Nox: 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.
Nox
Largest movements
- Receivables within one year -€180,705
down €180,705 (-35.2%), from €513,185 to €332,479
of which Trade receivables: -€221,154
- Cash -€172,974
down €172,974 (-75.5%), from €229,149 to €56,175
mainly Trade debts (-€143,641) and Other debts (-€134,510)
- Trade debts -€143,641
down €143,641 (-59.2%), from €242,719 to €99,078
- Other debts -€134,510
down €134,510 (-100.0%), from €134,510 to €0
- Tax, wage and social debts -€59,190
down €59,190 (-87.7%), from €67,494 to €8,304
of which Taxes: -€53,340
- Short-term financial debts -€20,178
down €20,178 (-11.6%), from €173,544 to €153,366
- Gross operating margin -€132,238
down €132,238 (-78.9%), from €167,702 to €35,465
- Taxes -€34,115
down €34,115 (-87.6%), from €38,945 to €4,831
- Depreciation -€9,145
down €9,145 (-42.2%), from €21,655 to €12,510
- Staff costs -€5,614
down €5,614 (-100.0%), from €5,614 to €0
- Financial income +€2,122
up €2,122 (+214.6%), from €989 to €3,111
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 | €755,727 | €407,005 | -€348,722 | -46.1% |
| Fixed assets | 21/28 | €13,202 | €18,192 | +€4,990 | +37.8% |
| Tangible fixed assets | 22/27 | €13,202 | €18,192 | +€4,990 | +37.8% |
| Furniture and vehicles | 24 | €13,202 | €18,192 | +€4,990 | +37.8% |
| Current assets | 29/58 | €742,525 | €388,813 | -€353,712 | -47.6% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €513,185 | €332,479 | -€180,705 | -35.2% |
| Trade receivables | 40 | €430,932 | €209,778 | -€221,154 | -51.3% |
| Other amounts receivable | 41 | €82,253 | €122,701 | +€40,448 | +49.2% |
| Cash at bank and in hand | 54/58 | €229,149 | €56,175 | -€172,974 | -75.5% |
| Deferred charges and accrued income | 490/1 | €191 | €159 | -€33 | -17.1% |
| Total equity and liabilities | 10/49 | €755,727 | €407,005 | -€348,722 | -46.1% |
| Equity | 10/15 | €101,751 | €103,811 | +€2,060 | +2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,151 | €85,211 | +€2,060 | +2.5% |
| Distributable reserves | 133 | €83,151 | €85,211 | +€2,060 | +2.5% |
| Amounts payable | 17/49 | €653,976 | €303,194 | -€350,782 | -53.6% |
| Amounts payable after more than one year | 17 | €25,217 | €28,071 | +€2,854 | +11.3% |
| Financial debts | 170/4 | €25,217 | €28,071 | +€2,854 | +11.3% |
| Amounts payable within one year | 42/48 | €628,759 | €275,123 | -€353,636 | -56.2% |
| Current portion of amounts payable after more than one year | 42 | €10,493 | €14,374 | +€3,882 | +37.0% |
| Financial debts | 43 | €173,544 | €153,366 | -€20,178 | -11.6% |
| Credit institutions | 430/8 | €173,544 | €153,366 | -€20,178 | -11.6% |
| Trade debts | 44 | €242,719 | €99,078 | -€143,641 | -59.2% |
| Suppliers | 440/4 | €242,719 | €99,078 | -€143,641 | -59.2% |
| Taxes, remuneration and social security | 45 | €67,494 | €8,304 | -€59,190 | -87.7% |
| Taxes | 450/3 | €61,644 | €8,304 | -€53,340 | -86.5% |
| Remuneration and social security | 454/9 | €5,850 | €0 | -€5,850 | -100.0% |
| Other amounts payable | 47/48 | €134,510 | €0 | -€134,510 | -100.0% |
| Remuneration, social security and pensions | 62 | €5,614 | €0 | -€5,614 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,655 | €12,510 | -€9,145 | -42.2% |
| Other operating charges | 640/8 | €8,036 | €8,215 | +€179 | +2.2% |
| Gross operating margin | 9900 | €167,702 | €35,465 | -€132,238 | -78.9% |
| Operating profit (loss) | 9901 | €132,397 | €14,740 | -€117,657 | -88.9% |
| Financial income | 75/76B | €989 | €3,111 | +€2,122 | +214.6% |
| Recurring financial income | 75 | €989 | €3,111 | +€2,122 | +214.6% |
| Financial charges | 65/66B | €11,748 | €10,960 | -€788 | -6.7% |
| Recurring financial charges | 65 | €11,748 | €10,960 | -€788 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €121,638 | €6,890 | -€114,747 | -94.3% |
| Income taxes | 67/77 | €38,945 | €4,831 | -€34,115 | -87.6% |
| Profit (loss) for the period | 9904 | €82,693 | €2,060 | -€80,633 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €82,693 | €2,060 | -€80,633 | -97.5% |
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.