NOT-R: 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-R
Largest movements
- Receivables within one year +€201,354
up €201,354 (+4,435%), from €4,540 to €205,895
of which Trade receivables: +€202,404
- Receivables after one year -€75,000
down €75,000 (-42.9%), from €175,000 to €100,000
- Tangible fixed assets +€42,061
up €42,061 (+7.5%), from €560,378 to €602,439
of which Plant, machinery and equipment: +€53,473
- Other debts +€124,523
up €124,523 (+36.2%), from €344,347 to €468,870
- Tax, wage and social debts +€40,376
up €40,376 (+192%), from €21,038 to €61,414
- Debts after one year -€22,945
down €22,945 (-6.1%), from €374,260 to €351,315
- Trade debts +€15,472
up €15,472 (+200%), from €7,738 to €23,210
- Gross operating margin +€334,310
up €334,310 (+97.6%), from €342,409 to €676,720
- Taxes +€83,069
up €83,069 (+113%), from €73,460 to €156,529
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 | €792,817 | €950,550 | +€157,733 | +19.9% |
| Fixed assets | 21/28 | €560,378 | €602,439 | +€42,061 | +7.5% |
| Tangible fixed assets | 22/27 | €560,378 | €602,439 | +€42,061 | +7.5% |
| Land and buildings | 22 | €400,769 | €391,303 | -€9,465 | -2.4% |
| Plant, machinery and equipment | 23 | €144,959 | €198,432 | +€53,473 | +36.9% |
| Furniture and vehicles | 24 | €5,350 | €3,404 | -€1,947 | -36.4% |
| Other tangible fixed assets | 26 | €9,300 | €9,300 | = | 0.0% |
| Current assets | 29/58 | €232,439 | €348,111 | +€115,672 | +49.8% |
| Amounts receivable after more than one year | 29 | €175,000 | €100,000 | -€75,000 | -42.9% |
| Other amounts receivable | 291 | €175,000 | €100,000 | -€75,000 | -42.9% |
| Amounts receivable within one year | 40/41 | €4,540 | €205,895 | +€201,354 | +4,435% |
| Trade receivables | 40 | - | €202,404 | +€202,404 | |
| Other amounts receivable | 41 | €4,540 | €3,491 | -€1,049 | -23.1% |
| Cash at bank and in hand | 54/58 | €46,105 | €41,825 | -€4,280 | -9.3% |
| Deferred charges and accrued income | 490/1 | €6,794 | €392 | -€6,402 | -94.2% |
| Total equity and liabilities | 10/49 | €792,817 | €950,550 | +€157,733 | +19.9% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €772,357 | €930,090 | +€157,733 | +20.4% |
| Amounts payable after more than one year | 17 | €374,260 | €351,315 | -€22,945 | -6.1% |
| Financial debts | 170/4 | €374,260 | €351,315 | -€22,945 | -6.1% |
| Amounts payable within one year | 42/48 | €397,634 | €578,337 | +€180,704 | +45.4% |
| Current portion of amounts payable after more than one year | 42 | €24,510 | €24,843 | +€333 | +1.4% |
| Trade debts | 44 | €7,738 | €23,210 | +€15,472 | +200% |
| Suppliers | 440/4 | €7,738 | €23,210 | +€15,472 | +200% |
| Taxes, remuneration and social security | 45 | €21,038 | €61,414 | +€40,376 | +192% |
| Taxes | 450/3 | €21,038 | €61,414 | +€40,376 | +192% |
| Other amounts payable | 47/48 | €344,347 | €468,870 | +€124,523 | +36.2% |
| Accrued charges and deferred income | 492/3 | €464 | €437 | -€26 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,365 | €22,770 | +€2,405 | +11.8% |
| Other operating charges | 640/8 | €2,301 | €1,648 | -€653 | -28.4% |
| Gross operating margin | 9900 | €342,409 | €676,720 | +€334,310 | +97.6% |
| Operating profit (loss) | 9901 | €319,743 | €652,302 | +€332,559 | +104% |
| Financial income | 75/76B | €2,239 | €1,884 | -€355 | -15.8% |
| Recurring financial income | 75 | €2,239 | €1,884 | -€355 | -15.8% |
| Financial charges | 65/66B | €10,010 | €8,877 | -€1,133 | -11.3% |
| Recurring financial charges | 65 | €10,010 | €8,877 | -€1,133 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €311,972 | €645,309 | +€333,337 | +107% |
| Income taxes | 67/77 | €73,460 | €156,529 | +€83,069 | +113% |
| Profit (loss) for the period | 9904 | €238,512 | €488,780 | +€250,268 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €238,512 | €488,780 | +€250,268 | +105% |
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 13 October 2026 via checked.be.