NOC: what changed
NOC
Largest movements
- Cash -€10,428
down €10,428 (-13.6%), from €76,826 to €66,398
mainly Net result for the year (-€47,775) and Deferred charges and accrued income (-€10,227)
- Deferred charges and accrued income +€10,227
up €10,227 (+9.2%), from €111,250 to €121,478
- Receivables within one year +€6,724
up €6,724 (+295%), from €2,276 to €9,000
of which Other amounts receivable: +€7,500
- Tangible fixed assets -€6,190
down €6,190 (-7.7%), from €79,912 to €73,722
of which Land and buildings: -€5,524
- Other debts +€48,360
up €48,360 (+49.8%), from €97,019 to €145,379
- Profit (loss) carried forward -€47,775
down €47,775 (-31.9%), from €149,914 to €102,139
- Tax, wage and social debts -€3,741
down €3,741 (-57.6%), from €6,500 to €2,759
of which Remuneration and social security: -€3,680
- Financial charges -€20,609
down €20,609 (-20.4%), from €100,839 to €80,229
- Gross operating margin +€3,623
up €3,623 (+9.6%), from €37,802 to €41,425
- Depreciation -€844
down €844 (-12.0%), from €7,035 to €6,190
Change in the result, 2024 to 2025
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 2024 and 2025 balance sheets and the 2025 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 | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €271,331 | €271,668 | +€337 | +0.1% |
| Fixed assets | 21/28 | €79,912 | €73,722 | -€6,190 | -7.7% |
| Tangible fixed assets | 22/27 | €79,912 | €73,722 | -€6,190 | -7.7% |
| Land and buildings | 22 | €78,458 | €72,934 | -€5,524 | -7.0% |
| Furniture and vehicles | 24 | €1,454 | €788 | -€666 | -45.8% |
| Current assets | 29/58 | €191,419 | €197,947 | +€6,527 | +3.4% |
| Amounts receivable within one year | 40/41 | €2,276 | €9,000 | +€6,724 | +295% |
| Trade receivables | 40 | €776 | - | -€776 | |
| Other amounts receivable | 41 | €1,500 | €9,000 | +€7,500 | +500% |
| Current investments | 50/53 | €1,066 | €1,071 | +€5 | +0.4% |
| Cash at bank and in hand | 54/58 | €76,826 | €66,398 | -€10,428 | -13.6% |
| Deferred charges and accrued income | 490/1 | €111,250 | €121,478 | +€10,227 | +9.2% |
| Total equity and liabilities | 10/49 | €271,331 | €271,668 | +€337 | +0.1% |
| Equity | 10/15 | €161,087 | €113,311 | -€47,775 | -29.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,973 | €4,973 | = | 0.0% |
| Distributable reserves | 133 | €4,973 | €4,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | €149,914 | €102,139 | -€47,775 | -31.9% |
| Amounts payable | 17/49 | €110,245 | €158,357 | +€48,112 | +43.6% |
| Amounts payable within one year | 42/48 | €110,245 | €158,357 | +€48,112 | +43.6% |
| Financial debts | 43 | €5,350 | €6,746 | +€1,395 | +26.1% |
| Credit institutions | 430/8 | €5,350 | €6,746 | +€1,395 | +26.1% |
| Trade debts | 44 | €1,376 | €3,473 | +€2,097 | +152% |
| Suppliers | 440/4 | €1,376 | €3,473 | +€2,097 | +152% |
| Taxes, remuneration and social security | 45 | €6,500 | €2,759 | -€3,741 | -57.6% |
| Taxes | 450/3 | €2,820 | €2,759 | -€61 | -2.2% |
| Remuneration and social security | 454/9 | €3,680 | - | -€3,680 | |
| Other amounts payable | 47/48 | €97,019 | €145,379 | +€48,360 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,035 | €6,190 | -€844 | -12.0% |
| Other operating charges | 640/8 | €2,069 | €2,317 | +€248 | +12.0% |
| Gross operating margin | 9900 | €37,802 | €41,425 | +€3,623 | +9.6% |
| Operating profit (loss) | 9901 | €28,698 | €32,917 | +€4,220 | +14.7% |
| Financial income | 75/76B | €6 | €13 | +€6 | +99.7% |
| Recurring financial income | 75 | €6 | €13 | +€6 | +99.7% |
| Financial charges | 65/66B | €100,839 | €80,229 | -€20,609 | -20.4% |
| Recurring financial charges | 65 | €100,839 | €80,229 | -€20,609 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | -€72,135 | -€47,300 | +€24,835 | +34.4% |
| Income taxes | 67/77 | €130 | €475 | +€345 | +265% |
| Profit (loss) for the period | 9904 | -€72,265 | -€47,775 | +€24,490 | +33.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€72,265 | -€47,775 | +€24,490 | +33.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.