Norfey-SB: what changed
What changed
Norfey-SB
NACE 73.300, Public relations and communication consultancy
filed annual accounts (NBB)
Net result for the year
€12,953
2024 · €19,236-€6,284
Equity
€52,436
2024 · €45,123+€7,313
Cash
€13,106
2024 · €41,775-€28,670
Balance sheet total
€97,704
2024 · €105,569-€7,865
Largest movements
Assets
- Cash -€28,670
down €28,670 (-68.6%), from €41,775 to €13,106
mainly Receivables within one year (-€17,698) and Investment in fixed assets (net) (-€14,583)
- Receivables within one year +€17,698
up €17,698 (+125%), from €14,117 to €31,815
of which Trade receivables: +€14,061
- Deferred charges and accrued income +€3,610
up €3,610 (+95.3%), from €3,790 to €7,401
Equity and liabilities
- Other debts -€8,212
down €8,212 (-32.5%), from €25,242 to €17,030
- Debts after one year -€7,125
down €7,125 (-38.9%), from €18,336 to €11,211
- Reserves +€6,860
up €6,860 (+15.7%), from €43,687 to €50,547
Income statement
- Gross operating margin -€6,004
down €6,004 (-14.0%), from €42,995 to €36,991
- Depreciation +€1,150
up €1,150 (+8.2%), from €13,937 to €15,087
- Taxes -€664
down €664 (-10.0%), from €6,650 to €5,986
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
€19,236
Gross operating margin
-€6,004
Depreciation
-€1,150
Other operating charges
+€77
Financial income
-€287
Financial charges
+€416
Taxes
+€664
Result 2025
€12,953
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
-€1,590
Investment
-€14,583
Financing
-€12,497
Cash 2024
€41,775
From operations (derived)
-€1,590
Net result for the year
+€12,953
Depreciation
+€15,087
Receivables within one year
-€17,698
Deferred charges and accrued income
-€3,610
Trade debts
-€306
Tax, wage and social debts
-€260
Other debts
-€8,212
Accrued charges and deferred income
+€457
Investment (derived)
-€14,583
Investment in fixed assets (net)
-€14,583
Financing
-€12,497
Debts after one year
-€7,125
Current portion of long-term debt
+€267
Contributions, distributions and other
-€5,640
Cash 2025
€13,106
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,569 | €97,704 | -€7,865 | -7.5% |
| Fixed assets | 21/28 | €45,887 | €45,383 | -€504 | -1.1% |
| Tangible fixed assets | 22/27 | €45,887 | €45,383 | -€504 | -1.1% |
| Plant, machinery and equipment | 23 | €2,493 | €1,499 | -€994 | -39.9% |
| Furniture and vehicles | 24 | €39,691 | €26,948 | -€12,744 | -32.1% |
| Other tangible fixed assets | 26 | €3,703 | €16,936 | +€13,233 | +357% |
| Current assets | 29/58 | €59,682 | €52,321 | -€7,361 | -12.3% |
| Amounts receivable within one year | 40/41 | €14,117 | €31,815 | +€17,698 | +125% |
| Trade receivables | 40 | €14,117 | €28,178 | +€14,061 | +99.6% |
| Other amounts receivable | 41 | - | €3,637 | +€3,637 | |
| Cash at bank and in hand | 54/58 | €41,775 | €13,106 | -€28,670 | -68.6% |
| Deferred charges and accrued income | 490/1 | €3,790 | €7,401 | +€3,610 | +95.3% |
| Total equity and liabilities | 10/49 | €105,569 | €97,704 | -€7,865 | -7.5% |
| Equity | 10/15 | €45,123 | €52,436 | +€7,313 | +16.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €43,687 | €50,547 | +€6,860 | +15.7% |
| Distributable reserves | 133 | €43,687 | €50,547 | +€6,860 | +15.7% |
| Profit (loss) carried forward | 14 | €436 | €889 | +€453 | +104% |
| Amounts payable | 17/49 | €60,446 | €45,268 | -€15,178 | -25.1% |
| Amounts payable after more than one year | 17 | €18,336 | €11,211 | -€7,125 | -38.9% |
| Financial debts | 170/4 | €18,336 | €11,211 | -€7,125 | -38.9% |
| Amounts payable within one year | 42/48 | €42,104 | €33,594 | -€8,510 | -20.2% |
| Current portion of amounts payable after more than one year | 42 | €6,857 | €7,125 | +€267 | +3.9% |
| Trade debts | 44 | €1,960 | €1,654 | -€306 | -15.6% |
| Suppliers | 440/4 | €1,960 | €1,654 | -€306 | -15.6% |
| Taxes, remuneration and social security | 45 | €8,044 | €7,784 | -€260 | -3.2% |
| Taxes | 450/3 | €7,574 | €7,254 | -€320 | -4.2% |
| Remuneration and social security | 454/9 | €471 | €530 | +€60 | +12.7% |
| Other amounts payable | 47/48 | €25,242 | €17,030 | -€8,212 | -32.5% |
| Accrued charges and deferred income | 492/3 | €6 | €463 | +€457 | +7,614% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,937 | €15,087 | +€1,150 | +8.2% |
| Other operating charges | 640/8 | €543 | €465 | -€77 | -14.2% |
| Gross operating margin | 9900 | €42,995 | €36,991 | -€6,004 | -14.0% |
| Operating profit (loss) | 9901 | €28,515 | €21,438 | -€7,077 | -24.8% |
| Financial income | 75/76B | €311 | €25 | -€287 | -92.1% |
| Recurring financial income | 75 | €311 | €25 | -€287 | -92.1% |
| Financial charges | 65/66B | €2,939 | €2,524 | -€416 | -14.1% |
| Recurring financial charges | 65 | €2,939 | €2,524 | -€416 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €25,887 | €18,939 | -€6,948 | -26.8% |
| Income taxes | 67/77 | €6,650 | €5,986 | -€664 | -10.0% |
| Profit (loss) for the period | 9904 | €19,236 | €12,953 | -€6,284 | -32.7% |
| Profit (loss) for the period to be appropriated | 9905 | €19,236 | €12,953 | -€6,284 | -32.7% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 2 November 2026 via checked.be.