NOTCO II: 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.
NOTCO II
Largest movements
- Cash +€272,121
up €272,121 (+32.7%), from €833,149 to €1.1m
mainly Other debts (+€660,643) and Net result for the year (+€210,310)
- Tangible fixed assets -€39,531
down €39,531 (-30.4%), from €129,983 to €90,452
of which Furniture and vehicles: -€30,150
- Other debts +€660,643
up €660,643 (+668%), from €98,861 to €759,504
- Debts after one year -€650,000
down €650,000 (-100%), from €650,000 to €0
- Reserves +€210,310
up €210,310 (+22.6%), from €929,388 to €1.1m
of which Distributable reserves: +€210,310
- Tax, wage and social debts +€20,616
up €20,616 (+43.6%), from €47,322 to €67,938
- Financial income +€74,566
up €74,566 (+563%), from €13,250 to €87,816
- Taxes +€30,233
up €30,233 (+62.2%), from €48,592 to €78,825
- Financial charges -€11,498
down €11,498 (-19.4%), from €59,264 to €47,766
- Gross operating margin +€10,470
up €10,470 (+3.7%), from €281,900 to €292,370
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 | €1,795,101 | €2,019,484 | +€224,383 | +12.5% |
| Fixed assets | 21/28 | €945,205 | €909,174 | -€36,031 | -3.8% |
| Tangible fixed assets | 22/27 | €129,983 | €90,452 | -€39,531 | -30.4% |
| Furniture and vehicles | 24 | €103,075 | €72,925 | -€30,150 | -29.3% |
| Other tangible fixed assets | 26 | €26,908 | €17,527 | -€9,381 | -34.9% |
| Financial fixed assets | 28 | €815,222 | €818,722 | +€3,500 | +0.4% |
| Current assets | 29/58 | €849,896 | €1,110,310 | +€260,413 | +30.6% |
| Amounts receivable within one year | 40/41 | €10,380 | €0 | -€10,380 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €10,380 | €0 | -€10,380 | -100% |
| Cash at bank and in hand | 54/58 | €833,149 | €1,105,270 | +€272,121 | +32.7% |
| Deferred charges and accrued income | 490/1 | €6,367 | €5,040 | -€1,327 | -20.8% |
| Total equity and liabilities | 10/49 | €1,795,101 | €2,019,484 | +€224,383 | +12.5% |
| Equity | 10/15 | €947,988 | €1,158,298 | +€210,310 | +22.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €929,388 | €1,139,698 | +€210,310 | +22.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €760 | €760 | = | 0.0% |
| Distributable reserves | 133 | €926,768 | €1,137,078 | +€210,310 | +22.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €847,112 | €861,185 | +€14,073 | +1.7% |
| Amounts payable after more than one year | 17 | €650,000 | €0 | -€650,000 | -100% |
| Financial debts | 170/4 | €650,000 | €0 | -€650,000 | -100% |
| Amounts payable within one year | 42/48 | €155,629 | €827,966 | +€672,337 | +432% |
| Trade debts | 44 | €9,446 | €524 | -€8,922 | -94.5% |
| Suppliers | 440/4 | €9,446 | €524 | -€8,922 | -94.5% |
| Taxes, remuneration and social security | 45 | €47,322 | €67,938 | +€20,616 | +43.6% |
| Taxes | 450/3 | €47,322 | €67,938 | +€20,616 | +43.6% |
| Other amounts payable | 47/48 | €98,861 | €759,504 | +€660,643 | +668% |
| Accrued charges and deferred income | 492/3 | €41,484 | €33,219 | -€8,264 | -19.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,263 | €41,702 | -€561 | -1.3% |
| Other operating charges | 640/8 | €1,514 | €1,583 | +€70 | +4.6% |
| Gross operating margin | 9900 | €281,900 | €292,370 | +€10,470 | +3.7% |
| Operating profit (loss) | 9901 | €238,123 | €249,085 | +€10,961 | +4.6% |
| Financial income | 75/76B | €13,250 | €87,816 | +€74,566 | +563% |
| Recurring financial income | 75 | €13,250 | €87,816 | +€74,566 | +563% |
| Financial charges | 65/66B | €59,264 | €47,766 | -€11,498 | -19.4% |
| Recurring financial charges | 65 | €59,264 | €47,766 | -€11,498 | -19.4% |
| Profit (loss) for the period before taxes | 9903 | €192,109 | €289,135 | +€97,026 | +50.5% |
| Income taxes | 67/77 | €48,592 | €78,825 | +€30,233 | +62.2% |
| Profit (loss) for the period | 9904 | €143,517 | €210,310 | +€66,793 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | €143,517 | €210,310 | +€66,793 | +46.5% |
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 28 October 2026 via checked.be.