NOVAM: 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.
NOVAM
Largest movements
- Cash +€83,208
up €83,208 (+145%), from €57,338 to €140,546
mainly Net result for the year (+€59,343) and Tax, wage and social debts (+€25,063)
- Reserves +€59,300
up €59,300 (+123%), from €48,300 to €107,600
- Tax, wage and social debts +€25,063
up €25,063 (+105%), from €23,967 to €49,029
- Gross operating margin +€11,119
up €11,119 (+14.3%), from €77,754 to €88,873
- Taxes +€4,395
up €4,395 (+23.3%), from €18,829 to €23,224
- Other operating charges -€3,095
down €3,095 (-32.6%), from €9,498 to €6,404
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 | €77,462 | €160,888 | +€83,426 | +108% |
| Current assets | 29/58 | €77,462 | €160,888 | +€83,426 | +108% |
| Current investments | 50/53 | €20,124 | €20,343 | +€219 | +1.1% |
| Cash at bank and in hand | 54/58 | €57,338 | €140,546 | +€83,208 | +145% |
| Total equity and liabilities | 10/49 | €77,462 | €160,888 | +€83,426 | +108% |
| Equity | 10/15 | €49,495 | €108,838 | +€59,343 | +120% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €48,300 | €107,600 | +€59,300 | +123% |
| Distributable reserves | 133 | €48,300 | €107,600 | +€59,300 | +123% |
| Profit (loss) carried forward | 14 | €195 | €238 | +€43 | +21.9% |
| Amounts payable | 17/49 | €27,967 | €52,050 | +€24,083 | +86.1% |
| Amounts payable within one year | 42/48 | €27,967 | €52,050 | +€24,083 | +86.1% |
| Trade debts | 44 | €1,277 | €1,314 | +€36 | +2.9% |
| Suppliers | 440/4 | €1,277 | €1,314 | +€36 | +2.9% |
| Taxes, remuneration and social security | 45 | €23,967 | €49,029 | +€25,063 | +105% |
| Taxes | 450/3 | €23,967 | €49,029 | +€25,063 | +105% |
| Other amounts payable | 47/48 | €2,723 | €1,707 | -€1,016 | -37.3% |
| Other operating charges | 640/8 | €9,498 | €6,404 | -€3,095 | -32.6% |
| Gross operating margin | 9900 | €77,754 | €88,873 | +€11,119 | +14.3% |
| Operating profit (loss) | 9901 | €68,256 | €82,469 | +€14,214 | +20.8% |
| Financial income | 75/76B | €126 | €296 | +€170 | +134% |
| Recurring financial income | 75 | €126 | €296 | +€170 | +134% |
| Financial charges | 65/66B | €198 | €198 | +€0 | 0.0% |
| Recurring financial charges | 65 | €198 | €198 | +€0 | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €68,184 | €82,567 | +€14,383 | +21.1% |
| Income taxes | 67/77 | €18,829 | €23,224 | +€4,395 | +23.3% |
| Profit (loss) for the period | 9904 | €49,354 | €59,343 | +€9,989 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,354 | €59,343 | +€9,989 | +20.2% |
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 26 October 2026 via checked.be.