NOVA AIR: 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.
NOVA AIR
Largest movements
- Stocks and contracts +€1.6m
up €1.6m (+50.2%), from €3.2m to €4.7m
of which Stocks: +€2.0m
- Deferred charges and accrued income +€299,259
up €299,259 (+183.5%), from €163,040 to €462,299
- Receivables within one year +€205,184
up €205,184 (+494.8%), from €41,469 to €246,653
of which Other amounts receivable: +€154,124
- Cash -€136,541
down €136,541 (-76.3%), from €178,845 to €42,303
mainly Stocks and contracts (-€1.6m) and Deferred charges and accrued income (-€299,259)
- Short-term financial debts +€1.2m
up €1.2m (+97.9%), from €1.2m to €2.4m
of which Credit institutions: +€1.2m
- Reserves +€687,560
up €687,560 (+183.5%), from €374,668 to €1.1m
- Tax, wage and social debts +€153,995
up €153,995 (+85.4%), from €180,420 to €334,416
of which Taxes: +€160,291
- Accrued charges and deferred income +€143,527
up €143,527 (+458.9%), from €31,276 to €174,803
- Trade debts -€100,868
down €100,868 (-27.9%), from €361,094 to €260,226
- Gross operating margin +€711,607
up €711,607 (+92.7%), from €768,012 to €1.5m
- Staff costs +€137,239
up €137,239 (+76.5%), from €179,394 to €316,633
- Taxes +€106,617
up €106,617 (+85.3%), from €124,944 to €231,560
- Financial charges +€93,296
up €93,296 (+114.3%), from €81,612 to €174,908
- Write-downs +€39,835
new in 2025: €39,835
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 | €3,622,968 | €5,624,749 | +€2.0m | +55.3% |
| Fixed assets | 21/28 | €84,838 | €136,420 | +€51,582 | +60.8% |
| Tangible fixed assets | 22/27 | €84,838 | €136,420 | +€51,582 | +60.8% |
| Plant, machinery and equipment | 23 | €84,838 | €109,600 | +€24,761 | +29.2% |
| Other tangible fixed assets | 26 | - | €26,821 | +€26,821 | |
| Current assets | 29/58 | €3,538,130 | €5,488,329 | +€2.0m | +55.1% |
| Stocks and contracts in progress | 3 | €3,154,777 | €4,737,074 | +€1.6m | +50.2% |
| Stocks | 30/36 | €2,607,608 | €4,617,844 | +€2.0m | +77.1% |
| Contracts in progress | 37 | €547,169 | €119,230 | -€427,939 | -78.2% |
| Amounts receivable within one year | 40/41 | €41,469 | €246,653 | +€205,184 | +494.8% |
| Trade receivables | 40 | €41,469 | €92,528 | +€51,060 | +123.1% |
| Other amounts receivable | 41 | €0 | €154,124 | +€154,124 | |
| Cash at bank and in hand | 54/58 | €178,845 | €42,303 | -€136,541 | -76.3% |
| Deferred charges and accrued income | 490/1 | €163,040 | €462,299 | +€299,259 | +183.5% |
| Total equity and liabilities | 10/49 | €3,622,968 | €5,624,749 | +€2.0m | +55.3% |
| Equity | 10/15 | €378,168 | €1,065,728 | +€687,560 | +181.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €374,668 | €1,062,228 | +€687,560 | +183.5% |
| Distributable reserves | 133 | €374,668 | €1,062,228 | +€687,560 | +183.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €3,244,800 | €4,559,021 | +€1.3m | +40.5% |
| Amounts payable within one year | 42/48 | €3,213,524 | €4,384,218 | +€1.2m | +36.4% |
| Financial debts | 43 | €1,200,000 | €2,375,127 | +€1.2m | +97.9% |
| Credit institutions | 430/8 | €1,200,000 | €2,365,000 | +€1.2m | +97.1% |
| Other loans | 439 | - | €10,127 | +€10,127 | |
| Trade debts | 44 | €361,094 | €260,226 | -€100,868 | -27.9% |
| Suppliers | 440/4 | €361,094 | €260,226 | -€100,868 | -27.9% |
| Advances received on contracts in progress | 46 | €81,302 | €103,742 | +€22,440 | +27.6% |
| Taxes, remuneration and social security | 45 | €180,420 | €334,416 | +€153,995 | +85.4% |
| Taxes | 450/3 | €149,353 | €309,644 | +€160,291 | +107.3% |
| Remuneration and social security | 454/9 | €31,067 | €24,771 | -€6,296 | -20.3% |
| Other amounts payable | 47/48 | €1,390,708 | €1,310,708 | -€80,000 | -5.8% |
| Accrued charges and deferred income | 492/3 | €31,276 | €174,803 | +€143,527 | +458.9% |
| Remuneration, social security and pensions | 62 | €179,394 | €316,633 | +€137,239 | +76.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,609 | €23,928 | +€19,319 | +419.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €39,835 | +€39,835 | |
| Other operating charges | 640/8 | €115 | €7,415 | +€7,300 | +6344.3% |
| Gross operating margin | 9900 | €768,012 | €1,479,619 | +€711,607 | +92.7% |
| Operating profit (loss) | 9901 | €583,894 | €1,091,808 | +€507,914 | +87.0% |
| Financial income | 75/76B | €0 | €2,221 | +€2,221 | |
| Recurring financial income | 75 | €0 | €2,221 | +€2,221 | |
| Financial charges | 65/66B | €81,612 | €174,908 | +€93,296 | +114.3% |
| Recurring financial charges | 65 | €81,612 | €174,908 | +€93,296 | +114.3% |
| Profit (loss) for the period before taxes | 9903 | €502,282 | €919,120 | +€416,839 | +83.0% |
| Income taxes | 67/77 | €124,944 | €231,560 | +€106,617 | +85.3% |
| Profit (loss) for the period | 9904 | €377,338 | €687,560 | +€310,222 | +82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €377,338 | €687,560 | +€310,222 | +82.2% |
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 10 October 2026 via checked.be.