SPRL NOEL-BALON: 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.
SPRL NOEL-BALON
Largest movements
- Cash -€27,628
down €27,628 (-21.5%), from €128,561 to €100,933
mainly Trade debts (-€36,573) and Investment in fixed assets (net) (-€32,826)
- Stocks and contracts -€19,902
down €19,902 (-10.7%), from €186,192 to €166,290
- Receivables within one year +€5,898
up €5,898 (+6.0%), from €97,751 to €103,650
of which Trade receivables: +€14,442
- Trade debts -€36,573
down €36,573 (-16.3%), from €224,155 to €187,581
- Profit (loss) carried forward +€16,876
up €16,876 (+44.3%), from €38,103 to €54,979
- Tax, wage and social debts -€13,790
down €13,790 (-25.7%), from €53,689 to €39,899
of which Remuneration and social security: -€13,032
- Reserves +€10,000
up €10,000 (+23.3%), from €43,000 to €53,000
- Debts after one year -€8,366
down €8,366 (-19.7%), from €42,473 to €34,106
- Gross operating margin +€17,972
up €17,972 (+6.1%), from €292,405 to €310,377
- Depreciation +€6,912
up €6,912 (+28.3%), from €24,393 to €31,306
- Taxes +€3,199
up €3,199 (+26.4%), from €12,138 to €15,337
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 | €496,832 | €458,860 | -€37,972 | -7.6% |
| Fixed assets | 21/28 | €76,695 | €78,215 | +€1,520 | +2.0% |
| Tangible fixed assets | 22/27 | €76,342 | €77,863 | +€1,520 | +2.0% |
| Land and buildings | 22 | - | €2,864 | +€2,864 | |
| Plant, machinery and equipment | 23 | €13,837 | €9,711 | -€4,127 | -29.8% |
| Furniture and vehicles | 24 | €62,505 | €65,287 | +€2,782 | +4.5% |
| Financial fixed assets | 28 | €352 | €352 | = | 0.0% |
| Current assets | 29/58 | €420,137 | €380,645 | -€39,493 | -9.4% |
| Stocks and contracts in progress | 3 | €186,192 | €166,290 | -€19,902 | -10.7% |
| Stocks | 30/36 | €186,192 | €166,290 | -€19,902 | -10.7% |
| Amounts receivable within one year | 40/41 | €97,751 | €103,650 | +€5,898 | +6.0% |
| Trade receivables | 40 | €71,346 | €85,788 | +€14,442 | +20.2% |
| Other amounts receivable | 41 | €26,405 | €17,862 | -€8,544 | -32.4% |
| Cash at bank and in hand | 54/58 | €128,561 | €100,933 | -€27,628 | -21.5% |
| Deferred charges and accrued income | 490/1 | €7,633 | €9,773 | +€2,140 | +28.0% |
| Total equity and liabilities | 10/49 | €496,832 | €458,860 | -€37,972 | -7.6% |
| Equity | 10/15 | €111,103 | €137,979 | +€26,876 | +24.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €43,000 | €53,000 | +€10,000 | +23.3% |
| Distributable reserves | 133 | €43,000 | €53,000 | +€10,000 | +23.3% |
| Profit (loss) carried forward | 14 | €38,103 | €54,979 | +€16,876 | +44.3% |
| Amounts payable | 17/49 | €385,729 | €320,881 | -€64,848 | -16.8% |
| Amounts payable after more than one year | 17 | €42,473 | €34,106 | -€8,366 | -19.7% |
| Financial debts | 170/4 | €42,473 | €34,106 | -€8,366 | -19.7% |
| Amounts payable within one year | 42/48 | €343,257 | €286,775 | -€56,482 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €50,825 | €44,842 | -€5,983 | -11.8% |
| Trade debts | 44 | €224,155 | €187,581 | -€36,573 | -16.3% |
| Suppliers | 440/4 | €224,155 | €187,581 | -€36,573 | -16.3% |
| Taxes, remuneration and social security | 45 | €53,689 | €39,899 | -€13,790 | -25.7% |
| Taxes | 450/3 | €21,134 | €20,376 | -€758 | -3.6% |
| Remuneration and social security | 454/9 | €32,555 | €19,523 | -€13,032 | -40.0% |
| Other amounts payable | 47/48 | €14,587 | €14,452 | -€135 | -0.9% |
| Remuneration, social security and pensions | 62 | €207,919 | €207,240 | -€679 | -0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,393 | €31,306 | +€6,912 | +28.3% |
| Other operating charges | 640/8 | €8,343 | €8,966 | +€623 | +7.5% |
| Gross operating margin | 9900 | €292,405 | €310,377 | +€17,972 | +6.1% |
| Operating profit (loss) | 9901 | €51,749 | €62,865 | +€11,116 | +21.5% |
| Financial income | 75/76B | €1,074 | €837 | -€237 | -22.1% |
| Recurring financial income | 75 | €1,074 | €837 | -€237 | -22.1% |
| Financial charges | 65/66B | €7,246 | €7,203 | -€43 | -0.6% |
| Recurring financial charges | 65 | €7,246 | €7,203 | -€43 | -0.6% |
| Profit (loss) for the period before taxes | 9903 | €45,577 | €56,499 | +€10,922 | +24.0% |
| Income taxes | 67/77 | €12,138 | €15,337 | +€3,199 | +26.4% |
| Profit (loss) for the period | 9904 | €33,438 | €41,162 | +€7,723 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,438 | €41,162 | +€7,723 | +23.1% |
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 29 October 2026 via checked.be.