NOUV'EAU: 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.
What changed
NOUV'EAU
NACE 43.990, Other specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€43,205
2024 · -€97,716+€54,510
Equity
€305,389
2024 · €498,594-€193,205
Cash
€2,570
2024 · €4,902-€2,332
Balance sheet total
€1.4m
2024 · €1.6m-€133,936
Largest movements
Assets
- Tangible fixed assets -€147,460
down €147,460 (-16.1%), from €913,194 to €765,735
of which Furniture and vehicles: -€91,501
Equity and liabilities
- Reserves -€250,000
down €250,000 (-49.3%), from €506,855 to €256,855
of which Distributable reserves: -€250,000
- Other debts +€150,796
up €150,796 (+3460.7%), from €4,357 to €155,153
- Advances received -€62,944
down €62,944 (-54.7%), from €115,118 to €52,174
- Profit (loss) carried forward +€56,795
up €56,795 (+73.9%), from -€76,811 to -€20,016
- Debts after one year -€40,153
down €40,153 (-7.8%), from €513,217 to €473,063
Income statement
- Depreciation -€31,105
down €31,105 (-33.2%), from €93,745 to €62,640
- Gross operating margin +€30,586
up €30,586 (+39.2%), from €77,956 to €108,542
- Staff costs +€12,054
up €12,054 (+32.6%), from €37,028 to €49,082
- Write-downs -€8,914
no longer reported in 2025 (was €8,914)
- Taxes +€4,014
up €4,014 (+247.7%), from €1,620 to €5,634
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.
Result 2024
-€97,716
Gross operating margin
+€30,586
Staff costs
-€12,054
Depreciation
+€31,105
Write-downs
+€8,914
Other operating charges
-€833
Other operating items
+€1,420
Financial income
-€1,220
Financial charges
+€606
Taxes
-€4,014
Result 2025
-€43,205
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.
From operations
+€118,410
Investment
+€84,428
Financing
-€205,170
Cash 2024
€4,902
From operations (derived)
+€118,410
Net result for the year
-€43,205
Depreciation
+€62,640
Stocks and contracts
-€485
Receivables within one year
-€11,230
Deferred charges and accrued income
-€3,749
Trade debts
+€30,010
Tax, wage and social debts
-€5,503
Advances received
-€62,944
Other debts
+€150,796
Accrued charges and deferred income
+€2,082
Investment (derived)
+€84,428
Investment in fixed assets (net)
+€84,428
Financing
-€205,170
Debts after one year
-€40,153
Current portion of long-term debt
-€15,017
Contributions, distributions and other
-€150,000
Cash 2025
€2,570
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,552,967 | €1,419,031 | -€133,936 | -8.6% |
| Fixed assets | 21/28 | €923,651 | €776,583 | -€147,068 | -15.9% |
| Tangible fixed assets | 22/27 | €913,194 | €765,735 | -€147,460 | -16.1% |
| Land and buildings | 22 | €817,512 | €760,447 | -€57,065 | -7.0% |
| Plant, machinery and equipment | 23 | €2,630 | €3,736 | +€1,107 | +42.1% |
| Furniture and vehicles | 24 | €93,053 | €1,551 | -€91,501 | -98.3% |
| Financial fixed assets | 28 | €10,457 | €10,848 | +€392 | +3.7% |
| Current assets | 29/58 | €629,316 | €642,448 | +€13,132 | +2.1% |
| Amounts receivable after more than one year | 29 | €137,350 | €137,350 | = | 0.0% |
| Trade receivables | 290 | €137,350 | €137,350 | = | 0.0% |
| Stocks and contracts in progress | 3 | €78,804 | €79,289 | +€485 | +0.6% |
| Stocks | 30/36 | €60,748 | €67,698 | +€6,950 | +11.4% |
| Contracts in progress | 37 | €18,056 | €11,591 | -€6,465 | -35.8% |
