Normec BTV: 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.
What changed
Normec BTV
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.5m
2024 · €1.6m-€30,433
Equity
€6.0m
2024 · €4.5m+€1.5m
Cash
€408,801
2024 · €322,108+€86,694
Balance sheet total
€15.0m
2024 · €12.1m+€2.9m
Largest movements
Assets
- Receivables within one year +€3.2m
up €3.2m (+33.0%), from €9.6m to €12.7m
of which Trade receivables: +€3.2m
- Intangible fixed assets -€324,627
down €324,627 (-37.4%), from €869,040 to €544,412
Equity and liabilities
- Reserves +€1.5m
up €1.5m (+34.5%), from €4.5m to €6.0m
- Trade debts +€877,072
up €877,072 (+67.1%), from €1.3m to €2.2m
- Tax, wage and social debts +€503,085
up €503,085 (+8.2%), from €6.1m to €6.6m
of which Taxes: +€595,248
Income statement
- Turnover -€2.7m
down €2.7m (-5.3%), from €51.0m to €48.3m
- Staff costs -€1.8m
down €1.8m (-6.5%), from €27.3m to €25.6m
- Services and other goods -€1.2m
down €1.2m (-5.4%), from €21.5m to €20.3m
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
€1.6m
Turnover
-€2.7m
Other operating income
-€389,210
Goods and materials
-€10,919
Services and other goods
+€1.2m
Staff costs
+€1.8m
Depreciation
+€3,640
Other operating charges
+€63,855
Other operating items
-€12,500
Financial income
-€166
Financial charges
+€13,579
Taxes
+€85,354
Result 2025
€1.5m
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
+€510,294
Investment
-€360,169
Financing
-€63,431
Cash 2024
€322,108
From operations (derived)
+€510,294
Net result for the year
+€1.5m
Depreciation
+€697,799
Receivables within one year
-€3.2m
Deferred charges and accrued income
+€26,554
Provisions
+€12,500
Trade debts
+€877,072
Tax, wage and social debts
+€503,085
Accrued charges and deferred income
+€114
Investment (derived)
-€360,169
Investment in fixed assets (net)
-€360,169
Financing
-€63,431
Debts after one year
-€53,502
Current portion of long-term debt
-€9,929
Cash 2025
€408,801
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,143,462 | €15,022,065 | +€2.9m | +23.7% |
| Fixed assets | 21/28 | €2,005,773 | €1,668,144 | -€337,629 | -16.8% |
| Intangible fixed assets | 21 | €869,040 | €544,412 | -€324,627 | -37.4% |
| Tangible fixed assets | 22/27 | €1,095,096 | €1,082,094 | -€13,002 | -1.2% |
| Plant, machinery and equipment | 23 | €118,815 | €114,762 | -€4,053 | -3.4% |
| Furniture and vehicles | 24 | €648,243 | €665,500 | +€17,257 | +2.7% |
| Other tangible fixed assets | 26 | €328,038 | €301,832 | -€26,206 | -8.0% |
| Financial fixed assets | 28 | €41,638 | €41,638 | = | 0.0% |
| Other financial fixed assets | 284/8 | €41,638 | €41,638 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €41,638 | €41,638 | = | 0.0% |
| Current assets | 29/58 | €10,137,688 | €13,353,921 | +€3.2m | +31.7% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €9,570,979 | €12,727,072 | +€3.2m | +33.0% |
| Trade receivables | 40 | €9,535,292 | €12,727,072 | +€3.2m | +33.5% |
| Other amounts receivable | 41 | €35,687 | €0 | -€35,687 | -100.0% |
| Cash at bank and in hand | 54/58 | €322,108 | €408,801 | +€86,694 | +26.9% |
| Deferred charges and accrued income | 490/1 | €244,601 | €218,047 | -€26,554 | -10.9% |
| Total equity and liabilities | 10/49 | €12,143,462 | €15,022,065 | +€2.9m | +23.7% |
