Novalfin: 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.
Novalfin
Largest movements
- Cash +€101,324
up €101,324 (+27.8%), from €363,920 to €465,244
mainly Other debts (+€150,056) and Net result for the year (+€98,037)
- Receivables within one year -€16,247
down €16,247 (-50.5%), from €32,147 to €15,900
of which Trade receivables: -€15,287
- Other debts +€150,056
up €150,056 (+49.9%), from €300,520 to €450,576
- Profit (loss) carried forward -€48,210
no longer reported in 2025 (was €48,210)
- Tax, wage and social debts -€20,038
down €20,038 (-33.0%), from €60,674 to €40,636
- Financial charges +€77,115
up €77,115 (+4,253%), from €1,813 to €78,928
- Gross operating margin +€60,949
up €60,949 (+40.2%), from €151,428 to €212,377
- Financial income -€6,141
no longer reported in 2025 (was €6,141)
- Taxes -€4,100
down €4,100 (-11.0%), from €37,368 to €33,268
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 | €415,009 | €494,953 | +€79,944 | +19.3% |
| Fixed assets | 21/28 | €9,572 | €8,568 | -€1,004 | -10.5% |
| Tangible fixed assets | 22/27 | €7,072 | €6,068 | -€1,004 | -14.2% |
| Furniture and vehicles | 24 | €4,244 | €3,575 | -€669 | -15.8% |
| Other tangible fixed assets | 26 | €2,828 | €2,492 | -€335 | -11.9% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €405,437 | €486,386 | +€80,948 | +20.0% |
| Amounts receivable within one year | 40/41 | €32,147 | €15,900 | -€16,247 | -50.5% |
| Trade receivables | 40 | €30,798 | €15,511 | -€15,287 | -49.6% |
| Other amounts receivable | 41 | €1,348 | €389 | -€959 | -71.2% |
| Cash at bank and in hand | 54/58 | €363,920 | €465,244 | +€101,324 | +27.8% |
| Deferred charges and accrued income | 490/1 | €9,371 | €5,242 | -€4,129 | -44.1% |
| Total equity and liabilities | 10/49 | €415,009 | €494,953 | +€79,944 | +19.3% |
| Equity | 10/15 | €50,210 | €2,000 | -€48,210 | -96.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,210 | - | -€48,210 | |
| Amounts payable | 17/49 | €364,799 | €492,953 | +€128,155 | +35.1% |
| Amounts payable within one year | 42/48 | €364,799 | €492,934 | +€128,135 | +35.1% |
| Financial debts | 43 | €1,925 | €158 | -€1,766 | -91.8% |
| Credit institutions | 430/8 | €1,925 | €158 | -€1,766 | -91.8% |
| Trade debts | 44 | €1,680 | €1,563 | -€117 | -7.0% |
| Suppliers | 440/4 | €1,680 | €1,563 | -€117 | -7.0% |
| Taxes, remuneration and social security | 45 | €60,674 | €40,636 | -€20,038 | -33.0% |
| Taxes | 450/3 | €60,674 | €40,636 | -€20,038 | -33.0% |
| Other amounts payable | 47/48 | €300,520 | €450,576 | +€150,056 | +49.9% |
| Accrued charges and deferred income | 492/3 | - | €20 | +€20 | |
| Non-recurring operating income | 76A | - | €48,957 | +€48,957 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,929 | €2,035 | +€106 | +5.5% |
| Other operating charges | 640/8 | €97 | €109 | +€12 | +12.3% |
| Gross operating margin | 9900 | €151,428 | €212,377 | +€60,949 | +40.2% |
| Operating profit (loss) | 9901 | €149,401 | €210,233 | +€60,831 | +40.7% |
| Financial income | 75/76B | €6,141 | - | -€6,141 | |
| Recurring financial income | 75 | €6,141 | - | -€6,141 | |
| Financial charges | 65/66B | €1,813 | €78,928 | +€77,115 | +4,253% |
| Recurring financial charges | 65 | €1,813 | €78,928 | +€77,115 | +4,253% |
| Profit (loss) for the period before taxes | 9903 | €153,729 | €131,305 | -€22,424 | -14.6% |
| Income taxes | 67/77 | €37,368 | €33,268 | -€4,100 | -11.0% |
| Profit (loss) for the period | 9904 | €116,361 | €98,037 | -€18,325 | -15.7% |
| Profit (loss) for the period to be appropriated | 9905 | €116,361 | €98,037 | -€18,325 | -15.7% |
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 30 October 2026 via checked.be.