NORSU: 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.
NORSU
Largest movements
- Tangible fixed assets +€28,558
up €28,558 (+545%), from €5,242 to €33,801
- Receivables within one year +€8,385
up €8,385 (+100%), from €8,385 to €16,771
- Reserves +€30,000
up €30,000 (+40.4%), from €74,260 to €104,260
- Tax, wage and social debts +€4,828
up €4,828 (+101%), from €4,774 to €9,602
- Profit (loss) carried forward +€1,364
up €1,364 (+17.6%), from €7,759 to €9,123
- Gross operating margin -€25,115
down €25,115 (-25.4%), from €98,816 to €73,701
- Taxes -€8,306
down €8,306 (-30.2%), from €27,515 to €19,210
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 | €86,822 | €123,017 | +€36,195 | +41.7% |
| Fixed assets | 21/28 | €5,242 | €33,801 | +€28,558 | +545% |
| Tangible fixed assets | 22/27 | €5,242 | €33,801 | +€28,558 | +545% |
| Furniture and vehicles | 24 | €5,242 | €33,801 | +€28,558 | +545% |
| Current assets | 29/58 | €81,580 | €89,216 | +€7,636 | +9.4% |
| Amounts receivable within one year | 40/41 | €8,385 | €16,771 | +€8,385 | +100% |
| Trade receivables | 40 | €8,385 | €16,771 | +€8,385 | +100% |
| Cash at bank and in hand | 54/58 | €73,194 | €72,445 | -€749 | -1.0% |
| Total equity and liabilities | 10/49 | €86,822 | €123,017 | +€36,195 | +41.7% |
| Equity | 10/15 | €82,019 | €113,383 | +€31,364 | +38.2% |
| Reserves | 13 | €74,260 | €104,260 | +€30,000 | +40.4% |
| Distributable reserves | 133 | €74,260 | €104,260 | +€30,000 | +40.4% |
| Profit (loss) carried forward | 14 | €7,759 | €9,123 | +€1,364 | +17.6% |
| Amounts payable | 17/49 | €4,803 | €9,634 | +€4,831 | +101% |
| Amounts payable within one year | 42/48 | €4,803 | €9,634 | +€4,831 | +101% |
| Trade debts | 44 | €29 | €32 | +€3 | +11.6% |
| Suppliers | 440/4 | €29 | €32 | +€3 | +11.6% |
| Taxes, remuneration and social security | 45 | €4,774 | €9,602 | +€4,828 | +101% |
| Taxes | 450/3 | €4,774 | €9,602 | +€4,828 | +101% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,057 | €3,019 | +€962 | +46.8% |
| Other operating charges | 640/8 | €451 | €465 | +€14 | +3.2% |
| Gross operating margin | 9900 | €98,816 | €73,701 | -€25,115 | -25.4% |
| Operating profit (loss) | 9901 | €96,308 | €70,217 | -€26,091 | -27.1% |
| Financial income | 75/76B | €82 | €371 | +€289 | +353% |
| Recurring financial income | 75 | €82 | €371 | +€289 | +353% |
| Financial charges | 65/66B | €30 | €15 | -€15 | -50.0% |
| Recurring financial charges | 65 | €30 | €15 | -€15 | -50.0% |
| Profit (loss) for the period before taxes | 9903 | €96,360 | €70,573 | -€25,787 | -26.8% |
| Income taxes | 67/77 | €27,515 | €19,210 | -€8,306 | -30.2% |
| Profit (loss) for the period | 9904 | €68,845 | €51,364 | -€17,481 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €68,845 | €51,364 | -€17,481 | -25.4% |
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 14 October 2026 via checked.be.