Nouvel Adem: what changed
What changed
Nouvel Adem
NACE 27.510, Manufacture of electrical equipment
filed annual accounts (NBB)
Net result for the year
€404,825
2024 · -€66,396+€471,221
Equity
€440,088
2024 · €35,264+€404,825
Cash
€50,957
2024 · €4,227+€46,731
Balance sheet total
€1.7m
2024 · €1.7m-€9,880
Largest movements
Assets
- Tangible fixed assets -€293,748
down €293,748 (-52.7%), from €557,240 to €263,492
of which Land and buildings: -€334,167
- Receivables within one year +€186,300
up €186,300 (+20.2%), from €923,159 to €1.1m
of which Trade receivables: +€198,482
- Stocks and contracts +€50,838
up €50,838 (+41.4%), from €122,860 to €173,697
- Cash +€46,731
up €46,731 (+1,106%), from €4,227 to €50,957
mainly Net result for the year (+€404,825) and Investment in fixed assets (net) (+€258,333)
Equity and liabilities
- Reserves +€385,358
up €385,358 (+473%), from €81,390 to €466,748
of which Tax-exempt reserves: +€385,358
- Debts after one year -€240,429
down €240,429 (-87.2%), from €275,650 to €35,221
- Trade debts -€184,170
down €184,170 (-53.9%), from €341,519 to €157,349
- Advances received +€116,855
up €116,855 (+15.6%), from €751,363 to €868,217
- Provisions +€96,339
new in 2025: €96,339
Income statement
- Turnover +€573,584
up €573,584 (+57.9%), from €991,249 to €1.6m
- Purchases and services +€542,577
up €542,577 (+71.5%), from €758,433 to €1.3m
- Financial income +€481,607
up €481,607 (+428,552%), from €112 to €481,719
of which Non-recurring financial income: +€481,697
- Staff costs -€96,222
down €96,222 (-32.9%), from €292,722 to €196,500
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€66,396
Gross operating margin
-€883
Staff costs
+€96,222
Depreciation
+€12,734
Other operating charges
-€9,423
Other operating items
-€10,136
Financial income
+€481,607
Financial charges
-€2,611
Taxes
+€52
Deferred taxes and other
-€96,339
Result 2025
€404,825
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€166,218
Investment
+€258,333
Financing
-€377,821
Cash 2024
€4,227
From operations (derived)
+€166,218
Net result for the year
+€404,825
Depreciation
+€35,414
Stocks and contracts
-€50,838
Receivables within one year
-€186,300
Provisions
+€96,339
Trade debts
-€184,170
Tax, wage and social debts
-€73,317
Advances received
+€116,855
Other debts
+€7,651
Accrued charges and deferred income
-€242
Investment (derived)
+€258,333
Investment in fixed assets (net)
+€258,333
Financing
-€377,821
Debts after one year
-€240,429
Current portion of long-term debt
-€54,850
Short-term financial debts
-€82,542
Cash 2025
€50,957
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,669,978 | €1,660,098 | -€9,880 | -0.6% |
| Fixed assets | 21/28 | €563,303 | €269,555 | -€293,748 | -52.1% |
| Tangible fixed assets | 22/27 | €557,240 | €263,492 | -€293,748 | -52.7% |
| Land and buildings | 22 | €496,937 | €162,770 | -€334,167 | -67.2% |
| Furniture and vehicles | 24 | €41,981 | €45,730 | +€3,749 | +8.9% |
| Leasing and similar rights | 25 | - | €43,224 | +€43,224 | |
| Other tangible fixed assets | 26 | €18,322 | €11,769 | -€6,553 | -35.8% |
| Financial fixed assets | 28 | €6,063 | €6,063 | = | 0.0% |
| Current assets | 29/58 | €1,106,675 | €1,390,543 | +€283,868 | +25.7% |
| Stocks and contracts in progress | 3 | €122,860 | €173,697 | +€50,838 | +41.4% |
| Stocks | 30/36 | €122,860 | €173,697 | +€50,838 | +41.4% |
| Amounts receivable within one year | 40/41 | €923,159 | €1,109,459 | +€186,300 | +20.2% |
| Trade receivables | 40 | €900,385 | €1,098,868 | +€198,482 | +22.0% |
| Other amounts receivable | 41 | €22,773 | €10,591 | -€12,183 | -53.5% |