| Equity | 10/15 | €4,493,320 | €6,042,583 | +€1.5m | +34.5% |
| Reserves | 13 | €4,493,320 | €6,042,583 | +€1.5m | +34.5% |
| Provisions and deferred taxes | 16 | - | €12,500 | +€12,500 | |
| Provisions for liabilities and charges | 160/5 | - | €12,500 | +€12,500 | |
| Other liabilities and charges | 164/5 | - | €12,500 | +€12,500 | |
| Amounts payable | 17/49 | €7,650,141 | €8,966,982 | +€1.3m | +17.2% |
| Amounts payable after more than one year | 17 | €144,536 | €91,034 | -€53,502 | -37.0% |
| Financial debts | 170/4 | €144,536 | €91,034 | -€53,502 | -37.0% |
| Credit institutions | 173 | €144,536 | €91,034 | -€53,502 | -37.0% |
| Amounts payable within one year | 42/48 | €7,500,381 | €8,870,610 | +€1.4m | +18.3% |
| Current portion of amounts payable after more than one year | 42 | €63,431 | €53,502 | -€9,929 | -15.7% |
| Trade debts | 44 | €1,307,058 | €2,184,130 | +€877,072 | +67.1% |
| Suppliers | 440/4 | €1,307,058 | €2,184,130 | +€877,072 | +67.1% |
| Taxes, remuneration and social security | 45 | €6,129,892 | €6,632,978 | +€503,085 | +8.2% |
| Taxes | 450/3 | €2,160,788 | €2,756,036 | +€595,248 | +27.5% |
| Remuneration and social security | 454/9 | €3,969,104 | €3,876,941 | -€92,163 | -2.3% |
| Accrued charges and deferred income | 492/3 | €5,224 | €5,338 | +€114 | +2.2% |
| Operating income | 70/76A | €52,440,272 | €49,326,745 | -€3.1m | -5.9% |
| Turnover | 70 | €51,030,874 | €48,306,558 | -€2.7m | -5.3% |
| Other operating income | 74 | €1,409,398 | €1,020,188 | -€389,210 | -27.6% |
| Operating charges | 60/66A | €49,650,362 | €46,666,036 | -€3.0m | -6.0% |
| Goods for resale, raw materials and consumables | 60 | €47,882 | €58,802 | +€10,919 | +22.8% |
| Purchases | 600/8 | €38,447 | €40,311 | +€1,864 | +4.8% |
| Change in stocks: decrease (increase) | 609 | €9,435 | €18,490 | +€9,056 | +96.0% |
| Services and other goods | 61 | €21,495,982 | €20,335,482 | -€1.2m | -5.4% |
| Remuneration, social security and pensions | 62 | €27,330,779 | €25,551,027 | -€1.8m | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €701,438 | €697,799 | -€3,640 | -0.5% |
| Other operating charges | 640/8 | €74,281 | €10,426 | -€63,855 | -86.0% |
| Operating profit (loss) | 9901 | €2,789,910 | €2,660,710 | -€129,200 | -4.6% |
| Financial income | 75/76B | €212 | €46 | -€166 | -78.4% |
| Recurring financial income | 75 | €212 | €46 | -€166 | -78.4% |
| Other financial income | 752/9 | €212 | €46 | -€166 | -78.4% |
| Financial charges | 65/66B | €66,835 | €53,256 | -€13,579 | -20.3% |
| Recurring financial charges | 65 | €66,835 | €53,256 | -€13,579 | -20.3% |
| Debt charges | 650 | €5,449 | €4,411 | -€1,038 | -19.1% |
| Other financial charges | 652/9 | €61,386 | €48,845 | -€12,541 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €2,723,287 | €2,607,500 | -€115,787 | -4.3% |
| Income taxes | 67/77 | €1,143,591 | €1,058,237 | -€85,354 | -7.5% |
| Taxes | 670/3 | €1,143,591 | €1,058,237 | -€85,354 | -7.5% |
| Profit (loss) for the period | 9904 | €1,579,696 | €1,549,263 | -€30,433 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,579,696 | €1,549,263 | -€30,433 | -1.9% |
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 30 September 2026 via checked.be.