Noyon Frederic: 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.
Noyon Frederic
Largest movements
- Cash +€44,236
up €44,236 (+52.2%), from €84,803 to €129,039
mainly Net result for the year (+€61,938) and Current investments (+€28,970)
- Current investments -€28,970
down €28,970 (-32.3%), from €89,754 to €60,784
- Receivables within one year +€20,483
up €20,483 (+14.3%), from €142,938 to €163,421
of which Other amounts receivable: +€19,483
- Reserves +€61,938
up €61,938 (+22.3%), from €278,273 to €340,211
- Other debts -€29,005
down €29,005 (-100.0%), from €29,005 to €0
- Other operating charges -€2,957
down €2,957 (-78.1%), from €3,787 to €830
- Financial charges +€2,809
up €2,809 (+484.6%), from €580 to €3,389
- Gross operating margin +€2,789
up €2,789 (+3.1%), from €90,840 to €93,629
- Taxes +€1,456
up €1,456 (+6.2%), from €23,628 to €25,084
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 | €343,862 | €378,417 | +€34,554 | +10.0% |
| Fixed assets | 21/28 | €23,785 | €23,832 | +€48 | +0.2% |
| Tangible fixed assets | 22/27 | €23,785 | €23,832 | +€48 | +0.2% |
| Land and buildings | 22 | €18,321 | €17,841 | -€480 | -2.6% |
| Furniture and vehicles | 24 | €5,464 | €5,992 | +€528 | +9.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €320,078 | €354,584 | +€34,507 | +10.8% |
| Amounts receivable within one year | 40/41 | €142,938 | €163,421 | +€20,483 | +14.3% |
| Trade receivables | 40 | - | €1,000 | +€1,000 | |
| Other amounts receivable | 41 | €142,938 | €162,421 | +€19,483 | +13.6% |
| Current investments | 50/53 | €89,754 | €60,784 | -€28,970 | -32.3% |
| Cash at bank and in hand | 54/58 | €84,803 | €129,039 | +€44,236 | +52.2% |
| Deferred charges and accrued income | 490/1 | €2,583 | €1,340 | -€1,243 | -48.1% |
| Total equity and liabilities | 10/49 | €343,862 | €378,417 | +€34,554 | +10.0% |
| Equity | 10/15 | €284,473 | €346,411 | +€61,938 | +21.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €278,273 | €340,211 | +€61,938 | +22.3% |
| Distributable reserves | 133 | €278,273 | €340,211 | +€61,938 | +22.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €59,389 | €32,005 | -€27,384 | -46.1% |
| Amounts payable within one year | 42/48 | €59,389 | €32,005 | -€27,384 | -46.1% |
| Trade debts | 44 | €2,462 | €1,231 | -€1,230 | -50.0% |
| Suppliers | 440/4 | €2,462 | €1,231 | -€1,230 | -50.0% |
| Taxes, remuneration and social security | 45 | €27,922 | €30,774 | +€2,851 | +10.2% |
| Taxes | 450/3 | €27,922 | €30,774 | +€2,851 | +10.2% |
| Other amounts payable | 47/48 | €29,005 | €0 | -€29,005 | -100.0% |
| Non-recurring operating income | 76A | €3,809 | €0 | -€3,809 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,124 | €4,196 | +€72 | +1.7% |
| Other operating charges | 640/8 | €3,787 | €830 | -€2,957 | -78.1% |
| Gross operating margin | 9900 | €90,840 | €93,629 | +€2,789 | +3.1% |
| Operating profit (loss) | 9901 | €82,929 | €88,603 | +€5,674 | +6.8% |
| Financial income | 75/76B | €1,397 | €1,808 | +€412 | +29.5% |
| Recurring financial income | 75 | €1,397 | €1,808 | +€412 | +29.5% |
| Financial charges | 65/66B | €580 | €3,389 | +€2,809 | +484.6% |
| Recurring financial charges | 65 | €580 | €3,389 | +€2,809 | +484.6% |
| Profit (loss) for the period before taxes | 9903 | €83,746 | €87,022 | +€3,277 | +3.9% |
| Income taxes | 67/77 | €23,628 | €25,084 | +€1,456 | +6.2% |
| Profit (loss) for the period | 9904 | €60,118 | €61,938 | +€1,820 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,118 | €61,938 | +€1,820 | +3.0% |
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.