NOURDIN CENTER: what changed
NOURDIN CENTER
Largest movements
- Cash +€46,512
up €46,512 (+8.5%), from €549,746 to €596,258
mainly Other debts (+€103,665) and Stocks and contracts (+€45,590)
- Stocks and contracts -€45,590
down €45,590 (-13.0%), from €350,695 to €305,105
- Receivables within one year -€19,253
down €19,253 (-9.6%), from €200,065 to €180,812
of which Other amounts receivable: -€10,396
- Tangible fixed assets -€11,260
down €11,260 (-89.7%), from €12,555 to €1,294
- Other debts +€103,665
up €103,665 (+26.5%), from €390,807 to €494,472
- Reserves -€61,092
down €61,092 (-12.1%), from €504,688 to €443,596
- Accrued charges and deferred income -€26,978
no longer reported in 2025 (was €26,978)
- Current portion of long-term debt -€17,906
down €17,906 (-92.4%), from €19,378 to €1,472
- Trade debts -€17,686
down €17,686 (-17.7%), from €99,854 to €82,168
- Gross operating margin -€123,452
down €123,452 (-50.4%), from €245,092 to €121,640
- Staff costs -€49,317
down €49,317 (-45.9%), from €107,526 to €58,210
- Financial charges -€27,808
down €27,808 (-93.4%), from €29,767 to €1,959
- Taxes -€11,870
down €11,870 (-45.6%), from €26,015 to €14,145
- Depreciation -€9,232
down €9,232 (-45.1%), from €20,492 to €11,260
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,125,922 | €1,094,518 | -€31,404 | -2.8% |
| Fixed assets | 21/28 | €19,755 | €8,572 | -€11,182 | -56.6% |
| Tangible fixed assets | 22/27 | €12,555 | €1,294 | -€11,260 | -89.7% |
| Furniture and vehicles | 24 | €12,555 | €1,294 | -€11,260 | -89.7% |
| Financial fixed assets | 28 | €7,200 | €7,278 | +€78 | +1.1% |
| Current assets | 29/58 | €1,106,167 | €1,085,946 | -€20,222 | -1.8% |
| Stocks and contracts in progress | 3 | €350,695 | €305,105 | -€45,590 | -13.0% |
| Stocks | 30/36 | €350,695 | €305,105 | -€45,590 | -13.0% |
| Amounts receivable within one year | 40/41 | €200,065 | €180,812 | -€19,253 | -9.6% |
| Trade receivables | 40 | €168,858 | €160,001 | -€8,857 | -5.2% |
| Other amounts receivable | 41 | €31,207 | €20,812 | -€10,396 | -33.3% |
| Cash at bank and in hand | 54/58 | €549,746 | €596,258 | +€46,512 | +8.5% |
| Deferred charges and accrued income | 490/1 | €5,662 | €3,771 | -€1,891 | -33.4% |
| Total equity and liabilities | 10/49 | €1,125,922 | €1,094,518 | -€31,404 | -2.8% |
| Equity | 10/15 | €559,688 | €498,596 | -€61,092 | -10.9% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €504,688 | €443,596 | -€61,092 | -12.1% |
| Distributable reserves | 133 | €504,688 | €443,596 | -€61,092 | -12.1% |
| Amounts payable | 17/49 | €566,235 | €595,923 | +€29,688 | +5.2% |
| Amounts payable after more than one year | 17 | €1,472 | - | -€1,472 | |
| Financial debts | 170/4 | €1,472 | - | -€1,472 | |
| Amounts payable within one year | 42/48 | €537,784 | €595,923 | +€58,139 | +10.8% |
| Current portion of amounts payable after more than one year | 42 | €19,378 | €1,472 | -€17,906 | -92.4% |
| Trade debts | 44 | €99,854 | €82,168 | -€17,686 | -17.7% |
| Suppliers | 440/4 | €99,854 | €82,168 | -€17,686 | -17.7% |
| Taxes, remuneration and social security | 45 | €27,744 | €17,810 | -€9,934 | -35.8% |
| Taxes | 450/3 | €16,425 | €7,876 | -€8,550 | -52.1% |
| Remuneration and social security | 454/9 | €11,319 | €9,934 | -€1,385 | -12.2% |
| Other amounts payable | 47/48 | €390,807 | €494,472 | +€103,665 | +26.5% |
| Accrued charges and deferred income | 492/3 | €26,978 | - | -€26,978 | |
| Remuneration, social security and pensions | 62 | €107,526 | €58,210 | -€49,317 | -45.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,492 | €11,260 | -€9,232 | -45.1% |
| Other operating charges | 640/8 | €7,424 | €7,600 | +€176 | +2.4% |
| Non-recurring operating charges | 66A | €2,908 | €3,271 | +€363 | +12.5% |
| Gross operating margin | 9900 | €245,092 | €121,640 | -€123,452 | -50.4% |
| Operating profit (loss) | 9901 | €106,741 | €41,299 | -€65,443 | -61.3% |
| Financial income | 75/76B | €6,548 | €5,313 | -€1,235 | -18.9% |
| Recurring financial income | 75 | €6,548 | €5,313 | -€1,235 | -18.9% |
| Financial charges | 65/66B | €29,767 | €1,959 | -€27,808 | -93.4% |
| Recurring financial charges | 65 | €29,767 | €1,959 | -€27,808 | -93.4% |
| Profit (loss) for the period before taxes | 9903 | €83,522 | €44,653 | -€38,869 | -46.5% |
| Income taxes | 67/77 | €26,015 | €14,145 | -€11,870 | -45.6% |
| Profit (loss) for the period | 9904 | €57,507 | €30,508 | -€26,999 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,507 | €30,508 | -€26,999 | -46.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.