NOVATIO IMMO: 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.
What changed
NOVATIO IMMO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€150,972
2024 · €119,659+€31,313
Equity
€7.0m
2024 · €4.6m+€2.5m
Cash
€966,459
2024 · €1.1m-€139,814
Balance sheet total
€11.6m
2024 · €9.6m+€2.0m
Largest movements
Assets
- Tangible fixed assets +€2.2m
up €2.2m (+26.2%), from €8.4m to €10.6m
of which Land and buildings: +€2.0m
- Cash -€139,814
down €139,814 (-12.6%), from €1.1m to €966,459
mainly Investment in fixed assets (net) (-€2.6m) and Debts after one year (-€442,442)
Equity and liabilities
- Revaluation surpluses +€2.3m
new in 2025: €2.3m
- Debts after one year -€442,442
down €442,442 (-9.7%), from €4.6m to €4.1m
- Reserves +€150,972
up €150,972 (+4.1%), from €3.7m to €3.8m
of which Distributable reserves: +€150,972
Income statement
- Services and other goods -€57,340
down €57,340 (-21.8%), from €263,142 to €205,802
- Depreciation +€18,517
up €18,517 (+4.5%), from €412,902 to €431,419
- Taxes +€10,729
up €10,729 (+27.1%), from €39,628 to €50,357
of which Taxes: +€10,729
- Turnover +€10,023
up €10,023 (+1.0%), from €966,175 to €976,198
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.
Result 2024
€119,659
Turnover
+€10,023
Services and other goods
+€57,340
Depreciation
-€18,517
Other operating charges
-€3,549
Financial income
-€5,712
Financial charges
+€2,458
Taxes
-€10,729
Result 2025
€150,972
raises the resultlowers the result
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.
From operations
+€614,802
Investment
-€2.6m
Financing
+€1.9m
Cash 2024
€1.1m
From operations (derived)
+€614,802
Net result for the year
+€150,972
Depreciation
+€431,419
Receivables within one year
+€35,661
Smaller working-capital items
+€5,082
Trade debts
-€8,332
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.6m
Financing
+€1.9m
Debts after one year
-€442,442
Contributions, distributions and other
+€2.3m
Cash 2025
€966,459
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,593,710 | €11,628,365 | +€2.0m | +21.2% |
| Fixed assets | 21/28 | €8,430,566 | €10,637,971 | +€2.2m | +26.2% |
| Tangible fixed assets | 22/27 | €8,430,566 | €10,637,971 | +€2.2m | +26.2% |
| Land and buildings | 22 | €8,377,411 | €10,366,213 | +€2.0m | +23.7% |
| Plant, machinery and equipment | 23 | €39,380 | €35,287 | -€4,093 | -10.4% |
| Furniture and vehicles | 24 | €13,775 | €12,350 | -€1,425 | -10.3% |
| Assets under construction and advance payments | 27 | €0 | €224,121 | +€224,121 | |
| Current assets | 29/58 | €1,163,144 | €990,394 | -€172,750 | -14.9% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €43,762 | €8,101 | -€35,661 | -81.5% |
| Trade receivables | 40 | €19,853 | €1,743 | -€18,110 | -91.2% |
| Other amounts receivable | 41 | €23,908 | €6,357 | -€17,551 | -73.4% |
| Current investments | 50/53 | €0 | - | = | |
| Other investments | 51/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,106,274 | €966,459 | -€139,814 | -12.6% |
| Deferred charges and accrued income | 490/1 | €13,108 | €15,834 | +€2,726 | +20.8% |
| Total equity and liabilities | 10/49 | €9,593,710 | €11,628,365 | +€2.0m | +21.2% |
| Equity | 10/15 | €4,555,827 | €7,033,448 | +€2.5m | +54.4% |
| Contributions | 10/11 | €901,144 | €901,144 | = | 0.0% |
| Capital | 10 | €901,144 | €901,144 | = | 0.0% |
| Issued capital | 100 | €901,144 | €901,144 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,326,649 | +€2.3m | |
| Reserves | 13 | €3,654,682 | €3,805,655 | +€150,972 | +4.1% |
| Non-distributable reserves | 130/1 | €90,114 | €90,114 | = | 0.0% |
| Legal reserve | 130 | €90,114 | €90,114 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,738 | €3,738 | = | 0.0% |
| Distributable reserves | 133 | €3,560,830 | €3,711,802 | +€150,972 | +4.2% |
| Amounts payable | 17/49 | €5,037,883 | €4,594,917 | -€442,966 | -8.8% |
| Amounts payable after more than one year | 17 | €4,570,956 | €4,128,514 | -€442,442 | -9.7% |
| Financial debts | 170/4 | €4,570,956 | €4,128,514 | -€442,442 | -9.7% |
| Credit institutions | 173 | €4,570,956 | €4,128,514 | -€442,442 | -9.7% |
| Amounts payable within one year | 42/48 | €466,927 | €465,660 | -€1,267 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €442,442 | €442,442 | = | 0.0% |
| Trade debts | 44 | €24,484 | €16,152 | -€8,332 | -34.0% |
| Suppliers | 440/4 | €24,484 | €16,152 | -€8,332 | -34.0% |
| Taxes, remuneration and social security | 45 | - | €3,484 | +€3,484 | |
| Taxes | 450/3 | - | €3,484 | +€3,484 | |
| Other amounts payable | 47/48 | - | €3,581 | +€3,581 | |
| Accrued charges and deferred income | 492/3 | - | €743 | +€743 | |
| Operating income | 70/76A | €966,175 | €976,198 | +€10,023 | +1.0% |
| Turnover | 70 | €966,175 | €976,198 | +€10,023 | +1.0% |
| Operating charges | 60/66A | €731,817 | €696,543 | -€35,274 | -4.8% |
| Services and other goods | 61 | €263,142 | €205,802 | -€57,340 | -21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €412,902 | €431,419 | +€18,517 | +4.5% |
| Other operating charges | 640/8 | €55,773 | €59,322 | +€3,549 | +6.4% |
| Operating profit (loss) | 9901 | €234,358 | €279,655 | +€45,297 | +19.3% |
| Financial income | 75/76B | €11,956 | €6,243 | -€5,712 | -47.8% |
| Recurring financial income | 75 | €11,956 | €6,243 | -€5,712 | -47.8% |
| Income from current assets | 751 | €11,956 | €6,243 | -€5,712 | -47.8% |
| Other financial income | 752/9 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €87,027 | €84,569 | -€2,458 | -2.8% |
| Recurring financial charges | 65 | €87,027 | €84,569 | -€2,458 | -2.8% |
| Debt charges | 650 | €85,472 | €84,328 | -€1,144 | -1.3% |
| Other financial charges | 652/9 | €1,554 | €241 | -€1,314 | -84.5% |
| Profit (loss) for the period before taxes | 9903 | €159,287 | €201,330 | +€42,043 | +26.4% |
| Income taxes | 67/77 | €39,628 | €50,357 | +€10,729 | +27.1% |
| Taxes | 670/3 | €39,628 | €50,357 | +€10,729 | +27.1% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €119,659 | €150,972 | +€31,313 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €119,659 | €150,972 | +€31,313 | +26.2% |
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 27 October 2026 via checked.be.