NORMELEC SECURITY: 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.
NORMELEC SECURITY
Largest movements
- Cash -€32,206
down €32,206 (-39.2%), from €82,176 to €49,969
mainly Other debts (-€106,713) and Investment in fixed assets (net) (-€4,500)
- Receivables within one year -€14,302
down €14,302 (-20.8%), from €68,783 to €54,481
of which Trade receivables: -€9,150
- Intangible fixed assets +€4,389
new in 2025: €4,389
- Stocks and contracts -€3,763
down €3,763 (-19.9%), from €18,956 to €15,193
- Other debts -€106,713
down €106,713 (-90.0%), from €118,568 to €11,855
- Profit (loss) carried forward +€49,842
new in 2025: €49,842
- Trade debts +€5,624
up €5,624 (+51.9%), from €10,831 to €16,455
- Tax, wage and social debts +€3,522
up €3,522 (+17.9%), from €19,693 to €23,215
of which Taxes: +€11,067
- Taxes +€17,182
up €17,182 (+1469.2%), from €1,169 to €18,351
- Staff costs +€3,770
up €3,770 (+4.9%), from €77,110 to €80,880
- Write-downs +€3,188
up €3,188, from -€576 to €2,613
- Depreciation -€2,157
down €2,157 (-57.8%), from €3,734 to €1,577
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 | €176,593 | €128,868 | -€47,725 | -27.0% |
| Fixed assets | 21/28 | €4,037 | €6,960 | +€2,923 | +72.4% |
| Intangible fixed assets | 21 | - | €4,389 | +€4,389 | |
| Tangible fixed assets | 22/27 | €3,837 | €2,371 | -€1,466 | -38.2% |
| Plant, machinery and equipment | 23 | €1,013 | €807 | -€206 | -20.4% |
| Furniture and vehicles | 24 | €2,824 | €1,565 | -€1,259 | -44.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €172,556 | €121,907 | -€50,649 | -29.4% |
| Stocks and contracts in progress | 3 | €18,956 | €15,193 | -€3,763 | -19.9% |
| Stocks | 30/36 | €18,956 | €15,193 | -€3,763 | -19.9% |
| Amounts receivable within one year | 40/41 | €68,783 | €54,481 | -€14,302 | -20.8% |
| Trade receivables | 40 | €55,718 | €46,568 | -€9,150 | -16.4% |
| Other amounts receivable | 41 | €13,065 | €7,913 | -€5,152 | -39.4% |
| Cash at bank and in hand | 54/58 | €82,176 | €49,969 | -€32,206 | -39.2% |
| Deferred charges and accrued income | 490/1 | €2,641 | €2,264 | -€378 | -14.3% |
| Total equity and liabilities | 10/49 | €176,593 | €128,868 | -€47,725 | -27.0% |
| Equity | 10/15 | €27,500 | €77,342 | +€49,842 | +181.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €49,842 | +€49,842 | |
| Amounts payable | 17/49 | €149,093 | €51,525 | -€97,567 | -65.4% |
| Amounts payable within one year | 42/48 | €149,093 | €51,525 | -€97,567 | -65.4% |
| Trade debts | 44 | €10,831 | €16,455 | +€5,624 | +51.9% |
| Suppliers | 440/4 | €10,831 | €16,455 | +€5,624 | +51.9% |
| Taxes, remuneration and social security | 45 | €19,693 | €23,215 | +€3,522 | +17.9% |
| Taxes | 450/3 | €2,284 | €13,351 | +€11,067 | +484.6% |
| Remuneration and social security | 454/9 | €17,410 | €9,864 | -€7,546 | -43.3% |
| Other amounts payable | 47/48 | €118,568 | €11,855 | -€106,713 | -90.0% |
| Remuneration, social security and pensions | 62 | €77,110 | €80,880 | +€3,770 | +4.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,734 | €1,577 | -€2,157 | -57.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€576 | €2,613 | +€3,188 | |
| Other operating charges | 640/8 | €1,695 | €1,830 | +€135 | +7.9% |
| Gross operating margin | 9900 | €154,868 | €155,295 | +€427 | +0.3% |
| Operating profit (loss) | 9901 | €72,904 | €68,396 | -€4,509 | -6.2% |
| Financial income | 75/76B | €429 | €613 | +€184 | +42.8% |
| Recurring financial income | 75 | €429 | €613 | +€184 | +42.8% |
| Financial charges | 65/66B | €1,234 | €815 | -€418 | -33.9% |
| Recurring financial charges | 65 | €1,234 | €815 | -€418 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €72,100 | €68,193 | -€3,907 | -5.4% |
| Income taxes | 67/77 | €1,169 | €18,351 | +€17,182 | +1469.2% |
| Profit (loss) for the period | 9904 | €70,930 | €49,842 | -€21,088 | -29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €70,930 | €49,842 | -€21,088 | -29.7% |
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 7 October 2026 via checked.be.