Noordveen: 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.
Noordveen
Largest movements
- Tangible fixed assets -€47,928
down €47,928 (-10.3%), from €466,143 to €418,215
- Receivables within one year +€43,877
up €43,877 (+36.0%), from €121,865 to €165,743
of which Trade receivables: +€23,578
- Cash -€41,483
down €41,483 (-29.3%), from €141,356 to €99,873
mainly Receivables within one year (-€43,877) and Contributions, distributions and other (-€42,166)
- Deferred charges and accrued income +€8,932
up €8,932 (+144%), from €6,221 to €15,153
- Reserves -€41,350
down €41,350 (-27.8%), from €148,709 to €107,359
- Debts after one year -€39,616
down €39,616 (-12.9%), from €307,032 to €267,415
- Other debts +€36,655
up €36,655 (+56.6%), from €64,731 to €101,386
- Advances received +€25,250
up €25,250 (+63.9%), from €39,500 to €64,750
- Trade debts -€12,927
down €12,927 (-19.2%), from €67,466 to €54,539
- Gross operating margin -€39,064
down €39,064 (-38.7%), from €101,013 to €61,950
- Financial charges -€8,145
down €8,145 (-25.0%), from €32,533 to €24,388
- Taxes -€7,728
down €7,728 (-82.0%), from €9,426 to €1,698
- Financial income +€6,063
up €6,063 (+60.0%), from €10,105 to €16,168
- Depreciation +€2,457
up €2,457 (+5.4%), from €45,471 to €47,928
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 | €735,624 | €699,022 | -€36,602 | -5.0% |
| Fixed assets | 21/28 | €466,183 | €418,255 | -€47,928 | -10.3% |
| Tangible fixed assets | 22/27 | €466,143 | €418,215 | -€47,928 | -10.3% |
| Land and buildings | 22 | €364,097 | €352,324 | -€11,773 | -3.2% |
| Plant, machinery and equipment | 23 | €37,392 | €21,364 | -€16,028 | -42.9% |
| Furniture and vehicles | 24 | €64,654 | €44,527 | -€20,127 | -31.1% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €269,442 | €280,768 | +€11,326 | +4.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €121,865 | €165,743 | +€43,877 | +36.0% |
| Trade receivables | 40 | €49,016 | €72,595 | +€23,578 | +48.1% |
| Other amounts receivable | 41 | €72,849 | €93,148 | +€20,299 | +27.9% |
| Cash at bank and in hand | 54/58 | €141,356 | €99,873 | -€41,483 | -29.3% |
| Deferred charges and accrued income | 490/1 | €6,221 | €15,153 | +€8,932 | +144% |
| Total equity and liabilities | 10/49 | €735,624 | €699,022 | -€36,602 | -5.0% |
| Equity | 10/15 | €167,309 | €125,959 | -€41,350 | -24.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €148,709 | €107,359 | -€41,350 | -27.8% |
| Distributable reserves | 133 | €148,709 | €107,359 | -€41,350 | -27.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €568,316 | €573,063 | +€4,748 | +0.8% |
| Amounts payable after more than one year | 17 | €307,032 | €267,415 | -€39,616 | -12.9% |
| Financial debts | 170/4 | €307,032 | €267,415 | -€39,616 | -12.9% |
| Amounts payable within one year | 42/48 | €259,846 | €305,067 | +€45,220 | +17.4% |
| Current portion of amounts payable after more than one year | 42 | €49,481 | €51,216 | +€1,735 | +3.5% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €67,466 | €54,539 | -€12,927 | -19.2% |
| Suppliers | 440/4 | €67,466 | €54,539 | -€12,927 | -19.2% |
| Advances received on contracts in progress | 46 | €39,500 | €64,750 | +€25,250 | +63.9% |
| Taxes, remuneration and social security | 45 | €38,669 | €33,176 | -€5,493 | -14.2% |
| Taxes | 450/3 | €38,669 | €33,176 | -€5,493 | -14.2% |
| Other amounts payable | 47/48 | €64,731 | €101,386 | +€36,655 | +56.6% |
| Accrued charges and deferred income | 492/3 | €1,438 | €582 | -€856 | -59.6% |
| Non-recurring operating income | 76A | €9,000 | €0 | -€9,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,471 | €47,928 | +€2,457 | +5.4% |
| Other operating charges | 640/8 | €1,762 | €3,287 | +€1,525 | +86.6% |
| Gross operating margin | 9900 | €101,013 | €61,950 | -€39,064 | -38.7% |
| Operating profit (loss) | 9901 | €53,781 | €10,735 | -€43,045 | -80.0% |
| Financial income | 75/76B | €10,105 | €16,168 | +€6,063 | +60.0% |
| Recurring financial income | 75 | €10,105 | €16,168 | +€6,063 | +60.0% |
| Financial charges | 65/66B | €32,533 | €24,388 | -€8,145 | -25.0% |
| Recurring financial charges | 65 | €32,533 | €24,388 | -€8,145 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €31,352 | €2,515 | -€28,838 | -92.0% |
| Income taxes | 67/77 | €9,426 | €1,698 | -€7,728 | -82.0% |
| Profit (loss) for the period | 9904 | €21,926 | €816 | -€21,110 | -96.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,926 | €816 | -€21,110 | -96.3% |
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 25 October 2026 via checked.be.