NOVIGADO: 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.
NOVIGADO
Largest movements
- Current investments +€80,000
up €80,000 (+133%), from €60,000 to €140,000
- Cash -€29,274
down €29,274 (-71.7%), from €40,848 to €11,574
mainly Current investments (-€80,000) and Advances received (-€15,888)
- Profit (loss) carried forward +€67,336
up €67,336 (+83.0%), from €81,113 to €148,450
- Advances received -€15,888
down €15,888 (-100%), from €15,888 to €0
- Tax, wage and social debts -€2,900
down €2,900 (-11.0%), from €26,471 to €23,571
- Gross operating margin -€19,324
down €19,324 (-17.8%), from €108,360 to €89,036
- Taxes -€3,842
down €3,842 (-17.9%), from €21,454 to €17,613
- Financial charges -€1,134
down €1,134 (-23.5%), from €4,824 to €3,690
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 | €124,682 | €174,692 | +€50,010 | +40.1% |
| Fixed assets | 21/28 | €1,788 | €1,327 | -€461 | -25.8% |
| Tangible fixed assets | 22/27 | €1,788 | €1,327 | -€461 | -25.8% |
| Plant, machinery and equipment | 23 | €1,788 | €1,327 | -€461 | -25.8% |
| Current assets | 29/58 | €122,895 | €173,365 | +€50,471 | +41.1% |
| Amounts receivable within one year | 40/41 | €22,047 | €21,792 | -€255 | -1.2% |
| Trade receivables | 40 | €17,108 | €16,697 | -€411 | -2.4% |
| Other amounts receivable | 41 | €4,939 | €5,095 | +€156 | +3.2% |
| Current investments | 50/53 | €60,000 | €140,000 | +€80,000 | +133% |
| Cash at bank and in hand | 54/58 | €40,848 | €11,574 | -€29,274 | -71.7% |
| Total equity and liabilities | 10/49 | €124,682 | €174,692 | +€50,010 | +40.1% |
| Equity | 10/15 | €82,113 | €149,450 | +€67,336 | +82.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,113 | €148,450 | +€67,336 | +83.0% |
| Amounts payable | 17/49 | €42,569 | €25,242 | -€17,327 | -40.7% |
| Amounts payable within one year | 42/48 | €42,569 | €25,242 | -€17,327 | -40.7% |
| Trade debts | 44 | €209 | €1,671 | +€1,461 | +698% |
| Suppliers | 440/4 | €209 | €1,671 | +€1,461 | +698% |
| Advances received on contracts in progress | 46 | €15,888 | €0 | -€15,888 | -100% |
| Taxes, remuneration and social security | 45 | €26,471 | €23,571 | -€2,900 | -11.0% |
| Taxes | 450/3 | €26,471 | €23,571 | -€2,900 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €518 | €461 | -€57 | -11.0% |
| Other operating charges | 640/8 | €640 | €208 | -€432 | -67.5% |
| Gross operating margin | 9900 | €108,360 | €89,036 | -€19,324 | -17.8% |
| Operating profit (loss) | 9901 | €107,202 | €88,367 | -€18,835 | -17.6% |
| Financial income | 75/76B | €190 | €272 | +€82 | +43.3% |
| Recurring financial income | 75 | €190 | €272 | +€82 | +43.3% |
| Financial charges | 65/66B | €4,824 | €3,690 | -€1,134 | -23.5% |
| Recurring financial charges | 65 | €4,824 | €3,690 | -€1,134 | -23.5% |
| Profit (loss) for the period before taxes | 9903 | €102,568 | €84,949 | -€17,619 | -17.2% |
| Income taxes | 67/77 | €21,454 | €17,613 | -€3,842 | -17.9% |
| Profit (loss) for the period | 9904 | €81,113 | €67,336 | -€13,777 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €81,113 | €67,336 | -€13,777 | -17.0% |
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 24 October 2026 via checked.be.