NOVAX: 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.
NOVAX
Largest movements
- Tangible fixed assets -€36,160
down €36,160 (-4.9%), from €732,476 to €696,317
of which Land and buildings: -€35,170
- Debts after one year -€72,037
no longer reported in 2025 (was €72,037)
- Reserves +€50,000
up €50,000 (+64.9%), from €77,000 to €127,000
- Gross operating margin +€16,756
up €16,756 (+15.5%), from €107,938 to €124,694
- Taxes +€6,785
up €6,785 (+40.6%), from €16,718 to €23,503
- Financial charges -€3,002
down €3,002 (-39.4%), from €7,622 to €4,621
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 | €770,761 | €740,630 | -€30,132 | -3.9% |
| Fixed assets | 21/28 | €732,476 | €696,317 | -€36,160 | -4.9% |
| Tangible fixed assets | 22/27 | €732,476 | €696,317 | -€36,160 | -4.9% |
| Land and buildings | 22 | €727,926 | €692,757 | -€35,170 | -4.8% |
| Other tangible fixed assets | 26 | €4,550 | €3,560 | -€990 | -21.8% |
| Current assets | 29/58 | €38,285 | €44,313 | +€6,028 | +15.7% |
| Current investments | 50/53 | €25,000 | €30,000 | +€5,000 | +20.0% |
| Cash at bank and in hand | 54/58 | €2,543 | €4,127 | +€1,584 | +62.3% |
| Deferred charges and accrued income | 490/1 | €10,742 | €10,187 | -€556 | -5.2% |
| Total equity and liabilities | 10/49 | €770,761 | €740,630 | -€30,132 | -3.9% |
| Equity | 10/15 | €329,203 | €379,713 | +€50,509 | +15.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €77,000 | €127,000 | +€50,000 | +64.9% |
| Distributable reserves | 133 | €77,000 | €127,000 | +€50,000 | +64.9% |
| Profit (loss) carried forward | 14 | €2,203 | €2,713 | +€509 | +23.1% |
| Amounts payable | 17/49 | €441,558 | €360,917 | -€80,641 | -18.3% |
| Amounts payable after more than one year | 17 | €72,037 | - | -€72,037 | |
| Financial debts | 170/4 | €72,037 | - | -€72,037 | |
| Amounts payable within one year | 42/48 | €367,827 | €356,458 | -€11,369 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €75,598 | €72,037 | -€3,561 | -4.7% |
| Taxes, remuneration and social security | 45 | €4,650 | €1,842 | -€2,808 | -60.4% |
| Taxes | 450/3 | €4,650 | €1,842 | -€2,808 | -60.4% |
| Other amounts payable | 47/48 | €287,580 | €282,580 | -€5,000 | -1.7% |
| Accrued charges and deferred income | 492/3 | €1,694 | €4,459 | +€2,765 | +163.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,160 | €36,160 | = | 0.0% |
| Other operating charges | 640/8 | €9,600 | €9,901 | +€301 | +3.1% |
| Gross operating margin | 9900 | €107,938 | €124,694 | +€16,756 | +15.5% |
| Operating profit (loss) | 9901 | €62,178 | €78,633 | +€16,455 | +26.5% |
| Financial charges | 65/66B | €7,622 | €4,621 | -€3,002 | -39.4% |
| Recurring financial charges | 65 | €7,622 | €4,621 | -€3,002 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | €54,556 | €74,012 | +€19,457 | +35.7% |
| Income taxes | 67/77 | €16,718 | €23,503 | +€6,785 | +40.6% |
| Profit (loss) for the period | 9904 | €37,838 | €50,509 | +€12,671 | +33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €37,838 | €50,509 | +€12,671 | +33.5% |
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 12 October 2026 via checked.be.