NORTH END: 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 END
Largest movements
- Current investments -€130,000
no longer reported in 2025 (was €130,000)
- Cash +€51,814
up €51,814 (+125.2%), from €41,369 to €93,182
mainly Current investments (+€130,000) and Net result for the year (+€65,227)
- Receivables after one year -€20,000
no longer reported in 2025 (was €20,000)
- Receivables within one year +€15,745
up €15,745 (+44.4%), from €35,475 to €51,219
of which Other amounts receivable: +€21,815
- Reserves -€76,352
down €76,352 (-97.6%), from €78,212 to €1,860
- Other debts +€24,510
up €24,510 (+19.5%), from €126,003 to €150,512
- Tax, wage and social debts -€17,730
down €17,730 (-70.6%), from €25,126 to €7,396
of which Remuneration and social security: -€14,210
- Debts after one year -€7,266
down €7,266 (-10.7%), from €67,678 to €60,412
- Trade debts -€3,696
down €3,696 (-89.4%), from €4,137 to €440
- Gross operating margin -€14,482
down €14,482 (-12.8%), from €113,293 to €98,811
- Financial charges +€6,119
up €6,119, from -€7 to €6,112
of which Financial charges: +€6,122
- Taxes -€5,669
down €5,669 (-24.6%), from €23,006 to €17,336
- Financial income -€3,287
down €3,287 (-52.0%), from €6,315 to €3,029
of which Financial income: -€3,295
- Depreciation +€1,396
up €1,396 (+12.3%), from €11,370 to €12,766
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 | €327,060 | €246,587 | -€80,473 | -24.6% |
| Fixed assets | 21/28 | €99,901 | €101,879 | +€1,978 | +2.0% |
| Tangible fixed assets | 22/27 | €99,876 | €101,854 | +€1,978 | +2.0% |
| Land and buildings | 22 | €92,684 | €94,515 | +€1,831 | +2.0% |
| Plant, machinery and equipment | 23 | €1,097 | €684 | -€413 | -37.7% |
| Furniture and vehicles | 24 | €6,095 | €6,655 | +€560 | +9.2% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €227,159 | €144,708 | -€82,451 | -36.3% |
| Amounts receivable after more than one year | 29 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 291 | €20,000 | - | -€20,000 | |
| Amounts receivable within one year | 40/41 | €35,475 | €51,219 | +€15,745 | +44.4% |
| Trade receivables | 40 | €35,475 | €29,405 | -€6,070 | -17.1% |
| Other amounts receivable | 41 | - | €21,815 | +€21,815 | |
| Current investments | 50/53 | €130,000 | - | -€130,000 | |
| Cash at bank and in hand | 54/58 | €41,369 | €93,182 | +€51,814 | +125.2% |
| Deferred charges and accrued income | 490/1 | €316 | €306 | -€10 | -3.1% |
| Total equity and liabilities | 10/49 | €327,060 | €246,587 | -€80,473 | -24.6% |
| Equity | 10/15 | €96,912 | €20,560 | -€76,352 | -78.8% |
| Contributions | 10/11 | €18,700 | €18,700 | = | 0.0% |
| Reserves | 13 | €78,212 | €1,860 | -€76,352 | -97.6% |
| Distributable reserves | 133 | €78,212 | €1,860 | -€76,352 | -97.6% |
| Amounts payable | 17/49 | €230,148 | €226,027 | -€4,121 | -1.8% |
| Amounts payable after more than one year | 17 | €67,678 | €60,412 | -€7,266 | -10.7% |
| Financial debts | 170/4 | €67,678 | €60,412 | -€7,266 | -10.7% |
| Amounts payable within one year | 42/48 | €162,470 | €165,615 | +€3,145 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €7,205 | €7,266 | +€62 | +0.9% |
| Trade debts | 44 | €4,137 | €440 | -€3,696 | -89.4% |
| Suppliers | 440/4 | €4,137 | €440 | -€3,696 | -89.4% |
| Taxes, remuneration and social security | 45 | €25,126 | €7,396 | -€17,730 | -70.6% |
| Taxes | 450/3 | €10,916 | €7,396 | -€3,520 | -32.2% |
| Remuneration and social security | 454/9 | €14,210 | - | -€14,210 | |
| Other amounts payable | 47/48 | €126,003 | €150,512 | +€24,510 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,370 | €12,766 | +€1,396 | +12.3% |
| Other operating charges | 640/8 | €386 | €399 | +€13 | +3.4% |
| Gross operating margin | 9900 | €113,293 | €98,811 | -€14,482 | -12.8% |
| Operating profit (loss) | 9901 | €101,537 | €85,646 | -€15,891 | -15.7% |
| Financial income | 75/76B | €6,315 | €3,029 | -€3,287 | -52.0% |
| Recurring financial income | 75 | €6,315 | €3,020 | -€3,295 | -52.2% |
| Non-recurring financial income | 76B | €0 | €9 | +€9 | +2669.7% |
| Financial charges | 65/66B | -€7 | €6,112 | +€6,119 | |
| Recurring financial charges | 65 | -€10 | €6,112 | +€6,122 | |
| Non-recurring financial charges | 66B | €3 | €0 | -€3 | -89.3% |
| Profit (loss) for the period before taxes | 9903 | €107,859 | €82,563 | -€25,296 | -23.5% |
| Income taxes | 67/77 | €23,006 | €17,336 | -€5,669 | -24.6% |
| Profit (loss) for the period | 9904 | €84,854 | €65,227 | -€19,627 | -23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €84,854 | €65,227 | -€19,627 | -23.1% |
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 7 October 2026 via checked.be.