Normec OWS: 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
Normec OWS
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€1.2m
2024 · -€537,916-€625,040
Equity
€13.2m
2024 · €13.3m-€48,910
Cash
€325,666
2024 · €1.8m-€1.5m
Balance sheet total
€26.0m
2024 · €27.3m-€1.3m
Largest movements
Assets
- Financial fixed assets +€2.0m
up €2.0m (+197.5%), from €1.0m to €3.0m
of which Affiliated companies: +€2.0m
- Cash -€1.5m
down €1.5m (-81.9%), from €1.8m to €325,666
mainly Investment in fixed assets (net) (-€3.1m) and Net result for the year (-€1.2m)
- Stocks and contracts -€1.1m
down €1.1m (-25.6%), from €4.1m to €3.1m
- Tangible fixed assets -€640,976
down €640,976 (-5.5%), from €11.7m to €11.0m
Equity and liabilities
- Profit (loss) carried forward -€1.2m
down €1.2m (-10.8%), from €10.8m to €9.6m
- Investment grants +€1.1m
up €1.1m (+96.0%), from €1.2m to €2.3m
- Advances received -€915,749
down €915,749 (-20.7%), from €4.4m to €3.5m
- Provisions +€370,700
up €370,700 (+95.7%), from €387,398 to €758,098
- Tax, wage and social debts -€343,112
down €343,112 (-33.1%), from €1.0m to €692,986
of which Taxes: -€233,699
Income statement
- Turnover -€2.9m
down €2.9m (-24.6%), from €11.6m to €8.8m
- Staff costs -€634,498
down €634,498 (-9.7%), from €6.6m to €5.9m
- Services and other goods -€276,502
down €276,502 (-9.4%), from €2.9m to €2.7m
- Goods and materials -€211,293
down €211,293 (-55.8%), from €378,420 to €167,127
- Other operating income +€179,075
up €179,075 (+43.0%), from €416,827 to €595,902
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
-€537,916
Turnover
-€2.9m
Other operating income
+€179,075
Goods and materials
+€211,293
Services and other goods
+€276,502
Staff costs
+€634,498
Depreciation
+€32,296
Write-downs
+€18,236
Other operating charges
-€28,087
Other operating items
+€972,178
Financial income
-€40,009
Financial charges
+€24,847
Taxes
-€44,475
Deferred taxes and other
-€4,629
Result 2025
-€1.2m
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
+€799,001
Investment
-€3.1m
Financing
+€843,456
Cash 2024
€1.8m
From operations (derived)
+€799,001
Net result for the year
-€1.2m
Depreciation
+€1.7m
Receivables after one year
-€99,312
Stocks and contracts
+€1.1m
Receivables within one year
+€250,755
Deferred charges and accrued income
+€42,597
Provisions
+€370,700
Trade debts
-€244,900
Tax, wage and social debts
-€343,112
Advances received
-€915,749
Other debts
+€132,991
Accrued charges and deferred income
-€881
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€3.1m
Financing
+€843,456
Debts after one year
-€281,598
Current portion of long-term debt
+€11,008
Contributions, distributions and other
+€1.1m
Cash 2025
€325,666
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,291,430 | €25,970,979 | -€1.3m | -4.8% |
| Fixed assets | 21/28 | €14,037,992 | €15,446,155 | +€1.4m | +10.0% |
| Intangible fixed assets | 21 | €1,372,723 | €1,423,624 | +€50,901 | +3.7% |
| Tangible fixed assets | 22/27 | €11,653,540 | €11,012,563 | -€640,976 | -5.5% |
| Plant, machinery and equipment | 23 | €582,789 | €379,679 | -€203,110 | -34.9% |
| Furniture and vehicles | 24 | €268,918 | €219,209 | -€49,709 | -18.5% |
| Leasing and similar rights | 25 | €6,201,387 | €5,971,894 | -€229,493 | -3.7% |
| Other tangible fixed assets | 26 | €4,600,446 | €4,441,781 | -€158,665 | -3.4% |
| Financial fixed assets | 28 | €1,011,729 | €3,009,967 | +€2.0m | +197.5% |
| Affiliated companies | 280/1 | €945,001 | €2,945,061 | +€2.0m | +211.6% |
| Participating interests | 280 | €945,001 | €2,945,061 | +€2.0m | +211.6% |
| Other financial fixed assets | 284/8 | €66,728 | €64,906 | -€1,822 | -2.7% |
| Amounts receivable and cash guarantees | 285/8 | €66,728 | €64,906 | -€1,822 | -2.7% |
| Current assets | 29/58 | €13,253,438 | €10,524,824 | -€2.7m | -20.6% |
| Amounts receivable after more than one year | 29 | €3,728,943 | €3,828,255 | +€99,312 | +2.7% |
| Other amounts receivable | 291 | €3,728,943 | €3,828,255 | +€99,312 | +2.7% |
| Stocks and contracts in progress | 3 | €4,127,995 | €3,069,866 | -€1.1m | -25.6% |
| Contracts in progress | 37 | €4,127,995 | €3,069,866 | -€1.1m | -25.6% |
| Amounts receivable within one year | 40/41 | €3,492,138 | €3,241,383 | -€250,755 | -7.2% |
| Trade receivables | 40 | €1,891,339 | €1,790,328 | -€101,011 | -5.3% |
| Other amounts receivable | 41 | €1,600,799 | €1,451,055 | -€149,744 | -9.4% |
| Current investments | 50/53 | €62 | €62 | = | 0.0% |
| Other investments | 51/53 | €62 | €62 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,802,110 | €325,666 | -€1.5m | -81.9% |
