NOVANDI: 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.
NOVANDI
Largest movements
- Financial fixed assets +€2.1m
up €2.1m (+45.9%), from €4.5m to €6.6m
- Cash -€480,232
down €480,232 (-32.1%), from €1.5m to €1.0m
mainly Investment in fixed assets (net) (-€2.0m) and Receivables within one year (-€52,190)
- Tangible fixed assets -€104,213
down €104,213 (-25.4%), from €409,669 to €305,456
of which Land and buildings: -€54,615
- Reserves +€1.0m
up €1.0m (+15.9%), from €6.3m to €7.3m
of which Distributable reserves: +€1.0m
- Other debts +€539,207
up €539,207 (+179%), from €300,700 to €839,907
- Financial income +€639,564
up €639,564 (+246%), from €259,734 to €899,298
- Turnover +€11,792
up €11,792 (+3.6%), from €329,619 to €341,411
- Taxes +€6,810
up €6,810 (+12.7%), from €53,542 to €60,351
- Financial charges +€4,783
up €4,783 (+514%), from €931 to €5,714
- Other operating income -€4,464
down €4,464 (-16.3%), from €27,375 to €22,911
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 | €7,245,767 | €8,791,567 | +€1.5m | +21.3% |
| Fixed assets | 21/28 | €4,932,066 | €6,905,652 | +€2.0m | +40.0% |
| Tangible fixed assets | 22/27 | €409,669 | €305,456 | -€104,213 | -25.4% |
| Land and buildings | 22 | €263,726 | €209,111 | -€54,615 | -20.7% |
| Furniture and vehicles | 24 | €145,943 | €96,345 | -€49,598 | -34.0% |
| Financial fixed assets | 28 | €4,522,397 | €6,600,197 | +€2.1m | +45.9% |
| Affiliated companies | 280/1 | €4,522,397 | €6,600,197 | +€2.1m | +45.9% |
| Participating interests | 280 | €4,522,397 | €6,600,197 | +€2.1m | +45.9% |
| Current assets | 29/58 | €2,313,701 | €1,885,915 | -€427,786 | -18.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €809,858 | €862,048 | +€52,190 | +6.4% |
| Trade receivables | 40 | €47,026 | €34,425 | -€12,602 | -26.8% |
| Other amounts receivable | 41 | €762,832 | €827,623 | +€64,792 | +8.5% |
| Current investments | 50/53 | €100 | €100 | = | 0.0% |
| Other investments | 51/53 | €100 | €100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,496,928 | €1,016,696 | -€480,232 | -32.1% |
| Deferred charges and accrued income | 490/1 | €6,815 | €7,071 | +€256 | +3.8% |
| Total equity and liabilities | 10/49 | €7,245,767 | €8,791,567 | +€1.5m | +21.3% |
| Equity | 10/15 | €6,874,002 | €7,878,249 | +€1.0m | +14.6% |
| Contributions | 10/11 | €541,060 | €541,060 | = | 0.0% |
| Reserves | 13 | €6,332,943 | €7,337,189 | +€1.0m | +15.9% |
| Non-distributable reserves | 130/1 | €66,829 | €66,829 | = | 0.0% |
| Reserves not available under the articles | 1311 | €66,829 | €66,829 | = | 0.0% |
| Distributable reserves | 133 | €6,266,113 | €7,270,360 | +€1.0m | +16.0% |
| Amounts payable | 17/49 | €371,765 | €913,318 | +€541,553 | +146% |
| Amounts payable within one year | 42/48 | €371,765 | €909,004 | +€537,239 | +145% |
| Trade debts | 44 | €4,251 | €7,396 | +€3,145 | +74.0% |
| Suppliers | 440/4 | €4,251 | €7,396 | +€3,145 | +74.0% |
| Taxes, remuneration and social security | 45 | €66,814 | €61,701 | -€5,112 | -7.7% |
| Taxes | 450/3 | €66,814 | €61,701 | -€5,112 | -7.7% |
| Other amounts payable | 47/48 | €300,700 | €839,907 | +€539,207 | +179% |
| Accrued charges and deferred income | 492/3 | €0 | €4,314 | +€4,314 | |
| Operating income | 70/76A | €356,994 | €364,322 | +€7,328 | +2.1% |
| Turnover | 70 | €329,619 | €341,411 | +€11,792 | +3.6% |
| Other operating income | 74 | €27,375 | €22,911 | -€4,464 | -16.3% |
| Operating charges | 60/66A | €192,570 | €193,308 | +€738 | +0.4% |
| Services and other goods | 61 | €132,071 | €132,761 | +€690 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,334 | €56,662 | -€2,672 | -4.5% |
| Other operating charges | 640/8 | €1,164 | €3,884 | +€2,720 | +234% |
| Operating profit (loss) | 9901 | €164,424 | €171,014 | +€6,590 | +4.0% |
| Financial income | 75/76B | €259,734 | €899,298 | +€639,564 | +246% |
| Recurring financial income | 75 | €259,734 | €899,298 | +€639,564 | +246% |
| Income from financial fixed assets | 750 | €232,973 | €876,578 | +€643,604 | +276% |
| Income from current assets | 751 | €26,761 | €21,326 | -€5,435 | -20.3% |
| Other financial income | 752/9 | - | €1,394 | +€1,394 | |
| Financial charges | 65/66B | €931 | €5,714 | +€4,783 | +514% |
| Recurring financial charges | 65 | €931 | €5,714 | +€4,783 | +514% |
| Debt charges | 650 | - | €4,314 | +€4,314 | |
| Other financial charges | 652/9 | €931 | €1,399 | +€468 | +50.3% |
| Profit (loss) for the period before taxes | 9903 | €423,227 | €1,064,598 | +€641,371 | +152% |
| Income taxes | 67/77 | €53,542 | €60,351 | +€6,810 | +12.7% |
| Taxes | 670/3 | €53,542 | €60,351 | +€6,810 | +12.7% |
| Profit (loss) for the period | 9904 | €369,686 | €1,004,247 | +€634,561 | +172% |
| Profit (loss) for the period to be appropriated | 9905 | €369,686 | €1,004,247 | +€634,561 | +172% |
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 28 October 2026 via checked.be.