NORARENT: 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.
NORARENT
Largest movements
- Receivables within one year -€127,943
down €127,943 (-75.7%), from €168,934 to €40,992
of which Other amounts receivable: -€91,476
- Tangible fixed assets +€18,496
up €18,496 (+66.4%), from €27,857 to €46,353
- Deferred charges and accrued income -€8,850
down €8,850 (-97.4%), from €9,085 to €235
- Cash -€8,724
down €8,724 (-3.6%), from €245,432 to €236,708
mainly Current portion of long-term debt (-€139,931) and Investment in fixed assets (net) (-€32,219)
- Current portion of long-term debt -€139,931
down €139,931 (-27.7%), from €505,035 to €365,105
- Profit (loss) carried forward +€23,976
up €23,976 (+35.7%), from -€67,128 to -€43,152
- Debts after one year -€8,470
down €8,470 (-100%), from €8,470 to €0
- Other operating charges -€52,244
down €52,244 (-46.0%), from €113,465 to €61,221
- Write-downs +€40,527
up €40,527 (+41.8%), from -€96,977 to -€56,450
- Gross operating margin -€25,180
down €25,180 (-24.2%), from €104,066 to €78,886
- Staff costs -€14,705
down €14,705 (-28.2%), from €52,137 to €37,432
- Depreciation +€2,967
up €2,967 (+27.6%), from €10,757 to €13,723
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 | €489,708 | €361,717 | -€127,992 | -26.1% |
| Fixed assets | 21/28 | €27,857 | €46,353 | +€18,496 | +66.4% |
| Tangible fixed assets | 22/27 | €27,857 | €46,353 | +€18,496 | +66.4% |
| Furniture and vehicles | 24 | €27,857 | €46,353 | +€18,496 | +66.4% |
| Current assets | 29/58 | €461,851 | €315,364 | -€146,487 | -31.7% |
| Stocks and contracts in progress | 3 | €38,400 | €37,429 | -€971 | -2.5% |
| Stocks | 30/36 | €38,400 | €37,429 | -€971 | -2.5% |
| Amounts receivable within one year | 40/41 | €168,934 | €40,992 | -€127,943 | -75.7% |
| Trade receivables | 40 | €76,081 | €39,615 | -€36,466 | -47.9% |
| Other amounts receivable | 41 | €92,853 | €1,377 | -€91,476 | -98.5% |
| Cash at bank and in hand | 54/58 | €245,432 | €236,708 | -€8,724 | -3.6% |
| Deferred charges and accrued income | 490/1 | €9,085 | €235 | -€8,850 | -97.4% |
| Total equity and liabilities | 10/49 | €489,708 | €361,717 | -€127,992 | -26.1% |
| Equity | 10/15 | -€48,528 | -€24,552 | +€23,976 | +49.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€67,128 | -€43,152 | +€23,976 | +35.7% |
| Amounts payable | 17/49 | €538,236 | €386,269 | -€151,967 | -28.2% |
| Amounts payable after more than one year | 17 | €8,470 | €0 | -€8,470 | -100% |
| Other amounts payable | 178/9 | €8,470 | €0 | -€8,470 | -100% |
| Amounts payable within one year | 42/48 | €528,744 | €385,728 | -€143,015 | -27.0% |
| Current portion of amounts payable after more than one year | 42 | €505,035 | €365,105 | -€139,931 | -27.7% |
| Trade debts | 44 | €17,306 | €17,275 | -€31 | -0.2% |
| Suppliers | 440/4 | €17,306 | €17,275 | -€31 | -0.2% |
| Taxes, remuneration and social security | 45 | €6,317 | €3,169 | -€3,149 | -49.8% |
| Taxes | 450/3 | - | €3,169 | +€3,169 | |
| Remuneration and social security | 454/9 | €6,317 | €0 | -€6,317 | -100% |
| Other amounts payable | 47/48 | €86 | €181 | +€95 | +110% |
| Accrued charges and deferred income | 492/3 | €1,022 | €540 | -€482 | -47.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €52,137 | €37,432 | -€14,705 | -28.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,757 | €13,723 | +€2,967 | +27.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€96,977 | -€56,450 | +€40,527 | +41.8% |
| Other operating charges | 640/8 | €113,465 | €61,221 | -€52,244 | -46.0% |
| Gross operating margin | 9900 | €104,066 | €78,886 | -€25,180 | -24.2% |
| Operating profit (loss) | 9901 | €24,685 | €22,960 | -€1,725 | -7.0% |
| Financial income | 75/76B | €787 | €1,096 | +€310 | +39.4% |
| Recurring financial income | 75 | €787 | €1,096 | +€310 | +39.4% |
| Financial charges | 65/66B | €78 | €81 | +€2 | +3.1% |
| Recurring financial charges | 65 | €78 | €81 | +€2 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | €25,393 | €23,976 | -€1,418 | -5.6% |
| Profit (loss) for the period | 9904 | €25,393 | €23,976 | -€1,418 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,393 | €23,976 | -€1,418 | -5.6% |
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 15 October 2026 via checked.be.