NORADML: 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.
NORADML
Largest movements
- Receivables within one year +€98,163
up €98,163 (+197.9%), from €49,594 to €147,757
of which Trade receivables: +€52,336
- Cash +€21,689
up €21,689 (+20.3%), from €106,672 to €128,361
mainly Net result for the year (+€116,238) and Tax, wage and social debts (+€16,971)
- Profit (loss) carried forward +€116,238
up €116,238 (+78.0%), from €148,996 to €265,234
- Tax, wage and social debts +€16,971
up €16,971 (+700.3%), from €2,423 to €19,395
of which Taxes: +€15,416
- Other debts -€9,124
down €9,124 (-89.0%), from €10,251 to €1,128
- Trade debts -€4,745
down €4,745 (-53.2%), from €8,913 to €4,168
- Gross operating margin +€56,877
up €56,877 (+53.5%), from €106,314 to €163,191
- Taxes +€18,208
up €18,208 (+79.9%), from €22,803 to €41,011
- Other operating charges -€4,714
down €4,714 (-89.3%), from €5,276 to €562
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.
Cash bridge derived
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 | €171,646 | €290,424 | +€118,778 | +69.2% |
| Fixed assets | 21/28 | €14,521 | €13,775 | -€746 | -5.1% |
| Tangible fixed assets | 22/27 | €14,521 | €13,775 | -€746 | -5.1% |
| Furniture and vehicles | 24 | €14,521 | €13,775 | -€746 | -5.1% |
| Current assets | 29/58 | €157,125 | €276,649 | +€119,524 | +76.1% |
| Amounts receivable within one year | 40/41 | €49,594 | €147,757 | +€98,163 | +197.9% |
| Trade receivables | 40 | €48,177 | €100,512 | +€52,336 | +108.6% |
| Other amounts receivable | 41 | €1,418 | €47,245 | +€45,827 | +3232.4% |
| Cash at bank and in hand | 54/58 | €106,672 | €128,361 | +€21,689 | +20.3% |
| Deferred charges and accrued income | 490/1 | €859 | €531 | -€328 | -38.2% |
| Total equity and liabilities | 10/49 | €171,646 | €290,424 | +€118,778 | +69.2% |
| Equity | 10/15 | €149,496 | €265,734 | +€116,238 | +77.8% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,996 | €265,234 | +€116,238 | +78.0% |
| Amounts payable | 17/49 | €22,150 | €24,690 | +€2,539 | +11.5% |
| Amounts payable within one year | 42/48 | €21,588 | €24,690 | +€3,102 | +14.4% |
| Trade debts | 44 | €8,913 | €4,168 | -€4,745 | -53.2% |
| Suppliers | 440/4 | €8,913 | €4,168 | -€4,745 | -53.2% |
| Taxes, remuneration and social security | 45 | €2,423 | €19,395 | +€16,971 | +700.3% |
| Taxes | 450/3 | €1,653 | €17,070 | +€15,416 | +932.4% |
| Remuneration and social security | 454/9 | €770 | €2,325 | +€1,555 | +201.9% |
| Other amounts payable | 47/48 | €10,251 | €1,128 | -€9,124 | -89.0% |
| Accrued charges and deferred income | 492/3 | €563 | - | -€563 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,971 | €6,292 | +€321 | +5.4% |
| Other operating charges | 640/8 | €5,276 | €562 | -€4,714 | -89.3% |
| Gross operating margin | 9900 | €106,314 | €163,191 | +€56,877 | +53.5% |
| Operating profit (loss) | 9901 | €95,066 | €156,336 | +€61,270 | +64.4% |
| Financial income | 75/76B | €15 | €976 | +€961 | +6407.4% |
| Recurring financial income | 75 | €15 | €976 | +€961 | +6407.4% |
| Financial charges | 65/66B | €613 | €63 | -€550 | -89.7% |
| Recurring financial charges | 65 | €613 | €63 | -€550 | -89.7% |
| Profit (loss) for the period before taxes | 9903 | €94,468 | €157,249 | +€62,781 | +66.5% |
| Income taxes | 67/77 | €22,803 | €41,011 | +€18,208 | +79.9% |
| Profit (loss) for the period | 9904 | €71,666 | €116,238 | +€44,572 | +62.2% |
| Profit (loss) for the period to be appropriated | 9905 | €71,666 | €116,238 | +€44,572 | +62.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.