DE NOORMAN: 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.
DE NOORMAN
Largest movements
- Receivables within one year +€16,818
up €16,818 (+33.0%), from €50,962 to €67,779
of which Other amounts receivable: +€16,818
- Tangible fixed assets -€6,409
down €6,409 (-33.5%), from €19,141 to €12,732
- Cash +€3,298
up €3,298 (+2.2%), from €148,419 to €151,717
mainly Net result for the year (+€20,663) and Depreciation (+€6,409)
- Reserves +€20,663
up €20,663 (+10.1%), from €204,017 to €224,680
of which Distributable reserves: +€20,663
- Trade debts -€6,252
down €6,252 (-65.8%), from €9,505 to €3,253
- Gross operating margin -€14,812
down €14,812 (-35.3%), from €41,976 to €27,163
- Other operating charges -€749
down €749 (-25.2%), from €2,969 to €2,220
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 | €220,415 | €234,341 | +€13,926 | +6.3% |
| Fixed assets | 21/28 | €19,141 | €12,732 | -€6,409 | -33.5% |
| Tangible fixed assets | 22/27 | €19,141 | €12,732 | -€6,409 | -33.5% |
| Furniture and vehicles | 24 | €19,141 | €12,732 | -€6,409 | -33.5% |
| Current assets | 29/58 | €201,274 | €221,609 | +€20,335 | +10.1% |
| Amounts receivable within one year | 40/41 | €50,962 | €67,779 | +€16,818 | +33.0% |
| Trade receivables | 40 | €8,313 | €8,313 | = | 0.0% |
| Other amounts receivable | 41 | €42,648 | €59,466 | +€16,818 | +39.4% |
| Cash at bank and in hand | 54/58 | €148,419 | €151,717 | +€3,298 | +2.2% |
| Deferred charges and accrued income | 490/1 | €1,893 | €2,113 | +€220 | +11.6% |
| Total equity and liabilities | 10/49 | €220,415 | €234,341 | +€13,926 | +6.3% |
| Equity | 10/15 | €210,217 | €230,880 | +€20,663 | +9.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €204,017 | €224,680 | +€20,663 | +10.1% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €166,517 | €187,180 | +€20,663 | +12.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,198 | €3,461 | -€6,737 | -66.1% |
| Amounts payable within one year | 42/48 | €10,110 | €3,461 | -€6,649 | -65.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €9,505 | €3,253 | -€6,252 | -65.8% |
| Suppliers | 440/4 | €9,505 | €3,253 | -€6,252 | -65.8% |
| Taxes, remuneration and social security | 45 | €605 | €208 | -€396 | -65.6% |
| Taxes | 450/3 | €605 | €208 | -€396 | -65.6% |
| Accrued charges and deferred income | 492/3 | €89 | €0 | -€89 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,011 | €6,409 | +€398 | +6.6% |
| Other operating charges | 640/8 | €2,969 | €2,220 | -€749 | -25.2% |
| Gross operating margin | 9900 | €41,976 | €27,163 | -€14,812 | -35.3% |
| Operating profit (loss) | 9901 | €32,995 | €18,534 | -€14,461 | -43.8% |
| Financial income | 75/76B | €2,611 | €2,704 | +€93 | +3.6% |
| Recurring financial income | 75 | €2,611 | €2,704 | +€93 | +3.6% |
| Financial charges | 65/66B | €466 | €399 | -€67 | -14.4% |
| Recurring financial charges | 65 | €466 | €399 | -€67 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | €35,140 | €20,840 | -€14,301 | -40.7% |
| Income taxes | 67/77 | €174 | €176 | +€2 | +1.0% |
| Profit (loss) for the period | 9904 | €34,966 | €20,663 | -€14,303 | -40.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,966 | €20,663 | -€14,303 | -40.9% |
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 8 October 2026 via checked.be.