| Amounts receivable within one year | 40/41 | €406,292 | €417,521 | +€11,230 | +2.8% |
| Trade receivables | 40 | €31,031 | €46,947 | +€15,917 | +51.3% |
| Other amounts receivable | 41 | €375,261 | €370,574 | -€4,687 | -1.2% |
| Cash at bank and in hand | 54/58 | €4,902 | €2,570 | -€2,332 | -47.6% |
| Deferred charges and accrued income | 490/1 | €1,969 | €5,717 | +€3,749 | +190.4% |
| Total equity and liabilities | 10/49 | €1,552,967 | €1,419,031 | -€133,936 | -8.6% |
| Equity | 10/15 | €498,594 | €305,389 | -€193,205 | -38.8% |
| Contributions | 10/11 | €68,550 | €68,550 | = | 0.0% |
| Reserves | 13 | €506,855 | €256,855 | -€250,000 | -49.3% |
| Non-distributable reserves | 130/1 | €6,855 | €6,855 | = | 0.0% |
| Other | 1319 | €6,855 | €6,855 | = | 0.0% |
| Distributable reserves | 133 | €500,000 | €250,000 | -€250,000 | -50.0% |
| Profit (loss) carried forward | 14 | -€76,811 | -€20,016 | +€56,795 | +73.9% |
| Amounts payable | 17/49 | €1,054,373 | €1,113,642 | +€59,269 | +5.6% |
| Amounts payable after more than one year | 17 | €513,217 | €473,063 | -€40,153 | -7.8% |
| Financial debts | 170/4 | €513,217 | €473,063 | -€40,153 | -7.8% |
| Amounts payable within one year | 42/48 | €540,730 | €638,071 | +€97,341 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | €60,869 | €45,852 | -€15,017 | -24.7% |
| Financial debts | 43 | €200,000 | €200,000 | = | 0.0% |
| Credit institutions | 430/8 | €200,000 | €200,000 | = | 0.0% |
| Trade debts | 44 | €154,882 | €184,892 | +€30,010 | +19.4% |
| Suppliers | 440/4 | €154,882 | €184,892 | +€30,010 | +19.4% |
| Advances received on contracts in progress | 46 | €115,118 | €52,174 | -€62,944 | -54.7% |
| Taxes, remuneration and social security | 45 | €5,503 | - | -€5,503 | |
| Taxes | 450/3 | €4,949 | - | -€4,949 | |
| Remuneration and social security | 454/9 | €554 | - | -€554 | |
| Other amounts payable | 47/48 | €4,357 | €155,153 | +€150,796 | +3460.7% |
| Accrued charges and deferred income | 492/3 | €427 | €2,508 | +€2,082 | +488.0% |
| Remuneration, social security and pensions | 62 | €37,028 | €49,082 | +€12,054 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €93,745 | €62,640 | -€31,105 | -33.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,914 | - | -€8,914 | |
| Other operating charges | 640/8 | €4,251 | €5,084 | +€833 | +19.6% |
| Non-recurring operating charges | 66A | €1,517 | €97 | -€1,420 | -93.6% |
| Gross operating margin | 9900 | €77,956 | €108,542 | +€30,586 | +39.2% |
| Operating profit (loss) | 9901 | -€67,498 | -€8,361 | +€59,138 | +87.6% |
| Financial income | 75/76B | €4,875 | €3,655 | -€1,220 | -25.0% |
| Recurring financial income | 75 | €4,875 | €3,655 | -€1,220 | -25.0% |
| Financial charges | 65/66B | €33,472 | €32,865 | -€606 | -1.8% |
| Recurring financial charges | 65 | €33,472 | €32,865 | -€606 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | -€96,095 | -€37,571 | +€58,524 | +60.9% |
| Income taxes | 67/77 | €1,620 | €5,634 | +€4,014 | +247.7% |
| Profit (loss) for the period | 9904 | -€97,716 | -€43,205 | +€54,510 | +55.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€97,716 | -€43,205 | +€54,510 | +55.8% |
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.