NOVA RENOV: 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 RENOV
Largest movements
- Stocks and contracts +€403,475
new in 2025: €403,475
- Cash -€79,378
down €79,378 (-90.0%), from €88,209 to €8,831
mainly Stocks and contracts (-€403,475) and Receivables within one year (-€75,288)
- Receivables within one year +€75,288
up €75,288 (+92.2%), from €81,696 to €156,984
of which Trade receivables: +€69,251
- Tangible fixed assets -€7,772
down €7,772 (-38.0%), from €20,426 to €12,654
of which Leasing and similar rights: -€9,165
- Debts after one year +€201,500
up €201,500 (+3,972%), from €5,073 to €206,573
- Current portion of long-term debt +€108,782
up €108,782 (+1,202%), from €9,052 to €117,834
- Profit (loss) carried forward +€69,445
up €69,445 (+53.9%), from €128,887 to €198,332
- Trade debts +€6,105
up €6,105 (+248%), from €2,458 to €8,563
- Gross operating margin +€112,009
up €112,009 (+63.4%), from €176,740 to €288,749
- Other operating charges +€44,603
up €44,603 (+1,515%), from €2,944 to €47,547
- Taxes +€17,697
up €17,697 (+63.5%), from €27,859 to €45,556
- Financial charges +€5,488
up €5,488 (+704%), from €779 to €6,267
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.
Derived cash bridge
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 | €190,330 | €581,944 | +€391,614 | +206% |
| Fixed assets | 21/28 | €20,426 | €12,654 | -€7,772 | -38.0% |
| Tangible fixed assets | 22/27 | €20,426 | €12,654 | -€7,772 | -38.0% |
| Plant, machinery and equipment | 23 | €4,196 | €6,612 | +€2,416 | +57.6% |
| Furniture and vehicles | 24 | €2,381 | €1,359 | -€1,022 | -42.9% |
| Leasing and similar rights | 25 | €13,848 | €4,683 | -€9,165 | -66.2% |
| Current assets | 29/58 | €169,905 | €569,290 | +€399,385 | +235% |
| Stocks and contracts in progress | 3 | - | €403,475 | +€403,475 | |
| Stocks | 30/36 | - | €403,475 | +€403,475 | |
| Amounts receivable within one year | 40/41 | €81,696 | €156,984 | +€75,288 | +92.2% |
| Trade receivables | 40 | €63,847 | €133,098 | +€69,251 | +108% |
| Other amounts receivable | 41 | €17,848 | €23,886 | +€6,038 | +33.8% |
| Cash at bank and in hand | 54/58 | €88,209 | €8,831 | -€79,378 | -90.0% |
| Total equity and liabilities | 10/49 | €190,330 | €581,944 | +€391,614 | +206% |
| Equity | 10/15 | €150,887 | €220,332 | +€69,445 | +46.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €20,000 | +€20,000 | |
| Other | 1109/19 | - | €20,000 | +€20,000 | |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,887 | €198,332 | +€69,445 | +53.9% |
| Amounts payable | 17/49 | €39,444 | €361,612 | +€322,168 | +817% |
| Amounts payable after more than one year | 17 | €5,073 | €206,573 | +€201,500 | +3,972% |
| Financial debts | 170/4 | €5,073 | €206,573 | +€201,500 | +3,972% |
| Amounts payable within one year | 42/48 | €34,371 | €155,039 | +€120,668 | +351% |
| Current portion of amounts payable after more than one year | 42 | €9,052 | €117,834 | +€108,782 | +1,202% |
| Trade debts | 44 | €2,458 | €8,563 | +€6,105 | +248% |
| Suppliers | 440/4 | €2,458 | €8,563 | +€6,105 | +248% |
| Taxes, remuneration and social security | 45 | €22,861 | €28,642 | +€5,781 | +25.3% |
| Taxes | 450/3 | €13,603 | €19,132 | +€5,529 | +40.6% |
| Remuneration and social security | 454/9 | €9,258 | €9,510 | +€252 | +2.7% |
| Remuneration, social security and pensions | 62 | €36,064 | €37,044 | +€980 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,776 | €12,943 | -€1,833 | -12.4% |
| Other operating charges | 640/8 | €2,944 | €47,547 | +€44,603 | +1,515% |
| Gross operating margin | 9900 | €176,740 | €288,749 | +€112,009 | +63.4% |
| Operating profit (loss) | 9901 | €122,957 | €191,215 | +€68,258 | +55.5% |
| Financial income | 75/76B | €567 | €54 | -€513 | -90.5% |
| Recurring financial income | 75 | €567 | €54 | -€513 | -90.5% |
| Financial charges | 65/66B | €779 | €6,267 | +€5,488 | +704% |
| Recurring financial charges | 65 | €779 | €6,267 | +€5,488 | +704% |
| Profit (loss) for the period before taxes | 9903 | €122,744 | €185,002 | +€62,258 | +50.7% |
| Income taxes | 67/77 | €27,859 | €45,556 | +€17,697 | +63.5% |
| Profit (loss) for the period | 9904 | €94,885 | €139,446 | +€44,561 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €94,885 | €139,446 | +€44,561 | +47.0% |
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 25 October 2026 via checked.be.