101% |
| Operating profit (loss) | 9901 | €11,847 | €23,612 | +€11,765 | +99.3% |
| Financial income | 75/76B | €4,308 | €2,529 | -€1,779 | -41.3% |
| Recurring financial income | 75 | €4,308 | €2,529 | -€1,779 | -41.3% |
| Financial charges | 65/66B | €16,382 | €20,462 | +€4,080 | +24.9% |
| Recurring financial charges | 65 | €16,382 | €20,462 | +€4,080 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | -€228 | €5,679 | +€5,906 | |
| Income taxes | 67/77 | €173 | €1,223 | +€1,050 | +607% |
| Profit (loss) for the period | 9904 | -€401 | €4,456 | +€4,856 | |
| Profit (loss) for the period to be appropriated | 9905 | -€401 | €4,456 | +€4,856 |
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.