NOVADEM: 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.
NOVADEM
Largest movements
- Cash +€258,868
up €258,868 (+248%), from €104,249 to €363,117
mainly Current investments (+€200,000) and Net result for the year (+€51,839)
- Current investments -€200,000
no longer reported in 2025 (was €200,000)
- Receivables within one year -€13,858
no longer reported in 2025 (was €13,858)
of which Trade receivables: -€9,269
- Deferred charges and accrued income -€4,384
down €4,384 (-76.5%), from €5,730 to €1,346
- Other debts +€34,594
up €34,594 (+78.7%), from €43,935 to €78,529
- Gross operating margin +€14,935
up €14,935 (+24.3%), from €61,339 to €76,273
- Financial income -€5,314
down €5,314 (-78.7%), from €6,754 to €1,439
- Depreciation -€2,113
down €2,113 (-40.0%), from €5,280 to €3,167
- Financial charges +€1,033
up €1,033 (+64.7%), from €1,595 to €2,628
- Taxes -€949
down €949 (-4.6%), from €20,501 to €19,552
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 | €327,004 | €364,463 | +€37,459 | +11.5% |
| Fixed assets | 21/28 | €3,167 | - | -€3,167 | |
| Tangible fixed assets | 22/27 | €3,167 | - | -€3,167 | |
| Plant, machinery and equipment | 23 | €1,448 | - | -€1,448 | |
| Furniture and vehicles | 24 | €1,719 | - | -€1,719 | |
| Current assets | 29/58 | €323,837 | €364,463 | +€40,626 | +12.5% |
| Amounts receivable within one year | 40/41 | €13,858 | - | -€13,858 | |
| Trade receivables | 40 | €9,269 | - | -€9,269 | |
| Other amounts receivable | 41 | €4,589 | - | -€4,589 | |
| Current investments | 50/53 | €200,000 | - | -€200,000 | |
| Cash at bank and in hand | 54/58 | €104,249 | €363,117 | +€258,868 | +248% |
| Deferred charges and accrued income | 490/1 | €5,730 | €1,346 | -€4,384 | -76.5% |
| Total equity and liabilities | 10/49 | €327,004 | €364,463 | +€37,459 | +11.5% |
| Equity | 10/15 | €268,907 | €268,907 | +€1 | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250,304 | €250,304 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €248,444 | €248,444 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3 | €3 | +€1 | +19.6% |
| Amounts payable | 17/49 | €58,097 | €95,556 | +€37,458 | +64.5% |
| Amounts payable within one year | 42/48 | €58,097 | €94,773 | +€36,676 | +63.1% |
| Trade debts | 44 | €6,464 | €6,570 | +€106 | +1.6% |
| Suppliers | 440/4 | €6,464 | €6,570 | +€106 | +1.6% |
| Taxes, remuneration and social security | 45 | €7,699 | €9,674 | +€1,976 | +25.7% |
| Taxes | 450/3 | €7,699 | €9,674 | +€1,976 | +25.7% |
| Other amounts payable | 47/48 | €43,935 | €78,529 | +€34,594 | +78.7% |
| Accrued charges and deferred income | 492/3 | - | €782 | +€782 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,280 | €3,167 | -€2,113 | -40.0% |
| Other operating charges | 640/8 | €1,314 | €528 | -€786 | -59.8% |
| Gross operating margin | 9900 | €61,339 | €76,273 | +€14,935 | +24.3% |
| Operating profit (loss) | 9901 | €54,745 | €72,579 | +€17,833 | +32.6% |
| Financial income | 75/76B | €6,754 | €1,439 | -€5,314 | -78.7% |
| Recurring financial income | 75 | €6,754 | €1,439 | -€5,314 | -78.7% |
| Financial charges | 65/66B | €1,595 | €2,628 | +€1,033 | +64.7% |
| Recurring financial charges | 65 | €1,595 | €2,628 | +€1,033 | +64.7% |
| Profit (loss) for the period before taxes | 9903 | €59,904 | €71,390 | +€11,486 | +19.2% |
| Income taxes | 67/77 | €20,501 | €19,552 | -€949 | -4.6% |
| Profit (loss) for the period | 9904 | €39,403 | €51,839 | +€12,436 | +31.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,403 | €51,839 | +€12,436 | +31.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.