NOTARKAD: what changed
Two fiscal 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.
NOTARKAD
Largest movements
- Receivables within one year -€21,341
down €21,341 (-94.6%), from €22,569 to €1,228
of which Other amounts receivable: -€21,341
- Reserves +€70,998
up €70,998 (+22.9%), from €310,497 to €381,495
- Debts after one year -€59,582
down €59,582 (-15.6%), from €381,231 to €321,650
- Accrued charges and deferred income -€14,306
down €14,306 (-48.8%), from €29,332 to €15,027
- Financial income +€75,222
up €75,222 (+136.8%), from €54,996 to €130,218
of which Financial income: +€75,222
- Gross operating margin -€33,124
down €33,124 (-19.7%), from €167,725 to €134,602
- Financial charges -€15,003
down €15,003 (-44.5%), from €33,703 to €18,700
- Depreciation -€2,595
down €2,595 (-23.0%), from €11,276 to €8,681
- Taxes +€1,774
up €1,774 (+5.5%), from €32,543 to €34,317
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 | €1,114,339 | €1,091,802 | -€22,537 | -2.0% |
| Fixed assets | 21/28 | €993,456 | €985,873 | -€7,582 | -0.8% |
| Tangible fixed assets | 22/27 | €39,600 | €32,018 | -€7,582 | -19.1% |
| Land and buildings | 22 | €9,015 | €8,065 | -€950 | -10.5% |
| Plant, machinery and equipment | 23 | €19,158 | €16,374 | -€2,784 | -14.5% |
| Furniture and vehicles | 24 | €10,400 | €6,723 | -€3,677 | -35.4% |
| Other tangible fixed assets | 26 | €1,027 | €856 | -€171 | -16.7% |
| Financial fixed assets | 28 | €953,856 | €953,856 | = | 0.0% |
| Current assets | 29/58 | €120,883 | €105,928 | -€14,955 | -12.4% |
| Amounts receivable within one year | 40/41 | €22,569 | €1,228 | -€21,341 | -94.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €22,569 | €1,228 | -€21,341 | -94.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €97,142 | €103,978 | +€6,836 | +7.0% |
| Deferred charges and accrued income | 490/1 | €1,172 | €723 | -€449 | -38.3% |
| Total equity and liabilities | 10/49 | €1,114,339 | €1,091,802 | -€22,537 | -2.0% |
| Equity | 10/15 | €315,497 | €386,495 | +€70,998 | +22.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €310,497 | €381,495 | +€70,998 | +22.9% |
| Distributable reserves | 133 | €310,497 | €381,495 | +€70,998 | +22.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €798,841 | €705,307 | -€93,534 | -11.7% |
| Amounts payable after more than one year | 17 | €381,231 | €321,650 | -€59,582 | -15.6% |
| Financial debts | 170/4 | €381,231 | €321,650 | -€59,582 | -15.6% |
| Amounts payable within one year | 42/48 | €388,278 | €368,630 | -€19,647 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €63,546 | €59,582 | -€3,964 | -6.2% |
| Trade debts | 44 | €6,163 | €1,772 | -€4,392 | -71.3% |
| Suppliers | 440/4 | €6,163 | €1,772 | -€4,392 | -71.3% |
| Advances received on contracts in progress | 46 | €1,690 | €0 | -€1,690 | -100.0% |
| Taxes, remuneration and social security | 45 | €18,407 | €11,840 | -€6,567 | -35.7% |
| Taxes | 450/3 | €18,407 | €11,840 | -€6,567 | -35.7% |
| Other amounts payable | 47/48 | €298,471 | €295,437 | -€3,034 | -1.0% |
| Accrued charges and deferred income | 492/3 | €29,332 | €15,027 | -€14,306 | -48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,276 | €8,681 | -€2,595 | -23.0% |
| Other operating charges | 640/8 | €1,265 | €2,124 | +€858 | +67.8% |
| Non-recurring operating charges | 66A | €4,500 | €0 | -€4,500 | -100.0% |
| Gross operating margin | 9900 | €167,725 | €134,602 | -€33,124 | -19.7% |
| Operating profit (loss) | 9901 | €150,684 | €123,797 | -€26,887 | -17.8% |
| Financial income | 75/76B | €54,996 | €130,218 | +€75,222 | +136.8% |
| Recurring financial income | 75 | €54,996 | €130,218 | +€75,222 | +136.8% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €33,703 | €18,700 | -€15,003 | -44.5% |
| Recurring financial charges | 65 | €33,703 | €18,700 | -€15,003 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | €171,976 | €235,315 | +€63,338 | +36.8% |
| Income taxes | 67/77 | €32,543 | €34,317 | +€1,774 | +5.5% |
| Profit (loss) for the period | 9904 | €139,433 | €200,998 | +€61,564 | +44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €139,433 | €200,998 | +€61,564 | +44.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.