NOVABLE: 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.
NOVABLE
Largest movements
- Cash -€105,944
down €105,944 (-64.5%), from €164,149 to €58,205
mainly Investment in fixed assets (net) (-€166,490) and Net result for the year (-€166,129)
- Receivables within one year -€21,357
down €21,357 (-9.3%), from €229,774 to €208,417
of which Trade receivables: -€19,242
- Profit (loss) carried forward -€166,129
down €166,129 (-185.5%), from -€89,538 to -€255,667
- Debts after one year +€141,131
up €141,131 (+85.1%), from €165,745 to €306,876
- Current portion of long-term debt -€72,243
down €72,243 (-41.6%), from €173,717 to €101,474
- Tax, wage and social debts -€16,134
down €16,134 (-25.6%), from €63,126 to €46,992
of which Remuneration and social security: -€15,760
- Short-term financial debts -€10,135
down €10,135 (-91.7%), from €11,048 to €912
- Staff costs +€59,126
up €59,126 (+17.6%), from €335,118 to €394,245
- Depreciation +€26,406
up €26,406 (+18.2%), from €145,131 to €171,537
- Gross operating margin +€5,434
up €5,434 (+1.3%), from €413,221 to €418,655
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 | €917,291 | €785,842 | -€131,449 | -14.3% |
| Fixed assets | 21/28 | €517,243 | €512,196 | -€5,047 | -1.0% |
| Intangible fixed assets | 21 | €514,370 | €510,109 | -€4,260 | -0.8% |
| Tangible fixed assets | 22/27 | €2,873 | €2,086 | -€787 | -27.4% |
| Furniture and vehicles | 24 | €2,873 | €2,086 | -€787 | -27.4% |
| Current assets | 29/58 | €400,048 | €273,646 | -€126,402 | -31.6% |
| Amounts receivable within one year | 40/41 | €229,774 | €208,417 | -€21,357 | -9.3% |
| Trade receivables | 40 | €218,699 | €199,457 | -€19,242 | -8.8% |
| Other amounts receivable | 41 | €11,076 | €8,961 | -€2,115 | -19.1% |
| Cash at bank and in hand | 54/58 | €164,149 | €58,205 | -€105,944 | -64.5% |
| Deferred charges and accrued income | 490/1 | €6,125 | €7,024 | +€899 | +14.7% |
| Total equity and liabilities | 10/49 | €917,291 | €785,842 | -€131,449 | -14.3% |
| Equity | 10/15 | €430,875 | €264,747 | -€166,129 | -38.6% |
| Contributions | 10/11 | €520,413 | €520,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€89,538 | -€255,667 | -€166,129 | -185.5% |
| Amounts payable | 17/49 | €486,416 | €521,095 | +€34,679 | +7.1% |
| Amounts payable after more than one year | 17 | €165,745 | €306,876 | +€141,131 | +85.1% |
| Financial debts | 170/4 | €165,745 | €306,876 | +€141,131 | +85.1% |
| Amounts payable within one year | 42/48 | €318,407 | €213,688 | -€104,720 | -32.9% |
| Current portion of amounts payable after more than one year | 42 | €173,717 | €101,474 | -€72,243 | -41.6% |
| Financial debts | 43 | €11,048 | €912 | -€10,135 | -91.7% |
| Credit institutions | 430/8 | €11,048 | €912 | -€10,135 | -91.7% |
| Trade debts | 44 | €70,384 | €64,304 | -€6,080 | -8.6% |
| Suppliers | 440/4 | €70,384 | €64,304 | -€6,080 | -8.6% |
| Taxes, remuneration and social security | 45 | €63,126 | €46,992 | -€16,134 | -25.6% |
| Taxes | 450/3 | €550 | €176 | -€374 | -68.0% |
| Remuneration and social security | 454/9 | €62,575 | €46,816 | -€15,760 | -25.2% |
| Other amounts payable | 47/48 | €133 | €6 | -€127 | -95.8% |
| Accrued charges and deferred income | 492/3 | €2,264 | €532 | -€1,732 | -76.5% |
| Remuneration, social security and pensions | 62 | €335,118 | €394,245 | +€59,126 | +17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,131 | €171,537 | +€26,406 | +18.2% |
| Other operating charges | 640/8 | €1,389 | €998 | -€391 | -28.1% |
| Gross operating margin | 9900 | €413,221 | €418,655 | +€5,434 | +1.3% |
| Operating profit (loss) | 9901 | -€68,418 | -€148,125 | -€79,707 | -116.5% |
| Financial income | 75/76B | €325 | €100 | -€226 | -69.4% |
| Recurring financial income | 75 | €325 | €100 | -€226 | -69.4% |
| Financial charges | 65/66B | €21,192 | €17,927 | -€3,265 | -15.4% |
| Recurring financial charges | 65 | €21,192 | €17,927 | -€3,265 | -15.4% |
| Profit (loss) for the period before taxes | 9903 | -€89,285 | -€165,952 | -€76,668 | -85.9% |
| Income taxes | 67/77 | €216 | €176 | -€40 | -18.6% |
| Profit (loss) for the period | 9904 | -€89,501 | -€166,129 | -€76,627 | -85.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,501 | -€166,129 | -€76,627 | -85.6% |
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 8 October 2026 via checked.be.