NORMALAB BELGIUM: 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.
What changed
NORMALAB BELGIUM
NACE 26.510, Manufacture of computer, electronic and optical products
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€107,222
2024 · -€207,006+€99,784
Equity
€255,832
2024 · €363,054-€107,222
Cash
€38,487
2024 · €11,131+€27,355
Balance sheet total
€1.3m
2024 · €1.3m+€8,135
Largest movements
Assets
- Intangible fixed assets -€71,601
down €71,601 (-25.0%), from €286,404 to €214,803
- Stocks and contracts +€62,088
up €62,088 (+9.1%), from €684,517 to €746,605
- Cash +€27,355
up €27,355 (+245.8%), from €11,131 to €38,487
mainly Depreciation (+€73,237) and Trade debts (+€71,449)
Equity and liabilities
- Profit (loss) carried forward -€107,222
down €107,222 (-9.6%), from -€1.1m to -€1.2m
- Trade debts +€71,449
up €71,449 (+22.6%), from €315,892 to €387,340
- Short-term financial debts +€40,000
up €40,000 (+7.1%), from €560,000 to €600,000
Income statement
- Gross operating margin +€76,792
up €76,792 (+17.6%), from €437,148 to €513,941
- Write-downs -€27,950
down €27,950, from €19,991 to -€7,959
- Staff costs +€26,507
up €26,507 (+5.4%), from €490,702 to €517,210
- Depreciation -€19,042
down €19,042 (-20.6%), from €92,279 to €73,237
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.
Result 2024
-€207,006
Gross operating margin
+€76,792
Staff costs
-€26,507
Depreciation
+€19,042
Write-downs
+€27,950
Other operating charges
-€46
Other operating items
+€488
Financial income
+€1
Financial charges
+€2,062
Result 2025
-€107,222
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.
From operations
-€12,324
Investment
€0
Financing
+€39,679
Cash 2024
€11,131
From operations (derived)
-€12,324
Net result for the year
-€107,222
Depreciation
+€73,237
Stocks and contracts
-€62,088
Receivables within one year
+€10,985
Deferred charges and accrued income
-€2,913
Trade debts
+€71,449
Tax, wage and social debts
+€3,674
Other debts
-€291
Accrued charges and deferred income
+€847
Financing
+€39,679
Current portion of long-term debt
-€321
Short-term financial debts
+€40,000
Cash 2025
€38,487
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,291,383 | €1,299,518 | +€8,135 | +0.6% |
| Fixed assets | 21/28 | €289,795 | €216,559 | -€73,237 | -25.3% |
| Intangible fixed assets | 21 | €286,404 | €214,803 | -€71,601 | -25.0% |
| Tangible fixed assets | 22/27 | €3,392 | €1,756 | -€1,636 | -48.2% |
| Plant, machinery and equipment | 23 | €1,775 | €869 | -€906 | -51.0% |
| Furniture and vehicles | 24 | €434 | - | -€434 | |
| Other tangible fixed assets | 26 | €1,183 | €887 | -€296 | -25.0% |
| Current assets | 29/58 | €1,001,588 | €1,082,959 | +€81,372 | +8.1% |
| Stocks and contracts in progress | 3 | €684,517 | €746,605 | +€62,088 | +9.1% |
| Stocks | 30/36 | €684,517 | €746,605 | +€62,088 | +9.1% |
| Amounts receivable within one year | 40/41 | €295,419 | €284,434 | -€10,985 | -3.7% |
| Trade receivables | 40 | €270,662 | €254,275 | -€16,388 | -6.1% |
| Other amounts receivable | 41 | €24,757 | €30,160 | +€5,403 | +21.8% |
| Cash at bank and in hand | 54/58 | €11,131 | €38,487 | +€27,355 | +245.8% |
| Deferred charges and accrued income | 490/1 | €10,520 | €13,433 | +€2,913 | +27.7% |
| Total equity and liabilities | 10/49 | €1,291,383 | €1,299,518 | +€8,135 | +0.6% |
| Equity | 10/15 | €363,054 | €255,832 | -€107,222 | -29.5% |
| Contributions | 10/11 | €1,350,000 | €1,350,000 | = | 0.0% |
| Capital | 10 | €1,350,000 | €1,350,000 | = | 0.0% |
| Issued capital | 100 | €1,350,000 | €1,350,000 | = | 0.0% |
| Reserves | 13 | €135,000 | €135,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €65,000 | €65,000 | = | 0.0% |
| Legal reserve | 130 | €65,000 | €65,000 | = | 0.0% |
| Distributable reserves | 133 | €70,000 | €70,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,121,946 | -€1,229,168 | -€107,222 | -9.6% |
| Amounts payable | 17/49 | €928,329 | €1,043,686 | +€115,358 | +12.4% |
| Amounts payable within one year | 42/48 | €928,329 | €1,042,839 | +€114,510 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €2,297 | €1,976 | -€321 | -14.0% |
| Financial debts | 43 | €560,000 | €600,000 | +€40,000 | +7.1% |
| Credit institutions | 430/8 | €560,000 | €600,000 | +€40,000 | +7.1% |
| Trade debts | 44 | €315,892 | €387,340 | +€71,449 | +22.6% |
| Suppliers | 440/4 | €315,892 | €387,340 | +€71,449 | +22.6% |
| Taxes, remuneration and social security | 45 | €49,849 | €53,522 | +€3,674 | +7.4% |
| Taxes | 450/3 | €4,603 | €4,997 | +€394 | +8.6% |
| Remuneration and social security | 454/9 | €45,246 | €48,525 | +€3,279 | +7.2% |
| Other amounts payable | 47/48 | €291 | - | -€291 | |
| Accrued charges and deferred income | 492/3 | - | €847 | +€847 | |
| Remuneration, social security and pensions | 62 | €490,702 | €517,210 | +€26,507 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,279 | €73,237 | -€19,042 | -20.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,991 | -€7,959 | -€27,950 | |
| Other operating charges | 640/8 | €1,836 | €1,881 | +€46 | +2.5% |
| Non-recurring operating charges | 66A | €525 | €36 | -€488 | -93.1% |
| Gross operating margin | 9900 | €437,148 | €513,941 | +€76,792 | +17.6% |
| Operating profit (loss) | 9901 | -€168,185 | -€70,464 | +€97,721 | +58.1% |
| Financial income | 75/76B | €1 | €2 | +€1 | +80.5% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +80.5% |
| Non-recurring financial income | 76B | - | €2 | +€2 | |
| Financial charges | 65/66B | €38,822 | €36,760 | -€2,062 | -5.3% |
| Recurring financial charges | 65 | €38,822 | €36,760 | -€2,062 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | -€207,006 | -€107,222 | +€99,784 | +48.2% |
| Profit (loss) for the period | 9904 | -€207,006 | -€107,222 | +€99,784 | +48.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€207,006 | -€107,222 | +€99,784 | +48.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.