NORRE DAVID: 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.
NORRE DAVID
Largest movements
- Current investments -€994,331
down €994,331 (-90.9%), from €1.1m to €99,606
- Tangible fixed assets -€893,508
down €893,508 (-58.6%), from €1.5m to €631,067
of which Land and buildings: -€893,306
- Cash +€817,588
up €817,588 (+1,084%), from €75,391 to €892,979
mainly Current investments (+€994,331) and Investment in fixed assets (net) (+€862,003)
- Receivables within one year +€726,597
up €726,597 (+941%), from €77,179 to €803,776
of which Trade receivables: +€717,750
- Deferred charges and accrued income -€107,147
no longer reported in 2024 (was €107,147)
- Other debts -€727,185
down €727,185 (-96.8%), from €751,484 to €24,300
- Reserves +€513,832
up €513,832 (+46.9%), from €1.1m to €1.6m
of which Distributable reserves: +€373,697
- Debts after one year -€175,257
down €175,257 (-20.0%), from €876,640 to €701,383
- Trade debts -€81,878
down €81,878 (-91.5%), from €89,455 to €7,576
- Current portion of long-term debt -€68,555
down €68,555 (-28.7%), from €238,799 to €170,244
- Gross operating margin +€390,375
up €390,375 (+106%), from €368,062 to €758,438
- Depreciation -€179,175
down €179,175 (-85.0%), from €210,680 to €31,505
- Taxes +€147,535
up €147,535 (+673%), from €21,926 to €169,461
- Financial charges +€11,035
up €11,035 (+132%), from €8,344 to €19,379
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,108,229 | €2,657,428 | -€450,801 | -14.5% |
| Fixed assets | 21/28 | €1,544,575 | €651,067 | -€893,508 | -57.8% |
| Tangible fixed assets | 22/27 | €1,524,575 | €631,067 | -€893,508 | -58.6% |
| Land and buildings | 22 | €1,524,232 | €630,926 | -€893,306 | -58.6% |
| Furniture and vehicles | 24 | €343 | €141 | -€202 | -59.0% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €1,563,654 | €2,006,361 | +€442,707 | +28.3% |
| Amounts receivable after more than one year | 29 | €210,000 | €210,000 | = | 0.0% |
| Other amounts receivable | 291 | €210,000 | €210,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €77,179 | €803,776 | +€726,597 | +941% |
| Trade receivables | 40 | - | €717,750 | +€717,750 | |
| Other amounts receivable | 41 | €77,179 | €86,026 | +€8,847 | +11.5% |
| Current investments | 50/53 | €1,093,936 | €99,606 | -€994,331 | -90.9% |
| Cash at bank and in hand | 54/58 | €75,391 | €892,979 | +€817,588 | +1,084% |
| Deferred charges and accrued income | 490/1 | €107,147 | - | -€107,147 | |
| Total equity and liabilities | 10/49 | €3,108,229 | €2,657,428 | -€450,801 | -14.5% |
| Equity | 10/15 | €1,098,117 | €1,611,949 | +€513,832 | +46.8% |
| Contributions | 10/11 | €2,832 | €2,832 | = | 0.0% |
| Reserves | 13 | €1,095,285 | €1,609,117 | +€513,832 | +46.9% |
| Non-distributable reserves | 130/1 | €850 | €850 | = | 0.0% |
| Reserves not available under the articles | 1311 | €850 | €850 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €140,135 | +€140,135 | |
| Distributable reserves | 133 | €1,094,435 | €1,468,132 | +€373,697 | +34.1% |
| Provisions and deferred taxes | 16 | - | €46,712 | +€46,712 | |
| Deferred taxes | 168 | - | €46,712 | +€46,712 | |
| Amounts payable | 17/49 | €2,010,111 | €998,767 | -€1.0m | -50.3% |
| Amounts payable after more than one year | 17 | €876,640 | €701,383 | -€175,257 | -20.0% |
| Financial debts | 170/4 | €876,640 | €701,383 | -€175,257 | -20.0% |
| Amounts payable within one year | 42/48 | €1,133,472 | €295,734 | -€837,737 | -73.9% |
| Current portion of amounts payable after more than one year | 42 | €238,799 | €170,244 | -€68,555 | -28.7% |
| Financial debts | 43 | €297 | - | -€297 | |
| Credit institutions | 430/8 | €297 | - | -€297 | |
| Trade debts | 44 | €89,455 | €7,576 | -€81,878 | -91.5% |
| Suppliers | 440/4 | €89,455 | €7,576 | -€81,878 | -91.5% |
| Taxes, remuneration and social security | 45 | €53,437 | €93,615 | +€40,178 | +75.2% |
| Taxes | 450/3 | €53,437 | €93,615 | +€40,178 | +75.2% |
| Other amounts payable | 47/48 | €751,484 | €24,300 | -€727,185 | -96.8% |
| Accrued charges and deferred income | 492/3 | - | €1,650 | +€1,650 | |
| Remuneration, social security and pensions | 62 | €904 | - | -€904 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,680 | €31,505 | -€179,175 | -85.0% |
| Other operating charges | 640/8 | €10,794 | €6,605 | -€4,189 | -38.8% |
| Gross operating margin | 9900 | €368,062 | €758,438 | +€390,375 | +106% |
| Operating profit (loss) | 9901 | €145,685 | €720,328 | +€574,643 | +394% |
| Financial income | 75/76B | €22,773 | €29,056 | +€6,283 | +27.6% |
| Recurring financial income | 75 | €22,773 | €29,056 | +€6,283 | +27.6% |
| Financial charges | 65/66B | €8,344 | €19,379 | +€11,035 | +132% |
| Recurring financial charges | 65 | €8,344 | €19,379 | +€11,035 | +132% |
| Profit (loss) for the period before taxes | 9903 | €160,113 | €730,004 | +€569,891 | +356% |
| Transfer to deferred taxes | 680 | - | €46,712 | +€46,712 | |
| Income taxes | 67/77 | €21,926 | €169,461 | +€147,535 | +673% |
| Profit (loss) for the period | 9904 | €138,188 | €513,832 | +€375,644 | +272% |
| Transfer to tax-exempt reserves | 689 | - | €140,135 | +€140,135 | |
| Profit (loss) for the period to be appropriated | 9905 | €138,188 | €373,697 | +€235,509 | +170% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.