NORAMIR: 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.
NORAMIR
Largest movements
- Receivables within one year -€1.6m
down €1.6m (-99.9%), from €1.6m to €1,974
of which Other amounts receivable: -€1.6m
- Tangible fixed assets -€200,096
down €200,096 (-11.9%), from €1.7m to €1.5m
- Other debts -€1.7m
down €1.7m (-46.8%), from €3.6m to €1.9m
- Profit (loss) carried forward -€127,206
down €127,206 (-19.7%), from -€644,454 to -€771,660
- Trade debts +€63,948
up €63,948 (+36.6%), from €174,629 to €238,577
- Financial charges -€33,468
down €33,468 (-33.4%), from €100,100 to €66,633
- Gross operating margin +€23,531
up €23,531 (+5.3%), from €445,724 to €469,255
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 | €3,314,917 | €1,554,545 | -€1.8m | -53.1% |
| Fixed assets | 21/28 | €1,684,543 | €1,484,447 | -€200,096 | -11.9% |
| Tangible fixed assets | 22/27 | €1,684,543 | €1,484,447 | -€200,096 | -11.9% |
| Land and buildings | 22 | €507,153 | €433,238 | -€73,914 | -14.6% |
| Plant, machinery and equipment | 23 | €219,742 | €156,081 | -€63,661 | -29.0% |
| Furniture and vehicles | 24 | €13,554 | €9,153 | -€4,401 | -32.5% |
| Other tangible fixed assets | 26 | €944,095 | €885,975 | -€58,120 | -6.2% |
| Current assets | 29/58 | €1,630,374 | €70,098 | -€1.6m | -95.7% |
| Stocks and contracts in progress | 3 | €44,367 | €45,649 | +€1,282 | +2.9% |
| Stocks | 30/36 | €44,367 | €45,649 | +€1,282 | +2.9% |
| Amounts receivable within one year | 40/41 | €1,569,717 | €1,974 | -€1.6m | -99.9% |
| Trade receivables | 40 | €360 | €1,530 | +€1,171 | +325% |
| Other amounts receivable | 41 | €1,569,357 | €444 | -€1.6m | -100.0% |
| Cash at bank and in hand | 54/58 | €16,290 | €22,475 | +€6,185 | +38.0% |
| Total equity and liabilities | 10/49 | €3,314,917 | €1,554,545 | -€1.8m | -53.1% |
| Equity | 10/15 | -€582,454 | -€709,660 | -€127,206 | -21.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€644,454 | -€771,660 | -€127,206 | -19.7% |
| Amounts payable | 17/49 | €3,897,370 | €2,264,205 | -€1.6m | -41.9% |
| Amounts payable within one year | 42/48 | €3,876,033 | €2,264,205 | -€1.6m | -41.6% |
| Trade debts | 44 | €174,629 | €238,577 | +€63,948 | +36.6% |
| Suppliers | 440/4 | €174,629 | €238,577 | +€63,948 | +36.6% |
| Taxes, remuneration and social security | 45 | €54,787 | €85,997 | +€31,210 | +57.0% |
| Taxes | 450/3 | €707 | €28,981 | +€28,274 | +3,998% |
| Remuneration and social security | 454/9 | €54,079 | €57,016 | +€2,936 | +5.4% |
| Other amounts payable | 47/48 | €3,646,617 | €1,939,631 | -€1.7m | -46.8% |
| Accrued charges and deferred income | 492/3 | €21,337 | - | -€21,337 | |
| Remuneration, social security and pensions | 62 | €319,238 | €315,631 | -€3,607 | -1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,376 | €200,096 | +€720 | +0.4% |
| Other operating charges | 640/8 | €13,607 | €13,886 | +€279 | +2.0% |
| Gross operating margin | 9900 | €445,724 | €469,255 | +€23,531 | +5.3% |
| Operating profit (loss) | 9901 | -€86,498 | -€60,358 | +€26,140 | +30.2% |
| Financial charges | 65/66B | €100,100 | €66,633 | -€33,468 | -33.4% |
| Recurring financial charges | 65 | €100,100 | €66,633 | -€33,468 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | -€186,598 | -€126,990 | +€59,608 | +31.9% |
| Income taxes | 67/77 | €240 | €216 | -€24 | -10.1% |
| Profit (loss) for the period | 9904 | -€186,839 | -€127,206 | +€59,632 | +31.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€186,839 | -€127,206 | +€59,632 | +31.9% |
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 29 October 2026 via checked.be.