’t Noorderlicht: 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.
’t Noorderlicht
Largest movements
- Cash +€31,974
up €31,974 (+38.9%), from €82,244 to €114,218
mainly Net result for the year (+€49,896) and Tax, wage and social debts (+€18,368)
- Receivables within one year +€7,670
up €7,670 (+653%), from €1,174 to €8,844
of which Trade receivables: +€7,480
- Tangible fixed assets -€2,607
down €2,607 (-52.7%), from €4,945 to €2,338
of which Plant, machinery and equipment: -€1,490
- Reserves +€49,037
up €49,037 (+162%), from €30,286 to €79,323
- Debts after one year -€25,000
down €25,000 (-71.4%), from €35,000 to €10,000
- Tax, wage and social debts +€18,368
up €18,368 (+108%), from €17,016 to €35,384
of which Taxes: +€20,375
- Current portion of long-term debt -€6,849
down €6,849 (-100%), from €6,849 to €0
- Trade debts +€5,919
up €5,919 (+54.8%), from €10,793 to €16,713
- Gross operating margin +€48,725
up €48,725 (+64.5%), from €75,556 to €124,281
- Taxes +€12,893
new in 2025: €12,893
- Depreciation -€4,883
down €4,883 (-65.2%), from €7,490 to €2,607
- Staff costs +€4,359
up €4,359 (+8.6%), from €50,795 to €55,154
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 | €115,877 | €153,390 | +€37,513 | +32.4% |
| Fixed assets | 21/28 | €10,795 | €8,188 | -€2,607 | -24.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €4,945 | €2,338 | -€2,607 | -52.7% |
| Plant, machinery and equipment | 23 | €2,467 | €977 | -€1,490 | -60.4% |
| Furniture and vehicles | 24 | €2,478 | €1,361 | -€1,117 | -45.1% |
| Financial fixed assets | 28 | €5,850 | €5,850 | = | 0.0% |
| Current assets | 29/58 | €105,082 | €145,202 | +€40,120 | +38.2% |
| Stocks and contracts in progress | 3 | €21,664 | €20,633 | -€1,032 | -4.8% |
| Stocks | 30/36 | €21,664 | €20,633 | -€1,032 | -4.8% |
| Amounts receivable within one year | 40/41 | €1,174 | €8,844 | +€7,670 | +653% |
| Trade receivables | 40 | €0 | €7,480 | +€7,480 | |
| Other amounts receivable | 41 | €1,174 | €1,364 | +€190 | +16.2% |
| Cash at bank and in hand | 54/58 | €82,244 | €114,218 | +€31,974 | +38.9% |
| Deferred charges and accrued income | 490/1 | - | €1,507 | +€1,507 | |
| Total equity and liabilities | 10/49 | €115,877 | €153,390 | +€37,513 | +32.4% |
| Equity | 10/15 | €36,486 | €85,523 | +€49,037 | +134% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €30,286 | €79,323 | +€49,037 | +162% |
| Distributable reserves | 133 | €30,286 | €79,323 | +€49,037 | +162% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €79,391 | €67,867 | -€11,524 | -14.5% |
| Amounts payable after more than one year | 17 | €35,000 | €10,000 | -€25,000 | -71.4% |
| Financial debts | 170/4 | €35,000 | €10,000 | -€25,000 | -71.4% |
| Amounts payable within one year | 42/48 | €44,004 | €57,468 | +€13,464 | +30.6% |
| Current portion of amounts payable after more than one year | 42 | €6,849 | €0 | -€6,849 | -100% |
| Trade debts | 44 | €10,793 | €16,713 | +€5,919 | +54.8% |
| Suppliers | 440/4 | €10,793 | €16,713 | +€5,919 | +54.8% |
| Advances received on contracts in progress | 46 | €712 | €2,307 | +€1,595 | +224% |
| Taxes, remuneration and social security | 45 | €17,016 | €35,384 | +€18,368 | +108% |
| Taxes | 450/3 | €10,950 | €31,325 | +€20,375 | +186% |
| Remuneration and social security | 454/9 | €6,065 | €4,059 | -€2,006 | -33.1% |
| Other amounts payable | 47/48 | €8,634 | €3,063 | -€5,570 | -64.5% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Remuneration, social security and pensions | 62 | €50,795 | €55,154 | +€4,359 | +8.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,490 | €2,607 | -€4,883 | -65.2% |
| Other operating charges | 640/8 | €1,509 | €1,901 | +€393 | +26.0% |
| Gross operating margin | 9900 | €75,556 | €124,281 | +€48,725 | +64.5% |
| Operating profit (loss) | 9901 | €15,762 | €64,619 | +€48,856 | +310% |
| Financial income | 75/76B | €1,028 | €176 | -€852 | -82.9% |
| Recurring financial income | 75 | €1,028 | €176 | -€852 | -82.9% |
| Financial charges | 65/66B | €1,545 | €2,005 | +€460 | +29.8% |
| Recurring financial charges | 65 | €1,545 | €2,005 | +€460 | +29.8% |
| Profit (loss) for the period before taxes | 9903 | €15,246 | €62,789 | +€47,544 | +312% |
| Income taxes | 67/77 | - | €12,893 | +€12,893 | |
| Profit (loss) for the period | 9904 | €15,246 | €49,896 | +€34,650 | +227% |
| Profit (loss) for the period to be appropriated | 9905 | €15,246 | €49,896 | +€34,650 | +227% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.