E-NOVAETE: 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.
E-NOVAETE
Largest movements
- Receivables within one year +€25,521
up €25,521 (+53.5%), from €47,745 to €73,266
of which Trade receivables: +€64,640
- Cash -€21,574
down €21,574 (-42.6%), from €50,627 to €29,053
mainly Contributions, distributions and other (-€44,999) and Receivables within one year (-€25,521)
- Tangible fixed assets -€7,285
down €7,285 (-31.8%), from €22,923 to €15,638
of which Furniture and vehicles: -€7,178
- Other debts -€11,218
down €11,218 (-14.3%), from €78,600 to €67,382
- Trade debts +€9,111
up €9,111 (+692.9%), from €1,315 to €10,426
- Tax, wage and social debts -€1,670
down €1,670 (-7.3%), from €23,013 to €21,343
- Gross operating margin -€9,214
down €9,214 (-10.9%), from €84,467 to €75,253
- Taxes -€4,096
down €4,096 (-20.7%), from €19,800 to €15,704
- Financial income -€1,287
no longer reported in 2025 (was €1,287)
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 | €121,810 | €118,517 | -€3,293 | -2.7% |
| Fixed assets | 21/28 | €22,923 | €15,638 | -€7,285 | -31.8% |
| Tangible fixed assets | 22/27 | €22,923 | €15,638 | -€7,285 | -31.8% |
| Plant, machinery and equipment | 23 | €3,007 | €3,145 | +€138 | +4.6% |
| Furniture and vehicles | 24 | €19,671 | €12,493 | -€7,178 | -36.5% |
| Other tangible fixed assets | 26 | €245 | - | -€245 | |
| Current assets | 29/58 | €98,887 | €102,879 | +€3,992 | +4.0% |
| Amounts receivable within one year | 40/41 | €47,745 | €73,266 | +€25,521 | +53.5% |
| Trade receivables | 40 | - | €64,640 | +€64,640 | |
| Other amounts receivable | 41 | €47,745 | €8,626 | -€39,119 | -81.9% |
| Cash at bank and in hand | 54/58 | €50,627 | €29,053 | -€21,574 | -42.6% |
| Deferred charges and accrued income | 490/1 | €515 | €560 | +€45 | +8.7% |
| Total equity and liabilities | 10/49 | €121,810 | €118,517 | -€3,293 | -2.7% |
| Equity | 10/15 | €18,882 | €19,366 | +€484 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €282 | €766 | +€484 | +171.6% |
| Amounts payable | 17/49 | €102,928 | €99,151 | -€3,777 | -3.7% |
| Amounts payable within one year | 42/48 | €102,928 | €99,151 | -€3,777 | -3.7% |
| Trade debts | 44 | €1,315 | €10,426 | +€9,111 | +692.9% |
| Suppliers | 440/4 | €1,315 | €10,426 | +€9,111 | +692.9% |
| Taxes, remuneration and social security | 45 | €23,013 | €21,343 | -€1,670 | -7.3% |
| Taxes | 450/3 | €23,013 | €21,343 | -€1,670 | -7.3% |
| Other amounts payable | 47/48 | €78,600 | €67,382 | -€11,218 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,957 | €8,914 | -€43 | -0.5% |
| Other operating charges | 640/8 | €5,157 | €4,530 | -€627 | -12.2% |
| Non-recurring operating charges | 66A | €1,315 | €433 | -€882 | -67.1% |
| Gross operating margin | 9900 | €84,467 | €75,253 | -€9,214 | -10.9% |
| Operating profit (loss) | 9901 | €69,038 | €61,376 | -€7,662 | -11.1% |
| Financial income | 75/76B | €1,287 | - | -€1,287 | |
| Recurring financial income | 75 | €1,287 | - | -€1,287 | |
| Financial charges | 65/66B | €278 | €189 | -€89 | -32.0% |
| Recurring financial charges | 65 | €278 | €189 | -€89 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €70,047 | €61,187 | -€8,860 | -12.6% |
| Income taxes | 67/77 | €19,800 | €15,704 | -€4,096 | -20.7% |
| Profit (loss) for the period | 9904 | €50,247 | €45,483 | -€4,764 | -9.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,247 | €45,483 | -€4,764 | -9.5% |
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 7 October 2026 via checked.be.