ASNORMA: what changed
Two fiscal 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.
ASNORMA
Largest movements
- Cash +€60,278
up €60,278 (+115.1%), from €52,352 to €112,629
mainly Net result for the year (+€48,627) and Depreciation (+€17,021)
- Tangible fixed assets -€17,021
down €17,021 (-74.4%), from €22,876 to €5,854
of which Furniture and vehicles: -€14,941
- Receivables within one year -€8,187
down €8,187 (-23.3%), from €35,103 to €26,917
of which Trade receivables: -€8,187
- Current investments +€4,974
up €4,974 (+2.1%), from €239,998 to €244,971
- Reserves +€48,627
up €48,627 (+15.9%), from €306,792 to €355,419
of which Distributable reserves: +€48,627
- Current portion of long-term debt -€11,303
down €11,303 (-71.7%), from €15,770 to €4,467
- Accrued charges and deferred income +€4,329
new in 2025: €4,329
- Gross operating margin +€24,720
up €24,720 (+40.1%), from €61,711 to €86,430
- Taxes +€4,974
up €4,974 (+34.3%), from €14,480 to €19,454
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 | €350,328 | €390,372 | +€40,043 | +11.4% |
| Fixed assets | 21/28 | €22,876 | €5,854 | -€17,021 | -74.4% |
| Tangible fixed assets | 22/27 | €22,876 | €5,854 | -€17,021 | -74.4% |
| Plant, machinery and equipment | 23 | €4,611 | €2,530 | -€2,080 | -45.1% |
| Furniture and vehicles | 24 | €18,265 | €3,324 | -€14,941 | -81.8% |
| Current assets | 29/58 | €327,453 | €384,518 | +€57,065 | +17.4% |
| Amounts receivable within one year | 40/41 | €35,103 | €26,917 | -€8,187 | -23.3% |
| Trade receivables | 40 | €35,103 | €26,917 | -€8,187 | -23.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €239,998 | €244,971 | +€4,974 | +2.1% |
| Cash at bank and in hand | 54/58 | €52,352 | €112,629 | +€60,278 | +115.1% |
| Total equity and liabilities | 10/49 | €350,328 | €390,372 | +€40,043 | +11.4% |
| Equity | 10/15 | €312,992 | €361,619 | +€48,627 | +15.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €306,792 | €355,419 | +€48,627 | +15.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €304,932 | €353,559 | +€48,627 | +15.9% |
| Amounts payable | 17/49 | €37,337 | €28,753 | -€8,584 | -23.0% |
| Amounts payable after more than one year | 17 | €1,094 | €0 | -€1,094 | -100.0% |
| Financial debts | 170/4 | €1,094 | €0 | -€1,094 | -100.0% |
| Amounts payable within one year | 42/48 | €36,243 | €24,424 | -€11,819 | -32.6% |
| Current portion of amounts payable after more than one year | 42 | €15,770 | €4,467 | -€11,303 | -71.7% |
| Trade debts | 44 | €1,712 | €1,196 | -€516 | -30.1% |
| Suppliers | 440/4 | €1,712 | €1,196 | -€516 | -30.1% |
| Taxes, remuneration and social security | 45 | €7,956 | €11,454 | +€3,498 | +44.0% |
| Taxes | 450/3 | €2,000 | €11,454 | +€9,454 | +472.7% |
| Remuneration and social security | 454/9 | €5,956 | €0 | -€5,956 | -100.0% |
| Other amounts payable | 47/48 | €10,805 | €7,306 | -€3,498 | -32.4% |
| Accrued charges and deferred income | 492/3 | - | €4,329 | +€4,329 | |
| Non-recurring operating income | 76A | - | €3,200 | +€3,200 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,720 | €17,021 | +€301 | +1.8% |
| Other operating charges | 640/8 | €1,048 | €1,157 | +€109 | +10.4% |
| Non-recurring operating charges | 66A | €2,107 | €0 | -€2,107 | -100.0% |
| Gross operating margin | 9900 | €61,711 | €86,430 | +€24,720 | +40.1% |
| Operating profit (loss) | 9901 | €41,836 | €68,252 | +€26,416 | +63.1% |
| Financial income | 75/76B | €428 | €442 | +€14 | +3.2% |
| Recurring financial income | 75 | €428 | €442 | +€14 | +3.2% |
| Financial charges | 65/66B | €407 | €613 | +€205 | +50.4% |
| Recurring financial charges | 65 | €407 | €613 | +€205 | +50.4% |
| Profit (loss) for the period before taxes | 9903 | €41,856 | €68,081 | +€26,225 | +62.7% |
| Income taxes | 67/77 | €14,480 | €19,454 | +€4,974 | +34.3% |
| Profit (loss) for the period | 9904 | €27,376 | €48,627 | +€21,251 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €27,376 | €48,627 | +€21,251 | +77.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.