NOVAEDES: 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.
NOVAEDES
Largest movements
- Tangible fixed assets -€64,999
down €64,999 (-10.2%), from €637,829 to €572,830
of which Land and buildings: -€57,471
- Receivables after one year -€62,500
down €62,500 (-25.0%), from €250,000 to €187,500
- Profit (loss) carried forward -€43,115
down €43,115 (-13.8%), from -€312,478 to -€355,592
- Debts after one year -€40,000
down €40,000 (-66.7%), from €60,000 to €20,000
- Other debts -€39,043
down €39,043 (-19.7%), from €198,379 to €159,336
- Provisions +€20,000
no longer reported in 2025 (was -€20,000)
- Financial charges -€10,659
down €10,659 (-36.3%), from €29,369 to €18,710
- Gross operating margin -€9,578
down €9,578 (-21.1%), from €45,334 to €35,756
- Financial income +€8,944
up €8,944 (+127.8%), from €6,999 to €15,942
- Depreciation +€4,716
up €4,716 (+7.8%), from €60,284 to €64,999
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 | €1,563,088 | €1,434,991 | -€128,097 | -8.2% |
| Fixed assets | 21/28 | €637,829 | €572,830 | -€64,999 | -10.2% |
| Tangible fixed assets | 22/27 | €637,829 | €572,830 | -€64,999 | -10.2% |
| Land and buildings | 22 | €622,722 | €565,251 | -€57,471 | -9.2% |
| Furniture and vehicles | 24 | €15,108 | €7,579 | -€7,528 | -49.8% |
| Current assets | 29/58 | €925,258 | €862,161 | -€63,097 | -6.8% |
| Amounts receivable after more than one year | 29 | €250,000 | €187,500 | -€62,500 | -25.0% |
| Other amounts receivable | 291 | €250,000 | €187,500 | -€62,500 | -25.0% |
| Stocks and contracts in progress | 3 | €440,200 | €440,200 | = | 0.0% |
| Stocks | 30/36 | €440,200 | €440,200 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63,752 | €66,164 | +€2,411 | +3.8% |
| Other amounts receivable | 41 | €63,752 | €66,164 | +€2,411 | +3.8% |
| Cash at bank and in hand | 54/58 | €169,791 | €166,736 | -€3,055 | -1.8% |
| Deferred charges and accrued income | 490/1 | €1,515 | €1,562 | +€46 | +3.1% |
| Total equity and liabilities | 10/49 | €1,563,088 | €1,434,991 | -€128,097 | -8.2% |
| Equity | 10/15 | €889,455 | €846,341 | -€43,115 | -4.8% |
| Contributions | 10/11 | €560,061 | €560,061 | = | 0.0% |
| Reserves | 13 | €641,872 | €641,872 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,505 | €19,505 | = | 0.0% |
| Distributable reserves | 133 | €622,367 | €622,367 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€312,478 | -€355,592 | -€43,115 | -13.8% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Environmental obligations | 163 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €663,633 | €578,650 | -€84,982 | -12.8% |
| Amounts payable after more than one year | 17 | €60,000 | €20,000 | -€40,000 | -66.7% |
| Financial debts | 170/4 | €60,000 | €20,000 | -€40,000 | -66.7% |
| Amounts payable within one year | 42/48 | €596,254 | €555,251 | -€41,004 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €40,000 | €40,000 | = | 0.0% |
| Financial debts | 43 | €350,000 | €350,000 | = | 0.0% |
| Credit institutions | 430/8 | €350,000 | €350,000 | = | 0.0% |
| Trade debts | 44 | €4,375 | €3,424 | -€950 | -21.7% |
| Suppliers | 440/4 | €4,375 | €3,424 | -€950 | -21.7% |
| Taxes, remuneration and social security | 45 | €3,501 | €2,490 | -€1,011 | -28.9% |
| Taxes | 450/3 | €3,501 | €2,490 | -€1,011 | -28.9% |
| Other amounts payable | 47/48 | €198,379 | €159,336 | -€39,043 | -19.7% |
| Accrued charges and deferred income | 492/3 | €7,378 | €3,400 | -€3,978 | -53.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,284 | €64,999 | +€4,716 | +7.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,000 | - | +€20,000 | |
| Other operating charges | 640/8 | €12,526 | €11,011 | -€1,515 | -12.1% |
| Gross operating margin | 9900 | €45,334 | €35,756 | -€9,578 | -21.1% |
| Operating profit (loss) | 9901 | -€7,476 | -€40,255 | -€32,778 | -438.4% |
| Financial income | 75/76B | €6,999 | €15,942 | +€8,944 | +127.8% |
| Recurring financial income | 75 | €6,999 | €15,942 | +€8,944 | +127.8% |
| Financial charges | 65/66B | €29,369 | €18,710 | -€10,659 | -36.3% |
| Recurring financial charges | 65 | €29,369 | €18,710 | -€10,659 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,846 | -€43,022 | -€13,176 | -44.1% |
| Income taxes | 67/77 | €98 | €93 | -€5 | -4.8% |
| Profit (loss) for the period | 9904 | -€29,943 | -€43,115 | -€13,171 | -44.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,943 | -€43,115 | -€13,171 | -44.0% |
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 5 October 2026 via checked.be.