NOREMI: 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.
NOREMI
Largest movements
- Cash +€205,916
up €205,916 (+69.5%), from €296,316 to €502,233
mainly Investment in fixed assets (net) (+€176,018) and Net result for the year (+€153,749)
- Tangible fixed assets -€187,087
down €187,087 (-64.0%), from €292,257 to €105,171
of which Land and buildings: -€178,986
- Deferred charges and accrued income -€48,317
down €48,317 (-71.9%), from €67,231 to €18,914
- Receivables after one year -€24,767
down €24,767 (-3.0%), from €816,681 to €791,914
- Receivables within one year +€20,433
up €20,433 (+46.7%), from €43,776 to €64,209
- Reserves +€153,749
up €153,749 (+11.9%), from €1.3m to €1.4m
of which Distributable reserves: +€153,749
- Debts after one year -€150,000
down €150,000 (-100.0%), from €150,000 to €0
- Other debts -€35,500
down €35,500 (-100.0%), from €35,500 to €0
- Turnover -€428,344
no longer reported in 2025 (was €428,344)
- Purchases and services -€146,910
no longer reported in 2025 (was €146,910)
- Gross operating margin -€75,495
down €75,495 (-24.9%), from €303,284 to €227,789
- Taxes -€16,749
down €16,749 (-17.4%), from €96,242 to €79,493
- Depreciation -€10,495
down €10,495 (-48.7%), from €21,564 to €11,069
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 | €1,516,262 | €1,482,441 | -€33,821 | -2.2% |
| Fixed assets | 21/28 | €292,257 | €105,171 | -€187,087 | -64.0% |
| Tangible fixed assets | 22/27 | €292,257 | €105,171 | -€187,087 | -64.0% |
| Land and buildings | 22 | €277,266 | €98,280 | -€178,986 | -64.6% |
| Plant, machinery and equipment | 23 | €1,202 | €601 | -€601 | -50.0% |
| Furniture and vehicles | 24 | €13,790 | €6,289 | -€7,500 | -54.4% |
| Current assets | 29/58 | €1,224,005 | €1,377,270 | +€153,266 | +12.5% |
| Amounts receivable after more than one year | 29 | €816,681 | €791,914 | -€24,767 | -3.0% |
| Other amounts receivable | 291 | €816,681 | €791,914 | -€24,767 | -3.0% |
| Amounts receivable within one year | 40/41 | €43,776 | €64,209 | +€20,433 | +46.7% |
| Other amounts receivable | 41 | €43,776 | €64,209 | +€20,433 | +46.7% |
| Cash at bank and in hand | 54/58 | €296,316 | €502,233 | +€205,916 | +69.5% |
| Deferred charges and accrued income | 490/1 | €67,231 | €18,914 | -€48,317 | -71.9% |
| Total equity and liabilities | 10/49 | €1,516,262 | €1,482,441 | -€33,821 | -2.2% |
| Equity | 10/15 | €1,311,431 | €1,465,180 | +€153,749 | +11.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,292,831 | €1,446,580 | +€153,749 | +11.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,292,831 | €1,446,580 | +€153,749 | +11.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €204,831 | €17,261 | -€187,570 | -91.6% |
| Amounts payable after more than one year | 17 | €150,000 | €0 | -€150,000 | -100.0% |
| Financial debts | 170/4 | €150,000 | €0 | -€150,000 | -100.0% |
| Amounts payable within one year | 42/48 | €53,831 | €16,811 | -€37,020 | -68.8% |
| Trade debts | 44 | €2,986 | €2,313 | -€673 | -22.5% |
| Suppliers | 440/4 | €2,986 | €2,313 | -€673 | -22.5% |
| Taxes, remuneration and social security | 45 | €15,345 | €14,498 | -€847 | -5.5% |
| Taxes | 450/3 | €12,459 | €14,483 | +€2,024 | +16.2% |
| Remuneration and social security | 454/9 | €2,886 | €15 | -€2,871 | -99.5% |
| Other amounts payable | 47/48 | €35,500 | €0 | -€35,500 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,000 | €450 | -€550 | -55.0% |
| Turnover | 70 | €428,344 | - | -€428,344 | |
| Non-recurring operating income | 76A | €0 | €20,394 | +€20,394 | |
| Goods, raw materials, services and sundry goods | 60/61 | €146,910 | - | -€146,910 | |
| Remuneration, social security and pensions | 62 | €11,460 | €2,699 | -€8,761 | -76.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,564 | €11,069 | -€10,495 | -48.7% |
| Other operating charges | 640/8 | €2,668 | €1,960 | -€708 | -26.5% |
| Gross operating margin | 9900 | €303,284 | €227,789 | -€75,495 | -24.9% |
| Operating profit (loss) | 9901 | €267,592 | €212,059 | -€55,532 | -20.8% |
| Financial income | 75/76B | €24,625 | €24,866 | +€241 | +1.0% |
| Recurring financial income | 75 | €24,625 | €24,866 | +€241 | +1.0% |
| Financial charges | 65/66B | €2,824 | €3,684 | +€861 | +30.5% |
| Recurring financial charges | 65 | €2,824 | €3,684 | +€861 | +30.5% |
| Profit (loss) for the period before taxes | 9903 | €289,393 | €233,241 | -€56,152 | -19.4% |
| Income taxes | 67/77 | €96,242 | €79,493 | -€16,749 | -17.4% |
| Profit (loss) for the period | 9904 | €193,151 | €153,749 | -€39,403 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €193,151 | €153,749 | -€39,403 | -20.4% |
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 7 October 2026 via checked.be.