Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Tight liquidity NBB
Cash and receivables cover 9 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
NORM from Kortrijk, company number BE0425288481, closed financial year 2025 with a result of € -23,362 after tax. For that financial year NORM recorded revenue of € 3.1 million and equity of € -1.7 million. Compared with financial year 2024, the result moved from € 303,554 to € -23,362. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 13, 2026.
€ -1.7 million
▼ € 23,362 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -23,362
▼ still € 303,554 profit in 2024
Profit after tax over the fiscal year.
€ 61,587
▲ € 51,546 vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -2.1 million.
People and assets in 2025
19.4
▲ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 961,515
▼ 5% vs 2024
€ 49,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 70,735
▼ 26% vs 2024
Of which on lease € 70,735.
Debts at end 2025
€ 949,520
▼ 51% vs 2024
€ 57,161 is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 403,878
▼ 52% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 73 days on average.
€ 127,275
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 3,309,905 | € 3,725,160 | € 3,394,632 | € 3,131,002 | ▼ 8% |
| Profit after taxes | € -4,726 | € 433,037 | € 303,554 | € -23,362 | ▼ € 326,917 |
| Equity | € -2,377,420 | € -1,944,382 | € -1,640,828 | € -1,664,190 | ▼ € 23,362 |
| Total debts | € 3,348,321 | € 3,227,073 | € 3,058,260 | € 3,255,151 | ▲ 6% |
| Cash | € 1,492 | € 1,355 | € 10,041 | € 61,587 | ▲ € 51,546 |
| Retained profit | € -2,852,347 | € -2,419,309 | € -2,115,755 | € -2,139,117 | ▼ € 23,362 |
| Bank debt | € 2,090,949 | € 2,211,038 | € 1,950,254 | € 949,520 | ▼ 51% |
| Balance sheet total | € 970,902 | € 1,282,691 | € 1,417,432 | € 1,590,961 | ▲ 12% |
| Employees (FTE) | 20.2 | 18.2 | 19.2 | 19.4 | ▲ 0.2 |
Key figures of NORM, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to NORM?
What happened at NORM in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- AVOCAT VAN LEYNSEELE BV stepped down as director. NBB
- CAVM BV stepped down as director. NBB
- INCREMENTUM INVEST BV stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 23,362 (▼ € 326,917 vs 2024). filed late Source: NBB ↗
- INCREMENTUM INVEST BV became a director. NBB
- Magdalena DE ROECK stepped down as director. NBB
- CAVM BV became a director. NBB
- Magdalena DE ROECK became a director. NBB
In short
From € 4,726 loss in 2022 to € 23,362 loss in 2025.
Paid € 500 in corporate taxes since 2022.
Best year ever: 2023, with € 433,037 profit.
Pays suppliers within 73 days on average.
Management
The stake of VAN MARCKE comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
NORMThe shares are held by VAN MARCKE (100%).
Directors
According to the 2025 annual accounts
Director · represented by Patrick VAN LEYNSEELE
Also active at: INTERNATIONAL ROOFING CY, KNOHOPACK, TER DOENAERT, INTERNATIONAL SANITARY WARE - MANUFACTURING CY., Van Marcke Distribution, IMMOBILIERE HERMANT, VAN MARCKE TRADING GROUP, IMMO VM +10 more
since 2001 · until 2027
Managing director · represented by Caroline VAN MARCKE
Also active at: INTERNATIONAL ROOFING CY, KNOHOPACK, TER DOENAERT, Heating Management Services, INTERNATIONAL SANITARY WARE - MANUFACTURING CY., Van Marcke Distribution, IMMOBILIERE HERMANT, VAN MARCKE TRADING GROUP +18 more
since 2021 · until 2027
Magdalena DE ROECK
Director
Also active at: TER DOENAERT, IMMOBILIERE HERMANT, VAN MARCKE PROPERTIES, VM Lijnwaad Comco, Immo Potijzer, VRC IMMO, VAN MARCKE EXCELLENT DISTRIBUTION TO CUSTOMERS
since 2019 · until 2025
Director · represented by Aldric d'OULTREMONT
Also active at: TER DOENAERT, INTERNATIONAL SANITARY WARE - MANUFACTURING CY., ELECWERKEN DE PETTER L., IMMOBILIERE HERMANT, VAN MARCKE TRADING GROUP, IMMO VM, VM Weggevoerdenlaan ComCo, VAN MARCKE +11 more
since 2026 · until 2027
Shareholders
100%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Brugsesteenweg(Kor) 163
8500 Kortrijk
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Website
Technologies
Hosting & Email
Email provider
Microsoft 365
Hosting
AMAZON-02 - Amazon.com, Inc., US
DNS
GoDaddy DNS
Website info
Features
Security
Details
- Company number
- 0425.288.481
- VAT number
- BE 0425.288.481
- Registered office
- Brugsesteenweg(Kor) 163, 8500 Kortrijk
- Names & denominations
- NORM
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 December 1983
- Peppol
- Active · Active since 19 Dec 2025
- Contact
- normnv.be
- Activities · NACE
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