NUVADA: what changed
Two fiscal 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.
NUVADA
Largest movements
- Receivables within one year +€166,366
up €166,366 (+56.6%), from €294,114 to €460,480
of which Trade receivables: +€232,603
- Cash +€135,646
up €135,646 (+254.8%), from €53,229 to €188,876
mainly Debts after one year (+€220,865) and Net result for the year (+€167,962)
- Current investments -€20,000
down €20,000 (-100.0%), from €20,000 to €0
- Debts after one year +€220,865
up €220,865 (+62.9%), from €350,973 to €571,837
of which Trade debts: +€237,508
- Reserves +€37,962
up €37,962 (+14.8%), from €257,186 to €295,147
- Trade debts +€22,614
up €22,614 (+21.4%), from €105,530 to €128,144
- Taxes -€15,254
down €15,254 (-23.0%), from €66,439 to €51,186
- Depreciation +€10,899
up €10,899 (+10.8%), from €100,707 to €111,606
- Financial income -€9,775
down €9,775 (-59.7%), from €16,366 to €6,591
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.
Cash bridge derived
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 | €1,149,622 | €1,432,304 | +€282,683 | +24.6% |
| Fixed assets | 21/28 | €440,981 | €435,837 | -€5,144 | -1.2% |
| Tangible fixed assets | 22/27 | €440,731 | €435,587 | -€5,144 | -1.2% |
| Plant, machinery and equipment | 23 | €375,077 | €331,235 | -€43,842 | -11.7% |
| Leasing and similar rights | 25 | - | €63,552 | +€63,552 | |
| Other tangible fixed assets | 26 | €65,654 | €40,800 | -€24,854 | -37.9% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €708,640 | €996,467 | +€287,827 | +40.6% |
| Stocks and contracts in progress | 3 | €339,873 | €340,064 | +€190 | +0.1% |
| Stocks | 30/36 | €339,873 | €340,064 | +€190 | +0.1% |
| Amounts receivable within one year | 40/41 | €294,114 | €460,480 | +€166,366 | +56.6% |
| Trade receivables | 40 | €122,240 | €354,843 | +€232,603 | +190.3% |
| Other amounts receivable | 41 | €171,874 | €105,637 | -€66,237 | -38.5% |
| Current investments | 50/53 | €20,000 | €0 | -€20,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €53,229 | €188,876 | +€135,646 | +254.8% |
| Deferred charges and accrued income | 490/1 | €1,424 | €7,048 | +€5,624 | +395.0% |
| Total equity and liabilities | 10/49 | €1,149,622 | €1,432,304 | +€282,683 | +24.6% |
| Equity | 10/15 | €357,186 | €395,147 | +€37,962 | +10.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €257,186 | €295,147 | +€37,962 | +14.8% |
| Distributable reserves | 133 | €257,186 | €295,147 | +€37,962 | +14.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €792,436 | €1,037,157 | +€244,721 | +30.9% |
| Amounts payable after more than one year | 17 | €350,973 | €571,837 | +€220,865 | +62.9% |
| Financial debts | 170/4 | €231,657 | €215,014 | -€16,643 | -7.2% |
| Trade debts | 175 | €119,316 | €356,823 | +€237,508 | +199.1% |
| Amounts payable within one year | 42/48 | €435,231 | €459,089 | +€23,859 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €92,242 | €89,675 | -€2,567 | -2.8% |
| Trade debts | 44 | €105,530 | €128,144 | +€22,614 | +21.4% |
| Suppliers | 440/4 | €105,530 | €128,144 | +€22,614 | +21.4% |
| Taxes, remuneration and social security | 45 | €85,480 | €93,156 | +€7,677 | +9.0% |
| Taxes | 450/3 | €1,504 | €2,852 | +€1,348 | +89.6% |
| Remuneration and social security | 454/9 | €83,975 | €90,304 | +€6,329 | +7.5% |
| Other amounts payable | 47/48 | €151,979 | €148,114 | -€3,865 | -2.5% |
| Accrued charges and deferred income | 492/3 | €6,233 | €6,230 | -€2 | 0.0% |
| Remuneration, social security and pensions | 62 | €574,851 | €580,701 | +€5,851 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,707 | €111,606 | +€10,899 | +10.8% |
| Other operating charges | 640/8 | €3,894 | €6,604 | +€2,710 | +69.6% |
| Gross operating margin | 9900 | €953,829 | €946,425 | -€7,405 | -0.8% |
| Operating profit (loss) | 9901 | €274,377 | €247,513 | -€26,864 | -9.8% |
| Financial income | 75/76B | €16,366 | €6,591 | -€9,775 | -59.7% |
| Recurring financial income | 75 | €16,366 | €6,591 | -€9,775 | -59.7% |
| Financial charges | 65/66B | €27,105 | €34,957 | +€7,851 | +29.0% |
| Recurring financial charges | 65 | €27,105 | €34,957 | +€7,851 | +29.0% |
| Profit (loss) for the period before taxes | 9903 | €263,638 | €219,148 | -€44,490 | -16.9% |
| Income taxes | 67/77 | €66,439 | €51,186 | -€15,254 | -23.0% |
| Profit (loss) for the period | 9904 | €197,199 | €167,962 | -€29,237 | -14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €197,199 | €167,962 | -€29,237 | -14.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.