NOVALIS: 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.
NOVALIS
Largest movements
- Receivables after one year +€61,104
new in 2025: €61,104
- Receivables within one year -€16,587
down €16,587 (-28.2%), from €58,777 to €42,190
of which Trade receivables: -€45,195
- Deferred charges and accrued income +€9,857
up €9,857 (+739.6%), from €1,333 to €11,190
- Tangible fixed assets -€5,475
down €5,475 (-67.6%), from €8,096 to €2,622
- Cash -€3,491
down €3,491 (-87.3%), from €3,996 to €506
mainly Receivables after one year (-€61,104) and Deferred charges and accrued income (-€9,857)
- Debts after one year +€45,829
new in 2025: €45,829
- Profit (loss) carried forward -€8,248
down €8,248 (-7.1%), from -€115,704 to -€123,952
- Tax, wage and social debts +€7,996
up €7,996 (+71.5%), from €11,189 to €19,185
of which Remuneration and social security: +€7,251
- Other debts -€1,683
down €1,683 (-4.2%), from €40,517 to €38,834
- Gross operating margin -€52,290
down €52,290 (-60.3%), from €86,763 to €34,472
- Depreciation -€20,467
down €20,467 (-71.0%), from €28,827 to €8,360
- Staff costs -€9,743
down €9,743 (-26.3%), from €37,024 to €27,281
- Financial income -€2,794
down €2,794 (-86.0%), from €3,250 to €456
- Taxes -€1,524
down €1,524 (-85.6%), from €1,781 to €257
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 | €78,626 | €124,036 | +€45,409 | +57.8% |
| Fixed assets | 21/28 | €11,096 | €5,622 | -€5,475 | -49.3% |
| Tangible fixed assets | 22/27 | €8,096 | €2,622 | -€5,475 | -67.6% |
| Furniture and vehicles | 24 | €8,096 | €2,622 | -€5,475 | -67.6% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €67,530 | €118,414 | +€50,884 | +75.4% |
| Amounts receivable after more than one year | 29 | - | €61,104 | +€61,104 | |
| Other amounts receivable | 291 | - | €61,104 | +€61,104 | |
| Stocks and contracts in progress | 3 | €3,424 | €3,424 | = | 0.0% |
| Stocks | 30/36 | €3,424 | €3,424 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €58,777 | €42,190 | -€16,587 | -28.2% |
| Trade receivables | 40 | €52,196 | €7,001 | -€45,195 | -86.6% |
| Other amounts receivable | 41 | €6,581 | €35,189 | +€28,608 | +434.7% |
| Cash at bank and in hand | 54/58 | €3,996 | €506 | -€3,491 | -87.3% |
| Deferred charges and accrued income | 490/1 | €1,333 | €11,190 | +€9,857 | +739.6% |
| Total equity and liabilities | 10/49 | €78,626 | €124,036 | +€45,409 | +57.8% |
| Equity | 10/15 | €9,296 | €1,048 | -€8,248 | -88.7% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,704 | -€123,952 | -€8,248 | -7.1% |
| Amounts payable | 17/49 | €69,330 | €122,988 | +€53,658 | +77.4% |
| Amounts payable after more than one year | 17 | - | €45,829 | +€45,829 | |
| Financial debts | 170/4 | - | €45,829 | +€45,829 | |
| Amounts payable within one year | 42/48 | €69,330 | €77,159 | +€7,829 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €13,815 | €14,490 | +€675 | +4.9% |
| Trade debts | 44 | €3,810 | €4,650 | +€840 | +22.0% |
| Suppliers | 440/4 | €3,810 | €4,650 | +€840 | +22.0% |
| Taxes, remuneration and social security | 45 | €11,189 | €19,185 | +€7,996 | +71.5% |
| Taxes | 450/3 | €6,300 | €7,046 | +€746 | +11.8% |
| Remuneration and social security | 454/9 | €4,889 | €12,139 | +€7,251 | +148.3% |
| Other amounts payable | 47/48 | €40,517 | €38,834 | -€1,683 | -4.2% |
| Remuneration, social security and pensions | 62 | €37,024 | €27,281 | -€9,743 | -26.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,827 | €8,360 | -€20,467 | -71.0% |
| Other operating charges | 640/8 | €2,808 | €1,617 | -€1,190 | -42.4% |
| Non-recurring operating charges | 66A | - | €57 | +€57 | |
| Gross operating margin | 9900 | €86,763 | €34,472 | -€52,290 | -60.3% |
| Operating profit (loss) | 9901 | €18,104 | -€2,843 | -€20,947 | |
| Financial income | 75/76B | €3,250 | €456 | -€2,794 | -86.0% |
| Recurring financial income | 75 | €3,250 | €456 | -€2,794 | -86.0% |
| Financial charges | 65/66B | €5,929 | €5,604 | -€325 | -5.5% |
| Recurring financial charges | 65 | €5,929 | €5,604 | -€325 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €15,425 | -€7,991 | -€23,416 | |
| Income taxes | 67/77 | €1,781 | €257 | -€1,524 | -85.6% |
| Profit (loss) for the period | 9904 | €13,644 | -€8,248 | -€21,892 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,644 | -€8,248 | -€21,892 |
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 6 October 2026 via checked.be.