NOVERIM: 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.
NOVERIM
Largest movements
- Receivables within one year +€54,386
up €54,386 (+15.9%), from €343,060 to €397,446
of which Other amounts receivable: +€37,210
- Tangible fixed assets +€4,233
up €4,233 (+47.7%), from €8,870 to €13,102
of which Furniture and vehicles: +€4,474
- Other debts +€424,326
new in 2025: €424,326
- Advances received -€379,096
no longer reported in 2025 (was €379,096)
- Trade debts +€17,565
up €17,565 (+85.5%), from €20,554 to €38,120
- Profit (loss) carried forward +€12,900
up €12,900 (+13.8%), from -€93,379 to -€80,479
- Current portion of long-term debt -€10,304
no longer reported in 2025 (was €10,304)
- Gross operating margin +€65,292
up €65,292, from -€32,185 to €33,106
- Staff costs -€3,583
down €3,583 (-29.0%), from €12,367 to €8,783
- Other operating charges +€1,767
up €1,767 (+46.4%), from €3,806 to €5,572
- Depreciation +€923
up €923 (+21.1%), from €4,363 to €5,286
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 | €357,770 | €414,921 | +€57,151 | +16.0% |
| Fixed assets | 21/28 | €10,870 | €15,102 | +€4,233 | +38.9% |
| Tangible fixed assets | 22/27 | €8,870 | €13,102 | +€4,233 | +47.7% |
| Plant, machinery and equipment | 23 | €4,918 | €4,218 | -€701 | -14.3% |
| Furniture and vehicles | 24 | €1,831 | €6,305 | +€4,474 | +244.3% |
| Other tangible fixed assets | 26 | €2,120 | €2,580 | +€460 | +21.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €346,900 | €399,818 | +€52,918 | +15.3% |
| Amounts receivable within one year | 40/41 | €343,060 | €397,446 | +€54,386 | +15.9% |
| Trade receivables | 40 | €9,654 | €26,829 | +€17,176 | +177.9% |
| Other amounts receivable | 41 | €333,406 | €370,617 | +€37,210 | +11.2% |
| Cash at bank and in hand | 54/58 | €2,703 | €2,372 | -€331 | -12.2% |
| Deferred charges and accrued income | 490/1 | €1,137 | - | -€1,137 | |
| Total equity and liabilities | 10/49 | €357,770 | €414,921 | +€57,151 | +16.0% |
| Equity | 10/15 | -€75,631 | -€62,732 | +€12,900 | +17.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,348 | €5,348 | = | 0.0% |
| Distributable reserves | 133 | €5,348 | €5,348 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€93,379 | -€80,479 | +€12,900 | +13.8% |
| Amounts payable | 17/49 | €433,401 | €477,652 | +€44,252 | +10.2% |
| Amounts payable within one year | 42/48 | €433,384 | €477,636 | +€44,252 | +10.2% |
| Current portion of amounts payable after more than one year | 42 | €10,304 | - | -€10,304 | |
| Trade debts | 44 | €20,554 | €38,120 | +€17,565 | +85.5% |
| Suppliers | 440/4 | €20,554 | €38,120 | +€17,565 | +85.5% |
| Advances received on contracts in progress | 46 | €379,096 | - | -€379,096 | |
| Taxes, remuneration and social security | 45 | €23,430 | €15,191 | -€8,239 | -35.2% |
| Taxes | 450/3 | €23,060 | €14,634 | -€8,426 | -36.5% |
| Remuneration and social security | 454/9 | €370 | €557 | +€187 | +50.5% |
| Other amounts payable | 47/48 | - | €424,326 | +€424,326 | |
| Accrued charges and deferred income | 492/3 | €17 | €16 | -€1 | -4.9% |
| Remuneration, social security and pensions | 62 | €12,367 | €8,783 | -€3,583 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,363 | €5,286 | +€923 | +21.1% |
| Other operating charges | 640/8 | €3,806 | €5,572 | +€1,767 | +46.4% |
| Gross operating margin | 9900 | -€32,185 | €33,106 | +€65,292 | |
| Operating profit (loss) | 9901 | -€52,720 | €13,465 | +€66,185 | |
| Financial income | 75/76B | €20 | €2 | -€18 | -92.0% |
| Recurring financial income | 75 | €20 | €2 | -€18 | -92.0% |
| Financial charges | 65/66B | €662 | €414 | -€248 | -37.5% |
| Recurring financial charges | 65 | €662 | €414 | -€248 | -37.5% |
| Profit (loss) for the period before taxes | 9903 | -€53,363 | €13,053 | +€66,415 | |
| Income taxes | 67/77 | €167 | €153 | -€14 | -8.3% |
| Profit (loss) for the period | 9904 | -€53,529 | €12,900 | +€66,429 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,529 | €12,900 | +€66,429 |
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 12 October 2026 via checked.be.