NOROQ: what changed
NOROQ
Largest movements
- Cash -€4,661
down €4,661 (-59.3%), from €7,858 to €3,198
mainly Net result for the year (-€7,011) and Trade debts (-€407)
- Tangible fixed assets -€1,505
down €1,505 (-9.6%), from €15,749 to €14,244
of which Other tangible fixed assets: -€1,105
- Profit (loss) carried forward -€4,883
down €4,883, from €0 to -€4,883
- Reserves -€2,128
down €2,128 (-11.8%), from €17,990 to €15,862
- Other debts +€1,053
up €1,053 (+103%), from €1,020 to €2,073
- Trade debts -€407
down €407 (-62.5%), from €652 to €245
- Other operating charges -€284
down €284 (-30.6%), from €928 to €644
- Depreciation +€217
up €217 (+16.8%), from €1,288 to €1,505
- Gross operating margin +€158
up €158 (+3.2%), from -€4,915 to -€4,757
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,862 | €17,496 | -€6,366 | -26.7% |
| Fixed assets | 21/28 | €15,749 | €14,244 | -€1,505 | -9.6% |
| Tangible fixed assets | 22/27 | €15,749 | €14,244 | -€1,505 | -9.6% |
| Furniture and vehicles | 24 | €1,015 | €616 | -€399 | -39.3% |
| Other tangible fixed assets | 26 | €14,733 | €13,628 | -€1,105 | -7.5% |
| Current assets | 29/58 | €8,114 | €3,252 | -€4,861 | -59.9% |
| Amounts receivable within one year | 40/41 | €255 | €54 | -€201 | -78.7% |
| Other amounts receivable | 41 | €255 | €54 | -€201 | -78.7% |
| Cash at bank and in hand | 54/58 | €7,858 | €3,198 | -€4,661 | -59.3% |
| Total equity and liabilities | 10/49 | €23,862 | €17,496 | -€6,366 | -26.7% |
| Equity | 10/15 | €22,190 | €15,179 | -€7,011 | -31.6% |
| Contributions | 10/11 | €4,200 | €4,200 | = | 0.0% |
| Reserves | 13 | €17,990 | €15,862 | -€2,128 | -11.8% |
| Distributable reserves | 133 | €17,990 | €15,862 | -€2,128 | -11.8% |
| Profit (loss) carried forward | 14 | €0 | -€4,883 | -€4,883 | |
| Amounts payable | 17/49 | €1,672 | €2,317 | +€645 | +38.6% |
| Amounts payable within one year | 42/48 | €1,672 | €2,317 | +€645 | +38.6% |
| Trade debts | 44 | €652 | €245 | -€407 | -62.5% |
| Suppliers | 440/4 | €652 | €245 | -€407 | -62.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,020 | €2,073 | +€1,053 | +103% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,288 | €1,505 | +€217 | +16.8% |
| Other operating charges | 640/8 | €928 | €644 | -€284 | -30.6% |
| Gross operating margin | 9900 | -€4,915 | -€4,757 | +€158 | +3.2% |
| Operating profit (loss) | 9901 | -€7,131 | -€6,906 | +€225 | +3.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €58 | €106 | +€48 | +81.9% |
| Recurring financial charges | 65 | €58 | €106 | +€48 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | -€7,189 | -€7,011 | +€178 | +2.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€7,189 | -€7,011 | +€178 | +2.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,189 | -€7,011 | +€178 | +2.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.