NOTEBAERT PRODUKTIE: what changed
What changed
NOTEBAERT PRODUKTIE
NACE 12.000, Manufacture of tobacco products
filed annual accounts (NBB)
Net result for the year
-€10,639
2024 · -€24,245+€13,606
Equity
€481,497
2024 · €492,136-€10,639
Cash
€3,598
2024 · €341,510-€337,912
Balance sheet total
€3.2m
2024 · €4.4m-€1.2m
Largest movements
Assets
- Stocks and contracts -€876,474
down €876,474 (-67.1%), from €1.3m to €430,526
- Receivables within one year +€338,421
up €338,421 (+34.1%), from €991,253 to €1.3m
of which Trade receivables: +€462,796
- Cash -€337,912
down €337,912 (-98.9%), from €341,510 to €3,598
mainly Short-term financial debts (-€1.4m) and Other debts (-€453,000)
- Tangible fixed assets -€240,285
down €240,285 (-31.2%), from €769,241 to €528,955
of which Plant, machinery and equipment: -€170,428
- Intangible fixed assets -€101,686
down €101,686 (-10.0%), from €1.0m to €915,056
Equity and liabilities
- Short-term financial debts -€1.4m
down €1.4m (-100%), from €1.4m to €0
of which Other loans: -€750,000
- Debts after one year +€865,453
up €865,453 (+64.1%), from €1.4m to €2.2m
- Other debts -€453,000
down €453,000 (-69.4%), from €653,000 to €200,000
- Trade debts -€288,250
down €288,250 (-69.1%), from €417,109 to €128,859
- Tax, wage and social debts +€69,648
up €69,648 (+861%), from €8,093 to €77,741
of which Taxes: +€69,868
Income statement
- Staff costs -€347,955
down €347,955 (-59.6%), from €584,191 to €236,236
- Gross operating margin -€231,884
down €231,884 (-25.5%), from €908,599 to €676,715
- Depreciation +€103,505
up €103,505 (+40.3%), from €256,566 to €360,071
- Financial charges -€39,455
down €39,455 (-57.0%), from €69,258 to €29,803
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€24,245
Gross operating margin
-€231,884
Staff costs
+€347,955
Depreciation
-€103,505
Other operating charges
-€2,299
Other operating items
-€31,113
Financial income
-€2,041
Financial charges
+€39,455
Taxes
-€2,964
Result 2025
-€10,639
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€216,833
Investment
-€18,100
Financing
-€536,646
Cash 2024
€341,510
From operations (derived)
+€216,833
Net result for the year
-€10,639
Depreciation
+€360,071
Stocks and contracts
+€876,474
Receivables within one year
-€338,421
Trade debts
-€288,250
Tax, wage and social debts
+€69,648
Other debts
-€453,000
Accrued charges and deferred income
+€950
Investment (derived)
-€18,100
Investment in fixed assets (net)
-€18,100
Financing
-€536,646
Debts after one year
+€865,453
Current portion of long-term debt
-€52,098
Short-term financial debts
-€1.4m
Cash 2025
€3,598
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,426,420 | €3,208,484 | -€1.2m | -27.5% |
| Fixed assets | 21/28 | €1,786,657 | €1,444,686 | -€341,971 | -19.1% |
| Intangible fixed assets | 21 | €1,016,741 | €915,056 | -€101,686 | -10.0% |
| Tangible fixed assets | 22/27 | €769,241 | €528,955 | -€240,285 | -31.2% |
| Land and buildings | 22 | €345,088 | €267,083 | -€78,005 | -22.6% |
| Plant, machinery and equipment | 23 | €401,696 | €231,268 | -€170,428 | -42.4% |
| Furniture and vehicles | 24 | €22,457 | €30,604 | +€8,147 | +36.3% |
| Financial fixed assets | 28 | €675 | €675 | = | 0.0% |
