Novar: 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.
Novar
Largest movements
- Cash -€150,437
down €150,437 (-85.6%), from €175,762 to €25,325
mainly Investment in fixed assets (net) (-€301,527) and Debts after one year (-€179,833)
- Intangible fixed assets +€104,091
up €104,091 (+367%), from €28,400 to €132,491
- Receivables within one year +€40,667
up €40,667 (+20.8%), from €195,125 to €235,792
of which Other amounts receivable: +€155,691
- Tangible fixed assets -€24,574
down €24,574 (-1.9%), from €1.3m to €1.3m
of which Land and buildings: -€95,380
- Reserves +€203,538
up €203,538 (+19.1%), from €1.1m to €1.3m
- Debts after one year -€179,833
down €179,833 (-19.6%), from €916,681 to €736,848
- Tax, wage and social debts -€113,552
down €113,552 (-99.2%), from €114,446 to €894
of which Taxes: -€109,388
- Trade debts +€46,047
up €46,047 (+92.0%), from €50,046 to €96,093
- Gross operating margin -€179,340
down €179,340 (-24.1%), from €745,347 to €566,006
- Taxes -€44,991
down €44,991 (-42.3%), from €106,289 to €61,298
- Staff costs -€21,208
down €21,208 (-92.2%), from €22,996 to €1,788
- Financial charges +€13,138
up €13,138 (+32.3%), from €40,700 to €53,838
of which Non-recurring financial charges: +€9,650
- Depreciation -€12,285
down €12,285 (-5.0%), from €243,945 to €231,660
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 | €2,411,716 | €2,355,917 | -€55,799 | -2.3% |
| Fixed assets | 21/28 | €1,343,297 | €1,413,165 | +€69,867 | +5.2% |
| Intangible fixed assets | 21 | €28,400 | €132,491 | +€104,091 | +367% |
| Tangible fixed assets | 22/27 | €1,305,248 | €1,280,673 | -€24,574 | -1.9% |
| Land and buildings | 22 | €1,174,712 | €1,079,332 | -€95,380 | -8.1% |
| Plant, machinery and equipment | 23 | €130,536 | €116,514 | -€14,022 | -10.7% |
| Furniture and vehicles | 24 | - | €84,828 | +€84,828 | |
| Financial fixed assets | 28 | €9,650 | €0 | -€9,650 | -100% |
| Current assets | 29/58 | €1,068,418 | €942,752 | -€125,666 | -11.8% |
| Stocks and contracts in progress | 3 | €688,103 | €680,997 | -€7,106 | -1.0% |
| Stocks | 30/36 | €688,103 | €680,997 | -€7,106 | -1.0% |
| Amounts receivable within one year | 40/41 | €195,125 | €235,792 | +€40,667 | +20.8% |
| Trade receivables | 40 | €146,364 | €31,339 | -€115,024 | -78.6% |
| Other amounts receivable | 41 | €48,761 | €204,453 | +€155,691 | +319% |
| Cash at bank and in hand | 54/58 | €175,762 | €25,325 | -€150,437 | -85.6% |
| Deferred charges and accrued income | 490/1 | €9,428 | €638 | -€8,791 | -93.2% |
| Total equity and liabilities | 10/49 | €2,411,716 | €2,355,917 | -€55,799 | -2.3% |
| Equity | 10/15 | €1,100,728 | €1,304,266 | +€203,538 | +18.5% |
| Contributions | 10/11 | €37,500 | €37,500 | = | 0.0% |
| Reserves | 13 | €1,063,228 | €1,266,766 | +€203,538 | +19.1% |
| Distributable reserves | 133 | €1,063,228 | €1,266,766 | +€203,538 | +19.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,310,988 | €1,051,651 | -€259,337 | -19.8% |
| Amounts payable after more than one year | 17 | €916,681 | €736,848 | -€179,833 | -19.6% |
| Financial debts | 170/4 | €916,681 | €736,848 | -€179,833 | -19.6% |
| Amounts payable within one year | 42/48 | €394,307 | €314,303 | -€80,004 | -20.3% |
| Current portion of amounts payable after more than one year | 42 | €181,411 | €179,833 | -€1,578 | -0.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €50,046 | €96,093 | +€46,047 | +92.0% |
| Suppliers | 440/4 | €50,046 | €96,093 | +€46,047 | +92.0% |
| Taxes, remuneration and social security | 45 | €114,446 | €894 | -€113,552 | -99.2% |
| Taxes | 450/3 | €110,282 | €894 | -€109,388 | -99.2% |
| Remuneration and social security | 454/9 | €4,164 | €0 | -€4,164 | -100% |
| Other amounts payable | 47/48 | €48,404 | €37,483 | -€10,921 | -22.6% |
| Accrued charges and deferred income | 492/3 | - | €500 | +€500 | |
| Remuneration, social security and pensions | 62 | €22,996 | €1,788 | -€21,208 | -92.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €243,945 | €231,660 | -€12,285 | -5.0% |
| Other operating charges | 640/8 | €15,170 | €14,547 | -€623 | -4.1% |
| Gross operating margin | 9900 | €745,347 | €566,006 | -€179,340 | -24.1% |
| Operating profit (loss) | 9901 | €463,236 | €318,011 | -€145,225 | -31.4% |
| Financial income | 75/76B | €292 | €663 | +€371 | +127% |
| Recurring financial income | 75 | €292 | €663 | +€371 | +127% |
| Financial charges | 65/66B | €40,700 | €53,838 | +€13,138 | +32.3% |
| Recurring financial charges | 65 | €40,700 | €44,188 | +€3,488 | +8.6% |
| Non-recurring financial charges | 66B | - | €9,650 | +€9,650 | |
| Profit (loss) for the period before taxes | 9903 | €422,828 | €264,836 | -€157,992 | -37.4% |
| Income taxes | 67/77 | €106,289 | €61,298 | -€44,991 | -42.3% |
| Profit (loss) for the period | 9904 | €316,539 | €203,538 | -€113,001 | -35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €316,539 | €203,538 | -€113,001 | -35.7% |
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.