Novus: 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
Novus
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€97,145
2024 · €2.1m-€2.0m
Equity
€42.3m
2024 · €43.2m-€922,855
Cash
€248,289
2024 · €596,587-€348,298
Balance sheet total
€70.1m
2024 · €72.2m-€2.1m
Largest movements
Assets
- Financial fixed assets -€2.0m
down €2.0m (-35.4%), from €5.6m to €3.6m
of which Affiliated companies: -€2.0m
- Deferred charges and accrued income -€2.0m
down €2.0m (-23.5%), from €8.5m to €6.5m
- Receivables within one year +€1.4m
up €1.4m (+18.0%), from €7.6m to €8.9m
of which Other amounts receivable: +€1.4m
- Stocks and contracts +€725,913
up €725,913 (+1.7%), from €42.6m to €43.4m
Equity and liabilities
- Short-term financial debts +€9.1m
up €9.1m (+102%), from €8.9m to €18.0m
- Other debts -€8.6m
down €8.6m (-55.0%), from €15.6m to €7.0m
- Debts after one year -€1.3m
down €1.3m (-43.9%), from €2.9m to €1.6m
- Reserves -€922,855
down €922,855 (-2.2%), from €41.4m to €40.5m
of which Distributable reserves: -€922,855
Income statement
- Turnover -€7.6m
down €7.6m (-42.7%), from €17.8m to €10.2m
- Goods and materials -€6.1m
down €6.1m (-43.5%), from €14.0m to €7.9m
- Taxes -€656,922
down €656,922 (-93.8%), from €700,170 to €43,248
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.
Result 2024
€2.1m
Turnover
-€7.6m
Other operating income
-€32,291
Goods and materials
+€6.1m
Services and other goods
-€11,397
Staff costs
+€129,639
Depreciation
-€3,536
Other operating charges
+€1,298
Other operating items
-€1.4m
Financial income
+€9,732
Financial charges
+€125,992
Taxes
+€656,922
Result 2025
€97,145
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€9.1m
Investment
+€2.0m
Financing
+€6.8m
Cash 2024
€596,587
From operations (derived)
-€9.1m
Net result for the year
+€97,145
Depreciation
+€57,689
Receivables after one year
-€191,170
Stocks and contracts
-€725,913
Receivables within one year
-€1.4m
Deferred charges and accrued income
+€2.0m
Trade debts
-€315,198
Smaller working-capital items
+€4,529
Advances received
-€120,518
Other debts
-€8.6m
Investment (derived)
+€2.0m
Investment in fixed assets (net)
+€2.0m
Financing
+€6.8m
Debts after one year
-€1.3m
Short-term financial debts
+€9.1m
Contributions, distributions and other
-€1.0m
Cash 2025
€248,289
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,200,798 | €70,126,044 | -€2.1m | -2.9% |
| Fixed assets | 21/28 | €6,459,918 | €4,442,487 | -€2.0m | -31.2% |
| Tangible fixed assets | 22/27 | €840,603 | €812,485 | -€28,118 | -3.3% |
| Land and buildings | 22 | €734,114 | €699,875 | -€34,239 | -4.7% |
| Plant, machinery and equipment | 23 | €32,284 | €38,788 | +€6,504 | +20.1% |
| Furniture and vehicles | 24 | €74,205 | €73,822 | -€383 | -0.5% |
| Financial fixed assets | 28 | €5,619,315 | €3,630,002 | -€2.0m | -35.4% |
| Affiliated companies | 280/1 | €5,044,715 | €3,019,177 | -€2.0m | -40.2% |
| Participating interests | 280 | €5,044,715 | €3,019,177 | -€2.0m | -40.2% |
| Companies linked by participating interests | 282/3 | €574,600 | €574,600 | = | 0.0% |
| Participating interests | 282 | €574,600 | €574,600 | = | 0.0% |
| Other financial fixed assets | 284/8 | - | €36,225 | +€36,225 | |
| Amounts receivable and cash guarantees | 285/8 | - | €36,225 | +€36,225 | |
| Current assets | 29/58 | €65,740,880 | €65,683,558 | -€57,322 | -0.1% |
| Amounts receivable after more than one year | 29 | €6,465,917 | €6,657,087 | +€191,170 | +3.0% |
| Other amounts receivable | 291 | €6,465,917 | €6,657,087 | +€191,170 | +3.0% |
| Stocks and contracts in progress | 3 | €42,649,874 | €43,375,787 | +€725,913 | +1.7% |
| Stocks | 30/36 | €42,649,874 | €43,375,787 | +€725,913 | +1.7% |
| Property held for sale | 35 | €42,649,874 | €43,375,787 | +€725,913 | +1.7% |
| Amounts receivable within one year | 40/41 | €7,550,272 | €8,912,506 | +€1.4m | +18.0% |
| Trade receivables | 40 | €71,553 | €8,171 | -€63,382 | -88.6% |
| Other amounts receivable | 41 | €7,478,718 | €8,904,335 | +€1.4m | +19.1% |
| Cash at bank and in hand | 54/58 | €596,587 | €248,289 | -€348,298 | -58.4% |