| Current investments | 50/53 | €56,430 | €56,430 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €4,227 | €50,957 | +€46,731 | +1,106% |
| Total equity and liabilities | 10/49 | €1,669,978 | €1,660,098 | -€9,880 | -0.6% |
| Equity | 10/15 | €35,264 | €440,088 | +€404,825 | +1,148% |
| Contributions | 10/11 | €62,099 | €62,099 | = | 0.0% |
| Capital | 10 | €62,099 | €62,099 | = | 0.0% |
| Issued capital | 100 | €62,099 | €62,099 | = | 0.0% |
| Reserves | 13 | €81,390 | €466,748 | +€385,358 | +473% |
| Non-distributable reserves | 130/1 | €6,210 | €6,210 | = | 0.0% |
| Legal reserve | 130 | €6,210 | €6,210 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €404,108 | +€385,358 | +2,055% |
| Distributable reserves | 133 | €56,430 | €56,430 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€108,226 | -€88,758 | +€19,467 | +18.0% |
| Provisions and deferred taxes | 16 | - | €96,339 | +€96,339 | |
| Deferred taxes | 168 | - | €96,339 | +€96,339 | |
| Amounts payable | 17/49 | €1,634,714 | €1,123,670 | -€511,044 | -31.3% |
| Amounts payable after more than one year | 17 | €275,650 | €35,221 | -€240,429 | -87.2% |
| Financial debts | 170/4 | €275,650 | €35,221 | -€240,429 | -87.2% |
| Amounts payable within one year | 42/48 | €1,358,822 | €1,088,449 | -€270,374 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €67,261 | €12,411 | -€54,850 | -81.5% |
| Financial debts | 43 | €82,542 | €0 | -€82,542 | -100% |
| Credit institutions | 430/8 | €82,542 | €0 | -€82,542 | -100% |
| Trade debts | 44 | €341,519 | €157,349 | -€184,170 | -53.9% |
| Suppliers | 440/4 | €341,519 | €157,349 | -€184,170 | -53.9% |
| Advances received on contracts in progress | 46 | €751,363 | €868,217 | +€116,855 | +15.6% |
| Taxes, remuneration and social security | 45 | €116,137 | €42,820 | -€73,317 | -63.1% |
| Taxes | 450/3 | €31,847 | €30,507 | -€1,340 | -4.2% |
| Remuneration and social security | 454/9 | €84,290 | €12,313 | -€71,976 | -85.4% |
| Other amounts payable | 47/48 | - | €7,651 | +€7,651 | |
| Accrued charges and deferred income | 492/3 | €242 | €0 | -€242 | -100% |
| Turnover | 70 | €991,249 | €1,564,833 | +€573,584 | +57.9% |
| Non-recurring operating income | 76A | €22,566 | €0 | -€22,566 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €758,433 | €1,301,010 | +€542,577 | +71.5% |
| Remuneration, social security and pensions | 62 | €292,722 | €196,500 | -€96,222 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,148 | €35,414 | -€12,734 | -26.4% |
| Other operating charges | 640/8 | €8,113 | €17,537 | +€9,423 | +116% |
| Non-recurring operating charges | 66A | €17 | €10,153 | +€10,136 | +60,697% |
| Gross operating margin | 9900 | €312,049 | €311,166 | -€883 | -0.3% |
| Operating profit (loss) | 9901 | -€36,951 | €51,562 | +€88,513 | |
| Financial income | 75/76B | €112 | €481,719 | +€481,607 | +428,552% |
| Recurring financial income | 75 | €112 | €22 | -€90 | -80.3% |
| Non-recurring financial income | 76B | - | €481,697 | +€481,697 | |
| Financial charges | 65/66B | €28,782 | €31,393 | +€2,611 | +9.1% |
| Recurring financial charges | 65 | €28,782 | €31,393 | +€2,611 | +9.1% |
| Profit (loss) for the period before taxes | 9903 | -€65,620 | €501,888 | +€567,509 | |
| Transfer to deferred taxes | 680 | - | €96,339 | +€96,339 | |
| Income taxes | 67/77 | €776 | €724 | -€52 | -6.6% |
| Profit (loss) for the period | 9904 | -€66,396 | €404,825 | +€471,221 | |
| Transfer to tax-exempt reserves | 689 | - | €385,358 | +€385,358 | |
| Profit (loss) for the period to be appropriated | 9905 | -€66,396 | €19,467 | +€85,863 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.