NOVAVO: 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.
NOVAVO
Largest movements
- Receivables within one year -€56,296
down €56,296 (-10.6%), from €530,037 to €473,741
of which Other amounts receivable: -€48,998
- Cash +€26,085
up €26,085 (+30.4%), from €85,736 to €111,821
mainly Net result for the year (+€86,715) and Other debts (+€60,158)
- Tangible fixed assets -€17,196
down €17,196 (-3.0%), from €564,587 to €547,391
of which Land and buildings: -€14,425
- Reserves -€72,827
down €72,827 (-9.4%), from €774,443 to €701,616
of which Distributable reserves: -€72,827
- Other debts +€60,158
up €60,158 (+56.9%), from €105,767 to €165,925
- Trade debts -€53,444
down €53,444 (-86.7%), from €61,612 to €8,168
of which Suppliers: -€53,444
- Current portion of long-term debt -€33,531
down €33,531 (-43.6%), from €76,941 to €43,409
- Debts after one year +€33,097
up €33,097 (+123.5%), from €26,792 to €59,889
- Gross operating margin +€41,350
up €41,350 (+25.5%), from €162,034 to €203,384
- Financial charges +€15,088
up €15,088 (+384.9%), from €3,920 to €19,008
- Depreciation +€7,076
up €7,076 (+15.5%), from €45,657 to €52,733
- Taxes +€5,465
up €5,465 (+19.0%), from €28,728 to €34,193
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 | €1,211,700 | €1,162,739 | -€48,962 | -4.0% |
| Fixed assets | 21/28 | €564,587 | €547,391 | -€17,196 | -3.0% |
| Tangible fixed assets | 22/27 | €564,587 | €547,391 | -€17,196 | -3.0% |
| Land and buildings | 22 | €503,771 | €489,345 | -€14,425 | -2.9% |
| Plant, machinery and equipment | 23 | €0 | €11,378 | +€11,378 | |
| Furniture and vehicles | 24 | €60,817 | €46,668 | -€14,149 | -23.3% |
| Current assets | 29/58 | €647,113 | €615,348 | -€31,766 | -4.9% |
| Amounts receivable within one year | 40/41 | €530,037 | €473,741 | -€56,296 | -10.6% |
| Trade receivables | 40 | €7,412 | €114 | -€7,298 | -98.5% |
| Other amounts receivable | 41 | €522,626 | €473,627 | -€48,998 | -9.4% |
| Current investments | 50/53 | €25,000 | €25,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €85,736 | €111,821 | +€26,085 | +30.4% |
| Deferred charges and accrued income | 490/1 | €6,340 | €4,785 | -€1,554 | -24.5% |
| Total equity and liabilities | 10/49 | €1,211,700 | €1,162,739 | -€48,962 | -4.0% |
| Equity | 10/15 | €904,643 | €832,358 | -€72,285 | -8.0% |
| Contributions | 10/11 | €130,200 | €130,200 | = | 0.0% |
| Reserves | 13 | €774,443 | €701,616 | -€72,827 | -9.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €774,443 | €701,616 | -€72,827 | -9.4% |
| Profit (loss) carried forward | 14 | - | €542 | +€542 | |
| Amounts payable | 17/49 | €307,057 | €330,381 | +€23,323 | +7.6% |
| Amounts payable after more than one year | 17 | €26,792 | €59,889 | +€33,097 | +123.5% |
| Financial debts | 170/4 | €26,792 | €59,889 | +€33,097 | +123.5% |
| Amounts payable within one year | 42/48 | €275,765 | €253,669 | -€22,096 | -8.0% |
| Current portion of amounts payable after more than one year | 42 | €76,941 | €43,409 | -€33,531 | -43.6% |
| Financial debts | 43 | €125 | €80 | -€44 | -35.5% |
| Credit institutions | 430/8 | €125 | €80 | -€44 | -35.5% |
| Trade debts | 44 | €61,612 | €8,168 | -€53,444 | -86.7% |
| Suppliers | 440/4 | €61,612 | €8,168 | -€53,444 | -86.7% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,320 | €36,087 | +€4,766 | +15.2% |
| Taxes | 450/3 | €28,770 | €33,537 | +€4,766 | +16.6% |
| Remuneration and social security | 454/9 | €2,550 | €2,550 | = | 0.0% |
| Other amounts payable | 47/48 | €105,767 | €165,925 | +€60,158 | +56.9% |
| Accrued charges and deferred income | 492/3 | €4,500 | €16,822 | +€12,322 | +273.8% |
| Non-recurring operating income | 76A | €0 | €20,814 | +€20,814 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,657 | €52,733 | +€7,076 | +15.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,786 | €10,738 | -€48 | -0.4% |
| Gross operating margin | 9900 | €162,034 | €203,384 | +€41,350 | +25.5% |
| Operating profit (loss) | 9901 | €105,591 | €139,913 | +€34,322 | +32.5% |
| Financial income | 75/76B | €47 | €3 | -€44 | -93.2% |
| Recurring financial income | 75 | €47 | €3 | -€44 | -93.2% |
| Financial charges | 65/66B | €3,920 | €19,008 | +€15,088 | +384.9% |
| Recurring financial charges | 65 | €3,920 | €19,008 | +€15,088 | +384.9% |
| Profit (loss) for the period before taxes | 9903 | €101,718 | €120,908 | +€19,190 | +18.9% |
| Income taxes | 67/77 | €28,728 | €34,193 | +€5,465 | +19.0% |
| Profit (loss) for the period | 9904 | €72,990 | €86,715 | +€13,725 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €72,990 | €86,715 | +€13,725 | +18.8% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.