Novus Construct: 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.
Novus Construct
Largest movements
- Stocks and contracts -€978,041
down €978,041 (-8.1%), from €12.0m to €11.0m
- Cash +€338,985
up €338,985 (+145%), from €233,322 to €572,307
mainly Other debts (+€1.7m) and Stocks and contracts (+€978,041)
- Receivables within one year +€281,097
up €281,097 (+355%), from €79,248 to €360,345
of which Trade receivables: +€181,831
- Advances received -€1.7m
down €1.7m (-20.7%), from €8.3m to €6.6m
- Other debts +€1.7m
up €1.7m (+154%), from €1.1m to €2.8m
- Trade debts -€254,579
down €254,579 (-35.0%), from €727,331 to €472,752
- Gross operating margin -€272,380
down €272,380 (-48.2%), from €565,589 to €293,208
- Taxes -€71,002
down €71,002 (-78.9%), from €89,989 to €18,987
- Staff costs +€21,443
up €21,443 (+14.2%), from €150,943 to €172,386
- Financial income +€9,505
up €9,505 (+31.7%), from €29,962 to €39,467
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 | €13,094,823 | €12,803,114 | -€291,708 | -2.2% |
| Fixed assets | 21/28 | €56,111 | €48,163 | -€7,947 | -14.2% |
| Tangible fixed assets | 22/27 | €50,423 | €40,711 | -€9,711 | -19.3% |
| Furniture and vehicles | 24 | €50,423 | €40,711 | -€9,711 | -19.3% |
| Financial fixed assets | 28 | €5,688 | €7,452 | +€1,764 | +31.0% |
| Current assets | 29/58 | €13,038,712 | €12,754,951 | -€283,761 | -2.2% |
| Stocks and contracts in progress | 3 | €12,005,340 | €11,027,299 | -€978,041 | -8.1% |
| Stocks | 30/36 | €12,005,340 | €11,027,299 | -€978,041 | -8.1% |
| Amounts receivable within one year | 40/41 | €79,248 | €360,345 | +€281,097 | +355% |
| Trade receivables | 40 | €63,754 | €245,585 | +€181,831 | +285% |
| Other amounts receivable | 41 | €15,495 | €114,760 | +€99,265 | +641% |
| Cash at bank and in hand | 54/58 | €233,322 | €572,307 | +€338,985 | +145% |
| Deferred charges and accrued income | 490/1 | €720,801 | €795,000 | +€74,199 | +10.3% |
| Total equity and liabilities | 10/49 | €13,094,823 | €12,803,114 | -€291,708 | -2.2% |
| Equity | 10/15 | €2,298,364 | €2,350,748 | +€52,384 | +2.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €2,048,364 | €2,100,748 | +€52,384 | +2.6% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €2,023,364 | €2,075,748 | +€52,384 | +2.6% |
| Amounts payable | 17/49 | €10,796,458 | €10,452,366 | -€344,092 | -3.2% |
| Amounts payable within one year | 42/48 | €10,749,302 | €10,400,706 | -€348,596 | -3.2% |
| Financial debts | 43 | €552,953 | €552,782 | -€171 | 0.0% |
| Credit institutions | 430/8 | €552,953 | €552,782 | -€171 | 0.0% |
| Trade debts | 44 | €727,331 | €472,752 | -€254,579 | -35.0% |
| Suppliers | 440/4 | €727,331 | €472,752 | -€254,579 | -35.0% |
| Advances received on contracts in progress | 46 | €8,274,796 | €6,558,890 | -€1.7m | -20.7% |
| Taxes, remuneration and social security | 45 | €96,656 | €27,143 | -€69,513 | -71.9% |
| Taxes | 450/3 | €80,821 | €8,774 | -€72,047 | -89.1% |
| Remuneration and social security | 454/9 | €15,835 | €18,369 | +€2,534 | +16.0% |
| Other amounts payable | 47/48 | €1,097,565 | €2,789,139 | +€1.7m | +154% |
| Accrued charges and deferred income | 492/3 | €47,157 | €51,660 | +€4,503 | +9.5% |
| Non-recurring operating income | 76A | €7,209 | €0 | -€7,209 | -100% |
| Remuneration, social security and pensions | 62 | €150,943 | €172,386 | +€21,443 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,878 | €13,509 | +€2,631 | +24.2% |
| Other operating charges | 640/8 | €2,801 | €2,446 | -€355 | -12.7% |
| Gross operating margin | 9900 | €565,589 | €293,208 | -€272,380 | -48.2% |
| Operating profit (loss) | 9901 | €400,967 | €104,867 | -€296,100 | -73.8% |
| Financial income | 75/76B | €29,962 | €39,467 | +€9,505 | +31.7% |
| Recurring financial income | 75 | €29,962 | €39,467 | +€9,505 | +31.7% |
| Financial charges | 65/66B | €73,117 | €72,963 | -€155 | -0.2% |
| Recurring financial charges | 65 | €73,117 | €72,963 | -€155 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €357,811 | €71,371 | -€286,440 | -80.1% |
| Income taxes | 67/77 | €89,989 | €18,987 | -€71,002 | -78.9% |
| Profit (loss) for the period | 9904 | €267,822 | €52,384 | -€215,438 | -80.4% |
| Profit (loss) for the period to be appropriated | 9905 | €267,822 | €52,384 | -€215,438 | -80.4% |
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 30 October 2026 via checked.be.