NORTH DEVELOPMENT: 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.
NORTH DEVELOPMENT
Largest movements
- Stocks and contracts +€121,033
up €121,033 (+10.7%), from €1.1m to €1.2m
- Other debts +€192,140
up €192,140 (+125.4%), from €153,188 to €345,328
- Profit (loss) carried forward -€42,167
down €42,167 (-148.0%), from -€28,489 to -€70,656
- Accrued charges and deferred income -€15,607
down €15,607 (-91.9%), from €16,987 to €1,380
- Financial charges +€10,426
up €10,426 (+34.6%), from €30,090 to €40,515
- Financial income -€6,456
down €6,456 (-87.2%), from €7,401 to €945
- Gross operating margin -€3,517
down €3,517, from €1,401 to -€2,117
- Other operating charges -€65
down €65 (-11.9%), from €545 to €480
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 | €1,251,085 | €1,384,203 | +€133,118 | +10.6% |
| Current assets | 29/58 | €1,251,085 | €1,384,203 | +€133,118 | +10.6% |
| Stocks and contracts in progress | 3 | €1,127,003 | €1,248,036 | +€121,033 | +10.7% |
| Stocks | 30/36 | €1,127,003 | €1,248,036 | +€121,033 | +10.7% |
| Amounts receivable within one year | 40/41 | €123,813 | €134,955 | +€11,142 | +9.0% |
| Trade receivables | 40 | €55,650 | €0 | -€55,650 | -100.0% |
| Other amounts receivable | 41 | €68,163 | €134,955 | +€66,792 | +98.0% |
| Cash at bank and in hand | 54/58 | €269 | €1,211 | +€942 | +350.8% |
| Total equity and liabilities | 10/49 | €1,251,085 | €1,384,203 | +€133,118 | +10.6% |
| Equity | 10/15 | -€25,489 | -€67,656 | -€42,167 | -165.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,489 | -€70,656 | -€42,167 | -148.0% |
| Amounts payable | 17/49 | €1,276,574 | €1,451,859 | +€175,285 | +13.7% |
| Amounts payable within one year | 42/48 | €1,259,586 | €1,450,479 | +€190,893 | +15.2% |
| Financial debts | 43 | €1,100,000 | €1,100,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,100,000 | €1,100,000 | = | 0.0% |
| Trade debts | 44 | €6,399 | €5,151 | -€1,248 | -19.5% |
| Suppliers | 440/4 | €6,399 | €5,151 | -€1,248 | -19.5% |
| Other amounts payable | 47/48 | €153,188 | €345,328 | +€192,140 | +125.4% |
| Accrued charges and deferred income | 492/3 | €16,987 | €1,380 | -€15,607 | -91.9% |
| Other operating charges | 640/8 | €545 | €480 | -€65 | -11.9% |
| Gross operating margin | 9900 | €1,401 | -€2,117 | -€3,517 | |
| Operating profit (loss) | 9901 | €856 | -€2,597 | -€3,452 | |
| Financial income | 75/76B | €7,401 | €945 | -€6,456 | -87.2% |
| Recurring financial income | 75 | €7,401 | €945 | -€6,456 | -87.2% |
| Financial charges | 65/66B | €30,090 | €40,515 | +€10,426 | +34.6% |
| Recurring financial charges | 65 | €30,090 | €40,515 | +€10,426 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,833 | -€42,167 | -€20,334 | -93.1% |
| Profit (loss) for the period | 9904 | -€21,833 | -€42,167 | -€20,334 | -93.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,833 | -€42,167 | -€20,334 | -93.1% |
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 9 October 2026 via checked.be.