NOTANGE: 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.
NOTANGE
Largest movements
- Tangible fixed assets +€116,795
up €116,795 (+82.4%), from €141,799 to €258,594
of which Assets under construction and advance payments: +€130,937
- Cash -€12,493
down €12,493 (-17.2%), from €72,658 to €60,165
mainly Contributions, distributions and other (-€257,685) and Investment in fixed assets (net) (-€130,937)
- Debts after one year +€54,385
up €54,385 (+38.8%), from €140,345 to €194,730
- Tax, wage and social debts +€41,412
up €41,412 (+172.8%), from €23,965 to €65,377
of which Taxes: +€42,337
- Other debts +€8,033
up €8,033 (+90.4%), from €8,886 to €16,919
- Reserves -€7,632
down €7,632 (-100.0%), from €7,632 to €0
- Current portion of long-term debt +€6,489
up €6,489 (+42.6%), from €15,238 to €21,727
- Gross operating margin +€74,228
up €74,228 (+26.8%), from €276,879 to €351,107
- Taxes +€14,828
up €14,828 (+22.8%), from €64,978 to €79,806
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 | €215,054 | €319,313 | +€104,258 | +48.5% |
| Fixed assets | 21/28 | €141,949 | €258,744 | +€116,795 | +82.3% |
| Tangible fixed assets | 22/27 | €141,799 | €258,594 | +€116,795 | +82.4% |
| Land and buildings | 22 | €141,341 | €127,558 | -€13,784 | -9.8% |
| Furniture and vehicles | 24 | €458 | €99 | -€358 | -78.3% |
| Assets under construction and advance payments | 27 | - | €130,937 | +€130,937 | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €73,105 | €60,569 | -€12,537 | -17.1% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €72,658 | €60,165 | -€12,493 | -17.2% |
| Deferred charges and accrued income | 490/1 | €448 | €404 | -€44 | -9.7% |
| Total equity and liabilities | 10/49 | €215,054 | €319,313 | +€104,258 | +48.5% |
| Equity | 10/15 | €26,232 | €18,600 | -€7,632 | -29.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €7,632 | €0 | -€7,632 | -100.0% |
| Distributable reserves | 133 | €7,632 | €0 | -€7,632 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €188,822 | €300,713 | +€111,891 | +59.3% |
| Amounts payable after more than one year | 17 | €140,345 | €194,730 | +€54,385 | +38.8% |
| Financial debts | 170/4 | €140,345 | €194,730 | +€54,385 | +38.8% |
| Amounts payable within one year | 42/48 | €48,477 | €105,975 | +€57,498 | +118.6% |
| Current portion of amounts payable after more than one year | 42 | €15,238 | €21,727 | +€6,489 | +42.6% |
| Trade debts | 44 | €388 | €1,952 | +€1,564 | +403.3% |
| Suppliers | 440/4 | €388 | €1,952 | +€1,564 | +403.3% |
| Taxes, remuneration and social security | 45 | €23,965 | €65,377 | +€41,412 | +172.8% |
| Taxes | 450/3 | €23,040 | €65,377 | +€42,337 | +183.8% |
| Remuneration and social security | 454/9 | €925 | €0 | -€925 | -100.0% |
| Other amounts payable | 47/48 | €8,886 | €16,919 | +€8,033 | +90.4% |
| Accrued charges and deferred income | 492/3 | - | €7 | +€7 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,808 | €14,142 | -€1,666 | -10.5% |
| Other operating charges | 640/8 | €3,146 | €3,784 | +€638 | +20.3% |
| Gross operating margin | 9900 | €276,879 | €351,107 | +€74,228 | +26.8% |
| Operating profit (loss) | 9901 | €257,925 | €333,181 | +€75,256 | +29.2% |
| Financial income | 75/76B | €306 | €337 | +€31 | +10.1% |
| Recurring financial income | 75 | €306 | €337 | +€31 | +10.1% |
| Financial charges | 65/66B | €3,045 | €3,659 | +€614 | +20.2% |
| Recurring financial charges | 65 | €3,045 | €3,659 | +€614 | +20.2% |
| Profit (loss) for the period before taxes | 9903 | €255,186 | €329,858 | +€74,672 | +29.3% |
| Income taxes | 67/77 | €64,978 | €79,806 | +€14,828 | +22.8% |
| Profit (loss) for the period | 9904 | €190,208 | €250,053 | +€59,845 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €190,208 | €250,053 | +€59,845 | +31.5% |
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.