BNOVA: 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.
BNOVA
Largest movements
- Receivables within one year +€119,552
up €119,552 (+72.2%), from €165,532 to €285,084
of which Trade receivables: +€137,102
- Tangible fixed assets -€87,569
down €87,569 (-10.6%), from €823,697 to €736,128
of which Plant, machinery and equipment: -€56,272
- Cash +€50,710
up €50,710 (+748%), from €6,780 to €57,489
mainly Depreciation (+€230,743) and Debts after one year (+€211,114)
- Stocks and contracts -€16,167
down €16,167 (-18.1%), from €89,552 to €73,385
- Debts after one year +€211,114
up €211,114 (+57.5%), from €367,012 to €578,125
- Trade debts +€135,046
up €135,046 (+116%), from €116,073 to €251,119
- Other debts -€84,293
no longer reported in 2022 (was €84,293)
- Short-term financial debts -€70,000
no longer reported in 2022 (was €70,000)
- Investment grants -€61,908
down €61,908 (-22.4%), from €275,838 to €213,931
- Gross operating margin +€38,760
up €38,760 (+24.4%), from €159,156 to €197,917
- Financial income -€19,195
down €19,195 (-21.7%), from €88,535 to €69,340
of which Financial income: -€19,195
- Depreciation -€13,735
down €13,735 (-5.6%), from €244,478 to €230,743
- Financial charges -€10,866
down €10,866 (-35.6%), from €30,552 to €19,686
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,366,471 | €1,452,119 | +€85,647 | +6.3% |
| Fixed assets | 21/28 | €1,104,461 | €1,030,083 | -€74,378 | -6.7% |
| Intangible fixed assets | 21 | €280,764 | €293,955 | +€13,191 | +4.7% |
| Tangible fixed assets | 22/27 | €823,697 | €736,128 | -€87,569 | -10.6% |
| Plant, machinery and equipment | 23 | €630,653 | €574,381 | -€56,272 | -8.9% |
| Leasing and similar rights | 25 | €192,670 | €161,497 | -€31,173 | -16.2% |
| Other tangible fixed assets | 26 | €374 | €249 | -€125 | -33.3% |
| Current assets | 29/58 | €262,011 | €422,036 | +€160,025 | +61.1% |
| Stocks and contracts in progress | 3 | €89,552 | €73,385 | -€16,167 | -18.1% |
| Stocks | 30/36 | €89,552 | €73,385 | -€16,167 | -18.1% |
| Amounts receivable within one year | 40/41 | €165,532 | €285,084 | +€119,552 | +72.2% |
| Trade receivables | 40 | €137,628 | €274,731 | +€137,102 | +99.6% |
| Other amounts receivable | 41 | €27,903 | €10,353 | -€17,550 | -62.9% |
| Cash at bank and in hand | 54/58 | €6,780 | €57,489 | +€50,710 | +748% |
| Deferred charges and accrued income | 490/1 | €148 | €6,078 | +€5,930 | +4,017% |
| Total equity and liabilities | 10/49 | €1,366,471 | €1,452,119 | +€85,647 | +6.3% |
| Equity | 10/15 | €498,640 | €450,147 | -€48,493 | -9.7% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €38,503 | €38,503 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,503 | €8,503 | = | 0.0% |
| Legal reserve | 130 | €8,503 | €8,503 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,298 | €17,713 | +€13,414 | +312% |
| Investment grants | 15 | €275,838 | €213,931 | -€61,908 | -22.4% |
| Amounts payable | 17/49 | €867,831 | €1,001,972 | +€134,141 | +15.5% |
| Amounts payable after more than one year | 17 | €367,012 | €578,125 | +€211,114 | +57.5% |
| Financial debts | 170/4 | €367,012 | €578,125 | +€211,114 | +57.5% |
| Amounts payable within one year | 42/48 | €497,320 | €423,847 | -€73,473 | -14.8% |
| Current portion of amounts payable after more than one year | 42 | €208,659 | €158,872 | -€49,787 | -23.9% |
| Financial debts | 43 | €70,000 | - | -€70,000 | |
| Credit institutions | 430/8 | €70,000 | - | -€70,000 | |
| Trade debts | 44 | €116,073 | €251,119 | +€135,046 | +116% |
| Suppliers | 440/4 | €116,073 | €251,119 | +€135,046 | +116% |
| Taxes, remuneration and social security | 45 | €18,295 | €13,855 | -€4,439 | -24.3% |
| Taxes | 450/3 | €18,295 | €13,855 | -€4,439 | -24.3% |
| Other amounts payable | 47/48 | €84,293 | - | -€84,293 | |
| Accrued charges and deferred income | 492/3 | €3,500 | - | -€3,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €244,478 | €230,743 | -€13,735 | -5.6% |
| Other operating charges | 640/8 | €5,365 | €3,413 | -€1,952 | -36.4% |
| Gross operating margin | 9900 | €159,156 | €197,917 | +€38,760 | +24.4% |
| Operating profit (loss) | 9901 | -€90,686 | -€36,240 | +€54,447 | +60.0% |
| Financial income | 75/76B | €88,535 | €69,340 | -€19,195 | -21.7% |
| Recurring financial income | 75 | €88,535 | €69,340 | -€19,195 | -21.7% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €30,552 | €19,686 | -€10,866 | -35.6% |
| Recurring financial charges | 65 | €30,552 | €19,686 | -€10,866 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | -€32,703 | €13,414 | +€46,118 | |
| Income taxes | 67/77 | -€439 | - | +€439 | |
| Profit (loss) for the period | 9904 | -€32,265 | €13,414 | +€45,679 | |
| Profit (loss) for the period to be appropriated | 9905 | -€32,265 | €13,414 | +€45,679 |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.