NOORDKAAI: 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.
NOORDKAAI
Largest movements
- Current investments -€620,000
no longer reported in 2025 (was €620,000)
- Tangible fixed assets -€415,827
down €415,827 (-11.5%), from €3.6m to €3.2m
of which Plant, machinery and equipment: -€274,486
- Cash -€172,571
down €172,571 (-42.3%), from €407,572 to €235,001
mainly Debts after one year (-€700,516) and Current portion of long-term debt (-€494,464)
- Receivables within one year +€125,916
up €125,916 (+7.7%), from €1.6m to €1.8m
of which Trade receivables: +€84,380
- Deferred charges and accrued income -€80,195
down €80,195 (-67.1%), from €119,591 to €39,396
- Debts after one year -€700,516
down €700,516 (-15.7%), from €4.5m to €3.7m
- Current portion of long-term debt -€494,464
down €494,464 (-80.6%), from €613,147 to €118,684
- Profit (loss) carried forward +€140,643
up €140,643 (+22.7%), from €620,196 to €760,839
- Trade debts -€130,533
no longer reported in 2025 (was €130,533)
- Gross operating margin +€188,239
up €188,239 (+32.7%), from €575,651 to €763,890
- Depreciation -€41,699
down €41,699 (-9.1%), from €457,526 to €415,827
- Taxes +€36,083
new in 2025: €36,083
- Financial income -€10,747
down €10,747 (-39.9%), from €26,961 to €16,215
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 | €6,897,512 | €5,748,775 | -€1.1m | -16.7% |
| Fixed assets | 21/28 | €3,622,267 | €3,206,440 | -€415,827 | -11.5% |
| Tangible fixed assets | 22/27 | €3,622,267 | €3,206,440 | -€415,827 | -11.5% |
| Land and buildings | 22 | €2,622,708 | €2,481,367 | -€141,341 | -5.4% |
| Plant, machinery and equipment | 23 | €999,559 | €725,073 | -€274,486 | -27.5% |
| Current assets | 29/58 | €3,275,244 | €2,542,335 | -€732,909 | -22.4% |
| Amounts receivable after more than one year | 29 | €500,000 | €513,941 | +€13,941 | +2.8% |
| Other amounts receivable | 291 | €500,000 | €513,941 | +€13,941 | +2.8% |
| Amounts receivable within one year | 40/41 | €1,628,081 | €1,753,997 | +€125,916 | +7.7% |
| Trade receivables | 40 | €1,559,740 | €1,644,120 | +€84,380 | +5.4% |
| Other amounts receivable | 41 | €68,341 | €109,877 | +€41,536 | +60.8% |
| Current investments | 50/53 | €620,000 | - | -€620,000 | |
| Cash at bank and in hand | 54/58 | €407,572 | €235,001 | -€172,571 | -42.3% |
| Deferred charges and accrued income | 490/1 | €119,591 | €39,396 | -€80,195 | -67.1% |
| Total equity and liabilities | 10/49 | €6,897,512 | €5,748,775 | -€1.1m | -16.7% |
| Equity | 10/15 | €1,703,831 | €1,851,876 | +€148,045 | +8.7% |
| Contributions | 10/11 | €1,040,000 | €1,040,000 | = | 0.0% |
| Capital | 10 | €1,040,000 | €1,040,000 | = | 0.0% |
| Issued capital | 100 | €1,040,000 | €1,040,000 | = | 0.0% |
| Reserves | 13 | €43,635 | €51,037 | +€7,402 | +17.0% |
| Non-distributable reserves | 130/1 | €43,635 | €51,037 | +€7,402 | +17.0% |
| Legal reserve | 130 | €43,635 | €51,037 | +€7,402 | +17.0% |
| Profit (loss) carried forward | 14 | €620,196 | €760,839 | +€140,643 | +22.7% |
| Amounts payable | 17/49 | €5,193,680 | €3,896,899 | -€1.3m | -25.0% |
| Amounts payable after more than one year | 17 | €4,450,000 | €3,749,484 | -€700,516 | -15.7% |
| Financial debts | 170/4 | €4,450,000 | €3,749,484 | -€700,516 | -15.7% |
| Amounts payable within one year | 42/48 | €743,680 | €147,416 | -€596,265 | -80.2% |
| Current portion of amounts payable after more than one year | 42 | €613,147 | €118,684 | -€494,464 | -80.6% |
| Trade debts | 44 | €130,533 | - | -€130,533 | |
| Suppliers | 440/4 | €130,533 | - | -€130,533 | |
| Taxes, remuneration and social security | 45 | - | €28,732 | +€28,732 | |
| Taxes | 450/3 | - | €28,732 | +€28,732 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €457,526 | €415,827 | -€41,699 | -9.1% |
| Other operating charges | 640/8 | €93,077 | €92,730 | -€347 | -0.4% |
| Gross operating margin | 9900 | €575,651 | €763,890 | +€188,239 | +32.7% |
| Operating profit (loss) | 9901 | €25,047 | €255,333 | +€230,285 | +919% |
| Financial income | 75/76B | €26,961 | €16,215 | -€10,747 | -39.9% |
| Recurring financial income | 75 | €26,961 | €16,215 | -€10,747 | -39.9% |
| Financial charges | 65/66B | €91,805 | €87,420 | -€4,385 | -4.8% |
| Recurring financial charges | 65 | €91,805 | €87,420 | -€4,385 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | -€39,797 | €184,128 | +€223,924 | |
| Income taxes | 67/77 | - | €36,083 | +€36,083 | |
| Profit (loss) for the period | 9904 | -€39,797 | €148,045 | +€187,841 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,797 | €148,045 | +€187,841 |
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 20 October 2026 via checked.be.