NOUST: 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.
NOUST
Largest movements
- Stocks and contracts +€708,448
up €708,448 (+112%), from €630,224 to €1.3m
of which Contracts in progress: +€673,498
- Receivables within one year +€123,495
up €123,495 (+41.2%), from €299,611 to €423,105
of which Trade receivables: +€137,004
- Debts after one year +€309,368
up €309,368 (+11.4%), from €2.7m to €3.0m
of which Other amounts payable: +€450,000
- Short-term financial debts +€250,000
up €250,000 (+100%), from €250,000 to €500,000
- Trade debts +€139,983
up €139,983 (+29.9%), from €467,827 to €607,810
- Other debts +€78,098
up €78,098 (+19.7%), from €396,698 to €474,796
- Staff costs +€208,951
up €208,951 (+21.1%), from €990,570 to €1.2m
- Gross operating margin +€101,136
up €101,136 (+6.4%), from €1.6m to €1.7m
- Other operating charges +€19,905
up €19,905 (+99.7%), from €19,968 to €39,873
- Depreciation +€17,979
up €17,979 (+7.0%), from €256,701 to €274,681
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 | €4,329,028 | €5,143,093 | +€814,065 | +18.8% |
| Fixed assets | 21/28 | €3,376,444 | €3,379,261 | +€2,817 | +0.1% |
| Intangible fixed assets | 21 | €19,648 | €36,742 | +€17,093 | +87.0% |
| Tangible fixed assets | 22/27 | €3,355,796 | €3,341,520 | -€14,276 | -0.4% |
| Land and buildings | 22 | €480,638 | €661,770 | +€181,132 | +37.7% |
| Plant, machinery and equipment | 23 | €149,803 | €148,775 | -€1,028 | -0.7% |
| Furniture and vehicles | 24 | €10,712 | €10,948 | +€236 | +2.2% |
| Leasing and similar rights | 25 | €2,714,644 | €2,520,027 | -€194,616 | -7.2% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €952,584 | €1,763,831 | +€811,248 | +85.2% |
| Stocks and contracts in progress | 3 | €630,224 | €1,338,671 | +€708,448 | +112% |
| Stocks | 30/36 | €307,778 | €342,727 | +€34,950 | +11.4% |
| Contracts in progress | 37 | €322,446 | €995,944 | +€673,498 | +209% |
| Amounts receivable within one year | 40/41 | €299,611 | €423,105 | +€123,495 | +41.2% |
| Trade receivables | 40 | €286,102 | €423,105 | +€137,004 | +47.9% |
| Other amounts receivable | 41 | €13,509 | - | -€13,509 | |
| Cash at bank and in hand | 54/58 | €22,749 | €2,055 | -€20,695 | -91.0% |
| Total equity and liabilities | 10/49 | €4,329,028 | €5,143,093 | +€814,065 | +18.8% |
| Equity | 10/15 | €306,458 | €316,542 | +€10,084 | +3.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €298,398 | €308,482 | +€10,084 | +3.4% |
| Amounts payable | 17/49 | €4,022,570 | €4,826,551 | +€803,981 | +20.0% |
| Amounts payable after more than one year | 17 | €2,709,625 | €3,018,993 | +€309,368 | +11.4% |
| Financial debts | 170/4 | €2,519,625 | €2,378,993 | -€140,632 | -5.6% |
| Other amounts payable | 178/9 | €190,000 | €640,000 | +€450,000 | +237% |
| Amounts payable within one year | 42/48 | €1,312,945 | €1,807,558 | +€494,613 | +37.7% |
| Current portion of amounts payable after more than one year | 42 | €133,382 | €147,387 | +€14,006 | +10.5% |
| Financial debts | 43 | €250,000 | €500,000 | +€250,000 | +100% |
| Credit institutions | 430/8 | €250,000 | €500,000 | +€250,000 | +100% |
| Trade debts | 44 | €467,827 | €607,810 | +€139,983 | +29.9% |
| Suppliers | 440/4 | €467,827 | €607,810 | +€139,983 | +29.9% |
| Taxes, remuneration and social security | 45 | €65,038 | €77,565 | +€12,526 | +19.3% |
| Taxes | 450/3 | €6,224 | €6,618 | +€394 | +6.3% |
| Remuneration and social security | 454/9 | €58,815 | €70,947 | +€12,132 | +20.6% |
| Other amounts payable | 47/48 | €396,698 | €474,796 | +€78,098 | +19.7% |
| Non-recurring operating income | 76A | €1,240 | - | -€1,240 | |
| Remuneration, social security and pensions | 62 | €990,570 | €1,199,521 | +€208,951 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256,701 | €274,681 | +€17,979 | +7.0% |
| Other operating charges | 640/8 | €19,968 | €39,873 | +€19,905 | +99.7% |
| Gross operating margin | 9900 | €1,574,484 | €1,675,619 | +€101,136 | +6.4% |
| Operating profit (loss) | 9901 | €307,245 | €161,545 | -€145,700 | -47.4% |
| Financial income | 75/76B | €62 | €1,214 | +€1,152 | +1,853% |
| Recurring financial income | 75 | €62 | €1,214 | +€1,152 | +1,853% |
| Financial charges | 65/66B | €146,075 | €150,652 | +€4,576 | +3.1% |
| Recurring financial charges | 65 | €146,075 | €150,652 | +€4,576 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €161,232 | €12,108 | -€149,125 | -92.5% |
| Income taxes | 67/77 | €2,804 | €2,024 | -€780 | -27.8% |
| Profit (loss) for the period | 9904 | €158,428 | €10,084 | -€148,345 | -93.6% |
| Profit (loss) for the period to be appropriated | 9905 | €158,428 | €10,084 | -€148,345 | -93.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.