NOORDHEUVEL: 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.
NOORDHEUVEL
Largest movements
- Receivables after one year -€176,753
no longer reported in 2025 (was €176,753)
- Cash +€71,234
up €71,234 (+145%), from €48,994 to €120,227
mainly Receivables after one year (+€176,753) and Depreciation (+€14,207)
- Tangible fixed assets +€63,758
up €63,758 (+11.4%), from €557,077 to €620,834
of which Land and buildings: +€60,328
- Profit (loss) carried forward -€31,897
down €31,897 (-7.4%), from -€429,326 to -€461,224
- Debts after one year -€20,278
down €20,278 (-10.3%), from €197,235 to €176,957
of which Financial debts: -€20,278
- Trade debts +€9,152
up €9,152 (+2,248%), from €407 to €9,559
- Gross operating margin -€5,223
down €5,223 (-100%), from -€5,200 to -€10,423
- Depreciation +€3,333
up €3,333 (+30.6%), from €10,874 to €14,207
- Financial income -€3,053
down €3,053 (-67.4%), from €4,530 to €1,477
- Financial charges +€320
up €320 (+66.6%), from €480 to €800
- Other operating charges -€219
down €219 (-2.7%), from €8,048 to €7,829
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 | €844,320 | €801,396 | -€42,924 | -5.1% |
| Fixed assets | 21/28 | €557,077 | €620,834 | +€63,758 | +11.4% |
| Tangible fixed assets | 22/27 | €557,077 | €620,834 | +€63,758 | +11.4% |
| Land and buildings | 22 | €554,590 | €614,918 | +€60,328 | +10.9% |
| Plant, machinery and equipment | 23 | €2,487 | €5,917 | +€3,430 | +138% |
| Current assets | 29/58 | €287,243 | €180,562 | -€106,682 | -37.1% |
| Amounts receivable after more than one year | 29 | €176,753 | - | -€176,753 | |
| Other amounts receivable | 291 | €176,753 | - | -€176,753 | |
| Amounts receivable within one year | 40/41 | €66 | - | -€66 | |
| Other amounts receivable | 41 | €66 | - | -€66 | |
| Current investments | 50/53 | €60,334 | €60,334 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €48,994 | €120,227 | +€71,234 | +145% |
| Deferred charges and accrued income | 490/1 | €1,096 | - | -€1,096 | |
| Total equity and liabilities | 10/49 | €844,320 | €801,396 | -€42,924 | -5.1% |
| Equity | 10/15 | €646,427 | €614,530 | -€31,897 | -4.9% |
| Contributions | 10/11 | €1,075,000 | €1,075,000 | = | 0.0% |
| Reserves | 13 | €754 | €754 | = | 0.0% |
| Distributable reserves | 133 | €754 | €754 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€429,326 | -€461,224 | -€31,897 | -7.4% |
| Amounts payable | 17/49 | €197,893 | €186,866 | -€11,027 | -5.6% |
| Amounts payable after more than one year | 17 | €197,235 | €176,957 | -€20,278 | -10.3% |
| Financial debts | 170/4 | €196,635 | €176,357 | -€20,278 | -10.3% |
| Other amounts payable | 178/9 | €600 | €600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €657 | €9,809 | +€9,152 | +1,393% |
| Trade debts | 44 | €407 | €9,559 | +€9,152 | +2,248% |
| Suppliers | 440/4 | €407 | €9,559 | +€9,152 | +2,248% |
| Other amounts payable | 47/48 | €250 | €250 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Non-recurring operating income | 76A | €13 | - | -€13 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,874 | €14,207 | +€3,333 | +30.6% |
| Other operating charges | 640/8 | €8,048 | €7,829 | -€219 | -2.7% |
| Gross operating margin | 9900 | -€5,200 | -€10,423 | -€5,223 | -100% |
| Operating profit (loss) | 9901 | -€24,122 | -€32,458 | -€8,337 | -34.6% |
| Financial income | 75/76B | €4,530 | €1,477 | -€3,053 | -67.4% |
| Recurring financial income | 75 | €4,530 | €1,477 | -€3,053 | -67.4% |
| Financial charges | 65/66B | €480 | €800 | +€320 | +66.6% |
| Recurring financial charges | 65 | €480 | €800 | +€320 | +66.6% |
| Profit (loss) for the period before taxes | 9903 | -€20,072 | -€31,781 | -€11,710 | -58.3% |
| Income taxes | 67/77 | - | €116 | +€116 | |
| Profit (loss) for the period | 9904 | -€20,072 | -€31,897 | -€11,826 | -58.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,072 | -€31,897 | -€11,826 | -58.9% |
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 24 October 2026 via checked.be.