| Deferred charges and accrued income | 490/1 | €102,190 | €59,593 | -€42,597 | -41.7% |
| Total equity and liabilities | 10/49 | €27,291,430 | €25,970,979 | -€1.3m | -4.8% |
| Equity | 10/15 | €13,294,961 | €13,246,051 | -€48,910 | -0.4% |
| Contributions | 10/11 | €1,240,000 | €1,240,000 | = | 0.0% |
| Capital | 10 | €1,240,000 | €1,240,000 | = | 0.0% |
| Issued capital | 100 | €1,240,000 | €1,240,000 | = | 0.0% |
| Reserves | 13 | €124,000 | €124,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €124,000 | €124,000 | = | 0.0% |
| Legal reserve | 130 | €124,000 | €124,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,770,889 | €9,607,933 | -€1.2m | -10.8% |
| Investment grants | 15 | €1,160,072 | €2,274,118 | +€1.1m | +96.0% |
| Provisions and deferred taxes | 16 | €387,398 | €758,098 | +€370,700 | +95.7% |
| Deferred taxes | 168 | €387,398 | €758,098 | +€370,700 | +95.7% |
| Amounts payable | 17/49 | €13,609,070 | €11,966,829 | -€1.6m | -12.1% |
| Amounts payable after more than one year | 17 | €5,793,955 | €5,512,358 | -€281,598 | -4.9% |
| Financial debts | 170/4 | €5,793,955 | €5,512,358 | -€281,598 | -4.9% |
| Leasing and similar obligations | 172 | €5,793,955 | €5,512,358 | -€281,598 | -4.9% |
| Amounts payable within one year | 42/48 | €7,814,234 | €6,454,472 | -€1.4m | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €407,652 | €418,660 | +€11,008 | +2.7% |
| Trade debts | 44 | €1,283,608 | €1,038,708 | -€244,900 | -19.1% |
| Suppliers | 440/4 | €1,283,608 | €1,038,708 | -€244,900 | -19.1% |
| Advances received on contracts in progress | 46 | €4,429,406 | €3,513,657 | -€915,749 | -20.7% |
| Taxes, remuneration and social security | 45 | €1,036,098 | €692,986 | -€343,112 | -33.1% |
| Taxes | 450/3 | €349,225 | €115,526 | -€233,699 | -66.9% |
| Remuneration and social security | 454/9 | €686,873 | €577,461 | -€109,412 | -15.9% |
| Other amounts payable | 47/48 | €657,469 | €790,460 | +€132,991 | +20.2% |
| Accrued charges and deferred income | 492/3 | €881 | - | -€881 | |
| Operating income | 70/76A | €10,644,232 | €8,938,759 | -€1.7m | -16.0% |
| Turnover | 70 | €11,636,138 | €8,779,373 | -€2.9m | -24.6% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€2,093,912 | -€1,058,130 | +€1.0m | +49.5% |
| Own construction capitalised | 72 | €663,865 | €611,613 | -€52,252 | -7.9% |
| Other operating income | 74 | €416,827 | €595,902 | +€179,075 | +43.0% |
| Non-recurring operating income | 76A | €21,313 | €10,000 | -€11,313 | -53.1% |
| Operating charges | 60/66A | €11,670,977 | €10,526,278 | -€1.1m | -9.8% |
| Goods for resale, raw materials and consumables | 60 | €378,420 | €167,127 | -€211,293 | -55.8% |
| Purchases | 600/8 | €378,420 | €167,127 | -€211,293 | -55.8% |
| Services and other goods | 61 | €2,938,053 | €2,661,551 | -€276,502 | -9.4% |
| Remuneration, social security and pensions | 62 | €6,554,469 | €5,919,972 | -€634,498 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,743,034 | €1,710,738 | -€32,296 | -1.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,582 | -€15,654 | -€18,236 | |
| Other operating charges | 640/8 | €54,419 | €82,506 | +€28,087 | +51.6% |
| Non-recurring operating charges | 66A | - | €39 | +€39 | |
| Operating profit (loss) | 9901 | -€1,026,745 | -€1,587,519 | -€560,775 | -54.6% |
| Financial income | 75/76B | €563,197 | €523,188 | -€40,009 | -7.1% |
| Recurring financial income | 75 | €563,197 | €523,188 | -€40,009 | -7.1% |
| Income from current assets | 751 | €179,928 | €136,271 | -€43,657 | -24.3% |
| Other financial income | 752/9 | €383,269 | €386,917 | +€3,648 | +1.0% |
| Financial charges | 65/66B | €231,744 | €206,896 | -€24,847 | -10.7% |
| Recurring financial charges | 65 | €80,222 | €206,896 | +€126,675 | +157.9% |
| Debt charges | 650 | €45,855 | €63,475 | +€17,620 | +38.4% |
| Other financial charges | 652/9 | €34,366 | €143,421 | +€109,055 | +317.3% |
| Non-recurring financial charges | 66B | €151,522 | - | -€151,522 | |
| Profit (loss) for the period before taxes | 9903 | -€695,292 | -€1,271,228 | -€575,936 | -82.8% |
| Transfer from deferred taxes | 780 | €112,882 | €108,254 | -€4,629 | -4.1% |
| Income taxes | 67/77 | -€44,493 | -€18 | +€44,475 | +100.0% |
| Taxes | 670/3 | €52,663 | €3,500 | -€49,163 | -93.4% |
| Tax adjustments and reversals of tax provisions | 77 | €97,156 | €3,518 | -€93,638 | -96.4% |
| Profit (loss) for the period | 9904 | -€537,916 | -€1,162,956 | -€625,040 | -116.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€537,916 | -€1,162,956 | -€625,040 | -116.2% |
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 10 October 2026 via checked.be.