Nor Group: 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.
Nor Group
Largest movements
- Deferred charges and accrued income +€93,760
up €93,760 (+18,646%), from €503 to €94,263
- Receivables within one year +€50,352
up €50,352 (+39.2%), from €128,441 to €178,793
of which Trade receivables: +€41,046
- Cash +€38,127
up €38,127 (+24.1%), from €158,506 to €196,633
mainly Net result for the year (+€302,788) and Other debts (+€76,000)
- Profit (loss) carried forward +€84,837
up €84,837 (+135%), from €62,888 to €147,725
- Other debts +€76,000
up €76,000 (+63.3%), from €120,000 to €196,000
- Tax, wage and social debts +€42,597
up €42,597 (+53.7%), from €79,334 to €121,931
of which Taxes: +€62,469
- Accrued charges and deferred income -€19,565
no longer reported in 2025 (was €19,565)
- Gross operating margin +€165,900
up €165,900 (+39.8%), from €417,295 to €583,195
- Staff costs -€52,718
down €52,718 (-19.2%), from €274,836 to €222,119
- Taxes +€48,769
up €48,769 (+1,072%), from €4,549 to €53,319
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 | €295,939 | €478,790 | +€182,851 | +61.8% |
| Fixed assets | 21/28 | €8,489 | €9,100 | +€611 | +7.2% |
| Tangible fixed assets | 22/27 | €8,489 | €9,100 | +€611 | +7.2% |
| Plant, machinery and equipment | 23 | - | €3,891 | +€3,891 | |
| Furniture and vehicles | 24 | €8,489 | €5,209 | -€3,281 | -38.6% |
| Current assets | 29/58 | €287,450 | €469,690 | +€182,240 | +63.4% |
| Amounts receivable within one year | 40/41 | €128,441 | €178,793 | +€50,352 | +39.2% |
| Trade receivables | 40 | €128,441 | €169,487 | +€41,046 | +32.0% |
| Other amounts receivable | 41 | - | €9,307 | +€9,307 | |
| Cash at bank and in hand | 54/58 | €158,506 | €196,633 | +€38,127 | +24.1% |
| Deferred charges and accrued income | 490/1 | €503 | €94,263 | +€93,760 | +18,646% |
| Total equity and liabilities | 10/49 | €295,939 | €478,790 | +€182,851 | +61.8% |
| Equity | 10/15 | €74,888 | €159,725 | +€84,837 | +113% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Contributions outside capital | 11 | €12,000 | €12,000 | = | 0.0% |
| Other | 1109/19 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,888 | €147,725 | +€84,837 | +135% |
| Amounts payable | 17/49 | €221,051 | €319,064 | +€98,014 | +44.3% |
| Amounts payable within one year | 42/48 | €201,486 | €319,064 | +€117,579 | +58.4% |
| Trade debts | 44 | €2,152 | €1,133 | -€1,019 | -47.3% |
| Suppliers | 440/4 | €2,152 | €1,133 | -€1,019 | -47.3% |
| Taxes, remuneration and social security | 45 | €79,334 | €121,931 | +€42,597 | +53.7% |
| Taxes | 450/3 | €39,352 | €101,820 | +€62,469 | +159% |
| Remuneration and social security | 454/9 | €39,982 | €20,111 | -€19,871 | -49.7% |
| Other amounts payable | 47/48 | €120,000 | €196,000 | +€76,000 | +63.3% |
| Accrued charges and deferred income | 492/3 | €19,565 | - | -€19,565 | |
| Remuneration, social security and pensions | 62 | €274,836 | €222,119 | -€52,718 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,382 | €4,253 | +€872 | +25.8% |
| Other operating charges | 640/8 | €1,076 | €955 | -€121 | -11.2% |
| Gross operating margin | 9900 | €417,295 | €583,195 | +€165,900 | +39.8% |
| Operating profit (loss) | 9901 | €138,001 | €355,868 | +€217,867 | +158% |
| Financial income | 75/76B | €501 | €304 | -€197 | -39.3% |
| Recurring financial income | 75 | €501 | €304 | -€197 | -39.3% |
| Financial charges | 65/66B | €336 | €65 | -€271 | -80.7% |
| Recurring financial charges | 65 | €336 | €65 | -€271 | -80.7% |
| Profit (loss) for the period before taxes | 9903 | €138,166 | €356,107 | +€217,941 | +158% |
| Income taxes | 67/77 | €4,549 | €53,319 | +€48,769 | +1,072% |
| Profit (loss) for the period | 9904 | €133,617 | €302,788 | +€169,172 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €133,617 | €302,788 | +€169,172 | +127% |
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 13 October 2026 via checked.be.