Novo Normali: what changed
Novo Normali
Largest movements
- Current investments -€80,380
no longer reported in 2025 (was €80,380)
- Stocks and contracts +€25,500
new in 2025: €25,500
- Cash +€6,750
new in 2025: €6,750
mainly Current investments (+€80,380) and Trade debts (+€3,699)
- Receivables within one year +€6,355
up €6,355 (+154%), from €4,131 to €10,485
- Deferred charges and accrued income +€3,679
up €3,679 (+1,468%), from €251 to €3,930
- Other debts -€24,000
no longer reported in 2025 (was €24,000)
- Tax, wage and social debts -€11,696
down €11,696 (-97.2%), from €12,038 to €342
- Accrued charges and deferred income -€5,850
no longer reported in 2025 (was €5,850)
- Trade debts +€3,699
up €3,699 (+797%), from €464 to €4,163
- Gross operating margin -€78,858
down €78,858 (-98.9%), from €79,744 to €886
- Taxes -€11,109
down €11,109 (-97.2%), from €11,433 to €324
- Depreciation -€2,232
down €2,232 (-79.7%), from €2,800 to €568
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €86,181 | €48,717 | -€37,464 | -43.5% |
| Fixed assets | 21/28 | €1,420 | €2,052 | +€632 | +44.5% |
| Intangible fixed assets | 21 | - | €1,020 | +€1,020 | |
| Tangible fixed assets | 22/27 | €1,420 | €1,032 | -€388 | -27.3% |
| Furniture and vehicles | 24 | €1,420 | €1,032 | -€388 | -27.3% |
| Current assets | 29/58 | €84,761 | €46,665 | -€38,096 | -44.9% |
| Stocks and contracts in progress | 3 | - | €25,500 | +€25,500 | |
| Contracts in progress | 37 | - | €25,500 | +€25,500 | |
| Amounts receivable within one year | 40/41 | €4,131 | €10,485 | +€6,355 | +154% |
| Other amounts receivable | 41 | €4,131 | €10,485 | +€6,355 | +154% |
| Current investments | 50/53 | €80,380 | - | -€80,380 | |
| Cash at bank and in hand | 54/58 | - | €6,750 | +€6,750 | |
| Deferred charges and accrued income | 490/1 | €251 | €3,930 | +€3,679 | +1,468% |
| Total equity and liabilities | 10/49 | €86,181 | €48,717 | -€37,464 | -43.5% |
| Equity | 10/15 | €43,829 | €44,212 | +€383 | +0.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €41,329 | €41,712 | +€383 | +0.9% |
| Distributable reserves | 133 | €41,329 | €41,712 | +€383 | +0.9% |
| Amounts payable | 17/49 | €42,352 | €4,505 | -€37,847 | -89.4% |
| Amounts payable within one year | 42/48 | €36,502 | €4,505 | -€31,997 | -87.7% |
| Trade debts | 44 | €464 | €4,163 | +€3,699 | +797% |
| Suppliers | 440/4 | €464 | €4,163 | +€3,699 | +797% |
| Taxes, remuneration and social security | 45 | €12,038 | €342 | -€11,696 | -97.2% |
| Taxes | 450/3 | €12,038 | €342 | -€11,696 | -97.2% |
| Other amounts payable | 47/48 | €24,000 | - | -€24,000 | |
| Accrued charges and deferred income | 492/3 | €5,850 | - | -€5,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,800 | €568 | -€2,232 | -79.7% |
| Other operating charges | 640/8 | €90 | - | -€90 | |
| Gross operating margin | 9900 | €79,744 | €886 | -€78,858 | -98.9% |
| Operating profit (loss) | 9901 | €76,853 | €318 | -€76,535 | -99.6% |
| Financial income | 75/76B | €46 | €534 | +€488 | +1,051% |
| Recurring financial income | 75 | €46 | €534 | +€488 | +1,051% |
| Financial charges | 65/66B | €138 | €145 | +€7 | +5.3% |
| Recurring financial charges | 65 | €138 | €145 | +€7 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €76,762 | €707 | -€76,055 | -99.1% |
| Income taxes | 67/77 | €11,433 | €324 | -€11,109 | -97.2% |
| Profit (loss) for the period | 9904 | €65,329 | €383 | -€64,946 | -99.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,329 | €383 | -€64,946 | -99.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.