NORTH Melbourne has proven wins don't mean everything when it comes to the bottom line, posting a modest net profit.

A return of $242,656 makes for the Kangaroos ninth profit in the past decade.

The pokies-free club has detailed an operating surplus of $633,625 and an increase in year-on-year revenue of $1.2 million to $39.7 million.

The result comes despite the Kangaroos 15th place finish with just six wins for the season.

"For perhaps the first time in our club's recent history, the business has been able to absorb a much softer year on the field, which impacts areas such as consumer business and membership, and has been able to come out the other side in really good shape," CEO Carl Dilena said in a statement. 

"All North members, contributors and partners should be proud of what we've achieved as a club continually over the past decade, because the level of stability and strength we have maintained to this point is largely due to their ongoing support and loyalty."

The club has also paid down its debt by another $400,000.

"To have that once heavy weight lifted and very manageable at around $850k, is really an outstanding effort in such a short amount of time," Dilena said.

North's debt had been higher than $8 million as recently as 2011.

With its second home secure in Tasmania, the club that once came close to being shipped to the Gold Coast is now focused on growth.

"The introduction of a VFL side in 2018 and AFLW side in 2019 will provide us with opportunities to grow our supporter base and business, but also comes with associated risks that we must guard against with continued responsible management and hard work," Dilena said.