NOVASTAR: 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.
NOVASTAR
Largest movements
- Receivables within one year +€109,061
up €109,061 (+319.0%), from €34,192 to €143,253
of which Other amounts receivable: +€75,146
- Intangible fixed assets -€67,445
no longer reported in 2025 (was €67,445)
- Cash +€53,474
up €53,474 (+51.5%), from €103,893 to €157,367
mainly Net result for the year (+€84,322) and Investment in fixed assets (net) (+€30,063)
- Tangible fixed assets +€16,150
up €16,150 (+19.4%), from €83,267 to €99,417
of which Furniture and vehicles: +€11,843
- Deferred charges and accrued income -€11,360
no longer reported in 2025 (was €11,360)
- Profit (loss) carried forward +€84,322
up €84,322 (+36.5%), from €231,322 to €315,644
- Current portion of long-term debt +€8,880
new in 2025: €8,880
- Debts after one year +€7,042
new in 2025: €7,042
- Tax, wage and social debts -€6,459
down €6,459 (-64.0%), from €10,094 to €3,635
- Trade debts +€5,654
up €5,654 (+14.3%), from €39,576 to €45,230
- Gross operating margin +€29,524
up €29,524 (+37.1%), from €79,515 to €109,038
- Taxes -€13,588
no longer reported in 2025 (was €13,588)
- Depreciation +€9,807
up €9,807 (+85.8%), from €11,425 to €21,232
- Financial income +€2,708
up €2,708 (+510.5%), from €530 to €3,239
- Financial charges +€1,885
up €1,885 (+115.8%), from €1,628 to €3,512
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 | €323,416 | €423,295 | +€99,880 | +30.9% |
| Fixed assets | 21/28 | €151,471 | €100,176 | -€51,295 | -33.9% |
| Intangible fixed assets | 21 | €67,445 | - | -€67,445 | |
| Tangible fixed assets | 22/27 | €83,267 | €99,417 | +€16,150 | +19.4% |
| Land and buildings | 22 | €58,687 | €51,956 | -€6,732 | -11.5% |
| Plant, machinery and equipment | 23 | €6,623 | €17,662 | +€11,039 | +166.7% |
| Furniture and vehicles | 24 | €6,098 | €17,941 | +€11,843 | +194.2% |
| Other tangible fixed assets | 26 | €11,858 | €11,858 | = | 0.0% |
| Financial fixed assets | 28 | €759 | €759 | = | 0.0% |
| Current assets | 29/58 | €171,945 | €323,119 | +€151,174 | +87.9% |
| Amounts receivable after more than one year | 29 | €22,500 | €22,500 | = | 0.0% |
| Trade receivables | 290 | €22,500 | - | -€22,500 | |
| Other amounts receivable | 291 | - | €22,500 | +€22,500 | |
| Amounts receivable within one year | 40/41 | €34,192 | €143,253 | +€109,061 | +319.0% |
| Trade receivables | 40 | €3,732 | €37,647 | +€33,915 | +908.9% |
| Other amounts receivable | 41 | €30,460 | €105,606 | +€75,146 | +246.7% |
| Cash at bank and in hand | 54/58 | €103,893 | €157,367 | +€53,474 | +51.5% |
| Deferred charges and accrued income | 490/1 | €11,360 | - | -€11,360 | |
| Total equity and liabilities | 10/49 | €323,416 | €423,295 | +€99,880 | +30.9% |
| Equity | 10/15 | €251,802 | €336,124 | +€84,322 | +33.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,880 | €1,880 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €20 | €20 | = | 0.0% |
| Profit (loss) carried forward | 14 | €231,322 | €315,644 | +€84,322 | +36.5% |
| Amounts payable | 17/49 | €71,614 | €87,171 | +€15,557 | +21.7% |
| Amounts payable after more than one year | 17 | - | €7,042 | +€7,042 | |
| Financial debts | 170/4 | - | €7,042 | +€7,042 | |
| Amounts payable within one year | 42/48 | €71,614 | €79,688 | +€8,075 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | - | €8,880 | +€8,880 | |
| Trade debts | 44 | €39,576 | €45,230 | +€5,654 | +14.3% |
| Suppliers | 440/4 | €39,576 | €45,230 | +€5,654 | +14.3% |
| Advances received on contracts in progress | 46 | €10,600 | €10,600 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €10,094 | €3,635 | -€6,459 | -64.0% |
| Taxes | 450/3 | €10,094 | €3,635 | -€6,459 | -64.0% |
| Other amounts payable | 47/48 | €11,343 | €11,343 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €440 | +€440 | |
| Remuneration, social security and pensions | 62 | €1,760 | €1,617 | -€143 | -8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,425 | €21,232 | +€9,807 | +85.8% |
| Other operating charges | 640/8 | €2,987 | €1,593 | -€1,394 | -46.7% |
| Gross operating margin | 9900 | €79,515 | €109,038 | +€29,524 | +37.1% |
| Operating profit (loss) | 9901 | €63,342 | €84,596 | +€21,254 | +33.6% |
| Financial income | 75/76B | €530 | €3,239 | +€2,708 | +510.5% |
| Recurring financial income | 75 | €530 | €3,239 | +€2,708 | +510.5% |
| Financial charges | 65/66B | €1,628 | €3,512 | +€1,885 | +115.8% |
| Recurring financial charges | 65 | €1,628 | €3,512 | +€1,885 | +115.8% |
| Profit (loss) for the period before taxes | 9903 | €62,245 | €84,322 | +€22,077 | +35.5% |
| Income taxes | 67/77 | €13,588 | - | -€13,588 | |
| Profit (loss) for the period | 9904 | €48,657 | €84,322 | +€35,665 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,657 | €84,322 | +€35,665 | +73.3% |
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 11 October 2026 via checked.be.