NOTAX III: 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.
NOTAX III
Largest movements
- Tangible fixed assets -€473,394
down €473,394 (-6.8%), from €7.0m to €6.5m
of which Land and buildings: -€485,350
- Profit (loss) carried forward -€962,353
down €962,353 (-8.9%), from -€10.8m to -€11.8m
- Debts after one year +€539,679
up €539,679 (+7.5%), from €7.2m to €7.7m
- Gross operating margin +€40,410
up €40,410 (+31.9%), from -€126,528 to -€86,117
- Other operating charges +€22,331
up €22,331 (+150%), from €14,914 to €37,245
- Depreciation +€17,800
up €17,800 (+3.0%), from €601,615 to €619,415
- Financial charges +€16,624
up €16,624 (+8.0%), from €208,209 to €224,833
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.
Derived cash bridge
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 | €7,279,981 | €6,862,248 | -€417,733 | -5.7% |
| Fixed assets | 21/28 | €6,983,755 | €6,510,361 | -€473,394 | -6.8% |
| Tangible fixed assets | 22/27 | €6,983,755 | €6,510,361 | -€473,394 | -6.8% |
| Land and buildings | 22 | €6,892,072 | €6,406,722 | -€485,350 | -7.0% |
| Plant, machinery and equipment | 23 | €51,506 | €48,213 | -€3,293 | -6.4% |
| Furniture and vehicles | 24 | €19,931 | €35,180 | +€15,248 | +76.5% |
| Other tangible fixed assets | 26 | €20,245 | €20,245 | = | 0.0% |
| Current assets | 29/58 | €296,226 | €351,888 | +€55,661 | +18.8% |
| Amounts receivable within one year | 40/41 | €270,125 | €322,733 | +€52,608 | +19.5% |
| Trade receivables | 40 | €13,612 | - | -€13,612 | |
| Other amounts receivable | 41 | €256,513 | €322,733 | +€66,220 | +25.8% |
| Cash at bank and in hand | 54/58 | €3,461 | €5,672 | +€2,211 | +63.9% |
| Deferred charges and accrued income | 490/1 | €22,640 | €23,484 | +€843 | +3.7% |
| Total equity and liabilities | 10/49 | €7,279,981 | €6,862,248 | -€417,733 | -5.7% |
| Equity | 10/15 | €85,262 | -€877,091 | -€962,353 | |
| Contributions | 10/11 | €10,890,666 | €10,890,666 | = | 0.0% |
| Capital | 10 | €10,890,666 | €10,890,666 | = | 0.0% |
| Issued capital | 100 | €10,890,666 | €10,890,666 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,805,404 | -€11,767,757 | -€962,353 | -8.9% |
| Amounts payable | 17/49 | €7,194,719 | €7,739,339 | +€544,620 | +7.6% |
| Amounts payable after more than one year | 17 | €7,194,719 | €7,734,398 | +€539,679 | +7.5% |
| Financial debts | 170/4 | €7,194,719 | €7,734,398 | +€539,679 | +7.5% |
| Amounts payable within one year | 42/48 | - | €4,941 | +€4,941 | |
| Trade debts | 44 | - | €4,941 | +€4,941 | |
| Suppliers | 440/4 | - | €4,941 | +€4,941 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €601,615 | €619,415 | +€17,800 | +3.0% |
| Other operating charges | 640/8 | €14,914 | €37,245 | +€22,331 | +150% |
| Gross operating margin | 9900 | -€126,528 | -€86,117 | +€40,410 | +31.9% |
| Operating profit (loss) | 9901 | -€743,057 | -€742,778 | +€279 | 0.0% |
| Financial income | 75/76B | €4,021 | €5,258 | +€1,238 | +30.8% |
| Recurring financial income | 75 | €4,021 | €5,258 | +€1,238 | +30.8% |
| Financial charges | 65/66B | €208,209 | €224,833 | +€16,624 | +8.0% |
| Recurring financial charges | 65 | €208,209 | €224,833 | +€16,624 | +8.0% |
| Profit (loss) for the period before taxes | 9903 | -€947,245 | -€962,353 | -€15,108 | -1.6% |
| Profit (loss) for the period | 9904 | -€947,245 | -€962,353 | -€15,108 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€947,245 | -€962,353 | -€15,108 | -1.6% |
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 13 October 2026 via checked.be.