NorDivin: what changed
What changed
NorDivin
NACE 01.210, Crop and animal production, hunting and related service activities
filed annual accounts (NBB)
Net result for the year
-€97,954
2024 · €19,561-€117,514
Equity
-€169,347
2024 · -€71,394-€97,954
Cash
€17,770
2024 · €19,973-€2,203
Balance sheet total
€364,968
2024 · €266,427+€98,541
Largest movements
Assets
- Tangible fixed assets +€142,487
up €142,487 (+75.5%), from €188,676 to €331,164
of which Land and buildings: +€134,661
- Stocks and contracts -€40,159
down €40,159 (-78.0%), from €51,465 to €11,306
Equity and liabilities
- Debts after one year +€170,000
up €170,000 (+73.9%), from €230,000 to €400,000
- Profit (loss) carried forward -€97,954
down €97,954 (-109%), from -€89,994 to -€187,947
- Other debts +€20,914
up €20,914 (+19.9%), from €104,939 to €125,853
Income statement
- Gross operating margin -€75,155
down €75,155, from €47,125 to -€28,030
- Depreciation +€20,388
up €20,388 (+77.7%), from €26,223 to €46,610
- Financial charges +€19,582
up €19,582 (+32,637%), from €60 to €19,642
- Other operating charges +€3,618
up €3,618 (+282%), from €1,281 to €4,900
- Financial income +€1,228
up €1,228 (+1,228,470%), from €0 to €1,229
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
€19,561
Gross operating margin
-€75,155
Depreciation
-€20,388
Other operating charges
-€3,618
Financial income
+€1,228
Financial charges
-€19,582
Result 2025
-€97,954
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
+€17,294
Investment
-€189,498
Financing
+€170,000
Cash 2024
€19,973
From operations (derived)
+€17,294
Net result for the year
-€97,954
Depreciation
+€46,610
Stocks and contracts
+€40,159
Receivables within one year
+€1,984
Trade debts
+€2,032
Tax, wage and social debts
+€3,548
Other debts
+€20,914
Investment (derived)
-€189,498
Investment in fixed assets (net)
-€189,498
Financing
+€170,000
Debts after one year
+€170,000
Cash 2025
€17,770
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €266,427 | €364,968 | +€98,541 | +37.0% |
| Fixed assets | 21/28 | €189,226 | €332,114 | +€142,887 | +75.5% |
| Tangible fixed assets | 22/27 | €188,676 | €331,164 | +€142,487 | +75.5% |
| Land and buildings | 22 | €183,255 | €317,916 | +€134,661 | +73.5% |
| Plant, machinery and equipment | 23 | €3,849 | €12,978 | +€9,129 | +237% |
| Furniture and vehicles | 24 | €1,572 | €270 | -€1,303 | -82.9% |
| Financial fixed assets | 28 | €550 | €950 | +€400 | +72.7% |
| Current assets | 29/58 | €77,201 | €32,854 | -€44,346 | -57.4% |
| Stocks and contracts in progress | 3 | €51,465 | €11,306 | -€40,159 | -78.0% |
| Stocks | 30/36 | €51,465 | €11,306 | -€40,159 | -78.0% |
| Amounts receivable within one year | 40/41 | €5,763 | €3,779 | -€1,984 | -34.4% |
| Trade receivables | 40 | €1,525 | €1,293 | -€232 | -15.2% |
| Other amounts receivable | 41 | €4,238 | €2,486 | -€1,752 | -41.3% |
| Cash at bank and in hand | 54/58 | €19,973 | €17,770 | -€2,203 | -11.0% |
| Total equity and liabilities | 10/49 | €266,427 | €364,968 | +€98,541 | +37.0% |
| Equity | 10/15 | -€71,394 | -€169,347 | -€97,954 | -137% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,994 | -€187,947 | -€97,954 | -109% |
| Amounts payable | 17/49 | €337,821 | €534,315 | +€196,494 | +58.2% |
| Amounts payable after more than one year | 17 | €230,000 | €400,000 | +€170,000 | +73.9% |
| Financial debts | 170/4 | €230,000 | €400,000 | +€170,000 | +73.9% |
| Amounts payable within one year | 42/48 | €107,821 | €134,315 | +€26,494 | +24.6% |
| Trade debts | 44 | €571 | €2,603 | +€2,032 | +356% |
| Suppliers | 440/4 | €571 | €2,603 | +€2,032 | +356% |
| Taxes, remuneration and social security | 45 | €2,311 | €5,859 | +€3,548 | +154% |
| Taxes | 450/3 | €2,311 | €5,859 | +€3,548 | +154% |
| Other amounts payable | 47/48 | €104,939 | €125,853 | +€20,914 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,223 | €46,610 | +€20,388 | +77.7% |
| Other operating charges | 640/8 | €1,281 | €4,900 | +€3,618 | +282% |
| Gross operating margin | 9900 | €47,125 | -€28,030 | -€75,155 | |
| Operating profit (loss) | 9901 | €19,621 | -€79,540 | -€99,161 | |
| Financial income | 75/76B | €0 | €1,229 | +€1,228 | +1,228,470% |
| Recurring financial income | 75 | €0 | €1,229 | +€1,228 | +1,228,470% |
| Financial charges | 65/66B | €60 | €19,642 | +€19,582 | +32,637% |
| Recurring financial charges | 65 | €60 | €19,642 | +€19,582 | +32,637% |
| Profit (loss) for the period before taxes | 9903 | €19,561 | -€97,954 | -€117,514 | |
| Profit (loss) for the period | 9904 | €19,561 | -€97,954 | -€117,514 | |
| Profit (loss) for the period to be appropriated | 9905 | €19,561 | -€97,954 | -€117,514 |
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.