NOVAN: 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.
NOVAN
Largest movements
- Tangible fixed assets -€43,687
down €43,687 (-19.3%), from €226,498 to €182,812
- Receivables within one year +€22,944
up €22,944 (+163%), from €14,085 to €37,029
of which Other amounts receivable: +€24,341
- Receivables after one year -€20,000
no longer reported in 2025 (was €20,000)
- Cash +€5,826
up €5,826 (+117%), from €4,975 to €10,801
mainly Depreciation (+€41,427) and Receivables after one year (+€20,000)
- Stocks and contracts -€5,600
down €5,600 (-97.4%), from €5,750 to €150
of which Contracts in progress: -€4,750
- Debts after one year -€35,881
down €35,881 (-29.5%), from €121,449 to €85,568
- Reserves +€15,485
up €15,485 (+29.2%), from €53,000 to €68,485
- Other debts -€9,478
down €9,478 (-85.3%), from €11,110 to €1,632
- Trade debts -€8,512
down €8,512 (-42.5%), from €20,017 to €11,505
- Gross operating margin +€18,120
up €18,120 (+31.3%), from €57,862 to €75,982
- Taxes +€6,167
up €6,167 (+234%), from €2,631 to €8,798
- Depreciation +€3,226
up €3,226 (+8.4%), from €38,201 to €41,427
- Staff costs -€1,503
down €1,503 (-57.9%), from €2,595 to €1,092
- Financial income +€902
up €902 (+220%), from €409 to €1,311
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 | €273,002 | €230,905 | -€42,097 | -15.4% |
| Fixed assets | 21/28 | €226,498 | €182,812 | -€43,687 | -19.3% |
| Tangible fixed assets | 22/27 | €226,498 | €182,812 | -€43,687 | -19.3% |
| Land and buildings | 22 | €94,089 | €80,455 | -€13,634 | -14.5% |
| Plant, machinery and equipment | 23 | €80,131 | €65,388 | -€14,742 | -18.4% |
| Furniture and vehicles | 24 | €52,279 | €36,968 | -€15,311 | -29.3% |
| Current assets | 29/58 | €46,504 | €48,093 | +€1,590 | +3.4% |
| Amounts receivable after more than one year | 29 | €20,000 | - | -€20,000 | |
| Other amounts receivable | 291 | €20,000 | - | -€20,000 | |
| Stocks and contracts in progress | 3 | €5,750 | €150 | -€5,600 | -97.4% |
| Stocks | 30/36 | €1,000 | €150 | -€850 | -85.0% |
| Contracts in progress | 37 | €4,750 | - | -€4,750 | |
| Amounts receivable within one year | 40/41 | €14,085 | €37,029 | +€22,944 | +163% |
| Trade receivables | 40 | €11,806 | €10,410 | -€1,396 | -11.8% |
| Other amounts receivable | 41 | €2,278 | €26,619 | +€24,341 | +1,068% |
| Cash at bank and in hand | 54/58 | €4,975 | €10,801 | +€5,826 | +117% |
| Deferred charges and accrued income | 490/1 | €1,694 | €114 | -€1,580 | -93.3% |
| Total equity and liabilities | 10/49 | €273,002 | €230,905 | -€42,097 | -15.4% |
| Equity | 10/15 | €72,250 | €87,085 | +€14,835 | +20.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €53,000 | €68,485 | +€15,485 | +29.2% |
| Distributable reserves | 133 | €53,000 | €68,485 | +€15,485 | +29.2% |
| Profit (loss) carried forward | 14 | €650 | - | -€650 | |
| Amounts payable | 17/49 | €200,752 | €143,820 | -€56,932 | -28.4% |
| Amounts payable after more than one year | 17 | €121,449 | €85,568 | -€35,881 | -29.5% |
| Financial debts | 170/4 | €121,449 | €85,568 | -€35,881 | -29.5% |
| Amounts payable within one year | 42/48 | €79,303 | €58,251 | -€21,052 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €34,389 | €32,314 | -€2,075 | -6.0% |
| Trade debts | 44 | €20,017 | €11,505 | -€8,512 | -42.5% |
| Suppliers | 440/4 | €20,017 | €11,505 | -€8,512 | -42.5% |
| Taxes, remuneration and social security | 45 | €13,786 | €12,800 | -€986 | -7.2% |
| Taxes | 450/3 | €13,573 | €12,800 | -€773 | -5.7% |
| Remuneration and social security | 454/9 | €213 | - | -€213 | |
| Other amounts payable | 47/48 | €11,110 | €1,632 | -€9,478 | -85.3% |
| Non-recurring operating income | 76A | €2,093 | €400 | -€1,693 | -80.9% |
| Remuneration, social security and pensions | 62 | €2,595 | €1,092 | -€1,503 | -57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,201 | €41,427 | +€3,226 | +8.4% |
| Other operating charges | 640/8 | €2,460 | €2,763 | +€303 | +12.3% |
| Non-recurring operating charges | 66A | - | €460 | +€460 | |
| Gross operating margin | 9900 | €57,862 | €75,982 | +€18,120 | +31.3% |
| Operating profit (loss) | 9901 | €14,605 | €30,240 | +€15,635 | +107% |
| Financial income | 75/76B | €409 | €1,311 | +€902 | +220% |
| Recurring financial income | 75 | €409 | €1,311 | +€902 | +220% |
| Financial charges | 65/66B | €6,403 | €6,252 | -€151 | -2.4% |
| Recurring financial charges | 65 | €6,403 | €5,752 | -€651 | -10.2% |
| Non-recurring financial charges | 66B | - | €500 | +€500 | |
| Profit (loss) for the period before taxes | 9903 | €8,611 | €25,299 | +€16,688 | +194% |
| Income taxes | 67/77 | €2,631 | €8,798 | +€6,167 | +234% |
| Profit (loss) for the period | 9904 | €5,980 | €16,501 | +€10,521 | +176% |
| Profit (loss) for the period to be appropriated | 9905 | €5,980 | €16,501 | +€10,521 | +176% |
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 19 October 2026 via checked.be.