| Current assets | 29/58 | €2,639,763 | €1,763,798 | -€875,965 | -33.2% |
| Stocks and contracts in progress | 3 | €1,307,000 | €430,526 | -€876,474 | -67.1% |
| Stocks | 30/36 | €1,307,000 | €430,526 | -€876,474 | -67.1% |
| Amounts receivable within one year | 40/41 | €991,253 | €1,329,674 | +€338,421 | +34.1% |
| Trade receivables | 40 | €766,878 | €1,229,674 | +€462,796 | +60.3% |
| Other amounts receivable | 41 | €224,375 | €100,000 | -€124,375 | -55.4% |
| Cash at bank and in hand | 54/58 | €341,510 | €3,598 | -€337,912 | -98.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €4,426,420 | €3,208,484 | -€1.2m | -27.5% |
| Equity | 10/15 | €492,136 | €481,497 | -€10,639 | -2.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €430,136 | €419,497 | -€10,639 | -2.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €423,936 | €413,297 | -€10,639 | -2.5% |
| Amounts payable | 17/49 | €3,934,284 | €2,726,987 | -€1.2m | -30.7% |
| Amounts payable after more than one year | 17 | €1,350,364 | €2,215,817 | +€865,453 | +64.1% |
| Financial debts | 170/4 | €1,350,364 | €2,215,817 | +€865,453 | +64.1% |
| Amounts payable within one year | 42/48 | €2,583,920 | €510,219 | -€2.1m | -80.3% |
| Current portion of amounts payable after more than one year | 42 | €155,718 | €103,620 | -€52,098 | -33.5% |
| Financial debts | 43 | €1,350,000 | €0 | -€1.4m | -100% |
| Credit institutions | 430/8 | €600,000 | €0 | -€600,000 | -100% |
| Other loans | 439 | €750,000 | €0 | -€750,000 | -100% |
| Trade debts | 44 | €417,109 | €128,859 | -€288,250 | -69.1% |
| Suppliers | 440/4 | €417,109 | €128,859 | -€288,250 | -69.1% |
| Taxes, remuneration and social security | 45 | €8,093 | €77,741 | +€69,648 | +861% |
| Taxes | 450/3 | €1,408 | €71,276 | +€69,868 | +4,964% |
| Remuneration and social security | 454/9 | €6,685 | €6,465 | -€220 | -3.3% |
| Other amounts payable | 47/48 | €653,000 | €200,000 | -€453,000 | -69.4% |
| Accrued charges and deferred income | 492/3 | - | €950 | +€950 | |
| Non-recurring operating income | 76A | €93,126 | €0 | -€93,126 | -100% |
| Remuneration, social security and pensions | 62 | €584,191 | €236,236 | -€347,955 | -59.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256,566 | €360,071 | +€103,505 | +40.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €17,277 | €19,576 | +€2,299 | +13.3% |
| Non-recurring operating charges | 66A | €8,887 | €40,000 | +€31,113 | +350% |
| Gross operating margin | 9900 | €908,599 | €676,715 | -€231,884 | -25.5% |
| Operating profit (loss) | 9901 | €41,678 | €20,833 | -€20,845 | -50.0% |
| Financial income | 75/76B | €2,041 | €0 | -€2,041 | -100% |
| Recurring financial income | 75 | €2,041 | €0 | -€2,041 | -100% |
| Financial charges | 65/66B | €69,258 | €29,803 | -€39,455 | -57.0% |
| Recurring financial charges | 65 | €69,258 | €29,803 | -€39,455 | -57.0% |
| Profit (loss) for the period before taxes | 9903 | -€25,539 | -€8,970 | +€16,570 | +64.9% |
| Income taxes | 67/77 | -€1,295 | €1,669 | +€2,964 | |
| Profit (loss) for the period | 9904 | -€24,245 | -€10,639 | +€13,606 | +56.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,245 | -€10,639 | +€13,606 | +56.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.