NOVEMAX: what changed
Two fiscal 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.
NOVEMAX
Largest movements
- Receivables within one year +€31,267
up €31,267 (+19.0%), from €164,166 to €195,433
- Other debts -€38,548
down €38,548 (-20.2%), from €190,418 to €151,870
- Trade debts +€37,391
up €37,391 (+76.3%), from €49,031 to €86,422
- Profit (loss) carried forward +€37,107
up €37,107 (+46.6%), from -€79,697 to -€42,590
- Tax, wage and social debts -€3,961
down €3,961 (-17.6%), from €22,509 to €18,549
of which Remuneration and social security: -€6,232
- Gross operating margin +€27,676
up €27,676 (+36.4%), from €76,116 to €103,791
- Staff costs +€3,199
up €3,199 (+5.8%), from €54,988 to €58,188
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 | €202,262 | €234,251 | +€31,989 | +15.8% |
| Fixed assets | 21/28 | €6,044 | €4,741 | -€1,303 | -21.6% |
| Tangible fixed assets | 22/27 | €5,864 | €4,561 | -€1,303 | -22.2% |
| Plant, machinery and equipment | 23 | €1,184 | €309 | -€875 | -73.9% |
| Furniture and vehicles | 24 | €4,680 | €4,252 | -€428 | -9.1% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €196,218 | €229,510 | +€33,292 | +17.0% |
| Stocks and contracts in progress | 3 | €19,900 | €22,088 | +€2,188 | +11.0% |
| Stocks | 30/36 | €19,900 | €22,088 | +€2,188 | +11.0% |
| Amounts receivable within one year | 40/41 | €164,166 | €195,433 | +€31,267 | +19.0% |
| Trade receivables | 40 | €164,166 | €195,433 | +€31,267 | +19.0% |
| Cash at bank and in hand | 54/58 | €205 | €887 | +€682 | +333.2% |
| Deferred charges and accrued income | 490/1 | €11,947 | €11,103 | -€844 | -7.1% |
| Total equity and liabilities | 10/49 | €202,262 | €234,251 | +€31,989 | +15.8% |
| Equity | 10/15 | -€59,697 | -€22,590 | +€37,107 | +62.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,697 | -€42,590 | +€37,107 | +46.6% |
| Amounts payable | 17/49 | €261,959 | €256,841 | -€5,118 | -2.0% |
| Amounts payable within one year | 42/48 | €261,959 | €256,841 | -€5,118 | -2.0% |
| Trade debts | 44 | €49,031 | €86,422 | +€37,391 | +76.3% |
| Suppliers | 440/4 | €49,031 | €86,422 | +€37,391 | +76.3% |
| Taxes, remuneration and social security | 45 | €22,509 | €18,549 | -€3,961 | -17.6% |
| Taxes | 450/3 | €9,501 | €11,773 | +€2,272 | +23.9% |
| Remuneration and social security | 454/9 | €13,008 | €6,776 | -€6,232 | -47.9% |
| Other amounts payable | 47/48 | €190,418 | €151,870 | -€38,548 | -20.2% |
| Remuneration, social security and pensions | 62 | €54,988 | €58,188 | +€3,199 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,426 | €3,286 | -€140 | -4.1% |
| Other operating charges | 640/8 | €4,037 | €4,061 | +€24 | +0.6% |
| Gross operating margin | 9900 | €76,116 | €103,791 | +€27,676 | +36.4% |
| Operating profit (loss) | 9901 | €13,664 | €38,257 | +€24,592 | +180.0% |
| Financial charges | 65/66B | €1,378 | €998 | -€379 | -27.5% |
| Recurring financial charges | 65 | €1,378 | €998 | -€379 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | €12,287 | €37,258 | +€24,972 | +203.2% |
| Income taxes | 67/77 | €149 | €151 | +€3 | +1.9% |
| Profit (loss) for the period | 9904 | €12,138 | €37,107 | +€24,969 | +205.7% |
| Profit (loss) for the period to be appropriated | 9905 | €12,138 | €37,107 | +€24,969 | +205.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.