NOTABILIS: 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.
NOTABILIS
Largest movements
- Tangible fixed assets +€539,426
up €539,426 (+27.0%), from €2.0m to €2.5m
of which Land and buildings: +€479,698
- Cash -€133,307
down €133,307 (-92.5%), from €144,050 to €10,743
mainly Investment in fixed assets (net) (-€624,236) and Trade debts (-€103,304)
- Debts after one year +€394,648
up €394,648 (+19.1%), from €2.1m to €2.5m
- Trade debts -€103,304
down €103,304 (-61.9%), from €166,887 to €63,582
- Tax, wage and social debts +€84,385
up €84,385 (+755.4%), from €11,171 to €95,556
- Other debts -€60,000
no longer reported in 2025 (was €60,000)
- Current portion of long-term debt +€48,591
up €48,591 (+92.4%), from €52,599 to €101,190
- Gross operating margin +€59,642
up €59,642 (+33.4%), from €178,428 to €238,069
- Financial charges +€43,318
up €43,318 (+94.4%), from €45,876 to €89,194
- Taxes +€23,733
up €23,733 (+168.5%), from €14,088 to €37,821
- Depreciation +€17,608
up €17,608 (+26.2%), from €67,203 to €84,810
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 | €2,361,064 | €2,743,519 | +€382,455 | +16.2% |
| Fixed assets | 21/28 | €1,996,886 | €2,536,312 | +€539,426 | +27.0% |
| Tangible fixed assets | 22/27 | €1,996,886 | €2,536,312 | +€539,426 | +27.0% |
| Land and buildings | 22 | €1,989,928 | €2,469,626 | +€479,698 | +24.1% |
| Furniture and vehicles | 24 | €3,917 | €63,670 | +€59,753 | +1525.4% |
| Other tangible fixed assets | 26 | €3,041 | €3,015 | -€25 | -0.8% |
| Current assets | 29/58 | €364,178 | €207,208 | -€156,971 | -43.1% |
| Amounts receivable within one year | 40/41 | €212,687 | €195,082 | -€17,605 | -8.3% |
| Trade receivables | 40 | €145,581 | €19,985 | -€125,596 | -86.3% |
| Other amounts receivable | 41 | €67,106 | €175,097 | +€107,991 | +160.9% |
| Cash at bank and in hand | 54/58 | €144,050 | €10,743 | -€133,307 | -92.5% |
| Deferred charges and accrued income | 490/1 | €7,442 | €1,383 | -€6,059 | -81.4% |
| Total equity and liabilities | 10/49 | €2,361,064 | €2,743,519 | +€382,455 | +16.2% |
| Equity | 10/15 | €5,523 | €23,661 | +€18,138 | +328.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,523 | €21,661 | +€18,138 | +514.9% |
| Amounts payable | 17/49 | €2,355,541 | €2,719,858 | +€364,317 | +15.5% |
| Amounts payable after more than one year | 17 | €2,064,790 | €2,459,438 | +€394,648 | +19.1% |
| Financial debts | 170/4 | €2,064,790 | €2,459,438 | +€394,648 | +19.1% |
| Amounts payable within one year | 42/48 | €290,656 | €260,328 | -€30,328 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €52,599 | €101,190 | +€48,591 | +92.4% |
| Trade debts | 44 | €166,887 | €63,582 | -€103,304 | -61.9% |
| Suppliers | 440/4 | €166,887 | €63,582 | -€103,304 | -61.9% |
| Taxes, remuneration and social security | 45 | €11,171 | €95,556 | +€84,385 | +755.4% |
| Taxes | 450/3 | €11,171 | €95,556 | +€84,385 | +755.4% |
| Other amounts payable | 47/48 | €60,000 | - | -€60,000 | |
| Accrued charges and deferred income | 492/3 | €95 | €92 | -€3 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,203 | €84,810 | +€17,608 | +26.2% |
| Other operating charges | 640/8 | €12,649 | €13,492 | +€843 | +6.7% |
| Gross operating margin | 9900 | €178,428 | €238,069 | +€59,642 | +33.4% |
| Operating profit (loss) | 9901 | €98,576 | €139,767 | +€41,191 | +41.8% |
| Financial income | 75/76B | €3,126 | €5,386 | +€2,260 | +72.3% |
| Recurring financial income | 75 | €3,126 | €5,386 | +€2,260 | +72.3% |
| Financial charges | 65/66B | €45,876 | €89,194 | +€43,318 | +94.4% |
| Recurring financial charges | 65 | €45,876 | €89,194 | +€43,318 | +94.4% |
| Profit (loss) for the period before taxes | 9903 | €55,826 | €55,959 | +€133 | +0.2% |
| Income taxes | 67/77 | €14,088 | €37,821 | +€23,733 | +168.5% |
| Profit (loss) for the period | 9904 | €41,738 | €18,138 | -€23,600 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,738 | €18,138 | -€23,600 | -56.5% |
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 9 October 2026 via checked.be.