NORENCO LTD: 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.
NORENCO LTD
Largest movements
- Tangible fixed assets -€30,694
down €30,694 (-7.6%), from €402,180 to €371,486
of which Furniture and vehicles: -€15,767
- Cash -€18,271
down €18,271 (-58.2%), from €31,418 to €13,147
mainly Net result for the year (-€23,818) and Current investments (-€12,766)
- Current investments +€12,766
up €12,766 (+8.8%), from €144,762 to €157,528
- Receivables within one year +€12,281
up €12,281 (+2.2%), from €556,971 to €569,252
of which Other amounts receivable: +€7,963
- Profit (loss) carried forward -€23,819
down €23,819 (-2.1%), from €1.1m to €1.1m
- Financial income +€10,313
up €10,313 (+74.5%), from €13,846 to €24,159
- Gross operating margin +€9,722
up €9,722 (+56.5%), from -€17,195 to -€7,473
- Other operating charges +€3,888
up €3,888 (+168%), from €2,319 to €6,207
- Financial charges +€3,575
up €3,575 (+187%), from €1,913 to €5,488
- Taxes -€3,424
down €3,424, from €1,539 to -€1,885
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 | €1,135,799 | €1,111,881 | -€23,918 | -2.1% |
| Fixed assets | 21/28 | €402,180 | €371,486 | -€30,694 | -7.6% |
| Tangible fixed assets | 22/27 | €402,180 | €371,486 | -€30,694 | -7.6% |
| Land and buildings | 22 | €362,690 | €347,763 | -€14,927 | -4.1% |
| Furniture and vehicles | 24 | €39,490 | €23,723 | -€15,767 | -39.9% |
| Current assets | 29/58 | €733,619 | €740,395 | +€6,776 | +0.9% |
| Amounts receivable within one year | 40/41 | €556,971 | €569,252 | +€12,281 | +2.2% |
| Trade receivables | 40 | - | €4,318 | +€4,318 | |
| Other amounts receivable | 41 | €556,971 | €564,934 | +€7,963 | +1.4% |
| Current investments | 50/53 | €144,762 | €157,528 | +€12,766 | +8.8% |
| Cash at bank and in hand | 54/58 | €31,418 | €13,147 | -€18,271 | -58.2% |
| Deferred charges and accrued income | 490/1 | €468 | €468 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,135,799 | €1,111,881 | -€23,918 | -2.1% |
| Equity | 10/15 | €1,135,619 | €1,111,800 | -€23,819 | -2.1% |
| Contributions | 10/11 | €1,481 | €1,481 | = | 0.0% |
| Capital | 10 | €1,481 | €1,481 | = | 0.0% |
| Issued capital | 100 | €1,481 | €1,481 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,134,138 | €1,110,319 | -€23,819 | -2.1% |
| Amounts payable | 17/49 | €180 | €81 | -€99 | -55.0% |
| Amounts payable within one year | 42/48 | €180 | €81 | -€99 | -55.0% |
| Trade debts | 44 | €180 | €81 | -€99 | -55.0% |
| Suppliers | 440/4 | €180 | €81 | -€99 | -55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,694 | €30,694 | = | 0.0% |
| Other operating charges | 640/8 | €2,319 | €6,207 | +€3,888 | +168% |
| Gross operating margin | 9900 | -€17,195 | -€7,473 | +€9,722 | +56.5% |
| Operating profit (loss) | 9901 | -€50,208 | -€44,374 | +€5,834 | +11.6% |
| Financial income | 75/76B | €13,846 | €24,159 | +€10,313 | +74.5% |
| Recurring financial income | 75 | €13,846 | €24,159 | +€10,313 | +74.5% |
| Financial charges | 65/66B | €1,913 | €5,488 | +€3,575 | +187% |
| Recurring financial charges | 65 | €1,913 | €5,488 | +€3,575 | +187% |
| Profit (loss) for the period before taxes | 9903 | -€38,275 | -€25,703 | +€12,572 | +32.8% |
| Income taxes | 67/77 | €1,539 | -€1,885 | -€3,424 | |
| Profit (loss) for the period | 9904 | -€39,814 | -€23,818 | +€15,996 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,814 | -€23,818 | +€15,996 | +40.2% |
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 27 October 2026 via checked.be.