NOVOBEL: 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.
What changed
NOVOBEL
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 compared with 2023filed annual accounts (NBB)
Net result for the year
-€50,803
2023 · €348,008-€398,811
Equity
€588,218
2023 · €641,069-€52,851
Cash
€22,382
2023 · €28,553-€6,171
Balance sheet total
€3.3m
2023 · €2.3m+€976,584
Largest movements
Assets
- Stocks and contracts +€1.0m
up €1.0m (+301%), from €334,059 to €1.3m
- Tangible fixed assets -€45,794
down €45,794 (-2.5%), from €1.8m to €1.8m
of which Land and buildings: -€47,890
Equity and liabilities
- Short-term financial debts +€853,106
up €853,106 (+63.1%), from €1.4m to €2.2m
- Other debts +€210,320
up €210,320 (+376%), from €56,000 to €266,320
- Profit (loss) carried forward -€52,851
down €52,851 (-8.5%), from €622,469 to €569,618
Income statement
- Gross operating margin -€386,427
down €386,427 (-65.5%), from €590,032 to €203,605
- Taxes -€128,665
down €128,665 (-100%), from €128,665 to €0
- Staff costs +€90,646
up €90,646 (+182%), from €49,812 to €140,458
- Depreciation +€29,340
up €29,340 (+149%), from €19,647 to €48,987
- Financial charges +€12,006
up €12,006 (+27.9%), from €43,089 to €55,095
of which Financial charges: +€9,904
From the 2023 result to the 2024 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.
Result 2023
€348,008
Gross operating margin
-€386,427
Staff costs
-€90,646
Depreciation
-€29,340
Other operating charges
-€8,829
Other operating items
-€1,492
Financial income
+€1,264
Financial charges
-€12,006
Taxes
+€128,665
Result 2024
-€50,803
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€854,035
Investment
-€3,193
Financing
+€851,058
Cash 2023
€28,553
From operations (derived)
-€854,035
Net result for the year
-€50,803
Depreciation
+€48,987
Stocks and contracts
-€1.0m
Receivables within one year
-€26,679
Deferred charges and accrued income
+€2,157
Trade debts
-€7,524
Tax, wage and social debts
-€31,061
Advances received
+€4,594
Other debts
+€210,320
Investment (derived)
-€3,193
Investment in fixed assets (net)
-€3,193
Financing
+€851,058
Short-term financial debts
+€853,106
Contributions, distributions and other
-€2,048
Cash 2024
€22,382
brings cash intakes cash out
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,277,637 | €3,254,221 | +€976,584 | +42.9% |
| Fixed assets | 21/28 | €1,819,650 | €1,773,856 | -€45,794 | -2.5% |
| Tangible fixed assets | 22/27 | €1,818,450 | €1,772,656 | -€45,794 | -2.5% |
| Land and buildings | 22 | €1,774,856 | €1,726,966 | -€47,890 | -2.7% |
| Plant, machinery and equipment | 23 | €1,438 | €950 | -€488 | -34.0% |
| Furniture and vehicles | 24 | €1,606 | €997 | -€609 | -37.9% |
| Assets under construction and advance payments | 27 | €40,550 | €43,743 | +€3,193 | +7.9% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €457,987 | €1,480,365 | +€1.0m | +223% |
| Stocks and contracts in progress | 3 | €334,059 | €1,338,085 | +€1.0m | +301% |
| Stocks | 30/36 | €334,059 | €1,338,085 | +€1.0m | +301% |
| Amounts receivable within one year | 40/41 | €84,183 | €110,862 | +€26,679 | +31.7% |
| Trade receivables | 40 | €33,653 | €57,705 | +€24,052 | +71.5% |
| Other amounts receivable | 41 | €50,530 | €53,157 | +€2,628 | +5.2% |
| Cash at bank and in hand | 54/58 | €28,553 | €22,382 | -€6,171 | -21.6% |
| Deferred charges and accrued income | 490/1 | €11,192 | €9,035 | -€2,157 | -19.3% |
| Total equity and liabilities | 10/49 | €2,277,637 | €3,254,221 | +€976,584 | +42.9% |
| Equity | 10/15 | €641,069 | €588,218 | -€52,851 | -8.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €622,469 | €569,618 | -€52,851 | -8.5% |
| Amounts payable | 17/49 | €1,636,567 | €2,666,003 | +€1.0m | +62.9% |
| Amounts payable within one year | 42/48 | €1,636,567 | €2,666,003 | +€1.0m | +62.9% |
| Financial debts | 43 | €1,351,308 | €2,204,415 | +€853,106 | +63.1% |
| Credit institutions | 430/8 | €1,351,308 | €2,204,415 | +€853,106 | +63.1% |
| Trade debts | 44 | €100,689 | €93,166 | -€7,524 | -7.5% |
| Suppliers | 440/4 | €100,689 | €93,166 | -€7,524 | -7.5% |
| Advances received on contracts in progress | 46 | - | €4,594 | +€4,594 | |
| Taxes, remuneration and social security | 45 | €128,569 | €97,508 | -€31,061 | -24.2% |
| Taxes | 450/3 | €126,360 | €84,929 | -€41,431 | -32.8% |
| Remuneration and social security | 454/9 | €2,209 | €12,579 | +€10,370 | +469% |
| Other amounts payable | 47/48 | €56,000 | €266,320 | +€210,320 | +376% |
| Remuneration, social security and pensions | 62 | €49,812 | €140,458 | +€90,646 | +182% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,647 | €48,987 | +€29,340 | +149% |
| Other operating charges | 640/8 | €2,911 | €11,740 | +€8,829 | +303% |
| Non-recurring operating charges | 66A | €234 | €1,726 | +€1,492 | +638% |
| Gross operating margin | 9900 | €590,032 | €203,605 | -€386,427 | -65.5% |
| Operating profit (loss) | 9901 | €517,428 | €694 | -€516,734 | -99.9% |
| Financial income | 75/76B | €2,334 | €3,598 | +€1,264 | +54.2% |
| Recurring financial income | 75 | €2,334 | €3,598 | +€1,264 | +54.2% |
| Non-recurring financial income | 76B | - | €3,598 | +€3,598 | |
| Financial charges | 65/66B | €43,089 | €55,095 | +€12,006 | +27.9% |
| Recurring financial charges | 65 | €43,089 | €52,993 | +€9,904 | +23.0% |
| Non-recurring financial charges | 66B | - | €2,102 | +€2,102 | |
| Profit (loss) for the period before taxes | 9903 | €476,672 | -€50,803 | -€527,475 | |
| Income taxes | 67/77 | €128,665 | €0 | -€128,665 | -100% |
| Profit (loss) for the period | 9904 | €348,008 | -€50,803 | -€398,811 | |
| Profit (loss) for the period to be appropriated | 9905 | €348,008 | -€50,803 | -€398,811 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.