NOVO: what changed
What changed
NOVO
NACE 43.240, Other construction installation
filed annual accounts (NBB)
Net result for the year
-€2,805
2024 · €8,983-€11,788
Equity
€148,633
2024 · €151,964-€3,331
Cash
€179,202
2024 · €194,873-€15,671
Balance sheet total
€647,726
2024 · €626,485+€21,241
Largest movements
Assets
- Receivables within one year +€36,632
up €36,632 (+49.4%), from €74,121 to €110,753
of which Other amounts receivable: +€22,814
- Cash -€15,671
down €15,671 (-8.0%), from €194,873 to €179,202
mainly Receivables within one year (-€36,632) and Debts after one year (-€14,567)
- Tangible fixed assets -€13,238
down €13,238 (-3.9%), from €342,386 to €329,148
of which Land and buildings: -€9,884
- Deferred charges and accrued income +€8,837
up €8,837 (+538%), from €1,643 to €10,480
Equity and liabilities
- Trade debts +€38,265
up €38,265 (+30.0%), from €127,618 to €165,883
- Debts after one year -€14,567
down €14,567 (-5.2%), from €278,582 to €264,015
Income statement
- Staff costs +€68,740
up €68,740 (+32.6%), from €210,561 to €279,301
- Gross operating margin +€46,026
up €46,026 (+17.7%), from €260,241 to €306,267
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€8,983
Gross operating margin
+€46,026
Staff costs
-€68,740
Depreciation
-€354
Other operating charges
+€2,374
Other operating items
+€5,915
Financial income
-€44
Financial charges
+€963
Taxes
+€2,072
Result 2025
-€2,805
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1,102
Investment
-€1,434
Financing
-€15,339
Cash 2024
€194,873
From operations (derived)
+€1,102
Net result for the year
-€2,805
Depreciation
+€14,672
Stocks and contracts
-€4,681
Receivables within one year
-€36,632
Deferred charges and accrued income
-€8,837
Trade debts
+€38,265
Tax, wage and social debts
+€1,463
Other debts
-€343
Investment (derived)
-€1,434
Investment in fixed assets (net)
-€1,434
Financing
-€15,339
Debts after one year
-€14,567
Current portion of long-term debt
-€246
Contributions, distributions and other
-€526
Cash 2025
€179,202
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €626,485 | €647,726 | +€21,241 | +3.4% |
| Fixed assets | 21/28 | €342,590 | €329,352 | -€13,238 | -3.9% |
| Tangible fixed assets | 22/27 | €342,386 | €329,148 | -€13,238 | -3.9% |
| Land and buildings | 22 | €328,796 | €318,912 | -€9,884 | -3.0% |
| Plant, machinery and equipment | 23 | €2,746 | €1,896 | -€850 | -31.0% |
| Furniture and vehicles | 24 | €10,844 | €8,340 | -€2,504 | -23.1% |
| Financial fixed assets | 28 | €204 | €204 | = | 0.0% |
| Current assets | 29/58 | €283,895 | €318,374 | +€34,479 | +12.1% |
| Stocks and contracts in progress | 3 | €13,258 | €17,939 | +€4,681 | +35.3% |
| Stocks | 30/36 | €13,258 | €17,939 | +€4,681 | +35.3% |
| Amounts receivable within one year | 40/41 | €74,121 | €110,753 | +€36,632 | +49.4% |
| Trade receivables | 40 | €64,702 | €78,520 | +€13,818 | +21.4% |
| Other amounts receivable | 41 | €9,419 | €32,233 | +€22,814 | +242% |
| Cash at bank and in hand | 54/58 | €194,873 | €179,202 | -€15,671 | -8.0% |
| Deferred charges and accrued income | 490/1 | €1,643 | €10,480 | +€8,837 | +538% |
| Total equity and liabilities | 10/49 | €626,485 | €647,726 | +€21,241 | +3.4% |
| Equity | 10/15 | €151,964 | €148,633 | -€3,331 | -2.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €23,750 | €23,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €13,750 | €13,750 | = | 0.0% |
| Distributable reserves | 133 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €94,444 | €91,639 | -€2,805 | -3.0% |
| Investment grants | 15 | €13,310 | €12,784 | -€526 | -4.0% |
| Amounts payable | 17/49 | €474,521 | €499,093 | +€24,572 | +5.2% |
| Amounts payable after more than one year | 17 | €278,582 | €264,015 | -€14,567 | -5.2% |
| Financial debts | 170/4 | €278,582 | €264,015 | -€14,567 | -5.2% |
| Amounts payable within one year | 42/48 | €195,939 | €235,078 | +€39,139 | +20.0% |
| Current portion of amounts payable after more than one year | 42 | €14,325 | €14,079 | -€246 | -1.7% |
| Trade debts | 44 | €127,618 | €165,883 | +€38,265 | +30.0% |
| Suppliers | 440/4 | €127,618 | €165,883 | +€38,265 | +30.0% |
| Taxes, remuneration and social security | 45 | €39,189 | €40,652 | +€1,463 | +3.7% |
| Taxes | 450/3 | €8,210 | €2,713 | -€5,497 | -67.0% |
| Remuneration and social security | 454/9 | €30,979 | €37,939 | +€6,960 | +22.5% |
| Other amounts payable | 47/48 | €14,807 | €14,464 | -€343 | -2.3% |
| Non-recurring operating income | 76A | €3,435 | - | -€3,435 | |
| Remuneration, social security and pensions | 62 | €210,561 | €279,301 | +€68,740 | +32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,318 | €14,672 | +€354 | +2.5% |
| Other operating charges | 640/8 | €3,076 | €702 | -€2,374 | -77.2% |
| Non-recurring operating charges | 66A | €8,010 | €2,095 | -€5,915 | -73.8% |
| Gross operating margin | 9900 | €260,241 | €306,267 | +€46,026 | +17.7% |
| Operating profit (loss) | 9901 | €24,276 | €9,497 | -€14,779 | -60.9% |
| Financial income | 75/76B | €602 | €558 | -€44 | -7.3% |
| Recurring financial income | 75 | €602 | €558 | -€44 | -7.3% |
| Financial charges | 65/66B | €13,410 | €12,447 | -€963 | -7.2% |
| Recurring financial charges | 65 | €13,410 | €12,447 | -€963 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €11,468 | -€2,392 | -€13,860 | |
| Income taxes | 67/77 | €2,485 | €413 | -€2,072 | -83.4% |
| Profit (loss) for the period | 9904 | €8,983 | -€2,805 | -€11,788 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,983 | -€2,805 | -€11,788 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.