NORBU: 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.
NORBU
Largest movements
- Cash -€37,935
down €37,935 (-71.0%), from €53,432 to €15,497
mainly Other debts (-€26,100) and Contributions, distributions and other (-€20,000)
- Receivables within one year +€15,693
up €15,693 (+28.6%), from €54,846 to €70,539
of which Trade receivables: +€14,288
- Tangible fixed assets -€2,235
down €2,235 (-47.0%), from €4,759 to €2,523
- Other debts -€26,100
down €26,100 (-61.4%), from €42,500 to €16,400
- Trade debts +€17,219
new in 2025: €17,219
- Profit (loss) carried forward -€16,492
down €16,492 (-35.5%), from €46,521 to €30,029
- Gross operating margin -€34,832
down €34,832 (-74.0%), from €47,067 to €12,235
- Taxes -€5,420
down €5,420 (-60.1%), from €9,013 to €3,593
- Other operating charges +€3,097
up €3,097 (+116.9%), from €2,648 to €5,744
- Financial income +€1,329
up €1,329 (+71.5%), from €1,860 to €3,189
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 | €113,037 | €88,559 | -€24,478 | -21.7% |
| Fixed assets | 21/28 | €4,759 | €2,523 | -€2,235 | -47.0% |
| Tangible fixed assets | 22/27 | €4,759 | €2,523 | -€2,235 | -47.0% |
| Furniture and vehicles | 24 | €4,759 | €2,523 | -€2,235 | -47.0% |
| Current assets | 29/58 | €108,278 | €86,036 | -€22,242 | -20.5% |
| Amounts receivable within one year | 40/41 | €54,846 | €70,539 | +€15,693 | +28.6% |
| Trade receivables | 40 | €593 | €14,881 | +€14,288 | +2410.2% |
| Other amounts receivable | 41 | €54,253 | €55,658 | +€1,405 | +2.6% |
| Cash at bank and in hand | 54/58 | €53,432 | €15,497 | -€37,935 | -71.0% |
| Total equity and liabilities | 10/49 | €113,037 | €88,559 | -€24,478 | -21.7% |
| Equity | 10/15 | €49,021 | €32,529 | -€16,492 | -33.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,521 | €30,029 | -€16,492 | -35.5% |
| Amounts payable | 17/49 | €64,016 | €56,030 | -€7,986 | -12.5% |
| Amounts payable within one year | 42/48 | €64,016 | €56,030 | -€7,986 | -12.5% |
| Trade debts | 44 | - | €17,219 | +€17,219 | |
| Suppliers | 440/4 | - | €17,219 | +€17,219 | |
| Taxes, remuneration and social security | 45 | €21,516 | €22,411 | +€895 | +4.2% |
| Taxes | 450/3 | €21,516 | €22,411 | +€895 | +4.2% |
| Other amounts payable | 47/48 | €42,500 | €16,400 | -€26,100 | -61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,235 | €2,235 | = | 0.0% |
| Other operating charges | 640/8 | €2,648 | €5,744 | +€3,097 | +116.9% |
| Gross operating margin | 9900 | €47,067 | €12,235 | -€34,832 | -74.0% |
| Operating profit (loss) | 9901 | €42,184 | €4,255 | -€37,928 | -89.9% |
| Financial income | 75/76B | €1,860 | €3,189 | +€1,329 | +71.5% |
| Recurring financial income | 75 | €1,860 | €3,189 | +€1,329 | +71.5% |
| Financial charges | 65/66B | €256 | €344 | +€87 | +34.1% |
| Recurring financial charges | 65 | €256 | €344 | +€87 | +34.1% |
| Profit (loss) for the period before taxes | 9903 | €43,787 | €7,101 | -€36,687 | -83.8% |
| Income taxes | 67/77 | €9,013 | €3,593 | -€5,420 | -60.1% |
| Profit (loss) for the period | 9904 | €34,774 | €3,508 | -€31,266 | -89.9% |
| Profit (loss) for the period to be appropriated | 9905 | €34,774 | €3,508 | -€31,266 | -89.9% |
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 8 October 2026 via checked.be.