NoTo: 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.
NoTo
Largest movements
- Financial fixed assets -€43,618
down €43,618 (-8.0%), from €548,618 to €505,000
- Cash +€29,703
up €29,703 (+850.2%), from €3,494 to €33,196
mainly Other debts (+€41,907) and Investment in fixed assets (net) (+€35,195)
- Tangible fixed assets +€6,040
up €6,040 (+255.9%), from €2,360 to €8,400
of which Furniture and vehicles: +€4,866
- Reserves -€55,703
down €55,703 (-10.3%), from €542,006 to €486,303
- Other debts +€41,907
up €41,907 (+304.3%), from €13,771 to €55,678
- Trade debts +€16,969
up €16,969 (+320.2%), from €5,299 to €22,268
- Tax, wage and social debts -€9,498
down €9,498 (-79.6%), from €11,940 to €2,441
- Gross operating margin -€20,090
down €20,090 (-59.9%), from €33,526 to €13,436
- Taxes -€7,031
down €7,031 (-89.6%), from €7,849 to €818
- Financial income -€6,032
down €6,032 (-100.0%), from €6,032 to €0
- Financial charges -€1,821
down €1,821 (-17.9%), from €10,177 to €8,356
- Depreciation +€1,009
up €1,009 (+73.5%), from €1,374 to €2,383
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 | €597,129 | €591,312 | -€5,816 | -1.0% |
| Fixed assets | 21/28 | €550,978 | €513,400 | -€37,578 | -6.8% |
| Tangible fixed assets | 22/27 | €2,360 | €8,400 | +€6,040 | +255.9% |
| Plant, machinery and equipment | 23 | - | €1,173 | +€1,173 | |
| Furniture and vehicles | 24 | €2,360 | €7,226 | +€4,866 | +206.2% |
| Financial fixed assets | 28 | €548,618 | €505,000 | -€43,618 | -8.0% |
| Current assets | 29/58 | €46,151 | €77,913 | +€31,762 | +68.8% |
| Amounts receivable within one year | 40/41 | €6,170 | €9,524 | +€3,354 | +54.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €6,170 | €9,524 | +€3,354 | +54.4% |
| Current investments | 50/53 | €26,447 | €29,447 | +€3,000 | +11.3% |
| Cash at bank and in hand | 54/58 | €3,494 | €33,196 | +€29,703 | +850.2% |
| Deferred charges and accrued income | 490/1 | €10,039 | €5,745 | -€4,294 | -42.8% |
| Total equity and liabilities | 10/49 | €597,129 | €591,312 | -€5,816 | -1.0% |
| Equity | 10/15 | €560,606 | €504,903 | -€55,703 | -9.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €542,006 | €486,303 | -€55,703 | -10.3% |
| Distributable reserves | 133 | €542,006 | €486,303 | -€55,703 | -10.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €36,522 | €86,409 | +€49,887 | +136.6% |
| Amounts payable after more than one year | 17 | €0 | €1,387 | +€1,387 | |
| Financial debts | 170/4 | €0 | €1,387 | +€1,387 | |
| Amounts payable within one year | 42/48 | €36,522 | €84,978 | +€48,456 | +132.7% |
| Current portion of amounts payable after more than one year | 42 | €1,449 | €3,242 | +€1,793 | +123.8% |
| Financial debts | 43 | €4,064 | €1,349 | -€2,715 | -66.8% |
| Credit institutions | 430/8 | €4,064 | €1,349 | -€2,715 | -66.8% |
| Trade debts | 44 | €5,299 | €22,268 | +€16,969 | +320.2% |
| Suppliers | 440/4 | €5,299 | €22,268 | +€16,969 | +320.2% |
| Taxes, remuneration and social security | 45 | €11,940 | €2,441 | -€9,498 | -79.6% |
| Taxes | 450/3 | €11,940 | €2,441 | -€9,498 | -79.6% |
| Other amounts payable | 47/48 | €13,771 | €55,678 | +€41,907 | +304.3% |
| Accrued charges and deferred income | 492/3 | - | €44 | +€44 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,374 | €2,383 | +€1,009 | +73.5% |
| Other operating charges | 640/8 | €1,794 | €1,816 | +€23 | +1.3% |
| Gross operating margin | 9900 | €33,526 | €13,436 | -€20,090 | -59.9% |
| Operating profit (loss) | 9901 | €30,358 | €9,236 | -€21,122 | -69.6% |
| Financial income | 75/76B | €6,032 | €0 | -€6,032 | -100.0% |
| Recurring financial income | 75 | €6,032 | €0 | -€6,032 | -100.0% |
| Financial charges | 65/66B | €10,177 | €8,356 | -€1,821 | -17.9% |
| Recurring financial charges | 65 | €10,177 | €8,356 | -€1,821 | -17.9% |
| Profit (loss) for the period before taxes | 9903 | €26,213 | €880 | -€25,333 | -96.6% |
| Income taxes | 67/77 | €7,849 | €818 | -€7,031 | -89.6% |
| Profit (loss) for the period | 9904 | €18,364 | €62 | -€18,302 | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,364 | €62 | -€18,302 | -99.7% |
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 30 September 2026 via checked.be.