NOVUM INITIUM: 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.
NOVUM INITIUM
Largest movements
- Tangible fixed assets -€12,496
down €12,496 (-43.9%), from €28,484 to €15,988
of which Furniture and vehicles: -€11,367
- Receivables within one year +€8,919
up €8,919 (+45.0%), from €19,829 to €28,748
of which Other amounts receivable: +€8,095
- Cash -€6,420
down €6,420 (-10.4%), from €61,493 to €55,073
mainly Tax, wage and social debts (-€12,815) and Receivables within one year (-€8,919)
- Tax, wage and social debts -€12,815
down €12,815 (-86.4%), from €14,826 to €2,012
- Reserves +€11,907
up €11,907 (+16.8%), from €71,057 to €82,964
- Debts after one year -€8,239
down €8,239 (-66.3%), from €12,434 to €4,195
- Gross operating margin -€13,714
down €13,714 (-32.2%), from €42,599 to €28,886
- Taxes -€2,927
down €2,927 (-44.8%), from €6,531 to €3,604
- Depreciation +€753
up €753 (+6.4%), from €11,743 to €12,496
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 | €110,714 | €101,557 | -€9,157 | -8.3% |
| Fixed assets | 21/28 | €28,484 | €15,988 | -€12,496 | -43.9% |
| Tangible fixed assets | 22/27 | €28,484 | €15,988 | -€12,496 | -43.9% |
| Furniture and vehicles | 24 | €17,572 | €6,204 | -€11,367 | -64.7% |
| Other tangible fixed assets | 26 | €10,912 | €9,784 | -€1,129 | -10.3% |
| Current assets | 29/58 | €82,229 | €85,569 | +€3,340 | +4.1% |
| Amounts receivable within one year | 40/41 | €19,829 | €28,748 | +€8,919 | +45.0% |
| Trade receivables | 40 | €11,592 | €12,415 | +€824 | +7.1% |
| Other amounts receivable | 41 | €8,237 | €16,332 | +€8,095 | +98.3% |
| Cash at bank and in hand | 54/58 | €61,493 | €55,073 | -€6,420 | -10.4% |
| Deferred charges and accrued income | 490/1 | €908 | €1,749 | +€841 | +92.7% |
| Total equity and liabilities | 10/49 | €110,714 | €101,557 | -€9,157 | -8.3% |
| Equity | 10/15 | €74,057 | €85,964 | +€11,907 | +16.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €71,057 | €82,964 | +€11,907 | +16.8% |
| Distributable reserves | 133 | €71,057 | €82,964 | +€11,907 | +16.8% |
| Amounts payable | 17/49 | €36,657 | €15,593 | -€21,064 | -57.5% |
| Amounts payable after more than one year | 17 | €12,434 | €4,195 | -€8,239 | -66.3% |
| Financial debts | 170/4 | €12,434 | €4,195 | -€8,239 | -66.3% |
| Amounts payable within one year | 42/48 | €24,223 | €11,398 | -€12,825 | -52.9% |
| Current portion of amounts payable after more than one year | 42 | €8,042 | €8,239 | +€197 | +2.5% |
| Trade debts | 44 | €1,355 | €1,147 | -€207 | -15.3% |
| Suppliers | 440/4 | €1,355 | €1,147 | -€207 | -15.3% |
| Taxes, remuneration and social security | 45 | €14,826 | €2,012 | -€12,815 | -86.4% |
| Taxes | 450/3 | €14,826 | €2,012 | -€12,815 | -86.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,743 | €12,496 | +€753 | +6.4% |
| Other operating charges | 640/8 | €1,103 | €1,105 | +€2 | +0.2% |
| Gross operating margin | 9900 | €42,599 | €28,886 | -€13,714 | -32.2% |
| Operating profit (loss) | 9901 | €29,753 | €15,284 | -€14,469 | -48.6% |
| Financial income | 75/76B | €450 | €790 | +€340 | +75.5% |
| Recurring financial income | 75 | €450 | €790 | +€340 | +75.5% |
| Financial charges | 65/66B | €726 | €562 | -€164 | -22.6% |
| Recurring financial charges | 65 | €726 | €562 | -€164 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €29,477 | €15,512 | -€13,965 | -47.4% |
| Income taxes | 67/77 | €6,531 | €3,604 | -€2,927 | -44.8% |
| Profit (loss) for the period | 9904 | €22,946 | €11,907 | -€11,039 | -48.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,946 | €11,907 | -€11,039 | -48.1% |
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 20 October 2026 via checked.be.