NOVI PROJECTS: 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.
NOVI PROJECTS
Largest movements
- Cash -€573,428
down €573,428 (-99.8%), from €574,364 to €936
mainly Accrued charges and deferred income (-€152,910) and Net result for the year (-€152,643)
- Stocks and contracts +€95,680
up €95,680 (+635.5%), from €15,055 to €110,735
- Receivables within one year -€9,305
down €9,305 (-14.5%), from €64,072 to €54,767
of which Trade receivables: -€58,226
- Accrued charges and deferred income -€152,910
no longer reported in 2025 (was €152,910)
- Reserves -€152,643
down €152,643 (-98.9%), from €154,338 to €1,695
- Debts after one year -€90,916
no longer reported in 2025 (was €90,916)
- Trade debts -€54,982
down €54,982 (-64.8%), from €84,793 to €29,811
- Current portion of long-term debt -€35,000
no longer reported in 2025 (was €35,000)
- Gross operating margin -€395,057
down €395,057, from €248,435 to -€146,621
- Other operating charges -€45,648
down €45,648 (-99.1%), from €46,047 to €400
- Financial charges -€35,269
down €35,269 (-86.9%), from €40,581 to €5,313
- Taxes -€27,959
down €27,959 (-95.2%), from €29,379 to €1,420
- Financial income -€2,783
down €2,783 (-71.5%), from €3,894 to €1,111
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 | €653,836 | €166,438 | -€487,398 | -74.5% |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Current assets | 29/58 | €653,836 | €166,438 | -€487,398 | -74.5% |
| Stocks and contracts in progress | 3 | €15,055 | €110,735 | +€95,680 | +635.5% |
| Stocks | 30/36 | €15,055 | €110,735 | +€95,680 | +635.5% |
| Amounts receivable within one year | 40/41 | €64,072 | €54,767 | -€9,305 | -14.5% |
| Trade receivables | 40 | €58,226 | - | -€58,226 | |
| Other amounts receivable | 41 | €5,846 | €54,767 | +€48,920 | +836.7% |
| Cash at bank and in hand | 54/58 | €574,364 | €936 | -€573,428 | -99.8% |
| Deferred charges and accrued income | 490/1 | €344 | - | -€344 | |
| Total equity and liabilities | 10/49 | €653,836 | €166,438 | -€487,398 | -74.5% |
| Equity | 10/15 | €175,338 | €22,695 | -€152,643 | -87.1% |
| Contributions | 10/11 | €21,000 | €21,000 | = | 0.0% |
| Reserves | 13 | €154,338 | €1,695 | -€152,643 | -98.9% |
| Distributable reserves | 133 | €154,338 | €1,695 | -€152,643 | -98.9% |
| Amounts payable | 17/49 | €478,498 | €143,743 | -€334,755 | -70.0% |
| Amounts payable after more than one year | 17 | €90,916 | - | -€90,916 | |
| Financial debts | 170/4 | €90,916 | - | -€90,916 | |
| Amounts payable within one year | 42/48 | €234,671 | €143,743 | -€90,929 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €35,000 | - | -€35,000 | |
| Financial debts | 43 | - | €2,861 | +€2,861 | |
| Credit institutions | 430/8 | - | €2,861 | +€2,861 | |
| Trade debts | 44 | €84,793 | €29,811 | -€54,982 | -64.8% |
| Suppliers | 440/4 | €84,793 | €29,811 | -€54,982 | -64.8% |
| Taxes, remuneration and social security | 45 | €19,467 | €5,964 | -€13,503 | -69.4% |
| Taxes | 450/3 | €19,467 | €5,964 | -€13,503 | -69.4% |
| Other amounts payable | 47/48 | €95,411 | €105,106 | +€9,695 | +10.2% |
| Accrued charges and deferred income | 492/3 | €152,910 | - | -€152,910 | |
| Other operating charges | 640/8 | €46,047 | €400 | -€45,648 | -99.1% |
| Gross operating margin | 9900 | €248,435 | -€146,621 | -€395,057 | |
| Operating profit (loss) | 9901 | €202,388 | -€147,021 | -€349,409 | |
| Financial income | 75/76B | €3,894 | €1,111 | -€2,783 | -71.5% |
| Recurring financial income | 75 | €3,894 | €1,111 | -€2,783 | -71.5% |
| Financial charges | 65/66B | €40,581 | €5,313 | -€35,269 | -86.9% |
| Recurring financial charges | 65 | €40,581 | €5,313 | -€35,269 | -86.9% |
| Profit (loss) for the period before taxes | 9903 | €165,701 | -€151,223 | -€316,923 | |
| Income taxes | 67/77 | €29,379 | €1,420 | -€27,959 | -95.2% |
| Profit (loss) for the period | 9904 | €136,322 | -€152,643 | -€288,964 | |
| Profit (loss) for the period to be appropriated | 9905 | €136,322 | -€152,643 | -€288,964 |
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.