NOTAM: 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.
NOTAM
Largest movements
- Tangible fixed assets +€207,524
up €207,524 (+11.1%), from €1.9m to €2.1m
of which Land and buildings: +€209,625
- Receivables within one year -€32,789
down €32,789 (-49.4%), from €66,417 to €33,628
of which Other amounts receivable: -€37,314
- Other debts +€69,343
up €69,343 (+63.6%), from €109,072 to €178,414
- Revaluation surpluses +€44,500
up €44,500 (+187%), from €23,860 to €68,360
- Trade debts +€42,371
up €42,371 (+2,819%), from €1,503 to €43,874
- Profit (loss) carried forward +€38,691
up €38,691, from -€38,691 to €0
- Debts after one year -€37,133
down €37,133 (-3.4%), from €1.1m to €1.0m
- Depreciation -€90,494
down €90,494 (-54.7%), from €165,378 to €74,884
- Gross operating margin +€44,638
up €44,638 (+33.8%), from €131,934 to €176,573
- Financial charges +€21,514
up €21,514 (+142%), from €15,142 to €36,656
- Financial income -€13,792
down €13,792 (-92.2%), from €14,965 to €1,174
- Taxes +€9,607
up €9,607 (+1,960%), from €490 to €10,097
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,174,705 | €2,333,140 | +€158,435 | +7.3% |
| Fixed assets | 21/28 | €1,873,138 | €2,080,662 | +€207,524 | +11.1% |
| Tangible fixed assets | 22/27 | €1,873,138 | €2,080,662 | +€207,524 | +11.1% |
| Land and buildings | 22 | €1,824,301 | €2,033,926 | +€209,625 | +11.5% |
| Furniture and vehicles | 24 | €48,837 | €46,736 | -€2,101 | -4.3% |
| Current assets | 29/58 | €301,568 | €252,478 | -€49,089 | -16.3% |
| Amounts receivable within one year | 40/41 | €66,417 | €33,628 | -€32,789 | -49.4% |
| Trade receivables | 40 | €24,200 | €28,725 | +€4,525 | +18.7% |
| Other amounts receivable | 41 | €42,217 | €4,903 | -€37,314 | -88.4% |
| Current investments | 50/53 | €199,035 | €197,537 | -€1,498 | -0.8% |
| Cash at bank and in hand | 54/58 | €33,039 | €16,657 | -€16,382 | -49.6% |
| Deferred charges and accrued income | 490/1 | €3,077 | €4,656 | +€1,579 | +51.3% |
| Total equity and liabilities | 10/49 | €2,174,705 | €2,333,140 | +€158,435 | +7.3% |
| Equity | 10/15 | €922,490 | €1,018,075 | +€95,585 | +10.4% |
| Contributions | 10/11 | €111,500 | €111,500 | = | 0.0% |
| Revaluation surpluses | 12 | €23,860 | €68,360 | +€44,500 | +187% |
| Reserves | 13 | €825,821 | €838,214 | +€12,394 | +1.5% |
| Tax-exempt reserves | 132 | €33,857 | €33,857 | = | 0.0% |
| Distributable reserves | 133 | €791,964 | €804,357 | +€12,394 | +1.6% |
| Profit (loss) carried forward | 14 | -€38,691 | €0 | +€38,691 | |
| Amounts payable | 17/49 | €1,252,215 | €1,315,065 | +€62,850 | +5.0% |
| Amounts payable after more than one year | 17 | €1,083,945 | €1,046,812 | -€37,133 | -3.4% |
| Financial debts | 170/4 | €1,083,945 | €1,046,812 | -€37,133 | -3.4% |
| Amounts payable within one year | 42/48 | €162,021 | €267,255 | +€105,235 | +65.0% |
| Current portion of amounts payable after more than one year | 42 | €36,055 | €37,133 | +€1,078 | +3.0% |
| Trade debts | 44 | €1,503 | €43,874 | +€42,371 | +2,819% |
| Suppliers | 440/4 | €1,503 | €43,874 | +€42,371 | +2,819% |
| Taxes, remuneration and social security | 45 | €15,391 | €7,834 | -€7,558 | -49.1% |
| Taxes | 450/3 | €13,521 | €5,964 | -€7,558 | -55.9% |
| Remuneration and social security | 454/9 | €1,870 | €1,870 | = | 0.0% |
| Other amounts payable | 47/48 | €109,072 | €178,414 | +€69,343 | +63.6% |
| Accrued charges and deferred income | 492/3 | €6,250 | €998 | -€5,251 | -84.0% |
| Non-recurring operating income | 76A | - | €4,525 | +€4,525 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,378 | €74,884 | -€90,494 | -54.7% |
| Other operating charges | 640/8 | €6,410 | €5,025 | -€1,385 | -21.6% |
| Non-recurring operating charges | 66A | €1,669 | €0 | -€1,669 | -100% |
| Gross operating margin | 9900 | €131,934 | €176,573 | +€44,638 | +33.8% |
| Operating profit (loss) | 9901 | -€41,522 | €96,664 | +€138,186 | |
| Financial income | 75/76B | €14,965 | €1,174 | -€13,792 | -92.2% |
| Recurring financial income | 75 | €14,965 | €1,174 | -€13,792 | -92.2% |
| Financial charges | 65/66B | €15,142 | €36,656 | +€21,514 | +142% |
| Recurring financial charges | 65 | €15,142 | €36,656 | +€21,514 | +142% |
| Profit (loss) for the period before taxes | 9903 | -€41,699 | €61,181 | +€102,881 | |
| Income taxes | 67/77 | €490 | €10,097 | +€9,607 | +1,960% |
| Profit (loss) for the period | 9904 | -€42,190 | €51,084 | +€93,274 | |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,190 | €51,084 | +€93,274 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.