NOTALO: 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.
NOTALO
Largest movements
- Cash +€42,862
up €42,862 (+116%), from €36,967 to €79,828
mainly Net result for the year (+€149,096) and Tax, wage and social debts (+€26,982)
- Tangible fixed assets -€22,062
down €22,062 (-2.2%), from €998,401 to €976,339
of which Other tangible fixed assets: -€861,488
- Reserves +€149,096
up €149,096 (+1,488%), from €10,022 to €159,118
- Debts after one year -€128,438
down €128,438 (-14.3%), from €898,438 to €770,000
- Other debts -€34,594
down €34,594 (-39.9%), from €86,629 to €52,035
- Tax, wage and social debts +€26,982
up €26,982 (+412%), from €6,545 to €33,526
of which Taxes: +€26,982
- Current portion of long-term debt +€14,438
up €14,438 (+67.0%), from €21,563 to €36,000
- Gross operating margin +€116,417
up €116,417 (+138%), from €84,184 to €200,602
- Financial charges -€57,850
down €57,850, from €53,365 to -€4,486
- Taxes +€27,526
new in 2025: €27,526
- Depreciation +€10,267
up €10,267 (+62.2%), from €16,497 to €26,764
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 | €1,046,348 | €1,067,322 | +€20,974 | +2.0% |
| Fixed assets | 21/28 | €998,401 | €976,339 | -€22,062 | -2.2% |
| Tangible fixed assets | 22/27 | €998,401 | €976,339 | -€22,062 | -2.2% |
| Land and buildings | 22 | €129,600 | €976,339 | +€846,739 | +653% |
| Other tangible fixed assets | 26 | €861,488 | €0 | -€861,488 | -100% |
| Assets under construction and advance payments | 27 | €7,314 | €0 | -€7,314 | -100% |
| Current assets | 29/58 | €47,947 | €90,983 | +€43,036 | +89.8% |
| Amounts receivable within one year | 40/41 | €8,850 | €9,100 | +€250 | +2.8% |
| Trade receivables | 40 | €8,850 | €9,000 | +€150 | +1.7% |
| Other amounts receivable | 41 | €0 | €100 | +€100 | |
| Cash at bank and in hand | 54/58 | €36,967 | €79,828 | +€42,862 | +116% |
| Deferred charges and accrued income | 490/1 | €2,131 | €2,055 | -€76 | -3.5% |
| Total equity and liabilities | 10/49 | €1,046,348 | €1,067,322 | +€20,974 | +2.0% |
| Equity | 10/15 | €20,022 | €169,118 | +€149,096 | +745% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €10,022 | €159,118 | +€149,096 | +1,488% |
| Distributable reserves | 133 | €10,022 | €159,118 | +€149,096 | +1,488% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,026,326 | €898,205 | -€128,122 | -12.5% |
| Amounts payable after more than one year | 17 | €898,438 | €770,000 | -€128,438 | -14.3% |
| Financial debts | 170/4 | €898,438 | €770,000 | -€128,438 | -14.3% |
| Amounts payable within one year | 42/48 | €122,050 | €121,818 | -€232 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €21,563 | €36,000 | +€14,438 | +67.0% |
| Trade debts | 44 | €7,314 | €256 | -€7,057 | -96.5% |
| Suppliers | 440/4 | €7,314 | €256 | -€7,057 | -96.5% |
| Taxes, remuneration and social security | 45 | €6,545 | €33,526 | +€26,982 | +412% |
| Taxes | 450/3 | €3,995 | €30,976 | +€26,982 | +675% |
| Remuneration and social security | 454/9 | €2,550 | €2,550 | = | 0.0% |
| Other amounts payable | 47/48 | €86,629 | €52,035 | -€34,594 | -39.9% |
| Accrued charges and deferred income | 492/3 | €5,839 | €6,386 | +€548 | +9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,497 | €26,764 | +€10,267 | +62.2% |
| Other operating charges | 640/8 | €1,201 | €1,702 | +€501 | +41.7% |
| Gross operating margin | 9900 | €84,184 | €200,602 | +€116,417 | +138% |
| Operating profit (loss) | 9901 | €66,487 | €172,136 | +€105,650 | +159% |
| Financial income | 75/76B | €29 | €0 | -€29 | -100% |
| Recurring financial income | 75 | €29 | €0 | -€29 | -100% |
| Financial charges | 65/66B | €53,365 | -€4,486 | -€57,850 | |
| Recurring financial charges | 65 | €53,365 | -€4,486 | -€57,850 | |
| Profit (loss) for the period before taxes | 9903 | €13,151 | €176,622 | +€163,471 | +1,243% |
| Income taxes | 67/77 | - | €27,526 | +€27,526 | |
| Profit (loss) for the period | 9904 | €13,151 | €149,096 | +€135,945 | +1,034% |
| Profit (loss) for the period to be appropriated | 9905 | €13,151 | €149,096 | +€135,945 | +1,034% |
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 14 October 2026 via checked.be.