NOVAN: 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.
NOVAN
Largest movements
- Tangible fixed assets +€39,441
up €39,441 (+11.9%), from €330,455 to €369,896
of which Land and buildings: +€129,806
- Debts after one year +€44,293
up €44,293 (+12.5%), from €353,775 to €398,067
- Profit (loss) carried forward -€13,308
down €13,308 (-30.7%), from -€43,288 to -€56,596
- Gross operating margin +€5,618
up €5,618 (+64.7%), from -€8,686 to -€3,068
- Depreciation +€3,319
up €3,319 (+583.6%), from €569 to €3,888
- Other operating charges -€1,608
down €1,608 (-77.7%), from €2,070 to €462
- Financial charges +€1,348
up €1,348 (+29.7%), from €4,543 to €5,890
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 | €377,925 | €411,159 | +€33,234 | +8.8% |
| Formation expenses | 20 | €1,178 | €609 | -€569 | -48.3% |
| Fixed assets | 21/28 | €330,455 | €369,896 | +€39,441 | +11.9% |
| Tangible fixed assets | 22/27 | €330,455 | €369,896 | +€39,441 | +11.9% |
| Land and buildings | 22 | €240,090 | €369,896 | +€129,806 | +54.1% |
| Assets under construction and advance payments | 27 | €90,365 | €0 | -€90,365 | -100.0% |
| Current assets | 29/58 | €46,291 | €40,654 | -€5,638 | -12.2% |
| Amounts receivable within one year | 40/41 | €36,512 | €34,159 | -€2,352 | -6.4% |
| Trade receivables | 40 | €29,630 | €29,630 | = | 0.0% |
| Other amounts receivable | 41 | €6,882 | €4,529 | -€2,352 | -34.2% |
| Cash at bank and in hand | 54/58 | €9,503 | €6,142 | -€3,361 | -35.4% |
| Deferred charges and accrued income | 490/1 | €277 | €352 | +€75 | +27.3% |
| Total equity and liabilities | 10/49 | €377,925 | €411,159 | +€33,234 | +8.8% |
| Equity | 10/15 | €6,712 | -€6,596 | -€13,308 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,288 | -€56,596 | -€13,308 | -30.7% |
| Amounts payable | 17/49 | €371,213 | €417,755 | +€46,542 | +12.5% |
| Amounts payable after more than one year | 17 | €353,775 | €398,067 | +€44,293 | +12.5% |
| Financial debts | 170/4 | €353,775 | €398,067 | +€44,293 | +12.5% |
| Amounts payable within one year | 42/48 | €17,438 | €19,688 | +€2,249 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €13,450 | €13,707 | +€258 | +1.9% |
| Trade debts | 44 | €3,989 | €3,879 | -€110 | -2.8% |
| Suppliers | 440/4 | €3,989 | €3,879 | -€110 | -2.8% |
| Other amounts payable | 47/48 | - | €2,102 | +€2,102 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €569 | €3,888 | +€3,319 | +583.6% |
| Other operating charges | 640/8 | €2,070 | €462 | -€1,608 | -77.7% |
| Gross operating margin | 9900 | -€8,686 | -€3,068 | +€5,618 | +64.7% |
| Operating profit (loss) | 9901 | -€11,324 | -€7,417 | +€3,907 | +34.5% |
| Financial charges | 65/66B | €4,543 | €5,890 | +€1,348 | +29.7% |
| Recurring financial charges | 65 | €4,543 | €5,890 | +€1,348 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | -€15,867 | -€13,308 | +€2,559 | +16.1% |
| Profit (loss) for the period | 9904 | -€15,867 | -€13,308 | +€2,559 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,867 | -€13,308 | +€2,559 | +16.1% |
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 7 October 2026 via checked.be.