NORI WAREGEM: 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.
NORI WAREGEM
Largest movements
- Tangible fixed assets -€42,621
down €42,621 (-9.3%), from €460,726 to €418,105
of which Furniture and vehicles: -€21,374
- Receivables within one year -€26,870
down €26,870 (-66.4%), from €40,475 to €13,605
of which Trade receivables: -€20,726
- Cash -€8,968
down €8,968 (-6.1%), from €146,546 to €137,577
mainly Contributions, distributions and other (-€56,463) and Other debts (-€34,021)
- Reserves -€50,427
down €50,427 (-23.0%), from €219,613 to €169,186
- Other debts -€34,021
down €34,021 (-60.8%), from €55,996 to €21,975
- Trade debts +€23,215
up €23,215 (+703%), from €3,302 to €26,516
- Debts after one year -€19,509
down €19,509 (-5.1%), from €378,873 to €359,364
- Gross operating margin -€65,465
down €65,465 (-38.9%), from €168,157 to €102,692
- Staff costs -€20,009
down €20,009 (-47.2%), from €42,358 to €22,349
- Taxes -€7,627
down €7,627 (-75.8%), from €10,064 to €2,437
- Financial charges -€4,011
down €4,011 (-15.6%), from €25,791 to €21,779
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 | €717,508 | €638,482 | -€79,026 | -11.0% |
| Fixed assets | 21/28 | €460,726 | €418,105 | -€42,621 | -9.3% |
| Tangible fixed assets | 22/27 | €460,726 | €418,105 | -€42,621 | -9.3% |
| Land and buildings | 22 | €387,586 | €370,776 | -€16,810 | -4.3% |
| Plant, machinery and equipment | 23 | €9,459 | €5,022 | -€4,436 | -46.9% |
| Furniture and vehicles | 24 | €63,681 | €42,306 | -€21,374 | -33.6% |
| Current assets | 29/58 | €256,782 | €220,377 | -€36,405 | -14.2% |
| Stocks and contracts in progress | 3 | €63,642 | €62,584 | -€1,059 | -1.7% |
| Stocks | 30/36 | €63,642 | €62,584 | -€1,059 | -1.7% |
| Amounts receivable within one year | 40/41 | €40,475 | €13,605 | -€26,870 | -66.4% |
| Trade receivables | 40 | €21,938 | €1,212 | -€20,726 | -94.5% |
| Other amounts receivable | 41 | €18,538 | €12,393 | -€6,144 | -33.1% |
| Cash at bank and in hand | 54/58 | €146,546 | €137,577 | -€8,968 | -6.1% |
| Deferred charges and accrued income | 490/1 | €6,119 | €6,611 | +€492 | +8.0% |
| Total equity and liabilities | 10/49 | €717,508 | €638,482 | -€79,026 | -11.0% |
| Equity | 10/15 | €250,613 | €200,186 | -€50,427 | -20.1% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €219,613 | €169,186 | -€50,427 | -23.0% |
| Distributable reserves | 133 | €219,613 | €169,186 | -€50,427 | -23.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €466,895 | €438,296 | -€28,599 | -6.1% |
| Amounts payable after more than one year | 17 | €378,873 | €359,364 | -€19,509 | -5.1% |
| Financial debts | 170/4 | €378,873 | €359,364 | -€19,509 | -5.1% |
| Amounts payable within one year | 42/48 | €87,371 | €77,781 | -€9,590 | -11.0% |
| Current portion of amounts payable after more than one year | 42 | €14,879 | €16,647 | +€1,768 | +11.9% |
| Trade debts | 44 | €3,302 | €26,516 | +€23,215 | +703% |
| Suppliers | 440/4 | €3,302 | €26,516 | +€23,215 | +703% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €13,196 | €12,644 | -€552 | -4.2% |
| Taxes | 450/3 | €7,216 | €6,664 | -€552 | -7.7% |
| Remuneration and social security | 454/9 | €5,980 | €5,980 | = | 0.0% |
| Other amounts payable | 47/48 | €55,996 | €21,975 | -€34,021 | -60.8% |
| Accrued charges and deferred income | 492/3 | €650 | €1,150 | +€500 | +76.9% |
| Remuneration, social security and pensions | 62 | €42,358 | €22,349 | -€20,009 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,071 | €45,436 | +€365 | +0.8% |
| Other operating charges | 640/8 | €4,977 | €5,164 | +€187 | +3.8% |
| Gross operating margin | 9900 | €168,157 | €102,692 | -€65,465 | -38.9% |
| Operating profit (loss) | 9901 | €75,751 | €29,742 | -€46,008 | -60.7% |
| Financial income | 75/76B | €775 | €510 | -€265 | -34.2% |
| Recurring financial income | 75 | €775 | €510 | -€265 | -34.2% |
| Financial charges | 65/66B | €25,791 | €21,779 | -€4,011 | -15.6% |
| Recurring financial charges | 65 | €25,791 | €21,779 | -€4,011 | -15.6% |
| Profit (loss) for the period before taxes | 9903 | €50,735 | €8,473 | -€42,262 | -83.3% |
| Income taxes | 67/77 | €10,064 | €2,437 | -€7,627 | -75.8% |
| Profit (loss) for the period | 9904 | €40,671 | €6,036 | -€34,635 | -85.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,671 | €6,036 | -€34,635 | -85.2% |
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 20 October 2026 via checked.be.