Key 4 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.
Key 4 Nova
Largest movements
- Cash -€52,312
down €52,312 (-59.0%), from €88,621 to €36,310
mainly Debts after one year (-€50,000) and Net result for the year (-€49,962)
- Receivables within one year +€26,387
up €26,387 (+60.7%), from €43,490 to €69,877
- Deferred charges and accrued income -€6,307
down €6,307 (-51.7%), from €12,208 to €5,901
- Intangible fixed assets -€1,936
down €1,936 (-25.0%), from €7,745 to €5,809
- Debts after one year -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Profit (loss) carried forward -€49,962
down €49,962, from €39,026 to -€10,937
- Other debts +€49,550
up €49,550 (+1743.6%), from €2,842 to €52,392
- Tax, wage and social debts +€11,676
up €11,676 (+32.3%), from €36,156 to €47,832
of which Remuneration and social security: +€10,481
- Trade debts +€3,014
up €3,014 (+12.9%), from €23,300 to €26,314
- Staff costs +€94,794
up €94,794 (+103.0%), from €92,008 to €186,802
- Gross operating margin +€40,596
up €40,596 (+36.2%), from €112,166 to €152,762
- Depreciation +€8,358
up €8,358 (+317.4%), from €2,633 to €10,991
- Taxes -€6,649
down €6,649 (-93.1%), from €7,140 to €491
- Financial charges +€1,649
up €1,649 (+83.2%), from €1,982 to €3,631
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 | €157,323 | €121,601 | -€35,722 | -22.7% |
| Fixed assets | 21/28 | €13,004 | €9,513 | -€3,491 | -26.8% |
| Intangible fixed assets | 21 | €7,745 | €5,809 | -€1,936 | -25.0% |
| Tangible fixed assets | 22/27 | €3,159 | €1,604 | -€1,555 | -49.2% |
| Furniture and vehicles | 24 | €3,159 | €1,604 | -€1,555 | -49.2% |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €144,319 | €112,088 | -€32,231 | -22.3% |
| Amounts receivable within one year | 40/41 | €43,490 | €69,877 | +€26,387 | +60.7% |
| Trade receivables | 40 | €43,490 | €69,877 | +€26,387 | +60.7% |
| Cash at bank and in hand | 54/58 | €88,621 | €36,310 | -€52,312 | -59.0% |
| Deferred charges and accrued income | 490/1 | €12,208 | €5,901 | -€6,307 | -51.7% |
| Total equity and liabilities | 10/49 | €157,323 | €121,601 | -€35,722 | -22.7% |
| Equity | 10/15 | €45,026 | -€4,937 | -€49,962 | |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,026 | -€10,937 | -€49,962 | |
| Amounts payable | 17/49 | €112,297 | €126,538 | +€14,240 | +12.7% |
| Amounts payable after more than one year | 17 | €50,000 | €0 | -€50,000 | -100.0% |
| Financial debts | 170/4 | €50,000 | €0 | -€50,000 | -100.0% |
| Amounts payable within one year | 42/48 | €62,297 | €126,538 | +€64,240 | +103.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €23,300 | €26,314 | +€3,014 | +12.9% |
| Suppliers | 440/4 | €23,300 | €26,314 | +€3,014 | +12.9% |
| Taxes, remuneration and social security | 45 | €36,156 | €47,832 | +€11,676 | +32.3% |
| Taxes | 450/3 | €25,438 | €26,633 | +€1,196 | +4.7% |
| Remuneration and social security | 454/9 | €10,718 | €21,199 | +€10,481 | +97.8% |
| Other amounts payable | 47/48 | €2,842 | €52,392 | +€49,550 | +1743.6% |
| Remuneration, social security and pensions | 62 | €92,008 | €186,802 | +€94,794 | +103.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,633 | €10,991 | +€8,358 | +317.4% |
| Other operating charges | 640/8 | €298 | €814 | +€516 | +173.4% |
| Gross operating margin | 9900 | €112,166 | €152,762 | +€40,596 | +36.2% |
| Operating profit (loss) | 9901 | €17,228 | -€45,845 | -€63,073 | |
| Financial income | 75/76B | €22 | €4 | -€18 | -81.5% |
| Recurring financial income | 75 | €22 | €4 | -€18 | -81.5% |
| Financial charges | 65/66B | €1,982 | €3,631 | +€1,649 | +83.2% |
| Recurring financial charges | 65 | €1,982 | €3,631 | +€1,649 | +83.2% |
| Profit (loss) for the period before taxes | 9903 | €15,268 | -€49,471 | -€64,739 | |
| Income taxes | 67/77 | €7,140 | €491 | -€6,649 | -93.1% |
| Profit (loss) for the period | 9904 | €8,128 | -€49,962 | -€58,091 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,128 | -€49,962 | -€58,091 |
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.