NOVARES: 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.
NOVARES
Largest movements
- Receivables within one year -€1,451
down €1,451 (-4.0%), from €36,215 to €34,764
- Deferred charges and accrued income +€1,109
up €1,109 (+63.2%), from €1,754 to €2,863
- Cash -€898
down €898 (-50.2%), from €1,791 to €893
mainly Trade debts (-€1,295) and Deferred charges and accrued income (-€1,109)
- Trade debts -€1,295
down €1,295 (-71.4%), from €1,812 to €518
- Accrued charges and deferred income +€478
new in 2025: €478
- Profit (loss) carried forward -€423
down €423 (-1.4%), from -€30,252 to -€30,676
- Gross operating margin +€1,576
up €1,576 (+41.0%), from -€3,841 to -€2,265
- Financial income +€1,103
up €1,103 (+75.3%), from €1,464 to €2,567
- Financial charges +€56
up €56 (+20.9%), from €269 to €326
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 | €39,760 | €38,520 | -€1,240 | -3.1% |
| Current assets | 29/58 | €39,760 | €38,520 | -€1,240 | -3.1% |
| Amounts receivable within one year | 40/41 | €36,215 | €34,764 | -€1,451 | -4.0% |
| Other amounts receivable | 41 | €36,215 | €34,764 | -€1,451 | -4.0% |
| Cash at bank and in hand | 54/58 | €1,791 | €893 | -€898 | -50.2% |
| Deferred charges and accrued income | 490/1 | €1,754 | €2,863 | +€1,109 | +63.2% |
| Total equity and liabilities | 10/49 | €39,760 | €38,520 | -€1,240 | -3.1% |
| Equity | 10/15 | €37,948 | €37,524 | -€423 | -1.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,252 | -€30,676 | -€423 | -1.4% |
| Amounts payable | 17/49 | €1,812 | €996 | -€817 | -45.1% |
| Amounts payable within one year | 42/48 | €1,812 | €518 | -€1,295 | -71.4% |
| Trade debts | 44 | €1,812 | €518 | -€1,295 | -71.4% |
| Suppliers | 440/4 | €1,812 | €518 | -€1,295 | -71.4% |
| Accrued charges and deferred income | 492/3 | - | €478 | +€478 | |
| Non-recurring operating income | 76A | €1,215 | €1,158 | -€57 | -4.7% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€3,841 | -€2,265 | +€1,576 | +41.0% |
| Operating profit (loss) | 9901 | -€4,228 | -€2,664 | +€1,564 | +37.0% |
| Financial income | 75/76B | €1,464 | €2,567 | +€1,103 | +75.3% |
| Recurring financial income | 75 | €1,464 | €2,567 | +€1,103 | +75.3% |
| Financial charges | 65/66B | €269 | €326 | +€56 | +20.9% |
| Recurring financial charges | 65 | €269 | €326 | +€56 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | -€3,034 | -€423 | +€2,610 | +86.0% |
| Profit (loss) for the period | 9904 | -€3,034 | -€423 | +€2,610 | +86.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,034 | -€423 | +€2,610 | +86.0% |
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 8 October 2026 via checked.be.