NOV & CONSTRUCT: what changed
Two financial 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.
NOV & CONSTRUCT
Largest movements
- Cash +€51,116
up €51,116 (+204.4%), from €25,010 to €76,127
mainly Net result for the year (+€37,867) and Tax, wage and social debts (+€33,289)
- Tangible fixed assets -€11,616
down €11,616 (-43.9%), from €26,432 to €14,816
of which Plant, machinery and equipment: -€6,402
- Receivables within one year +€11,416
up €11,416 (+10.8%), from €106,029 to €117,445
of which Trade receivables: +€10,666
- Stocks and contracts +€7,299
new in 2025: €7,299
- Reserves +€37,867
up €37,867 (+3111.5%), from €1,217 to €39,084
- Tax, wage and social debts +€33,289
up €33,289 (+1101.6%), from €3,022 to €36,311
- Other debts -€31,800
down €31,800 (-87.4%), from €36,392 to €4,593
- Trade debts +€18,868
up €18,868 (+17.1%), from €110,373 to €129,241
- Gross operating margin +€56,952
up €56,952 (+409.9%), from €13,894 to €70,846
- Taxes +€19,641
up €19,641 (+1571.5%), from €1,250 to €20,891
- Other operating charges +€1,392
up €1,392 (+357.3%), from €390 to €1,782
- Depreciation +€1,016
up €1,016 (+11.0%), from €9,218 to €10,234
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 | €157,942 | €216,167 | +€58,225 | +36.9% |
| Fixed assets | 21/28 | €26,842 | €15,226 | -€11,616 | -43.3% |
| Tangible fixed assets | 22/27 | €26,432 | €14,816 | -€11,616 | -43.9% |
| Plant, machinery and equipment | 23 | €13,907 | €7,505 | -€6,402 | -46.0% |
| Furniture and vehicles | 24 | €12,525 | €7,311 | -€5,214 | -41.6% |
| Financial fixed assets | 28 | €410 | €410 | = | 0.0% |
| Current assets | 29/58 | €131,100 | €200,941 | +€69,841 | +53.3% |
| Stocks and contracts in progress | 3 | - | €7,299 | +€7,299 | |
| Contracts in progress | 37 | - | €7,299 | +€7,299 | |
| Amounts receivable within one year | 40/41 | €106,029 | €117,445 | +€11,416 | +10.8% |
| Trade receivables | 40 | €106,029 | €116,695 | +€10,666 | +10.1% |
| Other amounts receivable | 41 | - | €750 | +€750 | |
| Cash at bank and in hand | 54/58 | €25,010 | €76,127 | +€51,116 | +204.4% |
| Deferred charges and accrued income | 490/1 | €61 | €71 | +€10 | +16.4% |
| Total equity and liabilities | 10/49 | €157,942 | €216,167 | +€58,225 | +36.9% |
| Equity | 10/15 | €8,155 | €46,022 | +€37,867 | +464.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,217 | €39,084 | +€37,867 | +3111.5% |
| Distributable reserves | 133 | €1,217 | €39,084 | +€37,867 | +3111.5% |
| Profit (loss) carried forward | 14 | €738 | €738 | = | 0.0% |
| Amounts payable | 17/49 | €149,787 | €170,145 | +€20,358 | +13.6% |
| Amounts payable within one year | 42/48 | €149,787 | €170,145 | +€20,358 | +13.6% |
| Trade debts | 44 | €110,373 | €129,241 | +€18,868 | +17.1% |
| Suppliers | 440/4 | €110,373 | €129,241 | +€18,868 | +17.1% |
| Taxes, remuneration and social security | 45 | €3,022 | €36,311 | +€33,289 | +1101.6% |
| Taxes | 450/3 | €3,022 | €36,311 | +€33,289 | +1101.6% |
| Other amounts payable | 47/48 | €36,392 | €4,593 | -€31,800 | -87.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,218 | €10,234 | +€1,016 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €500 | €0 | -€500 | -100.0% |
| Other operating charges | 640/8 | €390 | €1,782 | +€1,392 | +357.3% |
| Non-recurring operating charges | 66A | €2,278 | €0 | -€2,278 | -100.0% |
| Gross operating margin | 9900 | €13,894 | €70,846 | +€56,952 | +409.9% |
| Operating profit (loss) | 9901 | €1,509 | €58,830 | +€57,322 | +3799.7% |
| Financial income | 75/76B | €410 | €0 | -€410 | -100.0% |
| Recurring financial income | 75 | €410 | €0 | -€410 | -100.0% |
| Financial charges | 65/66B | €75 | €72 | -€3 | -3.6% |
| Recurring financial charges | 65 | €75 | €72 | -€3 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €1,843 | €58,758 | +€56,915 | +3087.9% |
| Income taxes | 67/77 | €1,250 | €20,891 | +€19,641 | +1571.5% |
| Profit (loss) for the period | 9904 | €593 | €37,867 | +€37,274 | +6282.0% |
| Profit (loss) for the period to be appropriated | 9905 | €593 | €37,867 | +€37,274 | +6282.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.