NOVAGARE: 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.
NOVAGARE
Largest movements
- Tangible fixed assets -€459,253
down €459,253 (-34.8%), from €1.3m to €861,517
of which Land and buildings: -€451,696
- Current portion of long-term debt -€300,000
down €300,000 (-76.9%), from €390,000 to €90,000
- Profit (loss) carried forward -€115,713
down €115,713 (-19.6%), from -€589,507 to -€705,220
- Other debts -€38,082
down €38,082 (-6.0%), from €637,666 to €599,584
- Purchases and services -€29,153
no longer reported in 2025 (was €29,153)
- Financial charges +€11,336
up €11,336 (+26.4%), from €42,872 to €54,208
- Gross operating margin +€5,387
up €5,387, from -€4,133 to €1,255
- Depreciation -€3,291
down €3,291 (-6.4%), from €51,683 to €48,392
- Other operating charges +€747
up €747 (+11.6%), from €6,455 to €7,202
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 | €1,349,414 | €887,078 | -€462,336 | -34.3% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,321,021 | €861,767 | -€459,253 | -34.8% |
| Tangible fixed assets | 22/27 | €1,320,771 | €861,517 | -€459,253 | -34.8% |
| Land and buildings | 22 | €1,292,740 | €841,043 | -€451,696 | -34.9% |
| Plant, machinery and equipment | 23 | €28,031 | €20,474 | -€7,557 | -27.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €28,393 | €25,311 | -€3,082 | -10.9% |
| Amounts receivable within one year | 40/41 | €27,550 | €24,461 | -€3,089 | -11.2% |
| Trade receivables | 40 | €15,030 | €20,030 | +€5,000 | +33.3% |
| Other amounts receivable | 41 | €12,520 | €4,431 | -€8,089 | -64.6% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Deferred charges and accrued income | 490/1 | €843 | €849 | +€7 | +0.8% |
| Total equity and liabilities | 10/49 | €1,349,414 | €887,078 | -€462,336 | -34.3% |
| Equity | 10/15 | €268,867 | €153,154 | -€115,713 | -43.0% |
| Contributions | 10/11 | €858,373 | €858,373 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€589,507 | -€705,220 | -€115,713 | -19.6% |
| Amounts payable | 17/49 | €1,080,547 | €733,924 | -€346,622 | -32.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,080,547 | €733,924 | -€346,622 | -32.1% |
| Current portion of amounts payable after more than one year | 42 | €390,000 | €90,000 | -€300,000 | -76.9% |
| Financial debts | 43 | €568 | €5,827 | +€5,259 | +927% |
| Credit institutions | 430/8 | €568 | €5,827 | +€5,259 | +927% |
| Trade debts | 44 | €45,564 | €38,513 | -€7,050 | -15.5% |
| Suppliers | 440/4 | €45,564 | €38,513 | -€7,050 | -15.5% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,749 | €0 | -€6,749 | -100% |
| Taxes | 450/3 | €6,749 | €0 | -€6,749 | -100% |
| Other amounts payable | 47/48 | €637,666 | €599,584 | -€38,082 | -6.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €16,253 | +€16,253 | |
| Goods, raw materials, services and sundry goods | 60/61 | €29,153 | - | -€29,153 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,683 | €48,392 | -€3,291 | -6.4% |
| Other operating charges | 640/8 | €6,455 | €7,202 | +€747 | +11.6% |
| Non-recurring operating charges | 66A | - | €7,220 | +€7,220 | |
| Gross operating margin | 9900 | -€4,133 | €1,255 | +€5,387 | |
| Operating profit (loss) | 9901 | -€62,270 | -€61,560 | +€711 | +1.1% |
| Financial income | 75/76B | €335 | €54 | -€280 | -83.7% |
| Recurring financial income | 75 | €335 | €54 | -€280 | -83.7% |
| Financial charges | 65/66B | €42,872 | €54,208 | +€11,336 | +26.4% |
| Recurring financial charges | 65 | €42,872 | €54,208 | +€11,336 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | -€104,808 | -€115,713 | -€10,905 | -10.4% |
| Profit (loss) for the period | 9904 | -€104,808 | -€115,713 | -€10,905 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,808 | -€115,713 | -€10,905 | -10.4% |
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 19 October 2026 via checked.be.