NORALPHAR: what changed
What changed
NORALPHAR
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€253,135
2024 · €90,718+€162,417
Equity
€58,833
2024 · €115,698-€56,865
Cash
€255,242
2024 · €61,781+€193,462
Balance sheet total
€782,864
2024 · €208,858+€574,006
Largest movements
Assets
- Receivables within one year +€265,206
up €265,206 (+205%), from €129,550 to €394,757
of which Trade receivables: +€377,558
- Cash +€193,462
up €193,462 (+313%), from €61,781 to €255,242
mainly Other debts (+€310,610) and Net result for the year (+€253,135)
- Stocks and contracts +€53,745
new in 2025: €53,745
- Intangible fixed assets +€44,110
new in 2025: €44,110
- Tangible fixed assets +€17,617
up €17,617 (+155%), from €11,352 to €28,969
of which Furniture and vehicles: +€27,617
Equity and liabilities
- Other debts +€310,610
new in 2025: €310,610
- Trade debts +€161,403
up €161,403 (+1,718%), from €9,394 to €170,797
- Tax, wage and social debts +€74,971
up €74,971 (+89.5%), from €83,765 to €158,736
of which Taxes: +€74,499
- Debts after one year +€71,335
new in 2025: €71,335
- Profit (loss) carried forward -€56,865
down €56,865 (-58.8%), from €96,663 to €39,798
Income statement
- Gross operating margin +€240,437
up €240,437 (+119%), from €201,562 to €442,000
- Taxes +€57,982
up €57,982 (+204%), from €28,410 to €86,392
- Depreciation +€13,131
up €13,131 (+2,064%), from €636 to €13,767
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€90,718
Gross operating margin
+€240,437
Staff costs
-€3,391
Depreciation
-€13,131
Other operating charges
+€336
Financial income
-€12
Financial charges
-€3,841
Taxes
-€57,982
Result 2025
€253,135
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€495,068
Investment
-€75,493
Financing
-€226,113
Cash 2024
€61,781
From operations (derived)
+€495,068
Net result for the year
+€253,135
Depreciation
+€13,767
Stocks and contracts
-€53,745
Receivables within one year
-€265,206
Deferred charges and accrued income
+€134
Trade debts
+€161,403
Tax, wage and social debts
+€74,971
Other debts
+€310,610
Investment (derived)
-€75,493
Investment in fixed assets (net)
-€75,493
Financing
-€226,113
Debts after one year
+€71,335
Current portion of long-term debt
+€12,552
Contributions, distributions and other
-€310,000
Cash 2025
€255,242
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €208,858 | €782,864 | +€574,006 | +275% |
| Fixed assets | 21/28 | €11,352 | €73,079 | +€61,727 | +544% |
| Intangible fixed assets | 21 | - | €44,110 | +€44,110 | |
| Tangible fixed assets | 22/27 | €11,352 | €28,969 | +€17,617 | +155% |
| Furniture and vehicles | 24 | €1,352 | €28,969 | +€27,617 | +2,042% |
| Assets under construction and advance payments | 27 | €10,000 | - | -€10,000 | |
| Current assets | 29/58 | €197,505 | €709,785 | +€512,280 | +259% |
| Stocks and contracts in progress | 3 | - | €53,745 | +€53,745 | |
| Stocks | 30/36 | - | €53,745 | +€53,745 | |
| Amounts receivable within one year | 40/41 | €129,550 | €394,757 | +€265,206 | +205% |
| Trade receivables | 40 | €16,879 | €394,437 | +€377,558 | +2,237% |
| Other amounts receivable | 41 | €112,671 | €320 | -€112,351 | -99.7% |
| Cash at bank and in hand | 54/58 | €61,781 | €255,242 | +€193,462 | +313% |
| Deferred charges and accrued income | 490/1 | €6,174 | €6,041 | -€134 | -2.2% |
| Total equity and liabilities | 10/49 | €208,858 | €782,864 | +€574,006 | +275% |
| Equity | 10/15 | €115,698 | €58,833 | -€56,865 | -49.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €435 | €435 | = | 0.0% |
| Non-distributable reserves | 130/1 | €435 | €435 | = | 0.0% |
| Reserves not available under the articles | 1311 | €435 | €435 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,663 | €39,798 | -€56,865 | -58.8% |
| Amounts payable | 17/49 | €93,160 | €724,031 | +€630,871 | +677% |
| Amounts payable after more than one year | 17 | - | €71,335 | +€71,335 | |
| Financial debts | 170/4 | - | €71,335 | +€71,335 | |
| Amounts payable within one year | 42/48 | €93,160 | €652,695 | +€559,536 | +601% |
| Current portion of amounts payable after more than one year | 42 | - | €12,552 | +€12,552 | |
| Trade debts | 44 | €9,394 | €170,797 | +€161,403 | +1,718% |
| Suppliers | 440/4 | €9,394 | €170,797 | +€161,403 | +1,718% |
| Taxes, remuneration and social security | 45 | €83,765 | €158,736 | +€74,971 | +89.5% |
| Taxes | 450/3 | €72,900 | €147,399 | +€74,499 | +102% |
| Remuneration and social security | 454/9 | €10,865 | €11,337 | +€472 | +4.3% |
| Other amounts payable | 47/48 | - | €310,610 | +€310,610 | |
| Remuneration, social security and pensions | 62 | €77,885 | €81,276 | +€3,391 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €636 | €13,767 | +€13,131 | +2,064% |
| Other operating charges | 640/8 | €1,189 | €854 | -€336 | -28.2% |
| Gross operating margin | 9900 | €201,562 | €442,000 | +€240,437 | +119% |
| Operating profit (loss) | 9901 | €121,852 | €346,104 | +€224,252 | +184% |
| Financial income | 75/76B | €30 | €18 | -€12 | -39.3% |
| Recurring financial income | 75 | €30 | €18 | -€12 | -39.3% |
| Financial charges | 65/66B | €2,754 | €6,595 | +€3,841 | +139% |
| Recurring financial charges | 65 | €2,754 | €6,595 | +€3,841 | +139% |
| Profit (loss) for the period before taxes | 9903 | €119,128 | €339,528 | +€220,399 | +185% |
| Income taxes | 67/77 | €28,410 | €86,392 | +€57,982 | +204% |
| Profit (loss) for the period | 9904 | €90,718 | €253,135 | +€162,417 | +179% |
| Profit (loss) for the period to be appropriated | 9905 | €90,718 | €253,135 | +€162,417 | +179% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.