| Deferred charges and accrued income | 490/1 | €8,478,230 | €6,489,889 | -€2.0m | -23.5% |
| Total equity and liabilities | 10/49 | €72,200,798 | €70,126,044 | -€2.1m | -2.9% |
| Equity | 10/15 | €43,174,460 | €42,251,604 | -€922,855 | -2.1% |
| Contributions | 10/11 | €1,768,600 | €1,768,600 | = | 0.0% |
| Capital | 10 | €1,768,600 | €1,768,600 | = | 0.0% |
| Issued capital | 100 | €2,018,600 | €2,018,600 | = | 0.0% |
| Uncalled capital | 101 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €41,405,860 | €40,483,004 | -€922,855 | -2.2% |
| Non-distributable reserves | 130/1 | €201,860 | €201,860 | = | 0.0% |
| Legal reserve | 130 | €201,860 | €201,860 | = | 0.0% |
| Distributable reserves | 133 | €41,204,000 | €40,281,144 | -€922,855 | -2.2% |
| Amounts payable | 17/49 | €29,026,338 | €27,874,440 | -€1.2m | -4.0% |
| Amounts payable after more than one year | 17 | €2,854,181 | €1,600,000 | -€1.3m | -43.9% |
| Financial debts | 170/4 | €2,854,181 | €1,600,000 | -€1.3m | -43.9% |
| Credit institutions | 173 | €2,000,000 | €1,600,000 | -€400,000 | -20.0% |
| Other loans | 174 | €854,181 | €0 | -€854,181 | -100% |
| Amounts payable within one year | 42/48 | €26,148,288 | €26,258,022 | +€109,733 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €400,000 | €400,000 | = | 0.0% |
| Financial debts | 43 | €8,877,162 | €17,962,974 | +€9.1m | +102% |
| Credit institutions | 430/8 | €8,877,162 | €17,962,974 | +€9.1m | +102% |
| Trade debts | 44 | €531,290 | €216,092 | -€315,198 | -59.3% |
| Suppliers | 440/4 | €531,290 | €216,092 | -€315,198 | -59.3% |
| Advances received on contracts in progress | 46 | €727,498 | €606,980 | -€120,518 | -16.6% |
| Taxes, remuneration and social security | 45 | €58,141 | €70,120 | +€11,979 | +20.6% |
| Taxes | 450/3 | €33,971 | €39,764 | +€5,793 | +17.1% |
| Remuneration and social security | 454/9 | €24,170 | €30,356 | +€6,186 | +25.6% |
| Other amounts payable | 47/48 | €15,554,199 | €7,001,856 | -€8.6m | -55.0% |
| Accrued charges and deferred income | 492/3 | €23,868 | €16,418 | -€7,450 | -31.2% |
| Operating income | 70/76A | €17,901,620 | €10,260,428 | -€7.6m | -42.7% |
| Turnover | 70 | €17,815,106 | €10,206,204 | -€7.6m | -42.7% |
| Other operating income | 74 | €86,515 | €54,223 | -€32,291 | -37.3% |
| Operating charges | 60/66A | €14,830,775 | €9,983,087 | -€4.8m | -32.7% |
| Goods for resale, raw materials and consumables | 60 | €14,004,229 | €7,905,560 | -€6.1m | -43.5% |
| Purchases | 600/8 | €14,004,229 | €7,905,560 | -€6.1m | -43.5% |
| Services and other goods | 61 | €353,377 | €364,774 | +€11,397 | +3.2% |
| Remuneration, social security and pensions | 62 | €346,788 | €217,150 | -€129,639 | -37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,153 | €57,689 | +€3,536 | +6.5% |
| Other operating charges | 640/8 | €72,228 | €70,930 | -€1,298 | -1.8% |
| Non-recurring operating charges | 66A | - | €1,366,984 | +€1.4m | |
| Operating profit (loss) | 9901 | €3,070,846 | €277,341 | -€2.8m | -91.0% |
| Financial income | 75/76B | €374,582 | €384,313 | +€9,732 | +2.6% |
| Recurring financial income | 75 | €374,582 | €384,313 | +€9,732 | +2.6% |
| Income from financial fixed assets | 750 | €327,362 | - | -€327,362 | |
| Income from current assets | 751 | - | €384,283 | +€384,283 | |
| Other financial income | 752/9 | €47,220 | €30 | -€47,189 | -99.9% |
| Financial charges | 65/66B | €647,254 | €521,262 | -€125,992 | -19.5% |
| Recurring financial charges | 65 | €647,254 | €521,262 | -€125,992 | -19.5% |
| Debt charges | 650 | €617,839 | €514,220 | -€103,619 | -16.8% |
| Other financial charges | 652/9 | €29,415 | €7,041 | -€22,373 | -76.1% |
| Profit (loss) for the period before taxes | 9903 | €2,798,174 | €140,393 | -€2.7m | -95.0% |
| Income taxes | 67/77 | €700,170 | €43,248 | -€656,922 | -93.8% |
| Taxes | 670/3 | €700,170 | €43,248 | -€656,922 | -93.8% |
| Profit (loss) for the period | 9904 | €2,098,003 | €97,145 | -€2.0m | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,098,003 | €97,145 | -€2.0m | -95.4% |
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.