NOVIAR: 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.
NOVIAR
Largest movements
- Current investments +€77,022
up €77,022 (+35.8%), from €215,073 to €292,095
- Cash +€27,376
up €27,376 (+76.5%), from €35,798 to €63,174
mainly Net result for the year (+€83,405) and Tax, wage and social debts (+€32,316)
- Receivables within one year +€10,138
up €10,138 (+1701.0%), from €596 to €10,734
- Tangible fixed assets -€8,816
down €8,816 (-7.4%), from €118,694 to €109,878
of which Land and buildings: -€8,803
- Reserves +€83,405
up €83,405 (+36.9%), from €226,182 to €309,587
of which Distributable reserves: +€84,132
- Tax, wage and social debts +€32,316
up €32,316 (+97.2%), from €33,263 to €65,579
- Accrued charges and deferred income -€8,900
down €8,900 (-90.6%), from €9,820 to €920
- Financial income +€8,424
up €8,424 (+441.7%), from €1,907 to €10,331
- Gross operating margin +€4,605
up €4,605 (+3.5%), from €131,290 to €135,895
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 | €373,618 | €479,490 | +€105,872 | +28.3% |
| Fixed assets | 21/28 | €118,694 | €109,878 | -€8,816 | -7.4% |
| Tangible fixed assets | 22/27 | €118,694 | €109,878 | -€8,816 | -7.4% |
| Land and buildings | 22 | €115,272 | €106,469 | -€8,803 | -7.6% |
| Plant, machinery and equipment | 23 | €3,422 | €2,638 | -€784 | -22.9% |
| Furniture and vehicles | 24 | - | €771 | +€771 | |
| Current assets | 29/58 | €254,924 | €369,611 | +€114,688 | +45.0% |
| Amounts receivable within one year | 40/41 | €596 | €10,734 | +€10,138 | +1701.0% |
| Other amounts receivable | 41 | €596 | €10,734 | +€10,138 | +1701.0% |
| Current investments | 50/53 | €215,073 | €292,095 | +€77,022 | +35.8% |
| Cash at bank and in hand | 54/58 | €35,798 | €63,174 | +€27,376 | +76.5% |
| Deferred charges and accrued income | 490/1 | €3,457 | €3,609 | +€152 | +4.4% |
| Total equity and liabilities | 10/49 | €373,618 | €479,490 | +€105,872 | +28.3% |
| Equity | 10/15 | €325,935 | €409,340 | +€83,405 | +25.6% |
| Contributions | 10/11 | €99,753 | €99,753 | = | 0.0% |
| Reserves | 13 | €226,182 | €309,587 | +€83,405 | +36.9% |
| Tax-exempt reserves | 132 | €21,053 | €20,326 | -€727 | -3.5% |
| Distributable reserves | 133 | €205,129 | €289,261 | +€84,132 | +41.0% |
| Amounts payable | 17/49 | €47,683 | €70,150 | +€22,467 | +47.1% |
| Amounts payable within one year | 42/48 | €37,863 | €69,230 | +€31,367 | +82.8% |
| Trade debts | 44 | €2,876 | €2,633 | -€242 | -8.4% |
| Suppliers | 440/4 | €2,876 | €2,633 | -€242 | -8.4% |
| Taxes, remuneration and social security | 45 | €33,263 | €65,579 | +€32,316 | +97.2% |
| Taxes | 450/3 | €33,263 | €65,579 | +€32,316 | +97.2% |
| Other amounts payable | 47/48 | €1,724 | €1,017 | -€706 | -41.0% |
| Accrued charges and deferred income | 492/3 | €9,820 | €920 | -€8,900 | -90.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,931 | €9,785 | -€1,146 | -10.5% |
| Other operating charges | 640/8 | €14,208 | €14,654 | +€446 | +3.1% |
| Gross operating margin | 9900 | €131,290 | €135,895 | +€4,605 | +3.5% |
| Operating profit (loss) | 9901 | €106,151 | €111,457 | +€5,305 | +5.0% |
| Financial income | 75/76B | €1,907 | €10,331 | +€8,424 | +441.7% |
| Recurring financial income | 75 | €1,907 | €10,331 | +€8,424 | +441.7% |
| Financial charges | 65/66B | €3,719 | €3,812 | +€93 | +2.5% |
| Recurring financial charges | 65 | €3,719 | €3,812 | +€93 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €104,340 | €117,976 | +€13,636 | +13.1% |
| Income taxes | 67/77 | €33,565 | €34,570 | +€1,006 | +3.0% |
| Profit (loss) for the period | 9904 | €70,775 | €83,405 | +€12,630 | +17.8% |
| Transfer from tax-exempt reserves | 789 | €727 | €727 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,502 | €84,132 | +€12,630 | +17.7% |
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 30 September 2026 via checked.be.