Novalis II: 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.
Novalis II
Largest movements
- Financial fixed assets +€2.7m
up €2.7m (+24.5%), from €10.9m to €13.6m
- Cash +€2.1m
up €2.1m (+576%), from €366,480 to €2.5m
mainly Contributions, distributions and other (+€5.5m) and Trade debts (+€19,008)
- Contributions +€5.5m
up €5.5m (+40.0%), from €13.7m to €19.2m
- Profit (loss) carried forward -€575,322
down €575,322 (-23.3%), from -€2.5m to -€3.0m
- Financial charges -€247,562
down €247,562 (-99.8%), from €248,158 to €595
- Financial income -€117,919
down €117,919 (-94.5%), from €124,788 to €6,869
- Other operating charges -€10,965
down €10,965 (-90.6%), from €12,108 to €1,143
- Gross operating margin -€10,703
down €10,703 (-1.9%), from -€569,750 to -€580,453
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 | €11,279,575 | €16,169,383 | +€4.9m | +43.4% |
| Fixed assets | 21/28 | €10,897,836 | €13,569,423 | +€2.7m | +24.5% |
| Financial fixed assets | 28 | €10,897,836 | €13,569,423 | +€2.7m | +24.5% |
| Current assets | 29/58 | €381,739 | €2,599,960 | +€2.2m | +581% |
| Amounts receivable within one year | 40/41 | €1,830 | €112,193 | +€110,363 | +6,032% |
| Other amounts receivable | 41 | €1,830 | €112,193 | +€110,363 | +6,032% |
| Cash at bank and in hand | 54/58 | €366,480 | €2,478,837 | +€2.1m | +576% |
| Deferred charges and accrued income | 490/1 | €13,429 | €8,930 | -€4,499 | -33.5% |
| Total equity and liabilities | 10/49 | €11,279,575 | €16,169,383 | +€4.9m | +43.4% |
| Equity | 10/15 | €11,241,575 | €16,149,253 | +€4.9m | +43.7% |
| Contributions | 10/11 | €13,707,500 | €19,190,500 | +€5.5m | +40.0% |
| Profit (loss) carried forward | 14 | -€2,465,925 | -€3,041,247 | -€575,322 | -23.3% |
| Amounts payable | 17/49 | €38,000 | €20,130 | -€17,870 | -47.0% |
| Amounts payable within one year | 42/48 | €38,000 | €20,130 | -€17,870 | -47.0% |
| Trade debts | 44 | - | €19,008 | +€19,008 | |
| Suppliers | 440/4 | - | €19,008 | +€19,008 | |
| Other amounts payable | 47/48 | €38,000 | €1,122 | -€36,878 | -97.0% |
| Other operating charges | 640/8 | €12,108 | €1,143 | -€10,965 | -90.6% |
| Gross operating margin | 9900 | -€569,750 | -€580,453 | -€10,703 | -1.9% |
| Operating profit (loss) | 9901 | -€581,858 | -€581,596 | +€262 | 0.0% |
| Financial income | 75/76B | €124,788 | €6,869 | -€117,919 | -94.5% |
| Recurring financial income | 75 | €124,788 | €6,869 | -€117,919 | -94.5% |
| Financial charges | 65/66B | €248,158 | €595 | -€247,562 | -99.8% |
| Recurring financial charges | 65 | €248,158 | €595 | -€247,562 | -99.8% |
| Profit (loss) for the period before taxes | 9903 | -€705,227 | -€575,322 | +€129,906 | +18.4% |
| Profit (loss) for the period | 9904 | -€705,227 | -€575,322 | +€129,906 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€705,227 | -€575,322 | +€129,906 | +18.4% |
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 20 October 2026 via checked.be.