NOVIBAT: 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.
NOVIBAT
Largest movements
- Tangible fixed assets +€204,266
up €204,266 (+62.3%), from €327,691 to €531,957
of which Land and buildings: +€209,164
- Receivables within one year +€119,017
up €119,017 (+3,051%), from €3,901 to €122,918
of which Other amounts receivable: +€122,918
- Cash -€114,790
down €114,790 (-65.7%), from €174,618 to €59,828
mainly Investment in fixed assets (net) (-€260,241) and Receivables within one year (-€119,017)
- Debts after one year +€126,338
up €126,338 (+135%), from €93,260 to €219,597
- Reserves +€76,431
up €76,431 (+609%), from €12,560 to €88,991
of which Tax-exempt reserves: +€76,431
- Profit (loss) carried forward -€64,422
down €64,422 (-62.9%), from €102,464 to €38,042
- Other debts +€55,898
up €55,898 (+28.9%), from €193,511 to €249,409
- Provisions +€25,477
new in 2025: €25,477
- Taxes -€13,319
down €13,319, from €12,000 to -€1,319
- Other operating charges +€5,136
up €5,136 (+94.2%), from €5,450 to €10,587
- Financial charges +€3,151
up €3,151 (+105%), from €3,013 to €6,164
- Gross operating margin +€2,775
up €2,775 (+2.6%), from €106,517 to €109,292
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.
Derived cash bridge
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 | €506,467 | €714,960 | +€208,493 | +41.2% |
| Fixed assets | 21/28 | €327,948 | €532,214 | +€204,266 | +62.3% |
| Tangible fixed assets | 22/27 | €327,691 | €531,957 | +€204,266 | +62.3% |
| Land and buildings | 22 | €159,074 | €368,239 | +€209,164 | +131% |
| Plant, machinery and equipment | 23 | - | €601 | +€601 | |
| Furniture and vehicles | 24 | - | €55,552 | +€55,552 | |
| Other tangible fixed assets | 26 | €163,417 | €107,565 | -€55,852 | -34.2% |
| Assets under construction and advance payments | 27 | €5,200 | - | -€5,200 | |
| Financial fixed assets | 28 | €257 | €257 | = | 0.0% |
| Current assets | 29/58 | €178,519 | €182,746 | +€4,227 | +2.4% |
| Amounts receivable within one year | 40/41 | €3,901 | €122,918 | +€119,017 | +3,051% |
| Trade receivables | 40 | €3,901 | - | -€3,901 | |
| Other amounts receivable | 41 | - | €122,918 | +€122,918 | |
| Cash at bank and in hand | 54/58 | €174,618 | €59,828 | -€114,790 | -65.7% |
| Total equity and liabilities | 10/49 | €506,467 | €714,960 | +€208,493 | +41.2% |
| Equity | 10/15 | €152,024 | €164,034 | +€12,009 | +7.9% |
| Contributions | 10/11 | €37,000 | €37,000 | = | 0.0% |
| Capital | 10 | €37,000 | €37,000 | = | 0.0% |
| Issued capital | 100 | €37,000 | €37,000 | = | 0.0% |
| Reserves | 13 | €12,560 | €88,991 | +€76,431 | +609% |
| Non-distributable reserves | 130/1 | €3,884 | €3,884 | = | 0.0% |
| Legal reserve | 130 | €3,700 | €3,700 | = | 0.0% |
| Reserves not available under the articles | 1311 | €184 | €184 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €76,431 | +€76,431 | |
| Distributable reserves | 133 | €8,676 | €8,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | €102,464 | €38,042 | -€64,422 | -62.9% |
| Provisions and deferred taxes | 16 | - | €25,477 | +€25,477 | |
| Deferred taxes | 168 | - | €25,477 | +€25,477 | |
| Amounts payable | 17/49 | €354,443 | €525,449 | +€171,007 | +48.2% |
| Amounts payable after more than one year | 17 | €93,260 | €219,597 | +€126,338 | +135% |
| Financial debts | 170/4 | €93,260 | €219,597 | +€126,338 | +135% |
| Amounts payable within one year | 42/48 | €257,395 | €302,739 | +€45,344 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €20,717 | €28,358 | +€7,641 | +36.9% |
| Trade debts | 44 | €33,442 | €24,972 | -€8,470 | -25.3% |
| Suppliers | 440/4 | €33,442 | €24,972 | -€8,470 | -25.3% |
| Taxes, remuneration and social security | 45 | €9,725 | - | -€9,725 | |
| Taxes | 450/3 | €9,725 | - | -€9,725 | |
| Other amounts payable | 47/48 | €193,511 | €249,409 | +€55,898 | +28.9% |
| Accrued charges and deferred income | 492/3 | €3,788 | €3,113 | -€675 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,134 | €55,975 | +€841 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,088 | +€1,088 | |
| Other operating charges | 640/8 | €5,450 | €10,587 | +€5,136 | +94.2% |
| Gross operating margin | 9900 | €106,517 | €109,292 | +€2,775 | +2.6% |
| Operating profit (loss) | 9901 | €45,933 | €41,643 | -€4,290 | -9.3% |
| Financial income | 75/76B | €97 | €688 | +€591 | +608% |
| Recurring financial income | 75 | €97 | €688 | +€591 | +608% |
| Financial charges | 65/66B | €3,013 | €6,164 | +€3,151 | +105% |
| Recurring financial charges | 65 | €3,013 | €6,164 | +€3,151 | +105% |
| Profit (loss) for the period before taxes | 9903 | €43,016 | €36,167 | -€6,850 | -15.9% |
| Income taxes | 67/77 | €12,000 | -€1,319 | -€13,319 | |
| Profit (loss) for the period | 9904 | €31,016 | €37,486 | +€6,470 | +20.9% |
| Transfer from tax-exempt reserves | 789 | - | €1,806 | +€1,806 | |
| Transfer to tax-exempt reserves | 689 | - | €103,714 | +€103,714 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,016 | -€64,422 | -€95,438 |
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 19 October 2026 via checked.be.