NORG: 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.
NORG
Largest movements
- Tangible fixed assets +€14,628
up €14,628 (+3.0%), from €488,839 to €503,468
of which Land and buildings: +€15,813
- Profit (loss) carried forward -€29,189
down €29,189 (-78.1%), from -€37,388 to -€66,577
- Current portion of long-term debt +€28,454
new in 2025: €28,454
- Other debts +€21,512
up €21,512 (+35.2%), from €61,055 to €82,567
- Gross operating margin +€12,970
up €12,970 (+103.2%), from €12,571 to €25,541
- Depreciation +€5,351
up €5,351 (+22.9%), from €23,384 to €28,735
- Other operating charges -€526
down €526 (-15.8%), from €3,327 to €2,801
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 | €489,219 | €506,361 | +€17,141 | +3.5% |
| Fixed assets | 21/28 | €488,839 | €503,468 | +€14,628 | +3.0% |
| Tangible fixed assets | 22/27 | €488,839 | €503,468 | +€14,628 | +3.0% |
| Land and buildings | 22 | €477,041 | €492,855 | +€15,813 | +3.3% |
| Furniture and vehicles | 24 | €11,798 | €10,613 | -€1,185 | -10.0% |
| Current assets | 29/58 | €380 | €2,893 | +€2,513 | +661.1% |
| Cash at bank and in hand | 54/58 | €380 | €2,893 | +€2,513 | +661.1% |
| Total equity and liabilities | 10/49 | €489,219 | €506,361 | +€17,141 | +3.5% |
| Equity | 10/15 | -€27,388 | -€56,577 | -€29,189 | -106.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,388 | -€66,577 | -€29,189 | -78.1% |
| Amounts payable | 17/49 | €516,607 | €562,938 | +€46,330 | +9.0% |
| Amounts payable after more than one year | 17 | €451,637 | €448,831 | -€2,806 | -0.6% |
| Financial debts | 170/4 | €451,637 | €448,831 | -€2,806 | -0.6% |
| Amounts payable within one year | 42/48 | €61,442 | €114,107 | +€52,665 | +85.7% |
| Current portion of amounts payable after more than one year | 42 | - | €28,454 | +€28,454 | |
| Trade debts | 44 | €387 | €3,086 | +€2,699 | +696.7% |
| Suppliers | 440/4 | €387 | €3,086 | +€2,699 | +696.7% |
| Other amounts payable | 47/48 | €61,055 | €82,567 | +€21,512 | +35.2% |
| Accrued charges and deferred income | 492/3 | €3,529 | - | -€3,529 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,384 | €28,735 | +€5,351 | +22.9% |
| Other operating charges | 640/8 | €3,327 | €2,801 | -€526 | -15.8% |
| Gross operating margin | 9900 | €12,571 | €25,541 | +€12,970 | +103.2% |
| Operating profit (loss) | 9901 | -€14,140 | -€5,995 | +€8,145 | +57.6% |
| Financial charges | 65/66B | €23,249 | €23,194 | -€55 | -0.2% |
| Recurring financial charges | 65 | €23,249 | €23,194 | -€55 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | -€37,388 | -€29,189 | +€8,200 | +21.9% |
| Profit (loss) for the period | 9904 | -€37,388 | -€29,189 | +€8,200 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,388 | -€29,189 | +€8,200 | +21.9% |
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 5 October 2026 via checked.be.