199 INVEST: what changed
199 INVEST
Largest movements
- Receivables within one year +€27,656
new in 2025: €27,656
of which Trade receivables: +€25,410
- Intangible fixed assets -€27,534
down €27,534 (-25.9%), from €106,438 to €78,905
- Cash +€8,837
up €8,837 (+184%), from €4,806 to €13,643
mainly Other debts (+€90,533) and Depreciation (+€27,534)
- Other debts +€90,533
up €90,533 (+66.0%), from €137,233 to €227,766
- Profit (loss) carried forward -€41,330
down €41,330 (-28.1%), from -€147,008 to -€188,339
- Debts after one year -€34,681
down €34,681 (-15.7%), from €220,390 to €185,708
of which Trade debts: -€50,000
- Tax, wage and social debts -€5,272
down €5,272 (-30.7%), from €17,197 to €11,925
of which Taxes: -€7,720
- Gross operating margin -€40,965
down €40,965, from €37,010 to -€3,956
- Taxes -€6,842
down €6,842, from €6,153 to -€688
- Financial charges -€2,101
down €2,101 (-17.5%), from €12,009 to €9,908
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €411,282 | €420,278 | +€8,997 | +2.2% |
| Fixed assets | 21/28 | €406,438 | €378,941 | -€27,497 | -6.8% |
| Intangible fixed assets | 21 | €106,438 | €78,905 | -€27,534 | -25.9% |
| Financial fixed assets | 28 | €300,000 | €300,037 | +€37 | 0.0% |
| Current assets | 29/58 | €4,844 | €41,337 | +€36,493 | +753% |
| Amounts receivable within one year | 40/41 | - | €27,656 | +€27,656 | |
| Trade receivables | 40 | - | €25,410 | +€25,410 | |
| Other amounts receivable | 41 | - | €2,246 | +€2,246 | |
| Cash at bank and in hand | 54/58 | €4,806 | €13,643 | +€8,837 | +184% |
| Deferred charges and accrued income | 490/1 | €38 | €38 | = | 0.0% |
| Total equity and liabilities | 10/49 | €411,282 | €420,278 | +€8,997 | +2.2% |
| Equity | 10/15 | -€340 | -€41,671 | -€41,330 | -12,142% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €143,668 | €143,668 | = | 0.0% |
| Tax-exempt reserves | 132 | €112,438 | €84,905 | -€27,534 | -24.5% |
| Distributable reserves | 133 | €31,230 | €58,763 | +€27,534 | +88.2% |
| Profit (loss) carried forward | 14 | -€147,008 | -€188,339 | -€41,330 | -28.1% |
| Amounts payable | 17/49 | €411,622 | €461,949 | +€50,327 | +12.2% |
| Amounts payable after more than one year | 17 | €220,390 | €185,708 | -€34,681 | -15.7% |
| Financial debts | 170/4 | €170,390 | €185,708 | +€15,319 | +9.0% |
| Trade debts | 175 | €50,000 | - | -€50,000 | |
| Amounts payable within one year | 42/48 | €190,388 | €276,241 | +€85,853 | +45.1% |
| Current portion of amounts payable after more than one year | 42 | €35,700 | €34,681 | -€1,018 | -2.9% |
| Trade debts | 44 | €258 | €1,869 | +€1,611 | +625% |
| Suppliers | 440/4 | €258 | €1,869 | +€1,611 | +625% |
| Taxes, remuneration and social security | 45 | €17,197 | €11,925 | -€5,272 | -30.7% |
| Taxes | 450/3 | €17,197 | €9,478 | -€7,720 | -44.9% |
| Remuneration and social security | 454/9 | - | €2,447 | +€2,447 | |
| Other amounts payable | 47/48 | €137,233 | €227,766 | +€90,533 | +66.0% |
| Accrued charges and deferred income | 492/3 | €845 | €0 | -€845 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,534 | €27,534 | = | 0.0% |
| Other operating charges | 640/8 | €871 | €622 | -€249 | -28.6% |
| Gross operating margin | 9900 | €37,010 | -€3,956 | -€40,965 | |
| Operating profit (loss) | 9901 | €8,605 | -€32,111 | -€40,716 | |
| Financial charges | 65/66B | €12,009 | €9,908 | -€2,101 | -17.5% |
| Recurring financial charges | 65 | €12,009 | €9,908 | -€2,101 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,404 | -€42,018 | -€38,615 | -1,135% |
| Income taxes | 67/77 | €6,153 | -€688 | -€6,842 | |
| Profit (loss) for the period | 9904 | -€9,557 | -€41,330 | -€31,773 | -332% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,557 | -€41,330 | -€31,773 | -332% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.