NOSTEX: 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.
NOSTEX
Largest movements
- Stocks and contracts +€24,450
up €24,450 (+1.9%), from €1.3m to €1.3m
- Cash -€18,439
down €18,439 (-47.6%), from €38,737 to €20,298
mainly Advances received (-€74,525) and Net result for the year (-€61,882)
- Debts after one year +€143,823
up €143,823 (+55.3%), from €260,000 to €403,823
- Advances received -€74,525
no longer reported in 2025 (was €74,525)
- Profit (loss) carried forward -€61,882
down €61,882 (-8.2%), from €759,265 to €697,384
- Trade debts -€23,198
down €23,198 (-21.4%), from €108,263 to €85,065
- Tax, wage and social debts +€22,371
up €22,371 (+46.7%), from €47,883 to €70,255
of which Taxes: +€13,098
- Gross operating margin -€31,771
down €31,771 (-7.7%), from €414,886 to €383,115
- Staff costs +€27,179
up €27,179 (+7.7%), from €352,323 to €379,502
- Other operating charges +€14,187
up €14,187 (+95.8%), from €14,814 to €29,001
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 | €1,566,547 | €1,596,425 | +€29,878 | +1.9% |
| Formation expenses | 20 | €2,435 | €2,435 | = | 0.0% |
| Fixed assets | 21/28 | €78,547 | €81,423 | +€2,876 | +3.7% |
| Tangible fixed assets | 22/27 | €75,439 | €78,240 | +€2,801 | +3.7% |
| Land and buildings | 22 | €14,874 | €13,014 | -€1,859 | -12.5% |
| Plant, machinery and equipment | 23 | €44,582 | €52,956 | +€8,374 | +18.8% |
| Furniture and vehicles | 24 | €15,984 | €12,270 | -€3,714 | -23.2% |
| Financial fixed assets | 28 | €3,107 | €3,182 | +€75 | +2.4% |
| Current assets | 29/58 | €1,485,564 | €1,512,567 | +€27,002 | +1.8% |
| Stocks and contracts in progress | 3 | €1,279,575 | €1,304,025 | +€24,450 | +1.9% |
| Stocks | 30/36 | €1,279,575 | €1,304,025 | +€24,450 | +1.9% |
| Amounts receivable within one year | 40/41 | €146,682 | €152,008 | +€5,326 | +3.6% |
| Trade receivables | 40 | €126,282 | €129,601 | +€3,320 | +2.6% |
| Other amounts receivable | 41 | €20,400 | €22,406 | +€2,006 | +9.8% |
| Cash at bank and in hand | 54/58 | €38,737 | €20,298 | -€18,439 | -47.6% |
| Deferred charges and accrued income | 490/1 | €20,571 | €36,236 | +€15,665 | +76.2% |
| Total equity and liabilities | 10/49 | €1,566,547 | €1,596,425 | +€29,878 | +1.9% |
| Equity | 10/15 | €1,046,195 | €984,313 | -€61,882 | -5.9% |
| Contributions | 10/11 | €204,016 | €204,016 | = | 0.0% |
| Capital | 10 | €204,016 | €204,016 | = | 0.0% |
| Issued capital | 100 | €204,016 | €204,016 | = | 0.0% |
| Reserves | 13 | €82,913 | €82,913 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,402 | €20,402 | = | 0.0% |
| Legal reserve | 130 | €20,402 | €20,402 | = | 0.0% |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €6,262 | €6,262 | = | 0.0% |
| Profit (loss) carried forward | 14 | €759,265 | €697,384 | -€61,882 | -8.2% |
| Amounts payable | 17/49 | €520,352 | €612,111 | +€91,760 | +17.6% |
| Amounts payable after more than one year | 17 | €260,000 | €403,823 | +€143,823 | +55.3% |
| Other amounts payable | 178/9 | €260,000 | €403,823 | +€143,823 | +55.3% |
| Amounts payable within one year | 42/48 | €260,352 | €208,289 | -€52,063 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €26,218 | €37,931 | +€11,713 | +44.7% |
| Trade debts | 44 | €108,263 | €85,065 | -€23,198 | -21.4% |
| Suppliers | 440/4 | €108,263 | €85,065 | -€23,198 | -21.4% |
| Advances received on contracts in progress | 46 | €74,525 | - | -€74,525 | |
| Taxes, remuneration and social security | 45 | €47,883 | €70,255 | +€22,371 | +46.7% |
| Taxes | 450/3 | €17,879 | €30,977 | +€13,098 | +73.3% |
| Remuneration and social security | 454/9 | €30,004 | €39,277 | +€9,273 | +30.9% |
| Other amounts payable | 47/48 | €3,463 | €15,038 | +€11,575 | +334.3% |
| Remuneration, social security and pensions | 62 | €352,323 | €379,502 | +€27,179 | +7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,985 | €30,979 | -€2,006 | -6.1% |
| Other operating charges | 640/8 | €14,814 | €29,001 | +€14,187 | +95.8% |
| Gross operating margin | 9900 | €414,886 | €383,115 | -€31,771 | -7.7% |
| Operating profit (loss) | 9901 | €14,763 | -€56,368 | -€71,131 | |
| Financial income | 75/76B | €638 | €432 | -€206 | -32.3% |
| Recurring financial income | 75 | €638 | €432 | -€206 | -32.3% |
| Financial charges | 65/66B | €6,563 | €6,733 | +€170 | +2.6% |
| Recurring financial charges | 65 | €6,563 | €6,733 | +€170 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €8,839 | -€62,669 | -€71,508 | |
| Income taxes | 67/77 | €288 | -€787 | -€1,074 | |
| Profit (loss) for the period | 9904 | €8,552 | -€61,882 | -€70,433 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,552 | -€61,882 | -€70,433 |
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 11 October 2026 via checked.be.