NOTAKX: 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.
NOTAKX
Largest movements
- Receivables after one year +€280,552
up €280,552 (+156.6%), from €179,156 to €459,708
- Receivables within one year -€209,128
down €209,128 (-46.5%), from €449,695 to €240,567
of which Other amounts receivable: -€207,585
- Current investments -€52,601
down €52,601 (-3.1%), from €1.7m to €1.6m
- Cash -€45,095
down €45,095 (-10.1%), from €446,538 to €401,443
mainly Contributions, distributions and other (-€1.4m) and Receivables after one year (-€280,552)
- Reserves -€1.1m
down €1.1m (-40.9%), from €2.7m to €1.6m
- Debts after one year +€906,065
new in 2025: €906,065
- Current portion of long-term debt +€80,750
up €80,750 (+2535.1%), from €3,185 to €83,935
- Other debts +€49,033
new in 2025: €49,033
- Gross operating margin -€215,011
down €215,011 (-35.1%), from €612,481 to €397,470
- Financial income -€94,591
down €94,591 (-60.6%), from €156,087 to €61,496
- Taxes -€93,322
down €93,322 (-44.1%), from €211,550 to €118,228
- Financial charges +€48,073
up €48,073 (+1584.0%), from €3,035 to €51,108
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 | €2,821,543 | €2,781,280 | -€40,263 | -1.4% |
| Fixed assets | 21/28 | €38,280 | €18,742 | -€19,538 | -51.0% |
| Tangible fixed assets | 22/27 | €38,280 | €18,742 | -€19,538 | -51.0% |
| Furniture and vehicles | 24 | €38,280 | €18,742 | -€19,538 | -51.0% |
| Current assets | 29/58 | €2,783,263 | €2,762,537 | -€20,725 | -0.7% |
| Amounts receivable after more than one year | 29 | €179,156 | €459,708 | +€280,552 | +156.6% |
| Other amounts receivable | 291 | €179,156 | €459,708 | +€280,552 | +156.6% |
| Amounts receivable within one year | 40/41 | €449,695 | €240,567 | -€209,128 | -46.5% |
| Trade receivables | 40 | €3,191 | €1,649 | -€1,543 | -48.3% |
| Other amounts receivable | 41 | €446,503 | €238,918 | -€207,585 | -46.5% |
| Current investments | 50/53 | €1,694,878 | €1,642,277 | -€52,601 | -3.1% |
| Cash at bank and in hand | 54/58 | €446,538 | €401,443 | -€45,095 | -10.1% |
| Deferred charges and accrued income | 490/1 | €12,995 | €18,542 | +€5,547 | +42.7% |
| Total equity and liabilities | 10/49 | €2,821,543 | €2,781,280 | -€40,263 | -1.4% |
| Equity | 10/15 | €2,732,621 | €1,621,359 | -€1.1m | -40.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,720,221 | €1,608,959 | -€1.1m | -40.9% |
| Distributable reserves | 133 | €2,720,221 | €1,608,959 | -€1.1m | -40.9% |
| Amounts payable | 17/49 | €88,922 | €1,159,921 | +€1.1m | +1204.4% |
| Amounts payable after more than one year | 17 | - | €906,065 | +€906,065 | |
| Financial debts | 170/4 | - | €906,065 | +€906,065 | |
| Amounts payable within one year | 42/48 | €83,473 | €249,385 | +€165,912 | +198.8% |
| Current portion of amounts payable after more than one year | 42 | €3,185 | €83,935 | +€80,750 | +2535.1% |
| Trade debts | 44 | €4,734 | €13,878 | +€9,144 | +193.2% |
| Suppliers | 440/4 | €4,734 | €13,878 | +€9,144 | +193.2% |
| Taxes, remuneration and social security | 45 | €75,554 | €102,539 | +€26,985 | +35.7% |
| Taxes | 450/3 | €75,373 | €102,539 | +€27,167 | +36.0% |
| Remuneration and social security | 454/9 | €182 | - | -€182 | |
| Other amounts payable | 47/48 | - | €49,033 | +€49,033 | |
| Accrued charges and deferred income | 492/3 | €5,449 | €4,471 | -€978 | -17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,588 | €22,757 | +€169 | +0.7% |
| Other operating charges | 640/8 | €6,175 | €3,136 | -€3,039 | -49.2% |
| Gross operating margin | 9900 | €612,481 | €397,470 | -€215,011 | -35.1% |
| Operating profit (loss) | 9901 | €583,718 | €371,577 | -€212,141 | -36.3% |
| Financial income | 75/76B | €156,087 | €61,496 | -€94,591 | -60.6% |
| Recurring financial income | 75 | €156,087 | €61,496 | -€94,591 | -60.6% |
| Financial charges | 65/66B | €3,035 | €51,108 | +€48,073 | +1584.0% |
| Recurring financial charges | 65 | €3,035 | €51,108 | +€48,073 | +1584.0% |
| Profit (loss) for the period before taxes | 9903 | €736,771 | €381,966 | -€354,805 | -48.2% |
| Income taxes | 67/77 | €211,550 | €118,228 | -€93,322 | -44.1% |
| Profit (loss) for the period | 9904 | €525,221 | €263,738 | -€261,483 | -49.8% |
| Profit (loss) for the period to be appropriated | 9905 | €525,221 | €263,738 | -€261,483 | -49.8% |
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.