NOORDCO: what changed
Two fiscal 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.
What changed
NOORDCO
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€1,873
2023 · €189,473-€187,600
Equity
€2.7m
2023 · €2.7m+€1,873
Cash
€15,213
2023 · €45,861-€30,649
Balance sheet total
€11.3m
2023 · €11.6m-€244,636
Largest movements
Assets
- Tangible fixed assets -€193,547
down €193,547 (-2.5%), from €7.6m to €7.4m
of which Land and buildings: -€182,746
Equity and liabilities
- Debts after one year -€491,313
down €491,313 (-7.5%), from €6.5m to €6.0m
of which Financial debts: -€491,313
- Current portion of long-term debt +€171,655
up €171,655 (+33.5%), from €512,692 to €684,347
Income statement
- Taxes +€60,222
up €60,222 (+533.8%), from €11,282 to €71,504
- Gross operating margin +€9,202
up €9,202 (+1.6%), from €572,084 to €581,286
From the 2023 result to the 2024 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.
Result 2023
€189,473
Gross operating margin
+€9,202
Depreciation
-€846
Other operating charges
-€3,260
Other operating items
-€127,262
Financial income
-€151
Financial charges
-€5,061
Taxes
-€60,222
Result 2024
€1,873
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€304,009
Investment
-€15,000
Financing
-€319,658
Cash 2023
€45,861
From operations (derived)
+€304,009
Net result for the year
+€1,873
Depreciation
+€208,547
Receivables within one year
+€20,440
Provisions
-€17,340
Trade debts
+€101,155
Tax, wage and social debts
+€24,092
Other debts
+€14,450
Accrued charges and deferred income
-€49,208
Investment (derived)
-€15,000
Investment in fixed assets (net)
-€15,000
Financing
-€319,658
Debts after one year
-€491,313
Current portion of long-term debt
+€171,655
Cash 2024
€15,213
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,590,734 | €11,346,098 | -€244,636 | -2.1% |
| Fixed assets | 21/28 | €9,420,421 | €9,226,874 | -€193,547 | -2.1% |
| Tangible fixed assets | 22/27 | €7,641,501 | €7,447,953 | -€193,547 | -2.5% |
| Land and buildings | 22 | €7,300,905 | €7,118,159 | -€182,746 | -2.5% |
| Plant, machinery and equipment | 23 | €32,077 | €21,277 | -€10,801 | -33.7% |
| Other tangible fixed assets | 26 | €308,518 | €308,518 | = | 0.0% |
| Financial fixed assets | 28 | €1,778,921 | €1,778,921 | = | 0.0% |
| Current assets | 29/58 | €2,170,313 | €2,119,224 | -€51,089 | -2.4% |
| Amounts receivable after more than one year | 29 | €1,590,051 | €1,590,051 | = | 0.0% |
| Other amounts receivable | 291 | €1,590,051 | €1,590,051 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €534,401 | €513,960 | -€20,440 | -3.8% |
| Trade receivables | 40 | €330,457 | €295,225 | -€35,232 | -10.7% |
| Other amounts receivable | 41 | €203,944 | €218,735 | +€14,791 | +7.3% |
| Cash at bank and in hand | 54/58 | €45,861 | €15,213 | -€30,649 | -66.8% |
| Total equity and liabilities | 10/49 | €11,590,734 | €11,346,098 | -€244,636 | -2.1% |
| Equity | 10/15 | €2,728,312 | €2,730,185 | +€1,873 | +0.1% |
| Contributions | 10/11 | €762,000 | €762,000 | = | 0.0% |
| Capital | 10 | €762,000 | €762,000 | = | 0.0% |
| Issued capital | 100 | €762,000 | €762,000 | = | 0.0% |
| Reserves | 13 | €1,658,362 | €1,624,688 | -€33,674 | -2.0% |
| Non-distributable reserves | 130/1 | €76,200 | €76,200 | = | 0.0% |
| Legal reserve | 130 | €76,200 | €76,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,444,565 | €1,410,890 | -€33,674 | -2.3% |
| Distributable reserves | 133 | €137,598 | €137,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | €307,950 | €343,497 | +€35,548 | +11.5% |
| Provisions and deferred taxes | 16 | €753,031 | €735,691 | -€17,340 | -2.3% |
| Deferred taxes | 168 | €753,031 | €735,691 | -€17,340 | -2.3% |
| Amounts payable | 17/49 | €8,109,391 | €7,880,222 | -€229,170 | -2.8% |
| Amounts payable after more than one year | 17 | €6,517,479 | €6,026,166 | -€491,313 | -7.5% |
| Financial debts | 170/4 | €3,569,886 | €3,078,573 | -€491,313 | -13.8% |
| Other amounts payable | 178/9 | €2,947,593 | €2,947,593 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,347,396 | €1,658,748 | +€311,351 | +23.1% |
| Current portion of amounts payable after more than one year | 42 | €512,692 | €684,347 | +€171,655 | +33.5% |
| Trade debts | 44 | €230,095 | €331,250 | +€101,155 | +44.0% |
| Suppliers | 440/4 | €230,095 | €331,250 | +€101,155 | +44.0% |
| Taxes, remuneration and social security | 45 | €97,066 | €121,157 | +€24,092 | +24.8% |
| Taxes | 450/3 | €97,066 | €121,157 | +€24,092 | +24.8% |
| Other amounts payable | 47/48 | €507,544 | €521,994 | +€14,450 | +2.8% |
| Accrued charges and deferred income | 492/3 | €244,516 | €195,308 | -€49,208 | -20.1% |
| Non-recurring operating income | 76A | €5,828 | €47,201 | +€41,373 | +709.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €207,701 | €208,547 | +€846 | +0.4% |
| Other operating charges | 640/8 | €100,167 | €103,427 | +€3,260 | +3.3% |
| Non-recurring operating charges | 66A | - | €127,262 | +€127,262 | |
| Gross operating margin | 9900 | €572,084 | €581,286 | +€9,202 | +1.6% |
| Operating profit (loss) | 9901 | €264,216 | €142,050 | -€122,166 | -46.2% |
| Financial income | 75/76B | €14,128 | €13,977 | -€151 | -1.1% |
| Recurring financial income | 75 | €14,128 | €13,977 | -€151 | -1.1% |
| Financial charges | 65/66B | €94,928 | €99,989 | +€5,061 | +5.3% |
| Recurring financial charges | 65 | €94,928 | €99,989 | +€5,061 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €183,416 | €56,038 | -€127,379 | -69.4% |
| Transfer from deferred taxes | 780 | €17,340 | €17,340 | = | 0.0% |
| Income taxes | 67/77 | €11,282 | €71,504 | +€60,222 | +533.8% |
| Profit (loss) for the period | 9904 | €189,473 | €1,873 | -€187,600 | -99.0% |
| Transfer from tax-exempt reserves | 789 | €33,674 | €33,674 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €223,148 | €35,548 | -€187,600 | -84.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.