Thank you, to both of you.
I just noticed that the second output did not include the code from crt0.o.
When running:
ld -T script.ld -N -s -o 940bin.elf
ld skiped the contents of crt0.s because the code there was marked to go into
the .init section.
So with
[code]
crt0.o(.text) =>...