Nottebaert Pedro: 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.
Nottebaert Pedro
Largest movements
- Stocks and contracts +€16,400
up €16,400 (+71.7%), from €22,875 to €39,275
of which Contracts in progress: +€12,500
- Cash -€15,458
down €15,458 (-51.2%), from €30,175 to €14,717
mainly Stocks and contracts (-€16,400) and Debts after one year (-€7,116)
- Tangible fixed assets -€9,354
down €9,354 (-7.8%), from €119,299 to €109,944
of which Land and buildings: -€5,000
- Receivables within one year -€6,988
down €6,988 (-17.6%), from €39,627 to €32,639
of which Trade receivables: -€3,594
- Intangible fixed assets -€2,500
down €2,500 (-14.3%), from €17,500 to €15,000
- Debts after one year -€7,116
down €7,116 (-9.0%), from €78,978 to €71,863
- Other debts -€7,011
down €7,011 (-10.1%), from €69,421 to €62,410
- Trade debts -€6,007
down €6,007 (-28.0%), from €21,442 to €15,434
- Gross operating margin -€1,981
down €1,981 (-9.0%), from €22,018 to €20,037
- Depreciation -€833
down €833 (-6.6%), from €12,688 to €11,854
- Financial charges +€416
up €416 (+34.4%), from €1,212 to €1,629
- Financial income -€229
down €229 (-28.6%), from €800 to €571
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 | €230,738 | €212,829 | -€17,909 | -7.8% |
| Fixed assets | 21/28 | €136,799 | €124,944 | -€11,854 | -8.7% |
| Intangible fixed assets | 21 | €17,500 | €15,000 | -€2,500 | -14.3% |
| Tangible fixed assets | 22/27 | €119,299 | €109,944 | -€9,354 | -7.8% |
| Land and buildings | 22 | €92,083 | €87,083 | -€5,000 | -5.4% |
| Plant, machinery and equipment | 23 | €27,215 | €22,861 | -€4,354 | -16.0% |
| Current assets | 29/58 | €93,939 | €87,885 | -€6,055 | -6.4% |
| Stocks and contracts in progress | 3 | €22,875 | €39,275 | +€16,400 | +71.7% |
| Stocks | 30/36 | €22,875 | €26,775 | +€3,900 | +17.0% |
| Contracts in progress | 37 | - | €12,500 | +€12,500 | |
| Amounts receivable within one year | 40/41 | €39,627 | €32,639 | -€6,988 | -17.6% |
| Trade receivables | 40 | €32,287 | €28,693 | -€3,594 | -11.1% |
| Other amounts receivable | 41 | €7,340 | €3,946 | -€3,394 | -46.2% |
| Cash at bank and in hand | 54/58 | €30,175 | €14,717 | -€15,458 | -51.2% |
| Deferred charges and accrued income | 490/1 | €1,263 | €1,254 | -€9 | -0.7% |
| Total equity and liabilities | 10/49 | €230,738 | €212,829 | -€17,909 | -7.8% |
| Equity | 10/15 | €51,125 | €53,007 | +€1,882 | +3.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €46,125 | €48,007 | +€1,882 | +4.1% |
| Distributable reserves | 133 | €46,125 | €48,007 | +€1,882 | +4.1% |
| Amounts payable | 17/49 | €179,613 | €159,822 | -€19,791 | -11.0% |
| Amounts payable after more than one year | 17 | €78,978 | €71,863 | -€7,116 | -9.0% |
| Financial debts | 170/4 | €78,978 | €71,863 | -€7,116 | -9.0% |
| Amounts payable within one year | 42/48 | €100,635 | €87,960 | -€12,676 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €7,034 | €7,116 | +€82 | +1.2% |
| Trade debts | 44 | €21,442 | €15,434 | -€6,007 | -28.0% |
| Suppliers | 440/4 | €21,442 | €15,434 | -€6,007 | -28.0% |
| Taxes, remuneration and social security | 45 | €2,739 | €3,000 | +€261 | +9.5% |
| Remuneration and social security | 454/9 | €2,739 | €3,000 | +€261 | +9.5% |
| Other amounts payable | 47/48 | €69,421 | €62,410 | -€7,011 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,688 | €11,854 | -€833 | -6.6% |
| Other operating charges | 640/8 | €1,182 | €1,352 | +€170 | +14.4% |
| Gross operating margin | 9900 | €22,018 | €20,037 | -€1,981 | -9.0% |
| Operating profit (loss) | 9901 | €8,149 | €6,831 | -€1,318 | -16.2% |
| Financial income | 75/76B | €800 | €571 | -€229 | -28.6% |
| Recurring financial income | 75 | €800 | €571 | -€229 | -28.6% |
| Financial charges | 65/66B | €1,212 | €1,629 | +€416 | +34.4% |
| Recurring financial charges | 65 | €1,212 | €1,629 | +€416 | +34.4% |
| Profit (loss) for the period before taxes | 9903 | €7,736 | €5,773 | -€1,963 | -25.4% |
| Income taxes | 67/77 | €2,107 | €2,225 | +€118 | +5.6% |
| Profit (loss) for the period | 9904 | €5,630 | €3,548 | -€2,081 | -37.0% |
| Profit (loss) for the period to be appropriated | 9905 | €5,630 | €3,548 | -€2,081 | -37.0% |
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 29 October 2026 via checked.be.