NOROC-LABOR: 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.
NOROC-LABOR
Largest movements
- Tangible fixed assets +€26,206
up €26,206 (+102%), from €25,737 to €51,943
of which Leasing and similar rights: +€35,707
- Receivables within one year -€3,400
down €3,400 (-1.9%), from €183,737 to €180,337
of which Trade receivables: -€8,035
- Debts after one year +€24,596
up €24,596 (+165%), from €14,873 to €39,469
- Other debts +€18,500
new in 2025: €18,500
- Reserves -€13,500
down €13,500 (-11.0%), from €122,710 to €109,210
- Trade debts -€9,610
down €9,610 (-14.6%), from €65,638 to €56,027
- Current portion of long-term debt +€4,785
up €4,785 (+26.8%), from €17,855 to €22,640
- Gross operating margin +€11,262
up €11,262 (+75.6%), from €14,891 to €26,153
- Depreciation -€3,547
down €3,547 (-18.4%), from €19,301 to €15,755
- Financial charges +€3,011
up €3,011 (+242%), from €1,246 to €4,258
- Taxes +€500
new in 2025: €500
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.
Derived cash bridge
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 | €250,159 | €275,704 | +€25,545 | +10.2% |
| Fixed assets | 21/28 | €25,737 | €51,943 | +€26,206 | +102% |
| Tangible fixed assets | 22/27 | €25,737 | €51,943 | +€26,206 | +102% |
| Plant, machinery and equipment | 23 | €12,453 | €9,882 | -€2,571 | -20.6% |
| Furniture and vehicles | 24 | €13,283 | €6,354 | -€6,930 | -52.2% |
| Leasing and similar rights | 25 | - | €35,707 | +€35,707 | |
| Current assets | 29/58 | €224,422 | €223,761 | -€661 | -0.3% |
| Stocks and contracts in progress | 3 | €14,157 | €12,965 | -€1,192 | -8.4% |
| Stocks | 30/36 | €14,157 | €12,965 | -€1,192 | -8.4% |
| Amounts receivable within one year | 40/41 | €183,737 | €180,337 | -€3,400 | -1.9% |
| Trade receivables | 40 | €160,146 | €152,111 | -€8,035 | -5.0% |
| Other amounts receivable | 41 | €23,591 | €28,227 | +€4,636 | +19.7% |
| Cash at bank and in hand | 54/58 | €25,304 | €26,715 | +€1,411 | +5.6% |
| Deferred charges and accrued income | 490/1 | €1,224 | €3,744 | +€2,520 | +206% |
| Total equity and liabilities | 10/49 | €250,159 | €275,704 | +€25,545 | +10.2% |
| Equity | 10/15 | €144,902 | €131,413 | -€13,489 | -9.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €122,710 | €109,210 | -€13,500 | -11.0% |
| Distributable reserves | 133 | €122,710 | €109,210 | -€13,500 | -11.0% |
| Profit (loss) carried forward | 14 | €3,592 | €3,603 | +€11 | +0.3% |
| Amounts payable | 17/49 | €105,257 | €144,291 | +€39,034 | +37.1% |
| Amounts payable after more than one year | 17 | €14,873 | €39,469 | +€24,596 | +165% |
| Financial debts | 170/4 | €14,873 | €39,469 | +€24,596 | +165% |
| Amounts payable within one year | 42/48 | €90,384 | €104,822 | +€14,438 | +16.0% |
| Current portion of amounts payable after more than one year | 42 | €17,855 | €22,640 | +€4,785 | +26.8% |
| Financial debts | 43 | €1,029 | €1,044 | +€15 | +1.4% |
| Credit institutions | 430/8 | €1,029 | €1,044 | +€15 | +1.4% |
| Trade debts | 44 | €65,638 | €56,027 | -€9,610 | -14.6% |
| Suppliers | 440/4 | €65,638 | €56,027 | -€9,610 | -14.6% |
| Advances received on contracts in progress | 46 | - | €3,000 | +€3,000 | |
| Taxes, remuneration and social security | 45 | €5,862 | €3,611 | -€2,251 | -38.4% |
| Taxes | 450/3 | €3,862 | €3,611 | -€251 | -6.5% |
| Remuneration and social security | 454/9 | €2,000 | - | -€2,000 | |
| Other amounts payable | 47/48 | - | €18,500 | +€18,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,301 | €15,755 | -€3,547 | -18.4% |
| Other operating charges | 640/8 | €919 | €871 | -€48 | -5.2% |
| Non-recurring operating charges | 66A | - | €96 | +€96 | |
| Gross operating margin | 9900 | €14,891 | €26,153 | +€11,262 | +75.6% |
| Operating profit (loss) | 9901 | -€5,329 | €9,432 | +€14,761 | |
| Financial income | 75/76B | €503 | €336 | -€167 | -33.2% |
| Recurring financial income | 75 | €131 | €6 | -€126 | -95.8% |
| Non-recurring financial income | 76B | €372 | €331 | -€41 | -11.1% |
| Financial charges | 65/66B | €1,246 | €4,258 | +€3,011 | +242% |
| Recurring financial charges | 65 | €1,246 | €4,258 | +€3,011 | +242% |
| Profit (loss) for the period before taxes | 9903 | -€6,072 | €5,511 | +€11,583 | |
| Income taxes | 67/77 | - | €500 | +€500 | |
| Profit (loss) for the period | 9904 | -€6,072 | €5,011 | +€11,083 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,072 | €5,011 | +€11,083 |
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 19 October 2026 via checked.be.