GA NORO: 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.
GA NORO
Largest movements
- Receivables within one year -€5,148
down €5,148 (-99.8%), from €5,159 to €11
of which Trade receivables: -€5,159
- Cash +€418
up €418 (+124%), from €338 to €756
mainly Receivables within one year (+€5,148) and Other debts (+€638)
- Trade debts -€4,071
down €4,071 (-100%), from €4,071 to €0
- Advances received -€772
down €772 (-100%), from €772 to €0
- Other debts +€638
up €638 (+9.0%), from €7,105 to €7,743
- Profit (loss) carried forward -€495
down €495 (-3.6%), from -€13,877 to -€14,372
- Gross operating margin +€5,296
up €5,296 (+93.7%), from -€5,650 to -€354
- Other operating charges -€709
down €709 (-91.5%), from €775 to €66
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 | €5,497 | €767 | -€4,729 | -86.0% |
| Current assets | 29/58 | €5,497 | €767 | -€4,729 | -86.0% |
| Amounts receivable within one year | 40/41 | €5,159 | €11 | -€5,148 | -99.8% |
| Trade receivables | 40 | €5,159 | €0 | -€5,159 | -100% |
| Other amounts receivable | 41 | €0 | €11 | +€11 | |
| Cash at bank and in hand | 54/58 | €338 | €756 | +€418 | +124% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €5,497 | €767 | -€4,729 | -86.0% |
| Equity | 10/15 | -€6,481 | -€6,975 | -€495 | -7.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,196 | €1,196 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,196 | €1,196 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,196 | €1,196 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,877 | -€14,372 | -€495 | -3.6% |
| Amounts payable | 17/49 | €11,977 | €7,743 | -€4,235 | -35.4% |
| Amounts payable within one year | 42/48 | €11,977 | €7,743 | -€4,235 | -35.4% |
| Trade debts | 44 | €4,071 | €0 | -€4,071 | -100% |
| Suppliers | 440/4 | €4,071 | €0 | -€4,071 | -100% |
| Advances received on contracts in progress | 46 | €772 | €0 | -€772 | -100% |
| Taxes, remuneration and social security | 45 | €30 | €0 | -€30 | -100% |
| Taxes | 450/3 | €30 | €0 | -€30 | -100% |
| Other amounts payable | 47/48 | €7,105 | €7,743 | +€638 | +9.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €775 | €66 | -€709 | -91.5% |
| Non-recurring operating charges | 66A | €3,097 | €0 | -€3,097 | -100% |
| Gross operating margin | 9900 | -€5,650 | -€354 | +€5,296 | +93.7% |
| Operating profit (loss) | 9901 | -€9,522 | -€420 | +€9,103 | +95.6% |
| Financial charges | 65/66B | €115 | €75 | -€40 | -34.5% |
| Recurring financial charges | 65 | €115 | €75 | -€40 | -34.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,637 | -€495 | +€9,142 | +94.9% |
| Profit (loss) for the period | 9904 | -€9,637 | -€495 | +€9,142 | +94.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,637 | -€495 | +€9,142 | +94.9% |
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 19 October 2026 via checked.be.