Novation: 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.
Novation
Largest movements
- Tangible fixed assets -€51,939
down €51,939 (-34.2%), from €151,753 to €99,814
of which Leasing and similar rights: -€38,954
- Cash +€37,200
up €37,200 (+27.5%), from €135,515 to €172,716
mainly Net result for the year (+€76,645) and Depreciation (+€63,005)
- Receivables within one year -€7,025
down €7,025 (-4.1%), from €171,443 to €164,419
of which Trade receivables: -€7,942
- Intangible fixed assets -€6,880
down €6,880 (-30.2%), from €22,757 to €15,877
- Other debts +€60,200
up €60,200, from €0 to €60,200
- Debts after one year -€43,093
down €43,093 (-45.6%), from €94,539 to €51,445
- Tax, wage and social debts -€42,250
down €42,250 (-33.3%), from €126,688 to €84,438
of which Taxes: -€55,238
- Profit (loss) carried forward +€16,645
up €16,645 (+55.2%), from €30,166 to €46,811
- Accrued charges and deferred income -€12,493
down €12,493 (-92.6%), from €13,493 to €1,000
- Staff costs -€40,055
down €40,055 (-8.2%), from €489,911 to €449,856
- Gross operating margin +€37,918
up €37,918 (+6.7%), from €570,063 to €607,981
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 | €495,982 | €469,808 | -€26,175 | -5.3% |
| Fixed assets | 21/28 | €178,090 | €119,271 | -€58,819 | -33.0% |
| Intangible fixed assets | 21 | €22,757 | €15,877 | -€6,880 | -30.2% |
| Tangible fixed assets | 22/27 | €151,753 | €99,814 | -€51,939 | -34.2% |
| Furniture and vehicles | 24 | €23,315 | €10,331 | -€12,984 | -55.7% |
| Leasing and similar rights | 25 | €128,438 | €89,484 | -€38,954 | -30.3% |
| Financial fixed assets | 28 | €3,580 | €3,580 | = | 0.0% |
| Current assets | 29/58 | €317,893 | €350,537 | +€32,644 | +10.3% |
| Amounts receivable within one year | 40/41 | €171,443 | €164,419 | -€7,025 | -4.1% |
| Trade receivables | 40 | €163,866 | €155,925 | -€7,942 | -4.8% |
| Other amounts receivable | 41 | €7,577 | €8,494 | +€917 | +12.1% |
| Cash at bank and in hand | 54/58 | €135,515 | €172,716 | +€37,200 | +27.5% |
| Deferred charges and accrued income | 490/1 | €10,934 | €13,402 | +€2,468 | +22.6% |
| Total equity and liabilities | 10/49 | €495,982 | €469,808 | -€26,175 | -5.3% |
| Equity | 10/15 | €161,258 | €177,904 | +€16,645 | +10.3% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Capital | 10 | €68,600 | €68,600 | = | 0.0% |
| Issued capital | 100 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €62,493 | €62,493 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,860 | €6,860 | = | 0.0% |
| Legal reserve | 130 | €6,860 | €6,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,790 | €3,790 | = | 0.0% |
| Distributable reserves | 133 | €51,843 | €51,843 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,166 | €46,811 | +€16,645 | +55.2% |
| Amounts payable | 17/49 | €334,724 | €291,904 | -€42,820 | -12.8% |
| Amounts payable after more than one year | 17 | €94,539 | €51,445 | -€43,093 | -45.6% |
| Financial debts | 170/4 | €94,539 | €51,445 | -€43,093 | -45.6% |
| Amounts payable within one year | 42/48 | €226,692 | €239,458 | +€12,766 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €48,379 | €43,093 | -€5,286 | -10.9% |
| Trade debts | 44 | €51,626 | €51,728 | +€102 | +0.2% |
| Suppliers | 440/4 | €51,626 | €51,728 | +€102 | +0.2% |
| Taxes, remuneration and social security | 45 | €126,688 | €84,438 | -€42,250 | -33.3% |
| Taxes | 450/3 | €73,391 | €18,153 | -€55,238 | -75.3% |
| Remuneration and social security | 454/9 | €53,296 | €66,284 | +€12,988 | +24.4% |
| Other amounts payable | 47/48 | €0 | €60,200 | +€60,200 | |
| Accrued charges and deferred income | 492/3 | €13,493 | €1,000 | -€12,493 | -92.6% |
| Remuneration, social security and pensions | 62 | €489,911 | €449,856 | -€40,055 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,787 | €63,005 | +€218 | +0.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €2,103 | €3,969 | +€1,866 | +88.7% |
| Gross operating margin | 9900 | €570,063 | €607,981 | +€37,918 | +6.7% |
| Operating profit (loss) | 9901 | €15,262 | €91,151 | +€75,889 | +497% |
| Financial income | 75/76B | €25 | €780 | +€756 | +3,071% |
| Recurring financial income | 75 | €25 | €780 | +€756 | +3,071% |
| Financial charges | 65/66B | €4,755 | €4,651 | -€104 | -2.2% |
| Recurring financial charges | 65 | €4,755 | €4,651 | -€104 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €10,531 | €87,280 | +€76,749 | +729% |
| Income taxes | 67/77 | €8,015 | €10,634 | +€2,619 | +32.7% |
| Profit (loss) for the period | 9904 | €2,516 | €76,645 | +€74,130 | +2,947% |
| Profit (loss) for the period to be appropriated | 9905 | €2,516 | €76,645 | +€74,130 | +2,947% |
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 1 November 2026 via checked.be.