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.
NOVA
Largest movements
- Receivables within one year -€188,125
down €188,125 (-94.2%), from €199,667 to €11,542
of which Other amounts receivable: -€147,987
- Tangible fixed assets +€60,746
up €60,746 (+2.8%), from €2.1m to €2.2m
of which Land and buildings: +€45,139
- Cash -€49,085
down €49,085 (-82.1%), from €59,801 to €10,716
mainly Investment in fixed assets (net) (-€190,625) and Other debts (-€154,502)
- Other debts -€154,502
down €154,502 (-17.7%), from €874,974 to €720,473
- Debts after one year -€150,922
down €150,922 (-12.5%), from €1.2m to €1.1m
- Advances received +€108,018
up €108,018 (+901.5%), from €11,982 to €120,000
- Profit (loss) carried forward +€56,808
up €56,808 (+74.9%), from €75,816 to €132,623
- Trade debts -€39,600
down €39,600 (-92.7%), from €42,710 to €3,110
- Gross operating margin +€17,573
up €17,573 (+7.3%), from €239,602 to €257,175
- Taxes +€5,331
up €5,331 (+80.4%), from €6,632 to €11,963
- Depreciation -€3,975
down €3,975 (-3.0%), from €133,854 to €129,879
- Financial charges -€3,423
down €3,423 (-6.7%), from €51,162 to €47,739
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 | €2,397,089 | €2,218,586 | -€178,503 | -7.4% |
| Fixed assets | 21/28 | €2,134,246 | €2,194,991 | +€60,746 | +2.8% |
| Tangible fixed assets | 22/27 | €2,134,246 | €2,194,991 | +€60,746 | +2.8% |
| Land and buildings | 22 | €2,068,043 | €2,113,181 | +€45,139 | +2.2% |
| Plant, machinery and equipment | 23 | €1,687 | €1,292 | -€395 | -23.4% |
| Furniture and vehicles | 24 | €64,516 | €80,518 | +€16,002 | +24.8% |
| Current assets | 29/58 | €262,843 | €23,595 | -€239,248 | -91.0% |
| Amounts receivable within one year | 40/41 | €199,667 | €11,542 | -€188,125 | -94.2% |
| Trade receivables | 40 | €50,180 | €10,042 | -€40,138 | -80.0% |
| Other amounts receivable | 41 | €149,487 | €1,500 | -€147,987 | -99.0% |
| Cash at bank and in hand | 54/58 | €59,801 | €10,716 | -€49,085 | -82.1% |
| Deferred charges and accrued income | 490/1 | €3,375 | €1,337 | -€2,038 | -60.4% |
| Total equity and liabilities | 10/49 | €2,397,089 | €2,218,586 | -€178,503 | -7.4% |
| Equity | 10/15 | €178,332 | €235,139 | +€56,808 | +31.9% |
| Contributions | 10/11 | €93,196 | €93,196 | = | 0.0% |
| Reserves | 13 | €9,320 | €9,320 | = | 0.0% |
| Distributable reserves | 133 | €9,320 | €9,320 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,816 | €132,623 | +€56,808 | +74.9% |
| Amounts payable | 17/49 | €2,218,757 | €1,983,447 | -€235,310 | -10.6% |
| Amounts payable after more than one year | 17 | €1,204,561 | €1,053,639 | -€150,922 | -12.5% |
| Financial debts | 170/4 | €1,204,561 | €1,053,639 | -€150,922 | -12.5% |
| Amounts payable within one year | 42/48 | €1,007,349 | €926,715 | -€80,633 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €69,140 | €71,523 | +€2,383 | +3.4% |
| Trade debts | 44 | €42,710 | €3,110 | -€39,600 | -92.7% |
| Suppliers | 440/4 | €42,710 | €3,110 | -€39,600 | -92.7% |
| Advances received on contracts in progress | 46 | €11,982 | €120,000 | +€108,018 | +901.5% |
| Taxes, remuneration and social security | 45 | €8,543 | €11,610 | +€3,068 | +35.9% |
| Taxes | 450/3 | €8,543 | €11,610 | +€3,068 | +35.9% |
| Other amounts payable | 47/48 | €874,974 | €720,473 | -€154,502 | -17.7% |
| Accrued charges and deferred income | 492/3 | €6,847 | €3,092 | -€3,755 | -54.8% |
| Non-recurring operating income | 76A | - | €10,856 | +€10,856 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,854 | €129,879 | -€3,975 | -3.0% |
| Other operating charges | 640/8 | €9,476 | €10,808 | +€1,332 | +14.1% |
| Non-recurring operating charges | 66A | €4,764 | €0 | -€4,764 | -100.0% |
| Gross operating margin | 9900 | €239,602 | €257,175 | +€17,573 | +7.3% |
| Operating profit (loss) | 9901 | €91,508 | €116,488 | +€24,980 | +27.3% |
| Financial income | 75/76B | €64 | €22 | -€42 | -65.7% |
| Recurring financial income | 75 | €64 | €22 | -€42 | -65.7% |
| Financial charges | 65/66B | €51,162 | €47,739 | -€3,423 | -6.7% |
| Recurring financial charges | 65 | €51,162 | €47,739 | -€3,423 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €40,410 | €68,771 | +€28,360 | +70.2% |
| Income taxes | 67/77 | €6,632 | €11,963 | +€5,331 | +80.4% |
| Profit (loss) for the period | 9904 | €33,778 | €56,808 | +€23,030 | +68.2% |
| Profit (loss) for the period to be appropriated | 9905 | €33,778 | €56,808 | +€23,030 | +68.2% |
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 4 October 2026 via checked.be.