Nortada: 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.
Nortada
Largest movements
- Receivables within one year +€14,892
up €14,892 (+71.8%), from €20,746 to €35,638
- Tangible fixed assets -€14,565
down €14,565 (-32.4%), from €45,019 to €30,454
- Cash -€1,971
down €1,971 (-2.7%), from €73,260 to €71,289
mainly Other debts (-€22,795) and Receivables within one year (-€14,892)
- Reserves +€26,432
up €26,432 (+42.4%), from €62,356 to €88,788
- Other debts -€22,795
down €22,795 (-91.4%), from €24,947 to €2,152
- Debts after one year -€10,358
down €10,358 (-40.0%), from €25,891 to €15,533
- Tax, wage and social debts +€4,048
up €4,048 (+30.2%), from €13,413 to €17,461
- Gross operating margin +€4,458
up €4,458 (+9.3%), from €47,831 to €52,289
- Taxes +€1,712
up €1,712 (+22.9%), from €7,480 to €9,192
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 | €140,057 | €138,321 | -€1,736 | -1.2% |
| Fixed assets | 21/28 | €45,019 | €30,454 | -€14,565 | -32.4% |
| Tangible fixed assets | 22/27 | €45,019 | €30,454 | -€14,565 | -32.4% |
| Furniture and vehicles | 24 | €45,019 | €30,454 | -€14,565 | -32.4% |
| Current assets | 29/58 | €95,039 | €107,868 | +€12,829 | +13.5% |
| Amounts receivable within one year | 40/41 | €20,746 | €35,638 | +€14,892 | +71.8% |
| Trade receivables | 40 | €20,746 | €35,638 | +€14,892 | +71.8% |
| Cash at bank and in hand | 54/58 | €73,260 | €71,289 | -€1,971 | -2.7% |
| Deferred charges and accrued income | 490/1 | €1,033 | €941 | -€92 | -8.9% |
| Total equity and liabilities | 10/49 | €140,057 | €138,321 | -€1,736 | -1.2% |
| Equity | 10/15 | €65,356 | €91,788 | +€26,432 | +40.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €62,356 | €88,788 | +€26,432 | +42.4% |
| Distributable reserves | 133 | €62,356 | €88,788 | +€26,432 | +42.4% |
| Amounts payable | 17/49 | €74,702 | €46,534 | -€28,168 | -37.7% |
| Amounts payable after more than one year | 17 | €25,891 | €15,533 | -€10,358 | -40.0% |
| Financial debts | 170/4 | €25,891 | €15,533 | -€10,358 | -40.0% |
| Amounts payable within one year | 42/48 | €48,811 | €31,000 | -€17,810 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €9,882 | €10,358 | +€476 | +4.8% |
| Trade debts | 44 | €569 | €1,030 | +€461 | +81.0% |
| Suppliers | 440/4 | €569 | €1,030 | +€461 | +81.0% |
| Taxes, remuneration and social security | 45 | €13,413 | €17,461 | +€4,048 | +30.2% |
| Taxes | 450/3 | €13,413 | €17,461 | +€4,048 | +30.2% |
| Other amounts payable | 47/48 | €24,947 | €2,152 | -€22,795 | -91.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,565 | €14,565 | -€0 | 0.0% |
| Other operating charges | 640/8 | €346 | €467 | +€121 | +35.1% |
| Gross operating margin | 9900 | €47,831 | €52,289 | +€4,458 | +9.3% |
| Operating profit (loss) | 9901 | €32,920 | €37,257 | +€4,337 | +13.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,045 | €1,633 | -€411 | -20.1% |
| Recurring financial charges | 65 | €2,045 | €1,633 | -€411 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €30,875 | €35,623 | +€4,748 | +15.4% |
| Income taxes | 67/77 | €7,480 | €9,192 | +€1,712 | +22.9% |
| Profit (loss) for the period | 9904 | €23,396 | €26,432 | +€3,036 | +13.0% |
| Profit (loss) for the period to be appropriated | 9905 | €23,396 | €26,432 | +€3,036 | +13.0% |
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 29 September 2026 via checked.be.