Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Negative equity NBB
More debt than assets in 1 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 2.8 to 1.8.
Financials
Financial year 2025
NOVANEL from Brugge, company number BE0823959570, closed financial year 2025 with a result of € -251,232 after tax. For that financial year NOVANEL recorded a gross margin of € -18,929 and equity of € -183,879. Compared with financial year 2024, the result moved from € -214,837 to € -251,232. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 8, 2026.
€ -183,879
▼ € 251,232 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -251,232
▼ 17 % more loss than in 2024
Profit after tax over the fiscal year.
€ 133,065
▲ 113% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -483,879.
People and assets in 2025
1.8
▼ 0.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 133,100
▼ 15% vs 2024
€ 73,900 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 99,437
▲ € 91,087 vs 2024
Of which on lease € 95,667.
Debts at end 2025
€ 152,935
▼ 34% vs 2024
€ 75,946 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 857
▼ 97% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 20,373
▼ 54% vs 2024
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 286,985 | € 244,506 | € 40,201 | € -18,929 | ▼ € 59,130 |
| Profit after taxes | € 17,618 | € 116 | € -214,837 | € -251,232 | ▼ € 36,395 |
| Equity | € 282,074 | € 282,190 | € 67,353 | € -183,879 | ▼ € 251,232 |
| Total debts | € 670,690 | € 673,448 | € 604,754 | € 469,318 | ▼ 22% |
| Cash | € 92,694 | € 79,653 | € 62,414 | € 133,065 | ▲ 113% |
| Retained profit | € -17,926 | € -17,810 | € -232,647 | € -483,879 | ▼ € 251,232 |
| Bank debt | € 277,397 | € 304,367 | € 230,171 | € 152,935 | ▼ 34% |
| Balance sheet total | € 952,764 | € 955,638 | € 672,107 | € 285,439 | ▼ 58% |
| Employees (FTE) | 2.8 | 2.8 | 2.3 | 1.8 | ▼ 0.5 |
By gross margin, NOVANEL ranks 4th of 4 companies with main activity “Detailhandel in uurwerken en sieraden” in Brugge that publish figures (fiscal year 2025).
Key figures of NOVANEL, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
Ask about NOVANEL the way you would ask their accountant.
Answers from the filed annual accounts, the Belgian Official Gazette and the CBE register.
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What happened to NOVANEL?
What happened at NOVANEL in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 251,232. Source: NBB ↗
- Twinvest BV became a director. NBB
- Nele Verstraete became a director. NBB
- New establishment in Brugge. KBO
- Incorporation, published in the Gazette. Source: Staatsblad ↗
In short
From € 17,618 profit in 2022 to € 251,232 loss in 2025.
Paid € 1,183 in corporate taxes since 2022.
Best year ever: 2022, with € 17,618 profit.
On average € 17,500 of value added per employee in 2024.
Management
Behind NOVANEL are Twinvest BV and Nele Verstraete. The same people are also behind PAVERCO INVESTMENT & MANAGEMENT. Twinvest BV is also behind GKAN Partners. Nele Verstraete is also behind TWINVEST.
Directors
According to the 2025 annual accounts
Director · represented by Vangheluwe Stefaan
Also active at: PAVERCO INVESTMENT & MANAGEMENT, GKAN Partners
since 2020
since 2020
Establishments
Establishment units
Physical locations of this company
Messem 11
8200 Brugge
Langestraat 47B
8000 Brugge
Active since 15 April 2010
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 5 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Similar companies in Brugge
Same main activity (Detailhandel in uurwerken en sieraden), 5 active companies in Brugge, largest first.
€ 240,109 gross margin · 2025
€ 55,747 gross margin · 2025
€ 2,381 gross margin · 2025
Website
Technologies
Hosting & Email
Email provider
Outlook.com (free)
Hosting
GOOGLE-CLOUD-PLATFORM - Google LLC, US
Website info
Features
Security
Shareholders according to the Official Gazette deeds
Who contributed at incorporation and at capital increases, with the deed as source. Later share transfers are not published in the Gazette.
Incorporation
Source: Deed ↗- Nele VERSTRAETE(oprichter) 100%
Details
- Company number
- 0823.959.570
- VAT number
- BE 0823.959.570
- Registered office
- Messem 11, 8200 Brugge
- Names & denominations
- NOVANEL
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 10 March 2010
- Peppol
- Active · Active since 13 Jul 2026
- Activities · NACE
Detailhandel in uurwerken en sieraden
Overige niet-gespecialiseerde detailhandel
Overige persoonlijke diensten
Detailhandel via postorderbedrijven of via internet