NORIN: 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.
NORIN
Largest movements
- Stocks and contracts -€19,601
down €19,601 (-44.5%), from €44,046 to €24,445
of which Contracts in progress: -€15,393
- Receivables within one year -€14,864
down €14,864 (-61.2%), from €24,299 to €9,435
of which Trade receivables: -€19,494
- Cash +€9,156
up €9,156 (+10261.1%), from €89 to €9,245
mainly Stocks and contracts (+€19,601) and Receivables within one year (+€14,864)
- Tangible fixed assets -€2,344
down €2,344 (-36.0%), from €6,516 to €4,172
of which Furniture and vehicles: -€2,344
- Other debts -€14,815
down €14,815 (-71.2%), from €20,815 to €6,000
- Trade debts -€9,155
down €9,155 (-42.7%), from €21,424 to €12,268
- Tax, wage and social debts -€3,436
down €3,436 (-31.3%), from €10,977 to €7,540
of which Taxes: -€3,436
- Accrued charges and deferred income -€1,000
down €1,000 (-100.0%), from €1,000 to €0
- Reserves +€784
up €784 (+4.9%), from €16,133 to €16,918
- Depreciation -€6,174
down €6,174 (-72.5%), from €8,518 to €2,344
- Gross operating margin -€3,948
down €3,948 (-33.3%), from €11,870 to €7,922
- Financial charges +€1,108
up €1,108 (+192.9%), from €574 to €1,682
- Other operating charges +€323
up €323 (+24.2%), from €1,333 to €1,656
- Taxes +€311
up €311 (+19.5%), from €1,592 to €1,903
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 | €75,348 | €47,726 | -€27,622 | -36.7% |
| Fixed assets | 21/28 | €6,516 | €4,172 | -€2,344 | -36.0% |
| Tangible fixed assets | 22/27 | €6,516 | €4,172 | -€2,344 | -36.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €6,516 | €4,172 | -€2,344 | -36.0% |
| Current assets | 29/58 | €68,833 | €43,554 | -€25,278 | -36.7% |
| Stocks and contracts in progress | 3 | €44,046 | €24,445 | -€19,601 | -44.5% |
| Stocks | 30/36 | €25,995 | €21,788 | -€4,208 | -16.2% |
| Contracts in progress | 37 | €18,050 | €2,657 | -€15,393 | -85.3% |
| Amounts receivable within one year | 40/41 | €24,299 | €9,435 | -€14,864 | -61.2% |
| Trade receivables | 40 | €24,299 | €4,805 | -€19,494 | -80.2% |
| Other amounts receivable | 41 | - | €4,629 | +€4,629 | |
| Cash at bank and in hand | 54/58 | €89 | €9,245 | +€9,156 | +10261.1% |
| Deferred charges and accrued income | 490/1 | €399 | €430 | +€31 | +7.7% |
| Total equity and liabilities | 10/49 | €75,348 | €47,726 | -€27,622 | -36.7% |
| Equity | 10/15 | €21,133 | €21,918 | +€784 | +3.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,133 | €16,918 | +€784 | +4.9% |
| Distributable reserves | 133 | €16,133 | €16,918 | +€784 | +4.9% |
| Amounts payable | 17/49 | €54,215 | €25,809 | -€28,406 | -52.4% |
| Amounts payable within one year | 42/48 | €53,215 | €25,809 | -€27,406 | -51.5% |
| Trade debts | 44 | €21,424 | €12,268 | -€9,155 | -42.7% |
| Suppliers | 440/4 | €21,424 | €12,268 | -€9,155 | -42.7% |
| Taxes, remuneration and social security | 45 | €10,977 | €7,540 | -€3,436 | -31.3% |
| Taxes | 450/3 | €10,977 | €7,540 | -€3,436 | -31.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €20,815 | €6,000 | -€14,815 | -71.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | €0 | -€1,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €33 | €0 | -€33 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,518 | €2,344 | -€6,174 | -72.5% |
| Other operating charges | 640/8 | €1,333 | €1,656 | +€323 | +24.2% |
| Gross operating margin | 9900 | €11,870 | €7,922 | -€3,948 | -33.3% |
| Operating profit (loss) | 9901 | €1,986 | €3,922 | +€1,936 | +97.5% |
| Financial income | 75/76B | €270 | €447 | +€176 | +65.2% |
| Recurring financial income | 75 | €270 | €447 | +€176 | +65.2% |
| Financial charges | 65/66B | €574 | €1,682 | +€1,108 | +192.9% |
| Recurring financial charges | 65 | €574 | €1,682 | +€1,108 | +192.9% |
| Profit (loss) for the period before taxes | 9903 | €1,682 | €2,687 | +€1,005 | +59.7% |
| Income taxes | 67/77 | €1,592 | €1,903 | +€311 | +19.5% |
| Profit (loss) for the period | 9904 | €90 | €784 | +€694 | +767.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90 | €784 | +€694 | +767.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.