Novendi: 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.
Novendi
Largest movements
- Cash +€37,298
up €37,298 (+293.0%), from €12,729 to €50,028
mainly Net result for the year (+€49,903) and Depreciation (+€812)
- Receivables within one year +€1,060
up €1,060 (+8.2%), from €12,959 to €14,019
of which Trade receivables: +€762
- Deferred charges and accrued income -€741
down €741 (-68.5%), from €1,083 to €342
- Profit (loss) carried forward +€49,903
up €49,903 (+777.3%), from €6,420 to €56,322
- Other debts -€10,237
no longer reported in 2025 (was €10,237)
- Trade debts -€1,243
down €1,243 (-51.4%), from €2,420 to €1,177
- Tax, wage and social debts -€728
down €728 (-8.4%), from €8,647 to €7,919
of which Remuneration and social security: -€2,750
- Gross operating margin +€57,852
up €57,852 (+582.7%), from €9,928 to €67,780
- Taxes +€12,368
up €12,368 (+674.3%), from €1,834 to €14,203
- Financial charges +€1,862
up €1,862 (+1155.6%), from €161 to €2,023
- Other operating charges +€779
up €779 (+1384.6%), from €56 to €835
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 | €29,224 | €66,919 | +€37,695 | +129.0% |
| Fixed assets | 21/28 | €2,453 | €2,531 | +€78 | +3.2% |
| Tangible fixed assets | 22/27 | €2,453 | €2,531 | +€78 | +3.2% |
| Furniture and vehicles | 24 | €2,453 | €2,531 | +€78 | +3.2% |
| Current assets | 29/58 | €26,771 | €64,388 | +€37,617 | +140.5% |
| Amounts receivable within one year | 40/41 | €12,959 | €14,019 | +€1,060 | +8.2% |
| Trade receivables | 40 | €12,959 | €13,721 | +€762 | +5.9% |
| Other amounts receivable | 41 | - | €297 | +€297 | |
| Cash at bank and in hand | 54/58 | €12,729 | €50,028 | +€37,298 | +293.0% |
| Deferred charges and accrued income | 490/1 | €1,083 | €342 | -€741 | -68.5% |
| Total equity and liabilities | 10/49 | €29,224 | €66,919 | +€37,695 | +129.0% |
| Equity | 10/15 | €7,920 | €57,822 | +€49,903 | +630.1% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,420 | €56,322 | +€49,903 | +777.3% |
| Amounts payable | 17/49 | €21,304 | €9,096 | -€12,208 | -57.3% |
| Amounts payable within one year | 42/48 | €21,304 | €9,096 | -€12,208 | -57.3% |
| Trade debts | 44 | €2,420 | €1,177 | -€1,243 | -51.4% |
| Suppliers | 440/4 | €2,420 | €1,177 | -€1,243 | -51.4% |
| Taxes, remuneration and social security | 45 | €8,647 | €7,919 | -€728 | -8.4% |
| Taxes | 450/3 | €5,897 | €7,919 | +€2,022 | +34.3% |
| Remuneration and social security | 454/9 | €2,750 | - | -€2,750 | |
| Other amounts payable | 47/48 | €10,237 | - | -€10,237 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,457 | €812 | -€645 | -44.3% |
| Other operating charges | 640/8 | €56 | €835 | +€779 | +1384.6% |
| Non-recurring operating charges | 66A | - | €5 | +€5 | |
| Gross operating margin | 9900 | €9,928 | €67,780 | +€57,852 | +582.7% |
| Operating profit (loss) | 9901 | €8,415 | €66,128 | +€57,713 | +685.8% |
| Financial charges | 65/66B | €161 | €2,023 | +€1,862 | +1155.6% |
| Recurring financial charges | 65 | €161 | €2,023 | +€1,862 | +1155.6% |
| Profit (loss) for the period before taxes | 9903 | €8,254 | €64,105 | +€55,851 | +676.7% |
| Income taxes | 67/77 | €1,834 | €14,203 | +€12,368 | +674.3% |
| Profit (loss) for the period | 9904 | €6,420 | €49,903 | +€43,483 | +677.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,420 | €49,903 | +€43,483 | +677.3% |
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 11 October 2026 via checked.be.