NOVE: 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.
NOVE
Largest movements
- Receivables within one year +€43,380
up €43,380 (+1,131%), from €3,836 to €47,217
of which Trade receivables: +€42,730
- Tangible fixed assets +€27,734
up €27,734 (+17.6%), from €157,427 to €185,161
of which Plant, machinery and equipment: +€50,175
- Cash -€24,663
down €24,663 (-95.8%), from €25,756 to €1,093
mainly Investment in fixed assets (net) (-€62,681) and Receivables within one year (-€43,380)
- Other debts +€45,539
up €45,539 (+2,366%), from €1,924 to €47,464
- Debts after one year +€17,711
up €17,711 (+32.9%), from €53,829 to €71,540
- Trade debts -€9,174
down €9,174 (-61.3%), from €14,966 to €5,791
- Current portion of long-term debt -€6,299
down €6,299 (-45.2%), from €13,921 to €7,623
- Profit (loss) carried forward -€5,901
down €5,901 (-6.8%), from €87,344 to €81,444
- Gross operating margin -€9,515
down €9,515 (-19.1%), from €49,827 to €40,312
- Depreciation +€7,333
up €7,333 (+26.6%), from €27,590 to €34,922
- Financial charges +€3,661
up €3,661 (+195%), from €1,876 to €5,538
- Staff costs -€3,564
no longer reported in 2025 (was €3,564)
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 | €197,458 | €243,934 | +€46,476 | +23.5% |
| Fixed assets | 21/28 | €157,829 | €185,588 | +€27,759 | +17.6% |
| Tangible fixed assets | 22/27 | €157,427 | €185,161 | +€27,734 | +17.6% |
| Land and buildings | 22 | €100,377 | €88,132 | -€12,245 | -12.2% |
| Plant, machinery and equipment | 23 | €1,368 | €51,543 | +€50,175 | +3,668% |
| Furniture and vehicles | 24 | €55,682 | €45,485 | -€10,197 | -18.3% |
| Financial fixed assets | 28 | €402 | €427 | +€25 | +6.2% |
| Current assets | 29/58 | €39,629 | €58,347 | +€18,718 | +47.2% |
| Stocks and contracts in progress | 3 | €10,036 | €10,036 | +€0 | 0.0% |
| Stocks | 30/36 | €10,036 | €10,036 | +€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €3,836 | €47,217 | +€43,380 | +1,131% |
| Trade receivables | 40 | €3,159 | €45,889 | +€42,730 | +1,353% |
| Other amounts receivable | 41 | €678 | €1,328 | +€650 | +95.9% |
| Cash at bank and in hand | 54/58 | €25,756 | €1,093 | -€24,663 | -95.8% |
| Total equity and liabilities | 10/49 | €197,458 | €243,934 | +€46,476 | +23.5% |
| Equity | 10/15 | €107,804 | €101,904 | -€5,901 | -5.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €87,344 | €81,444 | -€5,901 | -6.8% |
| Amounts payable | 17/49 | €89,654 | €142,031 | +€52,377 | +58.4% |
| Amounts payable after more than one year | 17 | €53,829 | €71,540 | +€17,711 | +32.9% |
| Financial debts | 170/4 | €53,829 | €71,540 | +€17,711 | +32.9% |
| Amounts payable within one year | 42/48 | €35,825 | €69,248 | +€33,424 | +93.3% |
| Current portion of amounts payable after more than one year | 42 | €13,921 | €7,623 | -€6,299 | -45.2% |
| Financial debts | 43 | - | €4,679 | +€4,679 | |
| Credit institutions | 430/8 | - | €4,679 | +€4,679 | |
| Trade debts | 44 | €14,966 | €5,791 | -€9,174 | -61.3% |
| Suppliers | 440/4 | €14,966 | €5,791 | -€9,174 | -61.3% |
| Taxes, remuneration and social security | 45 | €5,014 | €3,691 | -€1,322 | -26.4% |
| Taxes | 450/3 | €5,014 | €3,691 | -€1,322 | -26.4% |
| Other amounts payable | 47/48 | €1,924 | €47,464 | +€45,539 | +2,366% |
| Accrued charges and deferred income | 492/3 | - | €1,242 | +€1,242 | |
| Remuneration, social security and pensions | 62 | €3,564 | - | -€3,564 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,590 | €34,922 | +€7,333 | +26.6% |
| Other operating charges | 640/8 | €439 | €462 | +€22 | +5.1% |
| Gross operating margin | 9900 | €49,827 | €40,312 | -€9,515 | -19.1% |
| Operating profit (loss) | 9901 | €18,234 | €4,928 | -€13,306 | -73.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,876 | €5,538 | +€3,661 | +195% |
| Recurring financial charges | 65 | €1,876 | €5,538 | +€3,661 | +195% |
| Profit (loss) for the period before taxes | 9903 | €16,358 | -€609 | -€16,968 | |
| Income taxes | 67/77 | €5,273 | €5,291 | +€19 | +0.4% |
| Profit (loss) for the period | 9904 | €11,086 | -€5,901 | -€16,986 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,086 | -€5,901 | -€16,986 |
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 20 October 2026 via checked.be.