NOTARLO: 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.
NOTARLO
Largest movements
- Tangible fixed assets +€949,951
up €949,951 (+4325.6%), from €21,961 to €971,912
of which Land and buildings: +€920,088
- Intangible fixed assets -€243,091
down €243,091 (-11.6%), from €2.1m to €1.9m
- Cash +€38,545
up €38,545 (+13.1%), from €294,790 to €333,335
mainly Debts after one year (+€591,167) and Depreciation (+€315,551)
- Debts after one year +€591,167
up €591,167 (+31.7%), from €1.9m to €2.5m
- Trade debts +€51,285
up €51,285 (+40.0%), from €128,214 to €179,499
- Current portion of long-term debt +€45,500
up €45,500 (+18.7%), from €243,000 to €288,500
- Gross operating margin -€433,601
down €433,601 (-31.7%), from €1.4m to €932,918
- Staff costs -€166,679
down €166,679 (-25.0%), from €667,311 to €500,632
- Taxes -€59,323
down €59,323 (-100.0%), from €59,323 to €0
- Financial charges -€18,097
down €18,097 (-17.5%), from €103,356 to €85,259
- Financial income +€14,022
up €14,022 (+116.6%), from €12,021 to €26,044
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 | €2,555,113 | €3,279,351 | +€724,238 | +28.3% |
| Fixed assets | 21/28 | €2,120,378 | €2,827,238 | +€706,860 | +33.3% |
| Intangible fixed assets | 21 | €2,098,417 | €1,855,327 | -€243,091 | -11.6% |
| Tangible fixed assets | 22/27 | €21,961 | €971,912 | +€949,951 | +4325.6% |
| Land and buildings | 22 | - | €920,088 | +€920,088 | |
| Plant, machinery and equipment | 23 | - | €7,567 | +€7,567 | |
| Furniture and vehicles | 24 | €21,961 | €44,257 | +€22,296 | +101.5% |
| Current assets | 29/58 | €434,735 | €452,113 | +€17,378 | +4.0% |
| Amounts receivable within one year | 40/41 | €111,293 | €85,931 | -€25,362 | -22.8% |
| Trade receivables | 40 | €111,098 | €64,952 | -€46,145 | -41.5% |
| Other amounts receivable | 41 | €195 | €20,979 | +€20,784 | +10651.8% |
| Cash at bank and in hand | 54/58 | €294,790 | €333,335 | +€38,545 | +13.1% |
| Deferred charges and accrued income | 490/1 | €28,652 | €32,847 | +€4,195 | +14.6% |
| Total equity and liabilities | 10/49 | €2,555,113 | €3,279,351 | +€724,238 | +28.3% |
| Equity | 10/15 | €168,328 | €182,597 | +€14,269 | +8.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €166,328 | €180,597 | +€14,269 | +8.6% |
| Distributable reserves | 133 | €166,328 | €180,597 | +€14,269 | +8.6% |
| Amounts payable | 17/49 | €2,386,785 | €3,096,754 | +€709,969 | +29.7% |
| Amounts payable after more than one year | 17 | €1,863,000 | €2,454,167 | +€591,167 | +31.7% |
| Financial debts | 170/4 | €1,863,000 | €2,454,167 | +€591,167 | +31.7% |
| Amounts payable within one year | 42/48 | €523,533 | €639,300 | +€115,766 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €243,000 | €288,500 | +€45,500 | +18.7% |
| Trade debts | 44 | €128,214 | €179,499 | +€51,285 | +40.0% |
| Suppliers | 440/4 | €128,214 | €179,499 | +€51,285 | +40.0% |
| Taxes, remuneration and social security | 45 | €152,319 | €156,996 | +€4,676 | +3.1% |
| Taxes | 450/3 | €83,357 | €98,133 | +€14,776 | +17.7% |
| Remuneration and social security | 454/9 | €68,962 | €58,863 | -€10,099 | -14.6% |
| Other amounts payable | 47/48 | - | €14,305 | +€14,305 | |
| Accrued charges and deferred income | 492/3 | €251 | €3,288 | +€3,036 | +1207.6% |
| Non-recurring operating income | 76A | €26,158 | €0 | -€26,158 | -100.0% |
| Remuneration, social security and pensions | 62 | €667,311 | €500,632 | -€166,679 | -25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €327,663 | €315,551 | -€12,113 | -3.7% |
| Other operating charges | 640/8 | €27,670 | €27,649 | -€21 | -0.1% |
| Non-recurring operating charges | 66A | €26,887 | €15,602 | -€11,286 | -42.0% |
| Gross operating margin | 9900 | €1,366,518 | €932,918 | -€433,601 | -31.7% |
| Operating profit (loss) | 9901 | €316,986 | €73,484 | -€243,502 | -76.8% |
| Financial income | 75/76B | €12,021 | €26,044 | +€14,022 | +116.6% |
| Recurring financial income | 75 | €12,021 | €26,044 | +€14,022 | +116.6% |
| Financial charges | 65/66B | €103,356 | €85,259 | -€18,097 | -17.5% |
| Recurring financial charges | 65 | €103,356 | €85,259 | -€18,097 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €225,652 | €14,269 | -€211,383 | -93.7% |
| Income taxes | 67/77 | €59,323 | €0 | -€59,323 | -100.0% |
| Profit (loss) for the period | 9904 | €166,328 | €14,269 | -€152,059 | -91.4% |
| Profit (loss) for the period to be appropriated | 9905 | €166,328 | €14,269 | -€152,059 | -91.4% |
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 29 September 2026 via checked.be.