NORMANDY CORNER: 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.
NORMANDY CORNER
Largest movements
- Tangible fixed assets +€417,732
up €417,732 (+8.0%), from €5.2m to €5.7m
- Debts after one year +€334,169
up €334,169 (+246.4%), from €135,604 to €469,773
- Profit (loss) carried forward -€316,114
down €316,114 (-36.9%), from €856,181 to €540,067
- Other debts +€224,066
up €224,066 (+16.9%), from €1.3m to €1.6m
- Provisions +€144,107
new in 2025: €144,107
- Provisions +€144,107
new in 2025: €144,107
- Depreciation +€32,910
up €32,910 (+16.9%), from €194,697 to €227,607
- Gross operating margin -€8,139
down €8,139 (-8.5%), from €95,203 to €87,064
- Financial charges +€5,463
up €5,463 (+94.0%), from €5,815 to €11,278
- Financial income +€2,424
new in 2025: €2,424
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 | €9,081,430 | €9,468,174 | +€386,744 | +4.3% |
| Fixed assets | 21/28 | €8,899,419 | €9,317,152 | +€417,732 | +4.7% |
| Tangible fixed assets | 22/27 | €5,233,215 | €5,650,947 | +€417,732 | +8.0% |
| Land and buildings | 22 | €5,233,215 | €5,650,947 | +€417,732 | +8.0% |
| Financial fixed assets | 28 | €3,666,205 | €3,666,205 | = | 0.0% |
| Current assets | 29/58 | €182,011 | €151,023 | -€30,988 | -17.0% |
| Amounts receivable within one year | 40/41 | €153,780 | €118,408 | -€35,372 | -23.0% |
| Other amounts receivable | 41 | €153,780 | €118,408 | -€35,372 | -23.0% |
| Cash at bank and in hand | 54/58 | €5,024 | €19,435 | +€14,412 | +286.9% |
| Deferred charges and accrued income | 490/1 | €23,206 | €13,179 | -€10,028 | -43.2% |
| Total equity and liabilities | 10/49 | €9,081,430 | €9,468,174 | +€386,744 | +4.3% |
| Equity | 10/15 | €7,601,657 | €7,285,543 | -€316,114 | -4.2% |
| Contributions | 10/11 | €6,621,476 | €6,621,476 | = | 0.0% |
| Reserves | 13 | €124,000 | €124,000 | = | 0.0% |
| Distributable reserves | 133 | €124,000 | €124,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €856,181 | €540,067 | -€316,114 | -36.9% |
| Provisions and deferred taxes | 16 | - | €144,107 | +€144,107 | |
| Provisions for liabilities and charges | 160/5 | - | €144,107 | +€144,107 | |
| Major repairs and maintenance | 162 | - | €144,107 | +€144,107 | |
| Amounts payable | 17/49 | €1,479,772 | €2,038,524 | +€558,751 | +37.8% |
| Amounts payable after more than one year | 17 | €135,604 | €469,773 | +€334,169 | +246.4% |
| Financial debts | 170/4 | €135,604 | €469,773 | +€334,169 | +246.4% |
| Amounts payable within one year | 42/48 | €1,344,168 | €1,568,751 | +€224,583 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €15,314 | €15,831 | +€517 | +3.4% |
| Other amounts payable | 47/48 | €1,328,854 | €1,552,919 | +€224,066 | +16.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €194,697 | €227,607 | +€32,910 | +16.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €144,107 | +€144,107 | |
| Other operating charges | 640/8 | €22,140 | €22,611 | +€471 | +2.1% |
| Gross operating margin | 9900 | €95,203 | €87,064 | -€8,139 | -8.5% |
| Operating profit (loss) | 9901 | -€121,633 | -€307,260 | -€185,627 | -152.6% |
| Financial income | 75/76B | - | €2,424 | +€2,424 | |
| Recurring financial income | 75 | - | €2,424 | +€2,424 | |
| Financial charges | 65/66B | €5,815 | €11,278 | +€5,463 | +94.0% |
| Recurring financial charges | 65 | €5,815 | €11,278 | +€5,463 | +94.0% |
| Profit (loss) for the period before taxes | 9903 | -€127,448 | -€316,114 | -€188,666 | -148.0% |
| Profit (loss) for the period | 9904 | -€127,448 | -€316,114 | -€188,666 | -148.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€127,448 | -€316,114 | -€188,666 | -148.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.