NORG ELECTRICITE: 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.
NORG ELECTRICITE
Largest movements
- Receivables within one year +€155,062
up €155,062 (+87.1%), from €177,957 to €333,019
of which Other amounts receivable: +€86,305
- Tangible fixed assets +€61,679
up €61,679 (+94.4%), from €65,364 to €127,043
of which Leasing and similar rights: +€52,185
- Stocks and contracts +€57,000
up €57,000 (+47.5%), from €120,000 to €177,000
of which Contracts in progress: +€57,000
- Cash -€28,234
down €28,234 (-66.3%), from €42,563 to €14,329
mainly Receivables within one year (-€155,062) and Investment in fixed assets (net) (-€85,506)
- Other debts +€123,561
up €123,561 (+2,107%), from €5,864 to €129,425
- Tax, wage and social debts +€50,621
up €50,621 (+167%), from €30,299 to €80,919
of which Remuneration and social security: +€31,364
- Debts after one year +€45,241
up €45,241 (+110%), from €41,256 to €86,497
- Profit (loss) carried forward +€28,933
up €28,933 (+175%), from €16,569 to €45,502
- Trade debts -€16,957
down €16,957 (-5.5%), from €307,662 to €290,705
- Gross operating margin +€152,843
up €152,843 (+67.2%), from €227,337 to €380,180
- Staff costs +€127,559
up €127,559 (+66.6%), from €191,447 to €319,006
- Depreciation +€12,316
up €12,316 (+107%), from €11,510 to €23,826
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 | €418,955 | €665,020 | +€246,065 | +58.7% |
| Fixed assets | 21/28 | €65,768 | €127,447 | +€61,679 | +93.8% |
| Tangible fixed assets | 22/27 | €65,364 | €127,043 | +€61,679 | +94.4% |
| Furniture and vehicles | 24 | €14,328 | €23,822 | +€9,494 | +66.3% |
| Leasing and similar rights | 25 | €51,036 | €103,221 | +€52,185 | +102% |
| Financial fixed assets | 28 | €404 | €404 | = | 0.0% |
| Current assets | 29/58 | €353,187 | €537,572 | +€184,386 | +52.2% |
| Stocks and contracts in progress | 3 | €120,000 | €177,000 | +€57,000 | +47.5% |
| Stocks | 30/36 | €120,000 | €120,000 | = | 0.0% |
| Contracts in progress | 37 | - | €57,000 | +€57,000 | |
| Amounts receivable within one year | 40/41 | €177,957 | €333,019 | +€155,062 | +87.1% |
| Trade receivables | 40 | €111,000 | €179,757 | +€68,757 | +61.9% |
| Other amounts receivable | 41 | €66,957 | €153,262 | +€86,305 | +129% |
| Cash at bank and in hand | 54/58 | €42,563 | €14,329 | -€28,234 | -66.3% |
| Deferred charges and accrued income | 490/1 | €12,667 | €13,224 | +€557 | +4.4% |
| Total equity and liabilities | 10/49 | €418,955 | €665,020 | +€246,065 | +58.7% |
| Equity | 10/15 | €21,569 | €50,502 | +€28,933 | +134% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,569 | €45,502 | +€28,933 | +175% |
| Amounts payable | 17/49 | €397,386 | €614,518 | +€217,132 | +54.6% |
| Amounts payable after more than one year | 17 | €41,256 | €86,497 | +€45,241 | +110% |
| Financial debts | 170/4 | €41,256 | €86,497 | +€45,241 | +110% |
| Amounts payable within one year | 42/48 | €354,530 | €526,021 | +€171,490 | +48.4% |
| Current portion of amounts payable after more than one year | 42 | €10,706 | €24,972 | +€14,266 | +133% |
| Trade debts | 44 | €307,662 | €290,705 | -€16,957 | -5.5% |
| Suppliers | 440/4 | €307,662 | €290,705 | -€16,957 | -5.5% |
| Taxes, remuneration and social security | 45 | €30,299 | €80,919 | +€50,621 | +167% |
| Taxes | 450/3 | €4,390 | €23,647 | +€19,257 | +439% |
| Remuneration and social security | 454/9 | €25,908 | €57,272 | +€31,364 | +121% |
| Other amounts payable | 47/48 | €5,864 | €129,425 | +€123,561 | +2,107% |
| Accrued charges and deferred income | 492/3 | €1,600 | €2,000 | +€400 | +25.0% |
| Remuneration, social security and pensions | 62 | €191,447 | €319,006 | +€127,559 | +66.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,510 | €23,826 | +€12,316 | +107% |
| Other operating charges | 640/8 | €1,363 | €2,232 | +€869 | +63.7% |
| Gross operating margin | 9900 | €227,337 | €380,180 | +€152,843 | +67.2% |
| Operating profit (loss) | 9901 | €23,016 | €35,115 | +€12,099 | +52.6% |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Financial charges | 65/66B | €3,897 | €6,159 | +€2,262 | +58.0% |
| Recurring financial charges | 65 | €3,897 | €6,159 | +€2,262 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €19,119 | €28,968 | +€9,849 | +51.5% |
| Income taxes | 67/77 | €2,550 | €35 | -€2,515 | -98.6% |
| Profit (loss) for the period | 9904 | €16,569 | €28,933 | +€12,364 | +74.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,569 | €28,933 | +€12,364 | +74.6% |
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 26 October 2026 via checked.be.