DL NOVA: what changed
Two fiscal 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.
DL NOVA
Largest movements
- Intangible fixed assets -€39,200
down €39,200 (-14.0%), from €279,555 to €240,355
- Receivables within one year +€7,721
up €7,721 (+25.0%), from €30,933 to €38,654
of which Other amounts receivable: +€7,670
- Stocks and contracts -€6,924
down €6,924 (-51.9%), from €13,351 to €6,427
- Tangible fixed assets -€5,874
down €5,874 (-7.3%), from €80,218 to €74,343
of which Plant, machinery and equipment: -€6,937
- Debts after one year -€49,806
down €49,806 (-24.9%), from €199,787 to €149,981
- Other debts +€34,000
up €34,000, from €0 to €34,000
- Trade debts -€26,928
down €26,928 (-57.1%), from €47,176 to €20,249
- Reserves +€26,146
up €26,146 (+20.4%), from €128,011 to €154,157
- Tax, wage and social debts -€26,037
down €26,037 (-39.6%), from €65,802 to €39,765
of which Taxes: -€29,840
- Gross operating margin +€48,251
up €48,251 (+11.5%), from €420,114 to €468,365
- Staff costs +€24,723
up €24,723 (+9.0%), from €274,999 to €299,722
- Depreciation +€7,024
up €7,024 (+11.8%), from €59,733 to €66,757
- Taxes +€5,577
up €5,577 (+42.7%), from €13,058 to €18,635
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.
Cash bridge derived
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 | €511,645 | €471,744 | -€39,900 | -7.8% |
| Fixed assets | 21/28 | €366,023 | €320,948 | -€45,074 | -12.3% |
| Intangible fixed assets | 21 | €279,555 | €240,355 | -€39,200 | -14.0% |
| Tangible fixed assets | 22/27 | €80,218 | €74,343 | -€5,874 | -7.3% |
| Plant, machinery and equipment | 23 | €60,209 | €53,272 | -€6,937 | -11.5% |
| Furniture and vehicles | 24 | €20,009 | €21,072 | +€1,063 | +5.3% |
| Financial fixed assets | 28 | €6,250 | €6,250 | = | 0.0% |
| Current assets | 29/58 | €145,622 | €150,796 | +€5,174 | +3.6% |
| Amounts receivable after more than one year | 29 | €4,300 | €9,388 | +€5,088 | +118.3% |
| Other amounts receivable | 291 | €4,300 | €9,388 | +€5,088 | +118.3% |
| Stocks and contracts in progress | 3 | €13,351 | €6,427 | -€6,924 | -51.9% |
| Stocks | 30/36 | €13,351 | €6,427 | -€6,924 | -51.9% |
| Amounts receivable within one year | 40/41 | €30,933 | €38,654 | +€7,721 | +25.0% |
| Trade receivables | 40 | €10,411 | €10,462 | +€51 | +0.5% |
| Other amounts receivable | 41 | €20,523 | €28,192 | +€7,670 | +37.4% |
| Cash at bank and in hand | 54/58 | €92,388 | €87,420 | -€4,968 | -5.4% |
| Deferred charges and accrued income | 490/1 | €4,650 | €8,907 | +€4,257 | +91.6% |
| Total equity and liabilities | 10/49 | €511,645 | €471,744 | -€39,900 | -7.8% |
| Equity | 10/15 | €138,011 | €164,157 | +€26,146 | +18.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €128,011 | €154,157 | +€26,146 | +20.4% |
| Distributable reserves | 133 | €128,011 | €154,157 | +€26,146 | +20.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €373,633 | €307,587 | -€66,046 | -17.7% |
| Amounts payable after more than one year | 17 | €199,787 | €149,981 | -€49,806 | -24.9% |
| Financial debts | 170/4 | €199,787 | €149,981 | -€49,806 | -24.9% |
| Amounts payable within one year | 42/48 | €173,663 | €157,607 | -€16,056 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €60,685 | €63,594 | +€2,909 | +4.8% |
| Trade debts | 44 | €47,176 | €20,249 | -€26,928 | -57.1% |
| Suppliers | 440/4 | €47,176 | €20,249 | -€26,928 | -57.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €65,802 | €39,765 | -€26,037 | -39.6% |
| Taxes | 450/3 | €42,557 | €12,717 | -€29,840 | -70.1% |
| Remuneration and social security | 454/9 | €23,245 | €27,047 | +€3,803 | +16.4% |
| Other amounts payable | 47/48 | €0 | €34,000 | +€34,000 | |
| Accrued charges and deferred income | 492/3 | €183 | €0 | -€183 | -100.0% |
| Remuneration, social security and pensions | 62 | €274,999 | €299,722 | +€24,723 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,733 | €66,757 | +€7,024 | +11.8% |
| Other operating charges | 640/8 | €12,202 | €10,785 | -€1,417 | -11.6% |
| Non-recurring operating charges | 66A | €7,163 | €2,407 | -€4,756 | -66.4% |
| Gross operating margin | 9900 | €420,114 | €468,365 | +€48,251 | +11.5% |
| Operating profit (loss) | 9901 | €66,016 | €88,693 | +€22,677 | +34.4% |
| Financial income | 75/76B | €141 | €1,331 | +€1,190 | +845.2% |
| Recurring financial income | 75 | €141 | €1,331 | +€1,190 | +845.2% |
| Financial charges | 65/66B | €13,004 | €11,243 | -€1,761 | -13.5% |
| Recurring financial charges | 65 | €13,004 | €11,243 | -€1,761 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €53,153 | €78,781 | +€25,628 | +48.2% |
| Income taxes | 67/77 | €13,058 | €18,635 | +€5,577 | +42.7% |
| Profit (loss) for the period | 9904 | €40,095 | €60,146 | +€20,051 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,095 | €60,146 | +€20,051 | +50.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.