LE NOROIS: 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.
LE NOROIS
Largest movements
- Deferred charges and accrued income -€32,223
down €32,223 (-48.8%), from €66,032 to €33,808
- Tangible fixed assets -€20,102
down €20,102 (-6.4%), from €315,989 to €295,887
of which Land and buildings: -€19,770
- Cash +€7,297
up €7,297 (+2.7%), from €269,111 to €276,408
mainly Deferred charges and accrued income (+€32,223) and Depreciation (+€23,468)
- Debts after one year -€16,678
down €16,678 (-11.3%), from €148,046 to €131,368
- Profit (loss) carried forward -€16,021
down €16,021 (-8.1%), from €198,970 to €182,949
- Trade debts -€9,725
down €9,725 (-82.5%), from €11,788 to €2,063
- Tax, wage and social debts +€9,106
up €9,106 (+11.2%), from €81,366 to €90,472
of which Taxes: +€4,980
- Accrued charges and deferred income -€7,000
down €7,000 (-15.5%), from €45,222 to €38,222
- Staff costs +€19,369
up €19,369 (+2.7%), from €728,788 to €748,157
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 | €665,794 | €619,812 | -€45,981 | -6.9% |
| Fixed assets | 21/28 | €323,457 | €301,630 | -€21,827 | -6.7% |
| Intangible fixed assets | 21 | €7,468 | €5,743 | -€1,725 | -23.1% |
| Tangible fixed assets | 22/27 | €315,989 | €295,887 | -€20,102 | -6.4% |
| Land and buildings | 22 | €311,054 | €291,284 | -€19,770 | -6.4% |
| Furniture and vehicles | 24 | €4,934 | €4,603 | -€332 | -6.7% |
| Current assets | 29/58 | €342,337 | €318,183 | -€24,154 | -7.1% |
| Amounts receivable within one year | 40/41 | €7,194 | €7,967 | +€772 | +10.7% |
| Trade receivables | 40 | €5,542 | €3,836 | -€1,706 | -30.8% |
| Other amounts receivable | 41 | €1,652 | €4,131 | +€2,479 | +150% |
| Cash at bank and in hand | 54/58 | €269,111 | €276,408 | +€7,297 | +2.7% |
| Deferred charges and accrued income | 490/1 | €66,032 | €33,808 | -€32,223 | -48.8% |
| Total equity and liabilities | 10/49 | €665,794 | €619,812 | -€45,981 | -6.9% |
| Equity | 10/15 | €331,334 | €309,009 | -€22,324 | -6.7% |
| Profit (loss) carried forward | 14 | €198,970 | €182,949 | -€16,021 | -8.1% |
| Investment grants | 15 | €132,364 | €126,061 | -€6,303 | -4.8% |
| Provisions and deferred taxes | 16 | €32,000 | €32,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €32,000 | €32,000 | = | 0.0% |
| Environmental obligations | 163 | €32,000 | €32,000 | = | 0.0% |
| Amounts payable | 17/49 | €302,460 | €278,803 | -€23,657 | -7.8% |
| Amounts payable after more than one year | 17 | €148,046 | €131,368 | -€16,678 | -11.3% |
| Financial debts | 170/4 | €148,046 | €131,368 | -€16,678 | -11.3% |
| Amounts payable within one year | 42/48 | €109,192 | €109,213 | +€21 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €16,038 | €16,678 | +€640 | +4.0% |
| Trade debts | 44 | €11,788 | €2,063 | -€9,725 | -82.5% |
| Suppliers | 440/4 | €11,788 | €2,063 | -€9,725 | -82.5% |
| Taxes, remuneration and social security | 45 | €81,366 | €90,472 | +€9,106 | +11.2% |
| Taxes | 450/3 | - | €4,980 | +€4,980 | |
| Remuneration and social security | 454/9 | €81,366 | €85,492 | +€4,126 | +5.1% |
| Accrued charges and deferred income | 492/3 | €45,222 | €38,222 | -€7,000 | -15.5% |
| Remuneration, social security and pensions | 62 | €728,788 | €748,157 | +€19,369 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,192 | €23,468 | +€276 | +1.2% |
| Other operating charges | 640/8 | €970 | - | -€970 | |
| Non-recurring operating charges | 66A | €43 | - | -€43 | |
| Gross operating margin | 9900 | €759,656 | €764,659 | +€5,003 | +0.7% |
| Operating profit (loss) | 9901 | €6,663 | -€6,966 | -€13,629 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €7,506 | €9,055 | +€1,549 | +20.6% |
| Recurring financial charges | 65 | €7,506 | €9,055 | +€1,549 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | -€844 | -€16,021 | -€15,178 | -1,799% |
| Profit (loss) for the period | 9904 | -€844 | -€16,021 | -€15,178 | -1,799% |
| Profit (loss) for the period to be appropriated | 9905 | -€844 | -€16,021 | -€15,178 | -1,799% |
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 23 October 2026 via checked.be.