NOVEN NOORD: what changed
What changed
NOVEN NOORD
NACE 35.300, Electricity, gas, steam and air conditioning supply
filed annual accounts (NBB)
Net result for the year
€135,044
2024 · €201,571-€66,527
Equity
€10.0m
2024 · €7.0m+€3.1m
Cash
€644,228
2024 · €413,116+€231,112
Balance sheet total
€18.0m
2024 · €13.0m+€5.1m
Largest movements
Assets
- Tangible fixed assets +€5.4m
up €5.4m (+51.3%), from €10.6m to €16.0m
- Receivables within one year -€565,370
down €565,370 (-30.3%), from €1.9m to €1.3m
of which Trade receivables: -€618,114
- Cash +€231,112
up €231,112 (+55.9%), from €413,116 to €644,228
mainly Contributions, distributions and other (+€2.9m) and Debts after one year (+€1.6m)
Equity and liabilities
- Investment grants +€2.9m
up €2.9m (+45.4%), from €6.4m to €9.3m
- Debts after one year +€1.6m
up €1.6m (+144%), from €1.1m to €2.7m
- Provisions +€1.1m
up €1.1m (+52.6%), from €2.0m to €3.1m
of which Deferred taxes: +€996,918
- Trade debts -€710,789
down €710,789 (-26.0%), from €2.7m to €2.0m
Income statement
- Depreciation +€176,228
up €176,228 (+62.0%), from €284,016 to €460,244
- Gross operating margin +€136,699
up €136,699 (+40.4%), from €338,518 to €475,218
- Financial income +€79,452
up €79,452 (+49.5%), from €160,383 to €239,835
- Provisions +€73,422
new in 2025: €73,422
- Financial charges +€57,264
up €57,264 (+95.4%), from €60,047 to €117,311
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
€201,571
Gross operating margin
+€136,699
Depreciation
-€176,228
Write-downs
+€1,754
Provisions
-€73,422
Other operating charges
+€272
Financial income
+€79,452
Financial charges
-€57,264
Deferred taxes and other
+€22,211
Result 2025
€135,044
raises the resultlowers the resultnot broken down further in the accounts
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
+€1.5m
Investment
-€5.9m
Financing
+€4.6m
Cash 2024
€413,116
From operations (derived)
+€1.5m
Net result for the year
+€135,044
Depreciation
+€460,244
Stocks and contracts
+€65,638
Receivables within one year
+€565,370
Deferred charges and accrued income
-€60,720
Provisions
+€1.1m
Trade debts
-€710,789
Smaller working-capital items
+€13,456
Investment (derived)
-€5.9m
Investment in fixed assets (net)
-€5.9m
Financing
+€4.6m
Debts after one year
+€1.6m
Current portion of long-term debt
+€64,712
Contributions, distributions and other
+€2.9m
Cash 2025
€644,228
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,950,511 | €18,043,265 | +€5.1m | +39.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €10,589,862 | €16,021,793 | +€5.4m | +51.3% |
| Intangible fixed assets | 21 | - | €4,448 | +€4,448 | |
| Tangible fixed assets | 22/27 | €10,589,524 | €16,017,345 | +€5.4m | +51.3% |
| Plant, machinery and equipment | 23 | €10,589,524 | €16,017,345 | +€5.4m | +51.3% |
| Financial fixed assets | 28 | €338 | €0 | -€338 | -100% |
| Current assets | 29/58 | €2,360,649 | €2,021,472 | -€339,176 | -14.4% |
| Stocks and contracts in progress | 3 | €79,532 | €13,895 | -€65,638 | -82.5% |
| Stocks | 30/36 | €79,532 | €13,895 | -€65,638 | -82.5% |
| Amounts receivable within one year | 40/41 | €1,867,688 | €1,302,318 | -€565,370 | -30.3% |
| Trade receivables | 40 | €1,805,321 | €1,187,207 | -€618,114 | -34.2% |
| Other amounts receivable | 41 | €62,367 | €115,111 | +€52,744 | +84.6% |
| Cash at bank and in hand | 54/58 | €413,116 | €644,228 | +€231,112 | +55.9% |
| Deferred charges and accrued income | 490/1 | €312 | €61,031 | +€60,720 | +19,470% |
| Total equity and liabilities | 10/49 | €12,950,511 | €18,043,265 | +€5.1m | +39.3% |
| Equity | 10/15 | €6,971,835 | €10,024,496 | +€3.1m | +43.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €538,893 | €673,936 | +€135,044 | +25.1% |
| Investment grants | 15 | €6,431,942 | €9,349,560 | +€2.9m | +45.4% |
| Provisions and deferred taxes | 16 | €2,035,220 | €3,105,560 | +€1.1m | +52.6% |
| Provisions for liabilities and charges | 160/5 | - | €73,422 | +€73,422 | |
| Major repairs and maintenance | 162 | - | €73,422 | +€73,422 | |
| Deferred taxes | 168 | €2,035,220 | €3,032,138 | +€996,918 | +49.0% |
| Amounts payable | 17/49 | €3,943,456 | €4,913,209 | +€969,753 | +24.6% |
| Amounts payable after more than one year | 17 | €1,113,859 | €2,716,233 | +€1.6m | +144% |
| Financial debts | 170/4 | €1,113,859 | €2,716,233 | +€1.6m | +144% |
| Amounts payable within one year | 42/48 | €2,829,597 | €2,196,977 | -€632,620 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €78,753 | €143,465 | +€64,712 | +82.2% |
| Trade debts | 44 | €2,738,751 | €2,027,962 | -€710,789 | -26.0% |
| Suppliers | 440/4 | €2,738,751 | €2,027,962 | -€710,789 | -26.0% |
| Advances received on contracts in progress | 46 | €11,987 | €25,550 | +€13,563 | +113% |
| Other amounts payable | 47/48 | €107 | €0 | -€107 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €284,016 | €460,244 | +€176,228 | +62.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,754 | €0 | -€1,754 | -100% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €73,422 | +€73,422 | |
| Other operating charges | 640/8 | €2,294 | €2,022 | -€272 | -11.9% |
| Gross operating margin | 9900 | €338,518 | €475,218 | +€136,699 | +40.4% |
| Operating profit (loss) | 9901 | €50,454 | -€60,471 | -€110,925 | |
| Financial income | 75/76B | €160,383 | €239,835 | +€79,452 | +49.5% |
| Recurring financial income | 75 | €160,383 | €239,835 | +€79,452 | +49.5% |
| Financial charges | 65/66B | €60,047 | €117,311 | +€57,264 | +95.4% |
| Recurring financial charges | 65 | €60,047 | €117,311 | +€57,264 | +95.4% |
| Profit (loss) for the period before taxes | 9903 | €150,791 | €62,053 | -€88,738 | -58.8% |
| Transfer from deferred taxes | 780 | €50,780 | €72,990 | +€22,211 | +43.7% |
| Profit (loss) for the period | 9904 | €201,571 | €135,044 | -€66,527 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €201,571 | €135,044 | -€66,527 | -33.0% |
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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 7 November 2026 via checked.be.