NORENTO: 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.
NORENTO
Largest movements
- Current investments +€276,000
new in 2025: €276,000
- Cash -€221,338
down €221,338 (-43.3%), from €511,747 to €290,409
mainly Current investments (-€276,000) and Contributions, distributions and other (-€50,529)
- Receivables within one year +€38,274
up €38,274 (+74.5%), from €51,406 to €89,680
of which Other amounts receivable: +€40,687
- Tangible fixed assets +€16,274
up €16,274 (+2459.6%), from €662 to €16,936
of which Furniture and vehicles: +€16,274
- Reserves +€120,608
up €120,608 (+23.0%), from €524,312 to €644,920
of which Distributable reserves: +€120,608
- Gross operating margin +€57,122
up €57,122 (+29.3%), from €195,168 to €252,291
- Taxes +€17,975
up €17,975 (+32.2%), from €55,797 to €73,772
- Financial income +€7,478
up €7,478 (+585.3%), from €1,278 to €8,756
- Depreciation +€4,019
up €4,019 (+281.7%), from €1,427 to €5,446
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 | €565,141 | €678,102 | +€112,961 | +20.0% |
| Fixed assets | 21/28 | €1,323 | €17,597 | +€16,274 | +1230.4% |
| Tangible fixed assets | 22/27 | €662 | €16,936 | +€16,274 | +2459.6% |
| Furniture and vehicles | 24 | €662 | €16,936 | +€16,274 | +2459.6% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Financial fixed assets | 28 | €661 | €661 | = | 0.0% |
| Current assets | 29/58 | €563,818 | €660,506 | +€96,687 | +17.1% |
| Amounts receivable within one year | 40/41 | €51,406 | €89,680 | +€38,274 | +74.5% |
| Trade receivables | 40 | €42,574 | €40,161 | -€2,413 | -5.7% |
| Other amounts receivable | 41 | €8,832 | €49,519 | +€40,687 | +460.7% |
| Current investments | 50/53 | - | €276,000 | +€276,000 | |
| Cash at bank and in hand | 54/58 | €511,747 | €290,409 | -€221,338 | -43.3% |
| Deferred charges and accrued income | 490/1 | €666 | €4,416 | +€3,751 | +563.6% |
| Total equity and liabilities | 10/49 | €565,141 | €678,102 | +€112,961 | +20.0% |
| Equity | 10/15 | €536,712 | €657,320 | +€120,608 | +22.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €524,312 | €644,920 | +€120,608 | +23.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €522,457 | €643,065 | +€120,608 | +23.1% |
| Amounts payable | 17/49 | €28,429 | €20,783 | -€7,647 | -26.9% |
| Amounts payable within one year | 42/48 | €27,258 | €20,783 | -€6,475 | -23.8% |
| Trade debts | 44 | €7,005 | €2,600 | -€4,405 | -62.9% |
| Suppliers | 440/4 | €7,005 | €2,600 | -€4,405 | -62.9% |
| Taxes, remuneration and social security | 45 | €18,587 | €16,465 | -€2,122 | -11.4% |
| Taxes | 450/3 | €18,587 | €16,465 | -€2,122 | -11.4% |
| Other amounts payable | 47/48 | €1,666 | €1,718 | +€52 | +3.1% |
| Accrued charges and deferred income | 492/3 | €1,172 | - | -€1,172 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,427 | €5,446 | +€4,019 | +281.7% |
| Other operating charges | 640/8 | €1,111 | €1,227 | +€116 | +10.4% |
| Gross operating margin | 9900 | €195,168 | €252,291 | +€57,122 | +29.3% |
| Operating profit (loss) | 9901 | €192,630 | €245,618 | +€52,988 | +27.5% |
| Financial income | 75/76B | €1,278 | €8,756 | +€7,478 | +585.3% |
| Recurring financial income | 75 | €1,278 | €8,756 | +€7,478 | +585.3% |
| Financial charges | 65/66B | €7,957 | €9,465 | +€1,508 | +19.0% |
| Recurring financial charges | 65 | €7,957 | €9,465 | +€1,508 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €185,951 | €244,909 | +€58,958 | +31.7% |
| Income taxes | 67/77 | €55,797 | €73,772 | +€17,975 | +32.2% |
| Profit (loss) for the period | 9904 | €130,154 | €171,137 | +€40,983 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €130,154 | €171,137 | +€40,983 | +31.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.