NORMA GREEN: 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.
NORMA GREEN
Largest movements
- Cash -€15,932
down €15,932 (-4.3%), from €368,250 to €352,318
mainly Other debts (-€29,999) and Receivables within one year (-€11,536)
- Receivables within one year +€11,536
up €11,536 (+61.2%), from €18,845 to €30,381
of which Trade receivables: +€12,066
- Tangible fixed assets -€8,046
down €8,046 (-34.1%), from €23,576 to €15,530
of which Furniture and vehicles: -€7,917
- Other debts -€29,999
down €29,999 (-40.5%), from €74,017 to €44,018
- Reserves +€19,438
up €19,438 (+5.8%), from €335,245 to €354,683
of which Distributable reserves: +€19,438
- Gross operating margin -€19,724
down €19,724 (-32.3%), from €61,032 to €41,308
- Taxes -€11,290
down €11,290 (-52.4%), from €21,532 to €10,242
- Other operating charges +€4,673
up €4,673 (+1,206%), from €387 to €5,060
- Depreciation -€1,688
down €1,688 (-15.4%), from €10,984 to €9,296
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 | €433,838 | €421,556 | -€12,282 | -2.8% |
| Fixed assets | 21/28 | €23,576 | €15,530 | -€8,046 | -34.1% |
| Tangible fixed assets | 22/27 | €23,576 | €15,530 | -€8,046 | -34.1% |
| Furniture and vehicles | 24 | €23,447 | €15,530 | -€7,917 | -33.8% |
| Other tangible fixed assets | 26 | €129 | - | -€129 | |
| Current assets | 29/58 | €410,262 | €406,026 | -€4,236 | -1.0% |
| Amounts receivable within one year | 40/41 | €18,845 | €30,381 | +€11,536 | +61.2% |
| Trade receivables | 40 | €14,822 | €26,888 | +€12,066 | +81.4% |
| Other amounts receivable | 41 | €4,024 | €3,493 | -€531 | -13.2% |
| Current investments | 50/53 | €19,000 | €19,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €368,250 | €352,318 | -€15,932 | -4.3% |
| Deferred charges and accrued income | 490/1 | €4,167 | €4,327 | +€160 | +3.8% |
| Total equity and liabilities | 10/49 | €433,838 | €421,556 | -€12,282 | -2.8% |
| Equity | 10/15 | €353,795 | €373,233 | +€19,438 | +5.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €335,245 | €354,683 | +€19,438 | +5.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €333,385 | €352,823 | +€19,438 | +5.8% |
| Amounts payable | 17/49 | €80,042 | €48,322 | -€31,720 | -39.6% |
| Amounts payable within one year | 42/48 | €79,414 | €48,322 | -€31,092 | -39.2% |
| Trade debts | 44 | €1,554 | €2,784 | +€1,230 | +79.2% |
| Suppliers | 440/4 | €1,554 | €2,784 | +€1,230 | +79.2% |
| Taxes, remuneration and social security | 45 | €3,843 | €1,520 | -€2,323 | -60.5% |
| Taxes | 450/3 | €3,843 | €1,520 | -€2,323 | -60.5% |
| Other amounts payable | 47/48 | €74,017 | €44,018 | -€29,999 | -40.5% |
| Accrued charges and deferred income | 492/3 | €628 | - | -€628 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,984 | €9,296 | -€1,688 | -15.4% |
| Other operating charges | 640/8 | €387 | €5,060 | +€4,673 | +1,206% |
| Gross operating margin | 9900 | €61,032 | €41,308 | -€19,724 | -32.3% |
| Operating profit (loss) | 9901 | €49,660 | €26,951 | -€22,709 | -45.7% |
| Financial income | 75/76B | €3,239 | €2,938 | -€300 | -9.3% |
| Recurring financial income | 75 | €3,239 | €2,938 | -€300 | -9.3% |
| Financial charges | 65/66B | €208 | €210 | +€2 | +0.8% |
| Recurring financial charges | 65 | €208 | €210 | +€2 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €52,690 | €29,680 | -€23,011 | -43.7% |
| Income taxes | 67/77 | €21,532 | €10,242 | -€11,290 | -52.4% |
| Profit (loss) for the period | 9904 | €31,158 | €19,438 | -€11,721 | -37.6% |
| Profit (loss) for the period to be appropriated | 9905 | €31,158 | €19,438 | -€11,721 | -37.6% |
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 22 October 2026 via checked.be.