FNORRENOV: 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.
FNORRENOV
Largest movements
- Receivables within one year +€7,002
up €7,002 (+20.1%), from €34,917 to €41,919
of which Other amounts receivable: +€10,416
- Cash -€6,960
down €6,960 (-72.1%), from €9,654 to €2,694
mainly Trade debts (-€7,784) and Receivables within one year (-€7,002)
- Deferred charges and accrued income -€4,316
down €4,316 (-36.7%), from €11,745 to €7,429
- Tangible fixed assets -€2,223
down €2,223 (-73.6%), from €3,019 to €797
- Reserves +€8,498
up €8,498 (+27.8%), from €30,537 to €39,034
- Trade debts -€7,784
down €7,784 (-67.0%), from €11,616 to €3,832
- Tax, wage and social debts -€6,352
down €6,352 (-45.5%), from €13,954 to €7,602
- Other debts -€859
no longer reported in 2025 (was €859)
- Gross operating margin +€17,984
up €17,984 (+256%), from €7,032 to €25,016
- Other operating charges +€8,166
up €8,166 (+256%), from €3,191 to €11,357
- Taxes +€2,231
up €2,231 (+626%), from €357 to €2,588
- Financial charges +€628
up €628 (+189%), from €331 to €959
- Depreciation -€457
down €457 (-22.0%), from €2,071 to €1,615
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 | €59,966 | €53,469 | -€6,497 | -10.8% |
| Fixed assets | 21/28 | €3,649 | €1,427 | -€2,223 | -60.9% |
| Tangible fixed assets | 22/27 | €3,019 | €797 | -€2,223 | -73.6% |
| Furniture and vehicles | 24 | €3,019 | €797 | -€2,223 | -73.6% |
| Financial fixed assets | 28 | €630 | €630 | = | 0.0% |
| Current assets | 29/58 | €56,317 | €52,042 | -€4,274 | -7.6% |
| Amounts receivable within one year | 40/41 | €34,917 | €41,919 | +€7,002 | +20.1% |
| Trade receivables | 40 | €15,141 | €11,726 | -€3,414 | -22.6% |
| Other amounts receivable | 41 | €19,777 | €30,193 | +€10,416 | +52.7% |
| Cash at bank and in hand | 54/58 | €9,654 | €2,694 | -€6,960 | -72.1% |
| Deferred charges and accrued income | 490/1 | €11,745 | €7,429 | -€4,316 | -36.7% |
| Total equity and liabilities | 10/49 | €59,966 | €53,469 | -€6,497 | -10.8% |
| Equity | 10/15 | €33,537 | €42,034 | +€8,498 | +25.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €30,537 | €39,034 | +€8,498 | +27.8% |
| Distributable reserves | 133 | €30,537 | €39,034 | +€8,498 | +27.8% |
| Amounts payable | 17/49 | €26,430 | €11,435 | -€14,995 | -56.7% |
| Amounts payable within one year | 42/48 | €26,430 | €11,435 | -€14,995 | -56.7% |
| Trade debts | 44 | €11,616 | €3,832 | -€7,784 | -67.0% |
| Suppliers | 440/4 | €11,616 | €3,832 | -€7,784 | -67.0% |
| Taxes, remuneration and social security | 45 | €13,954 | €7,602 | -€6,352 | -45.5% |
| Taxes | 450/3 | €13,954 | €7,602 | -€6,352 | -45.5% |
| Other amounts payable | 47/48 | €859 | - | -€859 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,071 | €1,615 | -€457 | -22.0% |
| Other operating charges | 640/8 | €3,191 | €11,357 | +€8,166 | +256% |
| Gross operating margin | 9900 | €7,032 | €25,016 | +€17,984 | +256% |
| Operating profit (loss) | 9901 | €1,770 | €12,044 | +€10,275 | +581% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €331 | €959 | +€628 | +189% |
| Recurring financial charges | 65 | €331 | €959 | +€628 | +189% |
| Profit (loss) for the period before taxes | 9903 | €1,439 | €11,086 | +€9,647 | +670% |
| Income taxes | 67/77 | €357 | €2,588 | +€2,231 | +626% |
| Profit (loss) for the period | 9904 | €1,082 | €8,498 | +€7,416 | +685% |
| Profit (loss) for the period to be appropriated | 9905 | €1,082 | €8,498 | +€7,416 | +685% |
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.