NORWEST PROPERTIES: 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.
NORWEST PROPERTIES
Largest movements
- Tangible fixed assets -€280,268
down €280,268 (-23.0%), from €1.2m to €937,001
of which Land and buildings: -€280,117
- Current investments +€200,000
new in 2025: €200,000
- Cash +€53,073
up €53,073 (+166%), from €31,944 to €85,017
mainly Investment in fixed assets (net) (+€259,356) and Net result for the year (+€23,777)
- Receivables within one year +€28,388
up €28,388 (+1,975%), from €1,437 to €29,825
of which Trade receivables: +€29,605
- Debts after one year -€51,151
down €51,151 (-33.5%), from €152,731 to €101,580
- Profit (loss) carried forward +€23,777
up €23,777 (+3.6%), from €664,301 to €688,078
- Gross operating margin +€35,331
up €35,331 (+124%), from €28,418 to €63,749
- Depreciation -€6,903
down €6,903 (-24.8%), from €27,815 to €20,912
- Taxes +€3,885
new in 2025: €3,885
- Financial charges -€3,782
down €3,782 (-27.1%), from €13,954 to €10,172
- Other operating charges +€3,598
up €3,598 (+252%), from €1,428 to €5,026
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 | €1,251,082 | €1,252,115 | +€1,033 | +0.1% |
| Fixed assets | 21/28 | €1,217,518 | €937,251 | -€280,268 | -23.0% |
| Tangible fixed assets | 22/27 | €1,217,268 | €937,001 | -€280,268 | -23.0% |
| Land and buildings | 22 | €1,216,939 | €936,822 | -€280,117 | -23.0% |
| Plant, machinery and equipment | 23 | €72 | €21 | -€51 | -70.6% |
| Furniture and vehicles | 24 | €257 | €158 | -€100 | -38.7% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €33,564 | €314,864 | +€281,301 | +838% |
| Amounts receivable within one year | 40/41 | €1,437 | €29,825 | +€28,388 | +1,975% |
| Trade receivables | 40 | €220 | €29,825 | +€29,605 | +13,457% |
| Other amounts receivable | 41 | €1,217 | - | -€1,217 | |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €31,944 | €85,017 | +€53,073 | +166% |
| Deferred charges and accrued income | 490/1 | €183 | €23 | -€160 | -87.7% |
| Total equity and liabilities | 10/49 | €1,251,082 | €1,252,115 | +€1,033 | +0.1% |
| Equity | 10/15 | €1,046,465 | €1,070,242 | +€23,777 | +2.3% |
| Contributions | 10/11 | €313,073 | €313,073 | = | 0.0% |
| Reserves | 13 | €69,091 | €69,091 | = | 0.0% |
| Distributable reserves | 133 | €69,091 | €69,091 | = | 0.0% |
| Profit (loss) carried forward | 14 | €664,301 | €688,078 | +€23,777 | +3.6% |
| Amounts payable | 17/49 | €204,617 | €181,873 | -€22,744 | -11.1% |
| Amounts payable after more than one year | 17 | €152,731 | €101,580 | -€51,151 | -33.5% |
| Financial debts | 170/4 | €152,731 | €101,580 | -€51,151 | -33.5% |
| Amounts payable within one year | 42/48 | €51,887 | €77,127 | +€25,240 | +48.6% |
| Current portion of amounts payable after more than one year | 42 | €48,353 | €51,151 | +€2,797 | +5.8% |
| Trade debts | 44 | - | €5,967 | +€5,967 | |
| Suppliers | 440/4 | - | €5,967 | +€5,967 | |
| Taxes, remuneration and social security | 45 | - | €10,064 | +€10,064 | |
| Taxes | 450/3 | - | €10,064 | +€10,064 | |
| Other amounts payable | 47/48 | €3,533 | €9,945 | +€6,412 | +181% |
| Accrued charges and deferred income | 492/3 | - | €3,167 | +€3,167 | |
| Non-recurring operating income | 76A | - | €54,052 | +€54,052 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,815 | €20,912 | -€6,903 | -24.8% |
| Other operating charges | 640/8 | €1,428 | €5,026 | +€3,598 | +252% |
| Gross operating margin | 9900 | €28,418 | €63,749 | +€35,331 | +124% |
| Operating profit (loss) | 9901 | -€825 | €37,811 | +€38,636 | |
| Financial income | 75/76B | €0 | €23 | +€22 | +10,710% |
| Recurring financial income | 75 | €0 | €23 | +€22 | +10,710% |
| Financial charges | 65/66B | €13,954 | €10,172 | -€3,782 | -27.1% |
| Recurring financial charges | 65 | €13,954 | €10,172 | -€3,782 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | -€14,779 | €27,662 | +€42,441 | |
| Income taxes | 67/77 | - | €3,885 | +€3,885 | |
| Profit (loss) for the period | 9904 | -€14,779 | €23,777 | +€38,556 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,779 | €23,777 | +€38,556 |
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 19 October 2026 via checked.be.