NOSELE: 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.
NOSELE
Largest movements
- Receivables within one year +€93,728
up €93,728 (+47.8%), from €196,152 to €289,880
of which Other amounts receivable: +€83,249
- Cash -€34,196
down €34,196 (-55.9%), from €61,173 to €26,977
mainly Receivables within one year (-€93,728) and Tax, wage and social debts (-€51,720)
- Tangible fixed assets -€18,288
down €18,288 (-28.2%), from €64,892 to €46,604
of which Furniture and vehicles: -€13,884
- Reserves +€89,095
up €89,095 (+54.8%), from €162,484 to €251,579
- Tax, wage and social debts -€51,720
down €51,720 (-73.2%), from €70,638 to €18,918
of which Taxes: -€52,272
- Trade debts +€21,833
up €21,833 (+1506.8%), from €1,449 to €23,282
- Other debts -€21,700
no longer reported in 2025 (was €21,700)
- Current portion of long-term debt +€19,644
up €19,644 (+101.7%), from €19,320 to €38,964
- Financial income +€3,942
up €3,942 (+78.0%), from €5,055 to €8,997
- Depreciation +€3,663
up €3,663 (+21.7%), from €16,878 to €20,541
- Gross operating margin +€3,037
up €3,037 (+1.5%), from €203,248 to €206,285
- Staff costs +€2,120
up €2,120 (+3.9%), from €54,263 to €56,383
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.
Cash bridge derived
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 | €323,809 | €364,582 | +€40,773 | +12.6% |
| Fixed assets | 21/28 | €64,892 | €46,604 | -€18,288 | -28.2% |
| Tangible fixed assets | 22/27 | €64,892 | €46,604 | -€18,288 | -28.2% |
| Plant, machinery and equipment | 23 | €5,545 | €1,140 | -€4,405 | -79.4% |
| Furniture and vehicles | 24 | €59,347 | €45,463 | -€13,884 | -23.4% |
| Current assets | 29/58 | €258,917 | €317,978 | +€59,061 | +22.8% |
| Amounts receivable within one year | 40/41 | €196,152 | €289,880 | +€93,728 | +47.8% |
| Trade receivables | 40 | €89,328 | €99,807 | +€10,479 | +11.7% |
| Other amounts receivable | 41 | €106,824 | €190,073 | +€83,249 | +77.9% |
| Cash at bank and in hand | 54/58 | €61,173 | €26,977 | -€34,196 | -55.9% |
| Deferred charges and accrued income | 490/1 | €1,592 | €1,122 | -€470 | -29.5% |
| Total equity and liabilities | 10/49 | €323,809 | €364,582 | +€40,773 | +12.6% |
| Equity | 10/15 | €174,884 | €263,979 | +€89,095 | +50.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €162,484 | €251,579 | +€89,095 | +54.8% |
| Distributable reserves | 133 | €162,484 | €251,579 | +€89,095 | +54.8% |
| Amounts payable | 17/49 | €148,925 | €100,603 | -€48,322 | -32.4% |
| Amounts payable after more than one year | 17 | €35,818 | €19,438 | -€16,380 | -45.7% |
| Financial debts | 170/4 | €35,818 | €19,438 | -€16,380 | -45.7% |
| Amounts payable within one year | 42/48 | €113,107 | €81,165 | -€31,942 | -28.2% |
| Current portion of amounts payable after more than one year | 42 | €19,320 | €38,964 | +€19,644 | +101.7% |
| Trade debts | 44 | €1,449 | €23,282 | +€21,833 | +1506.8% |
| Suppliers | 440/4 | €1,449 | €23,282 | +€21,833 | +1506.8% |
| Taxes, remuneration and social security | 45 | €70,638 | €18,918 | -€51,720 | -73.2% |
| Taxes | 450/3 | €62,237 | €9,965 | -€52,272 | -84.0% |
| Remuneration and social security | 454/9 | €8,401 | €8,953 | +€552 | +6.6% |
| Other amounts payable | 47/48 | €21,700 | - | -€21,700 | |
| Non-recurring operating income | 76A | €425 | - | -€425 | |
| Remuneration, social security and pensions | 62 | €54,263 | €56,383 | +€2,120 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,878 | €20,541 | +€3,663 | +21.7% |
| Other operating charges | 640/8 | €3,379 | €4,374 | +€995 | +29.4% |
| Gross operating margin | 9900 | €203,248 | €206,285 | +€3,037 | +1.5% |
| Operating profit (loss) | 9901 | €128,728 | €124,987 | -€3,741 | -2.9% |
| Financial income | 75/76B | €5,055 | €8,997 | +€3,942 | +78.0% |
| Recurring financial income | 75 | €5,055 | €8,997 | +€3,942 | +78.0% |
| Financial charges | 65/66B | €3,963 | €4,923 | +€960 | +24.2% |
| Recurring financial charges | 65 | €3,963 | €4,923 | +€960 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €129,820 | €129,060 | -€760 | -0.6% |
| Income taxes | 67/77 | €38,492 | €39,965 | +€1,473 | +3.8% |
| Profit (loss) for the period | 9904 | €91,328 | €89,095 | -€2,233 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,328 | €89,095 | -€2,233 | -2.4% |
Source: filed annual accounts (NBB), financial years ended 1 April 2024 and 1 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.