NOTTEM: 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.
NOTTEM
Largest movements
- Cash +€156,096
up €156,096 (+54.7%), from €285,275 to €441,371
mainly Net result for the year (+€265,308) and Other debts (+€112,815)
- Intangible fixed assets -€53,860
down €53,860 (-31.6%), from €170,556 to €116,696
- Receivables within one year +€18,252
up €18,252 (+29.4%), from €62,008 to €80,260
of which Trade receivables: +€17,859
- Tangible fixed assets -€17,349
down €17,349 (-70.7%), from €24,522 to €7,173
- Other debts +€112,815
up €112,815 (+64.0%), from €176,277 to €289,091
- Tax, wage and social debts +€79,022
up €79,022 (+160.8%), from €49,152 to €128,174
of which Taxes: +€74,614
- Debts after one year -€74,118
down €74,118 (-36.1%), from €205,435 to €131,317
- Current portion of long-term debt -€17,011
down €17,011 (-18.8%), from €90,549 to €73,538
- Gross operating margin +€236,684
up €236,684 (+50.2%), from €471,051 to €707,735
- Taxes +€65,111
up €65,111 (+266.1%), from €24,470 to €89,581
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 | €544,384 | €652,512 | +€108,127 | +19.9% |
| Fixed assets | 21/28 | €195,104 | €123,895 | -€71,209 | -36.5% |
| Intangible fixed assets | 21 | €170,556 | €116,696 | -€53,860 | -31.6% |
| Tangible fixed assets | 22/27 | €24,522 | €7,173 | -€17,349 | -70.7% |
| Furniture and vehicles | 24 | €24,522 | €7,173 | -€17,349 | -70.7% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €349,281 | €528,617 | +€179,336 | +51.3% |
| Amounts receivable within one year | 40/41 | €62,008 | €80,260 | +€18,252 | +29.4% |
| Trade receivables | 40 | €59,649 | €77,507 | +€17,859 | +29.9% |
| Other amounts receivable | 41 | €2,359 | €2,753 | +€393 | +16.7% |
| Cash at bank and in hand | 54/58 | €285,275 | €441,371 | +€156,096 | +54.7% |
| Deferred charges and accrued income | 490/1 | €1,998 | €6,986 | +€4,988 | +249.7% |
| Total equity and liabilities | 10/49 | €544,384 | €652,512 | +€108,127 | +19.9% |
| Equity | 10/15 | €10,230 | €10,230 | = | 0.0% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Outside capital | 11 | €9,300 | €9,300 | = | 0.0% |
| Other | 1109/19 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €930 | €930 | = | 0.0% |
| Distributable reserves | 133 | €930 | €930 | = | 0.0% |
| Amounts payable | 17/49 | €534,154 | €642,282 | +€108,127 | +20.2% |
| Amounts payable after more than one year | 17 | €205,435 | €131,317 | -€74,118 | -36.1% |
| Financial debts | 170/4 | €205,435 | €131,317 | -€74,118 | -36.1% |
| Amounts payable within one year | 42/48 | €328,720 | €508,929 | +€180,209 | +54.8% |
| Current portion of amounts payable after more than one year | 42 | €90,549 | €73,538 | -€17,011 | -18.8% |
| Trade debts | 44 | €12,741 | €18,125 | +€5,384 | +42.3% |
| Suppliers | 440/4 | €12,741 | €18,125 | +€5,384 | +42.3% |
| Taxes, remuneration and social security | 45 | €49,152 | €128,174 | +€79,022 | +160.8% |
| Taxes | 450/3 | €18,805 | €93,419 | +€74,614 | +396.8% |
| Remuneration and social security | 454/9 | €30,347 | €34,755 | +€4,407 | +14.5% |
| Other amounts payable | 47/48 | €176,277 | €289,091 | +€112,815 | +64.0% |
| Accrued charges and deferred income | 492/3 | - | €2,036 | +€2,036 | |
| Remuneration, social security and pensions | 62 | €291,617 | €284,884 | -€6,734 | -2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,055 | €71,209 | -€846 | -1.2% |
| Other operating charges | 640/8 | €2,385 | €3,381 | +€997 | +41.8% |
| Gross operating margin | 9900 | €471,051 | €707,735 | +€236,684 | +50.2% |
| Operating profit (loss) | 9901 | €104,994 | €348,261 | +€243,267 | +231.7% |
| Financial income | 75/76B | €3,662 | €8,353 | +€4,692 | +128.1% |
| Recurring financial income | 75 | €3,662 | €8,353 | +€4,692 | +128.1% |
| Financial charges | 65/66B | €4,113 | €1,725 | -€2,388 | -58.1% |
| Recurring financial charges | 65 | €4,113 | €1,725 | -€2,388 | -58.1% |
| Profit (loss) for the period before taxes | 9903 | €104,543 | €354,889 | +€250,346 | +239.5% |
| Income taxes | 67/77 | €24,470 | €89,581 | +€65,111 | +266.1% |
| Profit (loss) for the period | 9904 | €80,072 | €265,308 | +€185,235 | +231.3% |
| Profit (loss) for the period to be appropriated | 9905 | €80,072 | €265,308 | +€185,235 | +231.3% |
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 5 October 2026 via checked.be.