North Sails: 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 Sails
Largest movements
- Receivables within one year -€573,804
down €573,804 (-52.2%), from €1.1m to €524,616
of which Trade receivables: -€290,570
- Receivables after one year +€333,762
new in 2024: €333,762
- Cash -€216,241
down €216,241 (-97.0%), from €222,934 to €6,694
mainly Accrued charges and deferred income (-€417,800) and Receivables after one year (-€333,762)
- Tangible fixed assets +€18,052
up €18,052 (+89.0%), from €20,280 to €38,332
of which Other tangible fixed assets: +€19,525
- Accrued charges and deferred income -€417,800
down €417,800 (-29.0%), from €1.4m to €1.0m
- Profit (loss) carried forward +€239,635
up €239,635 (+15.7%), from -€1.5m to -€1.3m
- Trade debts -€223,729
down €223,729 (-41.7%), from €536,168 to €312,439
- Tax, wage and social debts -€106,408
down €106,408 (-49.4%), from €215,518 to €109,110
of which Taxes: -€106,595
- Other debts +€97,750
up €97,750 (+24505.5%), from €399 to €98,149
- Financial charges +€252,521
up €252,521 (+164.3%), from €153,675 to €406,197
- Financial income +€220,800
up €220,800 (+198.3%), from €111,336 to €332,136
- Other operating charges -€171,640
down €171,640 (-53.8%), from €318,797 to €147,156
- Staff costs +€71,744
up €71,744 (+13.9%), from €515,372 to €587,116
- Gross operating margin -€47,684
down €47,684 (-4.3%), from €1.1m to €1.0m
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.
Cash bridge derived
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 | €1,482,502 | €1,051,728 | -€430,774 | -29.1% |
| Fixed assets | 21/28 | €20,280 | €38,332 | +€18,052 | +89.0% |
| Tangible fixed assets | 22/27 | €20,280 | €38,332 | +€18,052 | +89.0% |
| Plant, machinery and equipment | 23 | €3,385 | €2,522 | -€863 | -25.5% |
| Furniture and vehicles | 24 | €1,420 | €810 | -€610 | -43.0% |
| Other tangible fixed assets | 26 | €15,475 | €35,000 | +€19,525 | +126.2% |
| Current assets | 29/58 | €1,462,222 | €1,013,397 | -€448,826 | -30.7% |
| Amounts receivable after more than one year | 29 | - | €333,762 | +€333,762 | |
| Other amounts receivable | 291 | - | €333,762 | +€333,762 | |
| Stocks and contracts in progress | 3 | €120,969 | €129,968 | +€8,999 | +7.4% |
| Stocks | 30/36 | €120,969 | €129,968 | +€8,999 | +7.4% |
| Amounts receivable within one year | 40/41 | €1,098,420 | €524,616 | -€573,804 | -52.2% |
| Trade receivables | 40 | €810,419 | €519,848 | -€290,570 | -35.9% |
| Other amounts receivable | 41 | €288,001 | €4,767 | -€283,234 | -98.3% |
| Cash at bank and in hand | 54/58 | €222,934 | €6,694 | -€216,241 | -97.0% |
| Deferred charges and accrued income | 490/1 | €19,899 | €18,357 | -€1,542 | -7.7% |
| Total equity and liabilities | 10/49 | €1,482,502 | €1,051,728 | -€430,774 | -29.1% |
| Equity | 10/15 | -€1,241,397 | -€1,001,762 | +€239,635 | +19.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €221,614 | €221,614 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €215,414 | €215,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,525,010 | -€1,285,376 | +€239,635 | +15.7% |
| Amounts payable | 17/49 | €2,723,899 | €2,053,490 | -€670,409 | -24.6% |
| Amounts payable within one year | 42/48 | €1,282,262 | €1,029,653 | -€252,609 | -19.7% |
| Financial debts | 43 | €94,549 | - | -€94,549 | |
| Other loans | 439 | €94,549 | - | -€94,549 | |
| Trade debts | 44 | €536,168 | €312,439 | -€223,729 | -41.7% |
| Suppliers | 440/4 | €536,168 | €312,439 | -€223,729 | -41.7% |
| Advances received on contracts in progress | 46 | €435,628 | €509,955 | +€74,328 | +17.1% |
| Taxes, remuneration and social security | 45 | €215,518 | €109,110 | -€106,408 | -49.4% |
| Taxes | 450/3 | €199,143 | €92,548 | -€106,595 | -53.5% |
| Remuneration and social security | 454/9 | €16,375 | €16,562 | +€187 | +1.1% |
| Other amounts payable | 47/48 | €399 | €98,149 | +€97,750 | +24505.5% |
| Accrued charges and deferred income | 492/3 | €1,441,637 | €1,023,837 | -€417,800 | -29.0% |
| Remuneration, social security and pensions | 62 | €515,372 | €587,116 | +€71,744 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,159 | €16,948 | -€6,211 | -26.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€17,059 | €19,405 | +€36,463 | |
| Other operating charges | 640/8 | €318,797 | €147,156 | -€171,640 | -53.8% |
| Gross operating margin | 9900 | €1,097,005 | €1,049,320 | -€47,684 | -4.3% |
| Operating profit (loss) | 9901 | €256,736 | €278,696 | +€21,960 | +8.6% |
| Financial income | 75/76B | €111,336 | €332,136 | +€220,800 | +198.3% |
| Recurring financial income | 75 | €111,336 | €332,136 | +€220,800 | +198.3% |
| Financial charges | 65/66B | €153,675 | €406,197 | +€252,521 | +164.3% |
| Recurring financial charges | 65 | €153,675 | €406,197 | +€252,521 | +164.3% |
| Profit (loss) for the period before taxes | 9903 | €214,396 | €204,635 | -€9,762 | -4.6% |
| Income taxes | 67/77 | - | -€35,000 | -€35,000 | |
| Profit (loss) for the period | 9904 | €214,396 | €239,635 | +€25,238 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €214,396 | €239,635 | +€25,238 | +11.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.