NOORD STER: what changed
What changed
NOORD STER
NACE 68.122, Development of non-residential building projects
filed annual accounts (NBB)
Net result for the year
€43,373
2024 · €60,972-€17,599
Equity
€5.5m
2024 · €5.5m-€1,627
Cash
€54,645
2024 · €1.5m-€1.4m
Balance sheet total
€5.5m
2024 · €5.6m-€16,625
Largest movements
Assets
- Cash -€1.4m
down €1.4m (-96.3%), from €1.5m to €54,645
mainly Current investments (-€1.4m) and Contributions, distributions and other (-€45,000)
- Current investments +€1.4m
new in 2025: €1.4m
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial income -€21,090
down €21,090 (-45.9%), from €45,900 to €24,810
- Taxes -€5,866
down €5,866 (-28.9%), from €20,324 to €14,458
- Gross operating margin -€2,190
down €2,190 (-5.9%), from €37,006 to €34,815
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€60,972
Gross operating margin
-€2,190
Other operating charges
-€33
Financial income
-€21,090
Financial charges
-€152
Taxes
+€5,866
Result 2025
€43,373
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€29,326
Investment
-€1.4m
Financing
-€45,000
Cash 2024
€1.5m
From operations (derived)
+€29,326
Net result for the year
+€43,373
Smaller working-capital items
+€953
Other debts
-€15,000
Investment (derived)
-€1.4m
Current investments
-€1.4m
Financing
-€45,000
Contributions, distributions and other
-€45,000
Cash 2025
€54,645
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,564,243 | €5,547,618 | -€16,625 | -0.3% |
| Fixed assets | 21/28 | €4,082,607 | €4,082,607 | = | 0.0% |
| Tangible fixed assets | 22/27 | €4,082,607 | €4,082,607 | = | 0.0% |
| Land and buildings | 22 | €4,082,607 | €4,082,607 | = | 0.0% |
| Current assets | 29/58 | €1,481,636 | €1,465,011 | -€16,625 | -1.1% |
| Amounts receivable within one year | 40/41 | €11,317 | €9,432 | -€1,885 | -16.7% |
| Other amounts receivable | 41 | €11,317 | €9,432 | -€1,885 | -16.7% |
| Current investments | 50/53 | - | €1,400,000 | +€1.4m | |
| Cash at bank and in hand | 54/58 | €1,470,320 | €54,645 | -€1.4m | -96.3% |
| Deferred charges and accrued income | 490/1 | - | €934 | +€934 | |
| Total equity and liabilities | 10/49 | €5,564,243 | €5,547,618 | -€16,625 | -0.3% |
| Equity | 10/15 | €5,503,588 | €5,501,960 | -€1,627 | 0.0% |
| Contributions | 10/11 | €5,000,000 | €5,000,000 | = | 0.0% |
| Capital | 10 | €5,000,000 | €5,000,000 | = | 0.0% |
| Issued capital | 100 | €5,000,000 | €5,000,000 | = | 0.0% |
| Reserves | 13 | €500,000 | €500,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €500,000 | €500,000 | = | 0.0% |
| Legal reserve | 130 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,588 | €1,960 | -€1,627 | -45.4% |
| Amounts payable | 17/49 | €60,656 | €45,658 | -€14,998 | -24.7% |
| Amounts payable within one year | 42/48 | €60,569 | €45,569 | -€15,000 | -24.8% |
| Trade debts | 44 | €569 | €569 | = | 0.0% |
| Suppliers | 440/4 | €569 | €569 | = | 0.0% |
| Other amounts payable | 47/48 | €60,000 | €45,000 | -€15,000 | -25.0% |
| Accrued charges and deferred income | 492/3 | €87 | €89 | +€2 | +2.8% |
| Other operating charges | 640/8 | €1,286 | €1,318 | +€33 | +2.6% |
| Gross operating margin | 9900 | €37,006 | €34,815 | -€2,190 | -5.9% |
| Operating profit (loss) | 9901 | €35,720 | €33,497 | -€2,223 | -6.2% |
| Financial income | 75/76B | €45,900 | €24,810 | -€21,090 | -45.9% |
| Recurring financial income | 75 | €45,900 | €24,810 | -€21,090 | -45.9% |
| Financial charges | 65/66B | €325 | €477 | +€152 | +46.8% |
| Recurring financial charges | 65 | €325 | €477 | +€152 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | €81,296 | €57,830 | -€23,466 | -28.9% |
| Income taxes | 67/77 | €20,324 | €14,458 | -€5,866 | -28.9% |
| Profit (loss) for the period | 9904 | €60,972 | €43,373 | -€17,599 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,972 | €43,373 | -€17,599 | -28.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.