NOT.ED: 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.
NOT.ED
Largest movements
- Financial fixed assets +€20,832
up €20,832 (+63.1%), from €33,000 to €53,832
- Cash +€19,943
up €19,943 (+51.0%), from €39,122 to €59,066
mainly Net result for the year (+€42,411) and Trade debts (+€6,200)
- Tangible fixed assets +€8,170
up €8,170 (+564%), from €1,448 to €9,617
- Receivables within one year +€8,013
up €8,013 (+19.1%), from €42,060 to €50,073
of which Trade receivables: +€8,000
- Reserves +€42,400
up €42,400 (+44.1%), from €96,100 to €138,500
- Trade debts +€6,200
up €6,200 (+379%), from €1,635 to €7,835
- Other debts +€4,269
up €4,269 (+84.8%), from €5,034 to €9,304
- Tax, wage and social debts +€2,613
up €2,613 (+32.6%), from €8,013 to €10,626
- Gross operating margin +€3,558
up €3,558 (+6.3%), from €56,246 to €59,804
- Taxes +€1,213
up €1,213 (+7.4%), from €16,493 to €17,705
- Financial income +€1,174
up €1,174 (+97.5%), from €1,203 to €2,377
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 | €117,122 | €172,588 | +€55,466 | +47.4% |
| Fixed assets | 21/28 | €34,448 | €63,450 | +€29,002 | +84.2% |
| Tangible fixed assets | 22/27 | €1,448 | €9,617 | +€8,170 | +564% |
| Other tangible fixed assets | 26 | €1,448 | €9,617 | +€8,170 | +564% |
| Financial fixed assets | 28 | €33,000 | €53,832 | +€20,832 | +63.1% |
| Current assets | 29/58 | €82,675 | €109,139 | +€26,464 | +32.0% |
| Amounts receivable within one year | 40/41 | €42,060 | €50,073 | +€8,013 | +19.1% |
| Trade receivables | 40 | €42,000 | €50,000 | +€8,000 | +19.0% |
| Other amounts receivable | 41 | €60 | €73 | +€13 | +20.9% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €39,122 | €59,066 | +€19,943 | +51.0% |
| Deferred charges and accrued income | 490/1 | €1,492 | €0 | -€1,492 | -100% |
| Total equity and liabilities | 10/49 | €117,122 | €172,588 | +€55,466 | +47.4% |
| Equity | 10/15 | €97,333 | €139,744 | +€42,411 | +43.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €96,100 | €138,500 | +€42,400 | +44.1% |
| Distributable reserves | 133 | €96,100 | €138,500 | +€42,400 | +44.1% |
| Profit (loss) carried forward | 14 | €233 | €244 | +€11 | +4.8% |
| Amounts payable | 17/49 | €19,790 | €32,845 | +€13,055 | +66.0% |
| Amounts payable within one year | 42/48 | €19,790 | €32,845 | +€13,055 | +66.0% |
| Financial debts | 43 | €5,107 | €5,080 | -€28 | -0.5% |
| Credit institutions | 430/8 | €5,107 | €5,080 | -€28 | -0.5% |
| Trade debts | 44 | €1,635 | €7,835 | +€6,200 | +379% |
| Suppliers | 440/4 | €1,635 | €7,835 | +€6,200 | +379% |
| Taxes, remuneration and social security | 45 | €8,013 | €10,626 | +€2,613 | +32.6% |
| Taxes | 450/3 | €8,013 | €10,626 | +€2,613 | +32.6% |
| Other amounts payable | 47/48 | €5,034 | €9,304 | +€4,269 | +84.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211 | €422 | +€211 | +100% |
| Other operating charges | 640/8 | €1,064 | €1,089 | +€25 | +2.4% |
| Gross operating margin | 9900 | €56,246 | €59,804 | +€3,558 | +6.3% |
| Operating profit (loss) | 9901 | €54,971 | €58,293 | +€3,322 | +6.0% |
| Financial income | 75/76B | €1,203 | €2,377 | +€1,174 | +97.5% |
| Recurring financial income | 75 | €1,203 | €2,377 | +€1,174 | +97.5% |
| Financial charges | 65/66B | €606 | €554 | -€52 | -8.6% |
| Recurring financial charges | 65 | €606 | €554 | -€52 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €55,569 | €60,117 | +€4,548 | +8.2% |
| Income taxes | 67/77 | €16,493 | €17,705 | +€1,213 | +7.4% |
| Profit (loss) for the period | 9904 | €39,076 | €42,411 | +€3,335 | +8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,076 | €42,411 | +€3,335 | +8.5% |
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 15 October 2026 via checked.be.