NORDELAN: what changed
What changed
NORDELAN
NACE 46.120, Wholesale trade
filed annual accounts (NBB)
Net result for the year
€18,288
2024 · €23,332-€5,044
Equity
€519,818
2024 · €610,650-€90,832
Cash
€44,132
2024 · €73,624-€29,492
Balance sheet total
€797,865
2024 · €830,304-€32,440
Largest movements
Assets
- Cash -€29,492
down €29,492 (-40.1%), from €73,624 to €44,132
mainly Contributions, distributions and other (-€109,120) and Current portion of long-term debt (-€23,327)
Equity and liabilities
- Other debts +€108,338
up €108,338 (+66.5%), from €162,990 to €271,328
- Reserves -€90,832
down €90,832 (-15.4%), from €590,650 to €499,818
of which Distributable reserves: -€90,832
- Current portion of long-term debt -€23,327
no longer reported in 2025 (was €23,327)
- Tax, wage and social debts -€16,679
down €16,679 (-76.6%), from €21,767 to €5,087
Income statement
- Taxes +€2,377
up €2,377 (+81.0%), from €2,935 to €5,312
- Depreciation +€1,652
up €1,652 (+35.3%), from €4,678 to €6,329
- Gross operating margin -€1,558
down €1,558 (-4.4%), from €35,454 to €33,897
- Financial charges -€373
down €373 (-26.9%), from €1,387 to €1,014
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
€23,332
Gross operating margin
-€1,558
Depreciation
-€1,652
Other operating charges
+€135
Financial income
+€34
Financial charges
+€373
Taxes
-€2,377
Result 2025
€18,288
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
+€105,916
Investment
-€2,962
Financing
-€132,447
Cash 2024
€73,624
From operations (derived)
+€105,916
Net result for the year
+€18,288
Depreciation
+€6,329
Receivables within one year
-€830
Deferred charges and accrued income
+€409
Trade debts
-€8,189
Tax, wage and social debts
-€16,679
Other debts
+€108,338
Accrued charges and deferred income
-€1,750
Investment (derived)
-€2,962
Investment in fixed assets (net)
-€2,962
Financing
-€132,447
Current portion of long-term debt
-€23,327
Contributions, distributions and other
-€109,120
Cash 2025
€44,132
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €830,304 | €797,865 | -€32,440 | -3.9% |
| Fixed assets | 21/28 | €502,058 | €498,690 | -€3,368 | -0.7% |
| Tangible fixed assets | 22/27 | €502,058 | €498,690 | -€3,368 | -0.7% |
| Plant, machinery and equipment | 23 | €496,811 | €495,632 | -€1,179 | -0.2% |
| Furniture and vehicles | 24 | €5,248 | €3,059 | -€2,189 | -41.7% |
| Current assets | 29/58 | €328,246 | €299,174 | -€29,072 | -8.9% |
| Amounts receivable within one year | 40/41 | €195 | €1,025 | +€830 | +425% |
| Other amounts receivable | 41 | €195 | €1,025 | +€830 | +425% |
| Current investments | 50/53 | €254,000 | €254,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €73,624 | €44,132 | -€29,492 | -40.1% |
| Deferred charges and accrued income | 490/1 | €427 | €17 | -€409 | -96.0% |
| Total equity and liabilities | 10/49 | €830,304 | €797,865 | -€32,440 | -3.9% |
| Equity | 10/15 | €610,650 | €519,818 | -€90,832 | -14.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €590,650 | €499,818 | -€90,832 | -15.4% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €588,650 | €497,818 | -€90,832 | -15.4% |
| Amounts payable | 17/49 | €219,654 | €278,047 | +€58,392 | +26.6% |
| Amounts payable within one year | 42/48 | €217,904 | €278,047 | +€60,142 | +27.6% |
| Current portion of amounts payable after more than one year | 42 | €23,327 | - | -€23,327 | |
| Trade debts | 44 | €9,821 | €1,631 | -€8,189 | -83.4% |
| Suppliers | 440/4 | €9,821 | €1,631 | -€8,189 | -83.4% |
| Taxes, remuneration and social security | 45 | €21,767 | €5,087 | -€16,679 | -76.6% |
| Taxes | 450/3 | €21,767 | €5,087 | -€16,679 | -76.6% |
| Other amounts payable | 47/48 | €162,990 | €271,328 | +€108,338 | +66.5% |
| Accrued charges and deferred income | 492/3 | €1,750 | - | -€1,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,678 | €6,329 | +€1,652 | +35.3% |
| Other operating charges | 640/8 | €4,016 | €3,881 | -€135 | -3.4% |
| Gross operating margin | 9900 | €35,454 | €33,897 | -€1,558 | -4.4% |
| Operating profit (loss) | 9901 | €26,761 | €23,687 | -€3,074 | -11.5% |
| Financial income | 75/76B | €892 | €927 | +€34 | +3.8% |
| Recurring financial income | 75 | €892 | €927 | +€34 | +3.8% |
| Financial charges | 65/66B | €1,387 | €1,014 | -€373 | -26.9% |
| Recurring financial charges | 65 | €1,387 | €1,014 | -€373 | -26.9% |
| Profit (loss) for the period before taxes | 9903 | €26,266 | €23,599 | -€2,667 | -10.2% |
| Income taxes | 67/77 | €2,935 | €5,312 | +€2,377 | +81.0% |
| Profit (loss) for the period | 9904 | €23,332 | €18,288 | -€5,044 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €23,332 | €18,288 | -€5,044 | -21.6% |
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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 8 November 2026 via checked.be.