NOVAKEY: 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.
NOVAKEY
Largest movements
- Tangible fixed assets -€41,000
down €41,000 (-2.8%), from €1.5m to €1.4m
- Debts after one year -€56,304
down €56,304 (-5.0%), from €1.1m to €1.1m
- Trade debts +€20,284
up €20,284 (+315.8%), from €6,423 to €26,707
- Other debts -€19,931
down €19,931 (-28.4%), from €70,232 to €50,300
- Profit (loss) carried forward +€16,350
up €16,350 (+24.3%), from €67,229 to €83,580
- Financial income -€3,038
down €3,038 (-84.7%), from €3,585 to €547
- Gross operating margin +€1,405
up €1,405 (+1.3%), from €107,552 to €108,956
- Other operating charges -€1,106
down €1,106 (-3.4%), from €32,476 to €31,370
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 | €1,499,692 | €1,465,284 | -€34,408 | -2.3% |
| Fixed assets | 21/28 | €1,487,277 | €1,446,277 | -€41,000 | -2.8% |
| Tangible fixed assets | 22/27 | €1,487,277 | €1,446,277 | -€41,000 | -2.8% |
| Land and buildings | 22 | €1,487,277 | €1,446,277 | -€41,000 | -2.8% |
| Current assets | 29/58 | €12,416 | €19,008 | +€6,592 | +53.1% |
| Amounts receivable within one year | 40/41 | €2,442 | €6,489 | +€4,048 | +165.8% |
| Trade receivables | 40 | €0 | €4,048 | +€4,048 | |
| Other amounts receivable | 41 | €2,442 | €2,442 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,239 | €5,549 | +€2,310 | +71.3% |
| Deferred charges and accrued income | 490/1 | €6,735 | €6,969 | +€234 | +3.5% |
| Total equity and liabilities | 10/49 | €1,499,692 | €1,465,284 | -€34,408 | -2.3% |
| Equity | 10/15 | €186,505 | €207,558 | +€21,053 | +11.3% |
| Contributions | 10/11 | €106,200 | €106,200 | = | 0.0% |
| Revaluation surpluses | 12 | €13,075 | €13,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,229 | €83,580 | +€16,350 | +24.3% |
| Investment grants | 15 | - | €4,703 | +€4,703 | |
| Amounts payable | 17/49 | €1,313,188 | €1,257,726 | -€55,462 | -4.2% |
| Amounts payable after more than one year | 17 | €1,135,828 | €1,079,524 | -€56,304 | -5.0% |
| Financial debts | 170/4 | €1,135,828 | €1,079,524 | -€56,304 | -5.0% |
| Amounts payable within one year | 42/48 | €177,075 | €178,202 | +€1,128 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €99,913 | €100,928 | +€1,015 | +1.0% |
| Trade debts | 44 | €6,423 | €26,707 | +€20,284 | +315.8% |
| Suppliers | 440/4 | €6,423 | €26,707 | +€20,284 | +315.8% |
| Taxes, remuneration and social security | 45 | €507 | €268 | -€239 | -47.2% |
| Taxes | 450/3 | €507 | €268 | -€239 | -47.2% |
| Other amounts payable | 47/48 | €70,232 | €50,300 | -€19,931 | -28.4% |
| Accrued charges and deferred income | 492/3 | €285 | €0 | -€285 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,984 | €41,000 | +€16 | 0.0% |
| Other operating charges | 640/8 | €32,476 | €31,370 | -€1,106 | -3.4% |
| Gross operating margin | 9900 | €107,552 | €108,956 | +€1,405 | +1.3% |
| Operating profit (loss) | 9901 | €34,092 | €36,586 | +€2,494 | +7.3% |
| Financial income | 75/76B | €3,585 | €547 | -€3,038 | -84.7% |
| Recurring financial income | 75 | €3,585 | €547 | -€3,038 | -84.7% |
| Financial charges | 65/66B | €15,566 | €15,515 | -€51 | -0.3% |
| Recurring financial charges | 65 | €15,566 | €15,515 | -€51 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €22,111 | €21,618 | -€493 | -2.2% |
| Income taxes | 67/77 | €5,507 | €5,268 | -€239 | -4.3% |
| Profit (loss) for the period | 9904 | €16,604 | €16,350 | -€254 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,604 | €16,350 | -€254 | -1.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.