NOX: 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.
NOX
Largest movements
- Tangible fixed assets +€16,235
up €16,235 (+6.0%), from €269,627 to €285,862
of which Furniture and vehicles: +€11,251
- Cash +€8,856
up €8,856 (+66.1%), from €13,404 to €22,260
mainly Net result for the year (+€40,132) and Depreciation (+€37,315)
- Intangible fixed assets -€6,500
down €6,500 (-20.0%), from €32,482 to €25,982
- Trade debts +€13,495
up €13,495 (+126.4%), from €10,673 to €24,168
- Debts after one year -€6,875
no longer reported in 2025 (was €6,875)
- Profit (loss) carried forward +€5,132
up €5,132 (+4.7%), from €109,586 to €114,718
- Gross operating margin -€14,976
down €14,976 (-11.8%), from €126,782 to €111,806
- Depreciation -€4,950
down €4,950 (-11.7%), from €42,265 to €37,315
- Staff costs +€3,596
up €3,596 (+12.8%), from €28,010 to €31,605
- Financial income +€2,730
up €2,730 (+2316.3%), from €118 to €2,848
of which Non-recurring financial income: +€2,750
- Financial charges -€2,653
down €2,653 (-92.0%), from €2,884 to €231
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 | €325,061 | €341,301 | +€16,241 | +5.0% |
| Fixed assets | 21/28 | €302,109 | €311,845 | +€9,735 | +3.2% |
| Intangible fixed assets | 21 | €32,482 | €25,982 | -€6,500 | -20.0% |
| Tangible fixed assets | 22/27 | €269,627 | €285,862 | +€16,235 | +6.0% |
| Plant, machinery and equipment | 23 | €16,524 | €23,902 | +€7,377 | +44.6% |
| Furniture and vehicles | 24 | €23,991 | €35,242 | +€11,251 | +46.9% |
| Other tangible fixed assets | 26 | €229,112 | €226,719 | -€2,393 | -1.0% |
| Current assets | 29/58 | €22,952 | €29,457 | +€6,505 | +28.3% |
| Amounts receivable within one year | 40/41 | €8,534 | €7,197 | -€1,337 | -15.7% |
| Trade receivables | 40 | €4,343 | €14 | -€4,330 | -99.7% |
| Other amounts receivable | 41 | €4,190 | €7,183 | +€2,993 | +71.4% |
| Cash at bank and in hand | 54/58 | €13,404 | €22,260 | +€8,856 | +66.1% |
| Deferred charges and accrued income | 490/1 | €1,015 | - | -€1,015 | |
| Total equity and liabilities | 10/49 | €325,061 | €341,301 | +€16,241 | +5.0% |
| Equity | 10/15 | €135,208 | €140,341 | +€5,132 | +3.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Capital | 10 | €25,000 | €25,000 | = | 0.0% |
| Issued capital | 100 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €623 | €623 | = | 0.0% |
| Tax-exempt reserves | 132 | €623 | €623 | = | 0.0% |
| Profit (loss) carried forward | 14 | €109,586 | €114,718 | +€5,132 | +4.7% |
| Amounts payable | 17/49 | €189,852 | €200,961 | +€11,108 | +5.9% |
| Amounts payable after more than one year | 17 | €6,875 | - | -€6,875 | |
| Financial debts | 170/4 | €6,875 | - | -€6,875 | |
| Amounts payable within one year | 42/48 | €182,977 | €200,961 | +€17,983 | +9.8% |
| Trade debts | 44 | €10,673 | €24,168 | +€13,495 | +126.4% |
| Suppliers | 440/4 | €10,673 | €24,168 | +€13,495 | +126.4% |
| Advances received on contracts in progress | 46 | - | €1,000 | +€1,000 | |
| Taxes, remuneration and social security | 45 | €1,701 | €4,274 | +€2,573 | +151.3% |
| Taxes | 450/3 | €1,082 | €1,646 | +€564 | +52.2% |
| Remuneration and social security | 454/9 | €619 | €2,628 | +€2,009 | +324.4% |
| Other amounts payable | 47/48 | €170,603 | €171,519 | +€915 | +0.5% |
| Remuneration, social security and pensions | 62 | €28,010 | €31,605 | +€3,596 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,265 | €37,315 | -€4,950 | -11.7% |
| Other operating charges | 640/8 | €6,009 | €4,282 | -€1,728 | -28.7% |
| Gross operating margin | 9900 | €126,782 | €111,806 | -€14,976 | -11.8% |
| Operating profit (loss) | 9901 | €50,498 | €38,604 | -€11,894 | -23.6% |
| Financial income | 75/76B | €118 | €2,848 | +€2,730 | +2316.3% |
| Recurring financial income | 75 | €118 | €98 | -€20 | -16.6% |
| Non-recurring financial income | 76B | - | €2,750 | +€2,750 | |
| Financial charges | 65/66B | €2,884 | €231 | -€2,653 | -92.0% |
| Recurring financial charges | 65 | €2,884 | €231 | -€2,653 | -92.0% |
| Profit (loss) for the period before taxes | 9903 | €47,732 | €41,221 | -€6,511 | -13.6% |
| Income taxes | 67/77 | €1,082 | €1,089 | +€8 | +0.7% |
| Profit (loss) for the period | 9904 | €46,650 | €40,132 | -€6,518 | -14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €46,650 | €40,132 | -€6,518 | -14.0% |
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 12 October 2026 via checked.be.