NOORDAM: 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.
NOORDAM
Largest movements
- Tangible fixed assets -€82,425
down €82,425 (-4.3%), from €1.9m to €1.8m
of which Land and buildings: -€68,089
- Cash +€28,131
up €28,131 (+33.2%), from €84,816 to €112,947
mainly Depreciation (+€83,561) and Net result for the year (+€63,190)
- Debts after one year -€66,000
down €66,000 (-20.8%), from €317,700 to €251,700
of which Financial debts: -€66,000
- Reserves +€63,190
up €63,190 (+7.6%), from €831,711 to €894,901
of which Distributable reserves: +€123,190
- Other debts -€50,540
down €50,540 (-33.5%), from €151,018 to €100,478
- Other operating charges -€21,549
down €21,549 (-74.9%), from €28,778 to €7,229
- Financial charges -€8,300
down €8,300 (-29.1%), from €28,569 to €20,269
- Taxes +€7,347
up €7,347 (+33.1%), from €22,203 to €29,551
- Gross operating margin -€6,558
down €6,558 (-3.1%), from €211,520 to €204,962
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 | €2,046,251 | €1,995,599 | -€50,651 | -2.5% |
| Fixed assets | 21/28 | €1,912,336 | €1,829,910 | -€82,425 | -4.3% |
| Tangible fixed assets | 22/27 | €1,912,336 | €1,829,910 | -€82,425 | -4.3% |
| Land and buildings | 22 | €1,862,527 | €1,794,438 | -€68,089 | -3.7% |
| Plant, machinery and equipment | 23 | €11,021 | €5,347 | -€5,674 | -51.5% |
| Furniture and vehicles | 24 | €38,787 | €30,125 | -€8,663 | -22.3% |
| Current assets | 29/58 | €133,915 | €165,689 | +€31,774 | +23.7% |
| Stocks and contracts in progress | 3 | €952 | €1,092 | +€140 | +14.7% |
| Stocks | 30/36 | €952 | €1,092 | +€140 | +14.7% |
| Amounts receivable within one year | 40/41 | €39,244 | €42,556 | +€3,312 | +8.4% |
| Trade receivables | 40 | €39,242 | €42,554 | +€3,312 | +8.4% |
| Other amounts receivable | 41 | €2 | €2 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €84,816 | €112,947 | +€28,131 | +33.2% |
| Deferred charges and accrued income | 490/1 | €8,904 | €9,094 | +€190 | +2.1% |
| Total equity and liabilities | 10/49 | €2,046,251 | €1,995,599 | -€50,651 | -2.5% |
| Equity | 10/15 | €1,486,774 | €1,549,964 | +€63,190 | +4.3% |
| Contributions | 10/11 | €655,063 | €655,063 | = | 0.0% |
| Reserves | 13 | €831,711 | €894,901 | +€63,190 | +7.6% |
| Non-distributable reserves | 130/1 | €60,000 | €0 | -€60,000 | -100% |
| Reserves not available under the articles | 1311 | €60,000 | €0 | -€60,000 | -100% |
| Distributable reserves | 133 | €771,711 | €894,901 | +€123,190 | +16.0% |
| Amounts payable | 17/49 | €559,477 | €445,635 | -€113,841 | -20.3% |
| Amounts payable after more than one year | 17 | €317,700 | €251,700 | -€66,000 | -20.8% |
| Financial debts | 170/4 | €315,000 | €249,000 | -€66,000 | -21.0% |
| Other amounts payable | 178/9 | €2,700 | €2,700 | = | 0.0% |
| Amounts payable within one year | 42/48 | €241,431 | €193,133 | -€48,298 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €66,000 | €66,000 | = | 0.0% |
| Trade debts | 44 | €8,212 | €8,046 | -€166 | -2.0% |
| Suppliers | 440/4 | €8,212 | €8,046 | -€166 | -2.0% |
| Taxes, remuneration and social security | 45 | €16,200 | €18,609 | +€2,409 | +14.9% |
| Taxes | 450/3 | €16,038 | €18,609 | +€2,571 | +16.0% |
| Remuneration and social security | 454/9 | €162 | €0 | -€162 | -100% |
| Other amounts payable | 47/48 | €151,018 | €100,478 | -€50,540 | -33.5% |
| Accrued charges and deferred income | 492/3 | €346 | €802 | +€456 | +132% |
| Remuneration, social security and pensions | 62 | €3,747 | €3,267 | -€480 | -12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,433 | €83,561 | +€128 | +0.2% |
| Other operating charges | 640/8 | €28,778 | €7,229 | -€21,549 | -74.9% |
| Gross operating margin | 9900 | €211,520 | €204,962 | -€6,558 | -3.1% |
| Operating profit (loss) | 9901 | €95,561 | €110,905 | +€15,343 | +16.1% |
| Financial income | 75/76B | €2,604 | €2,105 | -€499 | -19.2% |
| Recurring financial income | 75 | €2,604 | €2,105 | -€499 | -19.2% |
| Financial charges | 65/66B | €28,569 | €20,269 | -€8,300 | -29.1% |
| Recurring financial charges | 65 | €28,569 | €20,269 | -€8,300 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €69,596 | €92,740 | +€23,144 | +33.3% |
| Income taxes | 67/77 | €22,203 | €29,551 | +€7,347 | +33.1% |
| Profit (loss) for the period | 9904 | €47,393 | €63,190 | +€15,797 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,393 | €63,190 | +€15,797 | +33.3% |
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 30 October 2026 via checked.be.