NOVEN BXL: what changed
What changed
NOVEN BXL
NACE 35.110, Production of electricity from non-renewable sources
filed annual accounts (NBB)
Net result for the year
€1.3m
2024 · €1.4m-€20,833
Equity
€3.3m
2024 · €3.2m+€108,570
Cash
€293,092
2024 · €318,050-€24,957
Balance sheet total
€13.9m
2024 · €13.9m+€10,538
Largest movements
Assets
- Tangible fixed assets -€781,113
down €781,113 (-7.5%), from €10.5m to €9.7m
- Receivables within one year +€351,981
up €351,981 (+16.5%), from €2.1m to €2.5m
of which Trade receivables: +€914,308
- Current investments +€285,648
up €285,648 (+119%), from €239,352 to €525,000
- Deferred charges and accrued income +€186,752
up €186,752 (+26.0%), from €718,587 to €905,340
Equity and liabilities
- Reserves +€631,500
up €631,500 (+107%), from €589,400 to €1.2m
- Profit (loss) carried forward -€495,496
down €495,496 (-21.5%), from €2.3m to €1.8m
- Trade debts -€432,814
down €432,814 (-62.6%), from €691,902 to €259,088
- Current portion of long-term debt +€258,728
up €258,728 (+20.9%), from €1.2m to €1.5m
- Tax, wage and social debts +€235,672
up €235,672 (+278%), from €84,675 to €320,347
Income statement
- Gross operating margin +€376,608
up €376,608 (+11.7%), from €3.2m to €3.6m
- Depreciation +€291,149
up €291,149 (+26.4%), from €1.1m to €1.4m
- Taxes +€152,363
up €152,363 (+51.3%), from €297,007 to €449,370
- Provisions -€41,477
down €41,477 (-19.2%), from €215,656 to €174,179
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.4m
Gross operating margin
+€376,608
Depreciation
-€291,149
Provisions
+€41,477
Other operating charges
-€1,293
Financial income
+€20,894
Financial charges
-€15,006
Taxes
-€152,363
Result 2025
€1.3m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.1m
Investment
-€897,491
Financing
-€1.2m
Cash 2024
€318,050
From operations (derived)
+€2.1m
Net result for the year
+€1.3m
Depreciation
+€1.4m
Stocks and contracts
+€7,773
Receivables within one year
-€351,981
Deferred charges and accrued income
-€186,752
Provisions
+€174,179
Trade debts
-€432,814
Tax, wage and social debts
+€235,672
Other debts
-€138,620
Accrued charges and deferred income
+€19,040
Investment (derived)
-€897,491
Investment in fixed assets (net)
-€611,843
Current investments
-€285,648
Financing
-€1.2m
Debts after one year
-€214,217
Current portion of long-term debt
+€258,728
Contributions, distributions and other
-€1.2m
Cash 2025
€293,092
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,869,909 | €13,880,447 | +€10,538 | +0.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €10,450,473 | €9,669,359 | -€781,113 | -7.5% |
| Tangible fixed assets | 22/27 | €10,450,473 | €9,669,359 | -€781,113 | -7.5% |
| Plant, machinery and equipment | 23 | €10,450,473 | €9,669,359 | -€781,113 | -7.5% |
| Current assets | 29/58 | €3,419,436 | €4,211,087 | +€791,651 | +23.2% |
| Stocks and contracts in progress | 3 | €11,112 | €3,339 | -€7,773 | -70.0% |
| Stocks | 30/36 | €11,112 | €3,339 | -€7,773 | -70.0% |
| Amounts receivable within one year | 40/41 | €2,132,336 | €2,484,317 | +€351,981 | +16.5% |
| Trade receivables | 40 | €1,550,717 | €2,465,025 | +€914,308 | +59.0% |
| Other amounts receivable | 41 | €581,619 | €19,292 | -€562,327 | -96.7% |
| Current investments | 50/53 | €239,352 | €525,000 | +€285,648 | +119% |
| Cash at bank and in hand | 54/58 | €318,050 | €293,092 | -€24,957 | -7.8% |
| Deferred charges and accrued income | 490/1 | €718,587 | €905,340 | +€186,752 | +26.0% |
| Total equity and liabilities | 10/49 | €13,869,909 | €13,880,447 | +€10,538 | +0.1% |
| Equity | 10/15 | €3,178,482 | €3,287,052 | +€108,570 | +3.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €589,400 | €1,220,900 | +€631,500 | +107% |
| Tax-exempt reserves | 132 | €589,400 | €1,220,900 | +€631,500 | +107% |
| Profit (loss) carried forward | 14 | €2,302,986 | €1,807,490 | -€495,496 | -21.5% |
| Investment grants | 15 | €285,096 | €257,662 | -€27,434 | -9.6% |
| Provisions and deferred taxes | 16 | €531,452 | €705,631 | +€174,179 | +32.8% |
| Provisions for liabilities and charges | 160/5 | €531,452 | €705,631 | +€174,179 | +32.8% |
| Major repairs and maintenance | 162 | €531,452 | €705,631 | +€174,179 | +32.8% |
| Amounts payable | 17/49 | €10,159,975 | €9,887,763 | -€272,212 | -2.7% |
| Amounts payable after more than one year | 17 | €7,601,367 | €7,387,150 | -€214,217 | -2.8% |
| Financial debts | 170/4 | €7,601,367 | €7,387,150 | -€214,217 | -2.8% |
| Amounts payable within one year | 42/48 | €2,154,779 | €2,077,745 | -€77,035 | -3.6% |
| Current portion of amounts payable after more than one year | 42 | €1,239,582 | €1,498,310 | +€258,728 | +20.9% |
| Trade debts | 44 | €691,902 | €259,088 | -€432,814 | -62.6% |
| Suppliers | 440/4 | €691,902 | €259,088 | -€432,814 | -62.6% |
| Taxes, remuneration and social security | 45 | €84,675 | €320,347 | +€235,672 | +278% |
| Taxes | 450/3 | €84,675 | €320,347 | +€235,672 | +278% |
| Other amounts payable | 47/48 | €138,620 | €0 | -€138,620 | -100% |
| Accrued charges and deferred income | 492/3 | €403,829 | €422,869 | +€19,040 | +4.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,101,807 | €1,392,956 | +€291,149 | +26.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €215,656 | €174,179 | -€41,477 | -19.2% |
| Other operating charges | 640/8 | €968 | €2,261 | +€1,293 | +134% |
| Gross operating margin | 9900 | €3,210,589 | €3,587,197 | +€376,608 | +11.7% |
| Operating profit (loss) | 9901 | €1,892,159 | €2,017,802 | +€125,643 | +6.6% |
| Financial income | 75/76B | €40,150 | €61,044 | +€20,894 | +52.0% |
| Recurring financial income | 75 | €40,150 | €61,044 | +€20,894 | +52.0% |
| Financial charges | 65/66B | €278,465 | €293,471 | +€15,006 | +5.4% |
| Recurring financial charges | 65 | €278,465 | €293,471 | +€15,006 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €1,653,844 | €1,785,375 | +€131,531 | +8.0% |
| Income taxes | 67/77 | €297,007 | €449,370 | +€152,363 | +51.3% |
| Profit (loss) for the period | 9904 | €1,356,837 | €1,336,004 | -€20,833 | -1.5% |
| Transfer to tax-exempt reserves | 689 | €589,400 | €631,500 | +€42,100 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €767,437 | €704,504 | -€62,933 | -8.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.