NOTAWEST: 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.
NOTAWEST
Largest movements
- Tangible fixed assets -€48,568
down €48,568 (-18.9%), from €257,329 to €208,761
of which Other tangible fixed assets: -€46,213
- Cash -€16,164
down €16,164 (-4.4%), from €370,012 to €353,848
mainly Contributions, distributions and other (-€120,000) and Debts after one year (-€40,000)
- Receivables within one year -€10,080
down €10,080 (-5.6%), from €181,526 to €171,446
of which Trade receivables: -€7,737
- Debts after one year -€40,000
down €40,000 (-26.9%), from €148,750 to €108,750
- Other debts -€20,000
down €20,000 (-14.1%), from €141,877 to €121,877
- Current portion of long-term debt -€10,000
down €10,000 (-16.7%), from €60,000 to €50,000
- Trade debts -€9,113
down €9,113 (-19.2%), from €47,451 to €38,338
- Staff costs +€21,391
up €21,391 (+4.1%), from €520,132 to €541,524
- Financial income +€7,778
up €7,778 (+86.6%), from €8,979 to €16,757
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 | €813,000 | €738,597 | -€74,403 | -9.2% |
| Fixed assets | 21/28 | €257,329 | €208,761 | -€48,568 | -18.9% |
| Tangible fixed assets | 22/27 | €257,329 | €208,761 | -€48,568 | -18.9% |
| Furniture and vehicles | 24 | €20,908 | €18,552 | -€2,355 | -11.3% |
| Other tangible fixed assets | 26 | €236,422 | €190,209 | -€46,213 | -19.5% |
| Current assets | 29/58 | €555,670 | €529,836 | -€25,835 | -4.6% |
| Amounts receivable within one year | 40/41 | €181,526 | €171,446 | -€10,080 | -5.6% |
| Trade receivables | 40 | €27,145 | €19,409 | -€7,737 | -28.5% |
| Other amounts receivable | 41 | €154,381 | €152,037 | -€2,343 | -1.5% |
| Cash at bank and in hand | 54/58 | €370,012 | €353,848 | -€16,164 | -4.4% |
| Deferred charges and accrued income | 490/1 | €4,133 | €4,542 | +€409 | +9.9% |
| Total equity and liabilities | 10/49 | €813,000 | €738,597 | -€74,403 | -9.2% |
| Equity | 10/15 | €253,077 | €255,624 | +€2,547 | +1.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €60,634 | €60,634 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,531 | €2,531 | = | 0.0% |
| Distributable reserves | 133 | €58,103 | €58,103 | = | 0.0% |
| Profit (loss) carried forward | 14 | €173,893 | €176,440 | +€2,547 | +1.5% |
| Amounts payable | 17/49 | €559,923 | €482,973 | -€76,950 | -13.7% |
| Amounts payable after more than one year | 17 | €148,750 | €108,750 | -€40,000 | -26.9% |
| Financial debts | 170/4 | €148,750 | €108,750 | -€40,000 | -26.9% |
| Amounts payable within one year | 42/48 | €411,173 | €374,223 | -€36,950 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Trade debts | 44 | €47,451 | €38,338 | -€9,113 | -19.2% |
| Suppliers | 440/4 | €47,451 | €38,338 | -€9,113 | -19.2% |
| Taxes, remuneration and social security | 45 | €161,846 | €164,008 | +€2,163 | +1.3% |
| Taxes | 450/3 | €81,421 | €79,486 | -€1,935 | -2.4% |
| Remuneration and social security | 454/9 | €80,425 | €84,522 | +€4,097 | +5.1% |
| Other amounts payable | 47/48 | €141,877 | €121,877 | -€20,000 | -14.1% |
| Remuneration, social security and pensions | 62 | €520,132 | €541,524 | +€21,391 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,329 | €54,437 | -€4,891 | -8.2% |
| Other operating charges | 640/8 | €21,376 | €26,261 | +€4,885 | +22.9% |
| Gross operating margin | 9900 | €746,005 | €738,801 | -€7,204 | -1.0% |
| Operating profit (loss) | 9901 | €145,168 | €116,579 | -€28,589 | -19.7% |
| Financial income | 75/76B | €8,979 | €16,757 | +€7,778 | +86.6% |
| Recurring financial income | 75 | €8,979 | €16,757 | +€7,778 | +86.6% |
| Financial charges | 65/66B | €4,556 | €5,439 | +€883 | +19.4% |
| Recurring financial charges | 65 | €4,556 | €5,379 | +€823 | +18.1% |
| Non-recurring financial charges | 66B | - | €60 | +€60 | |
| Profit (loss) for the period before taxes | 9903 | €149,591 | €127,898 | -€21,693 | -14.5% |
| Income taxes | 67/77 | €5,763 | €5,351 | -€412 | -7.1% |
| Profit (loss) for the period | 9904 | €143,828 | €122,547 | -€21,281 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €143,828 | €122,547 | -€21,281 | -14.8% |
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 5 October 2026 via checked.be.