S. NOTERMAN & C°: what changed
S. NOTERMAN & C°
Largest movements
- Tangible fixed assets +€69,138
up €69,138 (+156%), from €44,457 to €113,596
of which Furniture and vehicles: +€57,724
- Receivables within one year -€38,607
down €38,607 (-65.7%), from €58,786 to €20,179
of which Trade receivables: -€38,905
- Cash +€35,548
up €35,548 (+318%), from €11,194 to €46,743
mainly Debts after one year (+€40,095) and Receivables within one year (+€38,607)
- Stocks and contracts +€7,500
new in 2026: €7,500
- Debts after one year +€40,095
up €40,095 (+238%), from €16,882 to €56,976
- Reserves +€13,141
up €13,141 (+561%), from €2,344 to €15,485
- Current portion of long-term debt +€10,124
up €10,124 (+65.7%), from €15,407 to €25,531
- Other debts +€7,793
up €7,793 (+18.6%), from €41,890 to €49,683
- Depreciation -€8,547
down €8,547 (-22.4%), from €38,153 to €29,606
- Gross operating margin +€4,036
up €4,036 (+8.5%), from €47,617 to €51,653
- Taxes +€1,835
up €1,835 (+85.5%), from €2,145 to €3,980
- Financial charges -€704
down €704 (-22.4%), from €3,143 to €2,439
- Other operating charges +€522
up €522 (+26.6%), from €1,965 to €2,487
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,438 | €188,017 | +€73,579 | +64.3% |
| Fixed assets | 21/28 | €44,457 | €113,596 | +€69,138 | +156% |
| Tangible fixed assets | 22/27 | €44,457 | €113,596 | +€69,138 | +156% |
| Plant, machinery and equipment | 23 | €4,788 | €16,203 | +€11,415 | +238% |
| Furniture and vehicles | 24 | €39,669 | €97,393 | +€57,724 | +146% |
| Current assets | 29/58 | €69,981 | €74,422 | +€4,441 | +6.3% |
| Stocks and contracts in progress | 3 | - | €7,500 | +€7,500 | |
| Stocks | 30/36 | - | €7,500 | +€7,500 | |
| Amounts receivable within one year | 40/41 | €58,786 | €20,179 | -€38,607 | -65.7% |
| Trade receivables | 40 | €55,970 | €17,065 | -€38,905 | -69.5% |
| Other amounts receivable | 41 | €2,817 | €3,114 | +€297 | +10.5% |
| Cash at bank and in hand | 54/58 | €11,194 | €46,743 | +€35,548 | +318% |
| Total equity and liabilities | 10/49 | €114,438 | €188,017 | +€73,579 | +64.3% |
| Equity | 10/15 | €34,373 | €47,514 | +€13,141 | +38.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €2,344 | €15,485 | +€13,141 | +561% |
| Distributable reserves | 133 | €2,344 | €15,485 | +€13,141 | +561% |
| Profit (loss) carried forward | 14 | €2,029 | €2,029 | = | 0.0% |
| Amounts payable | 17/49 | €80,065 | €140,504 | +€60,438 | +75.5% |
| Amounts payable after more than one year | 17 | €16,882 | €56,976 | +€40,095 | +238% |
| Financial debts | 170/4 | €16,882 | €56,976 | +€40,095 | +238% |
| Amounts payable within one year | 42/48 | €63,184 | €83,527 | +€20,344 | +32.2% |
| Current portion of amounts payable after more than one year | 42 | €15,407 | €25,531 | +€10,124 | +65.7% |
| Trade debts | 44 | €5,514 | €6,189 | +€675 | +12.2% |
| Suppliers | 440/4 | €5,514 | €6,189 | +€675 | +12.2% |
| Taxes, remuneration and social security | 45 | €373 | €2,124 | +€1,751 | +470% |
| Taxes | 450/3 | €373 | €2,124 | +€1,751 | +470% |
| Other amounts payable | 47/48 | €41,890 | €49,683 | +€7,793 | +18.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €16,788 | +€16,788 | |
| Remuneration, social security and pensions | 62 | - | €52 | +€52 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,153 | €29,606 | -€8,547 | -22.4% |
| Other operating charges | 640/8 | €1,965 | €2,487 | +€522 | +26.6% |
| Gross operating margin | 9900 | €47,617 | €51,653 | +€4,036 | +8.5% |
| Operating profit (loss) | 9901 | €7,500 | €19,508 | +€12,009 | +160% |
| Financial income | 75/76B | €72 | €51 | -€21 | -28.9% |
| Recurring financial income | 75 | €72 | €51 | -€21 | -28.9% |
| Financial charges | 65/66B | €3,143 | €2,439 | -€704 | -22.4% |
| Recurring financial charges | 65 | €3,143 | €2,439 | -€704 | -22.4% |
| Profit (loss) for the period before taxes | 9903 | €4,429 | €17,121 | +€12,692 | +287% |
| Income taxes | 67/77 | €2,145 | €3,980 | +€1,835 | +85.5% |
| Profit (loss) for the period | 9904 | €2,284 | €13,141 | +€10,857 | +475% |
| Profit (loss) for the period to be appropriated | 9905 | €2,284 | €13,141 | +€10,857 | +475% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.