NOVARE: 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.
NOVARE
Largest movements
- Cash -€218,199
down €218,199 (-66.0%), from €330,599 to €112,400
mainly Other debts (-€143,881) and Contributions, distributions and other (-€141,989)
- Receivables within one year -€74,060
down €74,060 (-45.4%), from €163,184 to €89,124
of which Trade receivables: -€90,013
- Tangible fixed assets +€18,530
up €18,530 (+16.1%), from €115,389 to €133,919
of which Land and buildings: +€27,052
- Other debts -€143,881
down €143,881 (-42.1%), from €341,735 to €197,854
- Tax, wage and social debts -€74,176
down €74,176 (-50.6%), from €146,622 to €72,446
of which Taxes: -€74,494
- Trade debts -€53,837
down €53,837 (-76.7%), from €70,171 to €16,334
- Gross operating margin -€222,798
down €222,798 (-41.4%), from €538,081 to €315,283
- Taxes -€58,553
down €58,553 (-57.0%), from €102,690 to €44,137
- Depreciation +€10,726
up €10,726 (+47.6%), from €22,536 to €33,262
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 | €619,946 | €348,052 | -€271,894 | -43.9% |
| Fixed assets | 21/28 | €115,389 | €133,919 | +€18,530 | +16.1% |
| Tangible fixed assets | 22/27 | €115,389 | €133,919 | +€18,530 | +16.1% |
| Land and buildings | 22 | €16,942 | €43,994 | +€27,052 | +160% |
| Plant, machinery and equipment | 23 | €3,113 | €10,142 | +€7,029 | +226% |
| Furniture and vehicles | 24 | €95,334 | €79,783 | -€15,551 | -16.3% |
| Current assets | 29/58 | €504,557 | €214,133 | -€290,424 | -57.6% |
| Stocks and contracts in progress | 3 | €8,112 | €7,728 | -€384 | -4.7% |
| Stocks | 30/36 | €8,112 | €7,728 | -€384 | -4.7% |
| Amounts receivable within one year | 40/41 | €163,184 | €89,124 | -€74,060 | -45.4% |
| Trade receivables | 40 | €163,184 | €73,171 | -€90,013 | -55.2% |
| Other amounts receivable | 41 | - | €15,953 | +€15,953 | |
| Cash at bank and in hand | 54/58 | €330,599 | €112,400 | -€218,199 | -66.0% |
| Deferred charges and accrued income | 490/1 | €2,662 | €4,881 | +€2,219 | +83.3% |
| Total equity and liabilities | 10/49 | €619,946 | €348,052 | -€271,894 | -43.9% |
| Equity | 10/15 | €61,419 | €61,419 | = | 0.0% |
| Contributions | 10/11 | €55,800 | €55,800 | = | 0.0% |
| Reserves | 13 | €5,580 | €5,580 | = | 0.0% |
| Distributable reserves | 133 | €5,580 | €5,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39 | €39 | = | 0.0% |
| Amounts payable | 17/49 | €558,527 | €286,634 | -€271,894 | -48.7% |
| Amounts payable within one year | 42/48 | €558,527 | €286,634 | -€271,894 | -48.7% |
| Trade debts | 44 | €70,171 | €16,334 | -€53,837 | -76.7% |
| Suppliers | 440/4 | €70,171 | €16,334 | -€53,837 | -76.7% |
| Taxes, remuneration and social security | 45 | €146,622 | €72,446 | -€74,176 | -50.6% |
| Taxes | 450/3 | €137,715 | €63,221 | -€74,494 | -54.1% |
| Remuneration and social security | 454/9 | €8,907 | €9,224 | +€318 | +3.6% |
| Other amounts payable | 47/48 | €341,735 | €197,854 | -€143,881 | -42.1% |
| Non-recurring operating income | 76A | €4,167 | - | -€4,167 | |
| Remuneration, social security and pensions | 62 | €87,931 | €91,177 | +€3,246 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,536 | €33,262 | +€10,726 | +47.6% |
| Other operating charges | 640/8 | €1,168 | €1,464 | +€297 | +25.4% |
| Gross operating margin | 9900 | €538,081 | €315,283 | -€222,798 | -41.4% |
| Operating profit (loss) | 9901 | €426,446 | €189,380 | -€237,066 | -55.6% |
| Financial income | 75/76B | €1,044 | €952 | -€92 | -8.8% |
| Recurring financial income | 75 | €1,044 | €952 | -€92 | -8.8% |
| Financial charges | 65/66B | €3,888 | €4,206 | +€318 | +8.2% |
| Recurring financial charges | 65 | €3,888 | €4,206 | +€318 | +8.2% |
| Profit (loss) for the period before taxes | 9903 | €423,603 | €186,126 | -€237,477 | -56.1% |
| Income taxes | 67/77 | €102,690 | €44,137 | -€58,553 | -57.0% |
| Profit (loss) for the period | 9904 | €320,913 | €141,989 | -€178,924 | -55.8% |
| Profit (loss) for the period to be appropriated | 9905 | €320,913 | €141,989 | -€178,924 | -55.8% |
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 25 October 2026 via checked.be.