Sten Noyens: 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.
Sten Noyens
Largest movements
- Cash -€47,140
down €47,140 (-99.7%), from €47,302 to €163
mainly Net result for the year (-€51,811) and Tax, wage and social debts (-€7,626)
- Receivables within one year -€5,048
down €5,048 (-89.1%), from €5,664 to €615
of which Trade receivables: -€2,682
- Tangible fixed assets -€1,411
down €1,411 (-79.2%), from €1,783 to €371
of which Furniture and vehicles: -€868
- Profit (loss) carried forward -€51,811
new in 2025: -€51,811
- Tax, wage and social debts -€7,626
down €7,626 (-56.7%), from €13,438 to €5,812
of which Taxes: -€7,626
- Other debts +€7,092
new in 2025: €7,092
- Trade debts -€1,254
down €1,254 (-65.0%), from €1,928 to €675
- Gross operating margin -€50,432
down €50,432, from €12,535 to -€37,897
- Other operating charges +€3,226
up €3,226 (+379%), from €850 to €4,077
- Taxes -€2,604
down €2,604 (-96.5%), from €2,698 to €94
- Financial charges -€821
down €821 (-68.4%), from €1,200 to €380
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 | €54,749 | €1,149 | -€53,599 | -97.9% |
| Fixed assets | 21/28 | €1,783 | €371 | -€1,411 | -79.2% |
| Tangible fixed assets | 22/27 | €1,783 | €371 | -€1,411 | -79.2% |
| Plant, machinery and equipment | 23 | €543 | - | -€543 | |
| Furniture and vehicles | 24 | €1,239 | €371 | -€868 | -70.1% |
| Current assets | 29/58 | €52,966 | €778 | -€52,188 | -98.5% |
| Amounts receivable within one year | 40/41 | €5,664 | €615 | -€5,048 | -89.1% |
| Trade receivables | 40 | €2,682 | - | -€2,682 | |
| Other amounts receivable | 41 | €2,982 | €615 | -€2,367 | -79.4% |
| Cash at bank and in hand | 54/58 | €47,302 | €163 | -€47,140 | -99.7% |
| Total equity and liabilities | 10/49 | €54,749 | €1,149 | -€53,599 | -97.9% |
| Equity | 10/15 | €39,382 | -€12,430 | -€51,811 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €36,882 | €36,882 | = | 0.0% |
| Distributable reserves | 133 | €36,882 | €36,882 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€51,811 | -€51,811 | |
| Amounts payable | 17/49 | €15,367 | €13,579 | -€1,788 | -11.6% |
| Amounts payable within one year | 42/48 | €15,367 | €13,579 | -€1,788 | -11.6% |
| Trade debts | 44 | €1,928 | €675 | -€1,254 | -65.0% |
| Suppliers | 440/4 | €1,928 | €675 | -€1,254 | -65.0% |
| Taxes, remuneration and social security | 45 | €13,438 | €5,812 | -€7,626 | -56.7% |
| Taxes | 450/3 | €11,176 | €3,550 | -€7,626 | -68.2% |
| Remuneration and social security | 454/9 | €2,262 | €2,262 | = | 0.0% |
| Other amounts payable | 47/48 | - | €7,092 | +€7,092 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,450 | €1,411 | -€38 | -2.6% |
| Other operating charges | 640/8 | €850 | €4,077 | +€3,226 | +379% |
| Non-recurring operating charges | 66A | - | €7,976 | +€7,976 | |
| Gross operating margin | 9900 | €12,535 | -€37,897 | -€50,432 | |
| Operating profit (loss) | 9901 | €10,235 | -€51,361 | -€61,596 | |
| Financial income | 75/76B | €22 | €24 | +€1 | +5.3% |
| Recurring financial income | 75 | €22 | €24 | +€1 | +5.3% |
| Financial charges | 65/66B | €1,200 | €380 | -€821 | -68.4% |
| Recurring financial charges | 65 | €1,200 | €380 | -€821 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €9,057 | -€51,718 | -€60,774 | |
| Income taxes | 67/77 | €2,698 | €94 | -€2,604 | -96.5% |
| Profit (loss) for the period | 9904 | €6,358 | -€51,811 | -€58,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,358 | -€51,811 | -€58,170 |
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 18 October 2026 via checked.be.