NOTAFLEX: 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.
NOTAFLEX
Largest movements
- Financial fixed assets +€2.0m
up €2.0m (+447%), from €439,157 to €2.4m
- Receivables within one year -€1.0m
down €1.0m (-70.7%), from €1.4m to €417,726
of which Other amounts receivable: -€984,490
- Receivables after one year -€735,000
no longer reported in 2025 (was €735,000)
- Tangible fixed assets -€515,289
down €515,289 (-26.8%), from €1.9m to €1.4m
of which Land and buildings: -€483,564
- Deferred charges and accrued income -€61,870
down €61,870 (-83.2%), from €74,347 to €12,477
- Debts after one year -€342,637
down €342,637 (-10.2%), from €3.4m to €3.0m
- Profit (loss) carried forward +€115,272
up €115,272 (+87.1%), from -€132,334 to -€17,063
- Short-term financial debts -€100,148
down €100,148 (-24.1%), from €415,307 to €315,159
- Gross operating margin +€171,886
up €171,886 (+73.8%), from €232,815 to €404,701
- Depreciation -€53,439
down €53,439 (-31.2%), from €171,209 to €117,769
- Other operating charges +€26,522
up €26,522 (+94.5%), from €28,078 to €54,600
- Financial charges +€15,633
up €15,633 (+12.8%), from €122,069 to €137,702
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 | €4,603,682 | €4,285,099 | -€318,583 | -6.9% |
| Fixed assets | 21/28 | €2,369,744 | €3,810,460 | +€1.4m | +60.8% |
| Intangible fixed assets | 21 | €6,703 | €1,314 | -€5,389 | -80.4% |
| Tangible fixed assets | 22/27 | €1,923,885 | €1,408,596 | -€515,289 | -26.8% |
| Land and buildings | 22 | €1,723,835 | €1,240,271 | -€483,564 | -28.1% |
| Furniture and vehicles | 24 | €9,765 | €5,920 | -€3,846 | -39.4% |
| Other tangible fixed assets | 26 | €190,285 | €162,405 | -€27,879 | -14.7% |
| Financial fixed assets | 28 | €439,157 | €2,400,550 | +€2.0m | +447% |
| Current assets | 29/58 | €2,233,937 | €474,638 | -€1.8m | -78.8% |
| Amounts receivable after more than one year | 29 | €735,000 | - | -€735,000 | |
| Other amounts receivable | 291 | €735,000 | - | -€735,000 | |
| Amounts receivable within one year | 40/41 | €1,423,748 | €417,726 | -€1.0m | -70.7% |
| Trade receivables | 40 | €32,710 | €11,179 | -€21,531 | -65.8% |
| Other amounts receivable | 41 | €1,391,038 | €406,548 | -€984,490 | -70.8% |
| Cash at bank and in hand | 54/58 | €842 | €44,435 | +€43,593 | +5,175% |
| Deferred charges and accrued income | 490/1 | €74,347 | €12,477 | -€61,870 | -83.2% |
| Total equity and liabilities | 10/49 | €4,603,682 | €4,285,099 | -€318,583 | -6.9% |
| Equity | 10/15 | €333,240 | €448,512 | +€115,272 | +34.6% |
| Contributions | 10/11 | €4,343 | €4,343 | = | 0.0% |
| Reserves | 13 | €461,231 | €461,231 | = | 0.0% |
| Distributable reserves | 133 | €461,231 | €461,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€132,334 | -€17,063 | +€115,272 | +87.1% |
| Amounts payable | 17/49 | €4,270,442 | €3,836,587 | -€433,855 | -10.2% |
| Amounts payable after more than one year | 17 | €3,365,619 | €3,022,982 | -€342,637 | -10.2% |
| Financial debts | 170/4 | €3,365,619 | €3,022,982 | -€342,637 | -10.2% |
| Amounts payable within one year | 42/48 | €871,451 | €798,245 | -€73,206 | -8.4% |
| Current portion of amounts payable after more than one year | 42 | €417,394 | €413,126 | -€4,268 | -1.0% |
| Financial debts | 43 | €415,307 | €315,159 | -€100,148 | -24.1% |
| Credit institutions | 430/8 | €415,307 | €315,159 | -€100,148 | -24.1% |
| Trade debts | 44 | €30,937 | €42,085 | +€11,148 | +36.0% |
| Suppliers | 440/4 | €30,937 | €42,085 | +€11,148 | +36.0% |
| Taxes, remuneration and social security | 45 | €7,113 | €27,175 | +€20,061 | +282% |
| Taxes | 450/3 | €7,113 | €27,175 | +€20,061 | +282% |
| Other amounts payable | 47/48 | €700 | €700 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €33,372 | €15,360 | -€18,012 | -54.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,209 | €117,769 | -€53,439 | -31.2% |
| Other operating charges | 640/8 | €28,078 | €54,600 | +€26,522 | +94.5% |
| Gross operating margin | 9900 | €232,815 | €404,701 | +€171,886 | +73.8% |
| Operating profit (loss) | 9901 | €33,528 | €232,331 | +€198,804 | +593% |
| Financial income | 75/76B | €21,596 | €22,834 | +€1,238 | +5.7% |
| Recurring financial income | 75 | €21,596 | €22,834 | +€1,238 | +5.7% |
| Financial charges | 65/66B | €122,069 | €137,702 | +€15,633 | +12.8% |
| Recurring financial charges | 65 | €122,069 | €137,702 | +€15,633 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | -€66,946 | €117,463 | +€184,409 | |
| Income taxes | 67/77 | €534 | €2,192 | +€1,658 | +310% |
| Profit (loss) for the period | 9904 | -€67,480 | €115,272 | +€182,751 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,480 | €115,272 | +€182,751 |
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 17 October 2026 via checked.be.