NORIN: 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.
NORIN
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Other debts -€115,000
down €115,000 (-25.4%), from €453,472 to €338,472
- Reserves +€99,406
up €99,406 (+52.4%), from €189,874 to €289,280
of which Distributable reserves: +€99,406
- Financial income +€115,781
new in 2025: €115,781
- Taxes +€9,941
new in 2025: €9,941
- Gross operating margin -€200
down €200 (-4.2%), from -€4,760 to -€4,960
- Other operating charges -€52
down €52 (-5.3%), from €967 to €915
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 | €4,959,615 | €4,949,274 | -€10,341 | -0.2% |
| Fixed assets | 21/28 | €4,921,591 | €4,921,591 | = | 0.0% |
| Financial fixed assets | 28 | €4,921,591 | €4,921,591 | = | 0.0% |
| Current assets | 29/58 | €38,024 | €27,683 | -€10,341 | -27.2% |
| Current investments | 50/53 | €30,000 | €25,000 | -€5,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €7,373 | €1,724 | -€5,650 | -76.6% |
| Deferred charges and accrued income | 490/1 | €651 | €960 | +€309 | +47.4% |
| Total equity and liabilities | 10/49 | €4,959,615 | €4,949,274 | -€10,341 | -0.2% |
| Equity | 10/15 | €4,501,626 | €4,601,032 | +€99,406 | +2.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €189,874 | €289,280 | +€99,406 | +52.4% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Distributable reserves | 133 | €175,000 | €274,406 | +€99,406 | +56.8% |
| Profit (loss) carried forward | 14 | €4,249,752 | €4,249,752 | = | 0.0% |
| Amounts payable | 17/49 | €457,989 | €348,242 | -€109,747 | -24.0% |
| Amounts payable within one year | 42/48 | €457,102 | €348,242 | -€108,860 | -23.8% |
| Trade debts | 44 | €3,630 | - | -€3,630 | |
| Suppliers | 440/4 | €3,630 | - | -€3,630 | |
| Taxes, remuneration and social security | 45 | - | €9,770 | +€9,770 | |
| Taxes | 450/3 | - | €9,770 | +€9,770 | |
| Other amounts payable | 47/48 | €453,472 | €338,472 | -€115,000 | -25.4% |
| Accrued charges and deferred income | 492/3 | €887 | - | -€887 | |
| Other operating charges | 640/8 | €967 | €915 | -€52 | -5.3% |
| Gross operating margin | 9900 | -€4,760 | -€4,960 | -€200 | -4.2% |
| Operating profit (loss) | 9901 | -€5,727 | -€5,875 | -€148 | -2.6% |
| Financial income | 75/76B | - | €115,781 | +€115,781 | |
| Recurring financial income | 75 | - | €115,781 | +€115,781 | |
| Financial charges | 65/66B | €542 | €559 | +€17 | +3.2% |
| Recurring financial charges | 65 | €542 | €559 | +€17 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,269 | €109,347 | +€115,615 | |
| Income taxes | 67/77 | - | €9,941 | +€9,941 | |
| Profit (loss) for the period | 9904 | -€6,269 | €99,406 | +€105,675 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,269 | €99,406 | +€105,675 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.