2M INVEST: 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.
2M INVEST
Largest movements
- Deferred charges and accrued income -€38,949
down €38,949 (-91.9%), from €42,386 to €3,437
- Tangible fixed assets -€31,241
down €31,241 (-18.7%), from €166,981 to €135,740
of which Furniture and vehicles: -€18,396
- Receivables within one year +€20,505
up €20,505 (+91.7%), from €22,356 to €42,861
of which Other amounts receivable: +€24,273
- Cash -€19,321
down €19,321 (-40.5%), from €47,724 to €28,403
mainly Debts after one year (-€55,227) and Trade debts (-€21,191)
- Debts after one year -€55,227
down €55,227 (-52.0%), from €106,113 to €50,886
- Trade debts -€21,191
down €21,191 (-86.4%), from €24,536 to €3,345
- Tax, wage and social debts +€17,743
up €17,743 (+50.7%), from €35,019 to €52,762
of which Taxes: +€15,044
- Current portion of long-term debt -€10,069
down €10,069 (-23.9%), from €42,209 to €32,140
- Gross operating margin -€26,829
down €26,829 (-17.5%), from €153,351 to €126,522
- Depreciation +€18,520
up €18,520 (+117%), from €15,821 to €34,341
- Taxes -€10,668
down €10,668 (-68.0%), from €15,688 to €5,020
- Staff costs +€2,437
up €2,437 (+3.8%), from €63,921 to €66,358
- Other operating charges -€2,415
down €2,415 (-29.2%), from €8,280 to €5,865
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 | €587,562 | €518,556 | -€69,006 | -11.7% |
| Fixed assets | 21/28 | €475,096 | €443,855 | -€31,241 | -6.6% |
| Tangible fixed assets | 22/27 | €166,981 | €135,740 | -€31,241 | -18.7% |
| Land and buildings | 22 | €55,294 | €49,597 | -€5,697 | -10.3% |
| Furniture and vehicles | 24 | €81,380 | €62,984 | -€18,396 | -22.6% |
| Leasing and similar rights | 25 | €30,307 | €23,159 | -€7,148 | -23.6% |
| Financial fixed assets | 28 | €308,115 | €308,115 | = | 0.0% |
| Current assets | 29/58 | €112,466 | €74,701 | -€37,765 | -33.6% |
| Amounts receivable within one year | 40/41 | €22,356 | €42,861 | +€20,505 | +91.7% |
| Trade receivables | 40 | €3,768 | - | -€3,768 | |
| Other amounts receivable | 41 | €18,588 | €42,861 | +€24,273 | +131% |
| Cash at bank and in hand | 54/58 | €47,724 | €28,403 | -€19,321 | -40.5% |
| Deferred charges and accrued income | 490/1 | €42,386 | €3,437 | -€38,949 | -91.9% |
| Total equity and liabilities | 10/49 | €587,562 | €518,556 | -€69,006 | -11.7% |
| Equity | 10/15 | €368,846 | €369,356 | +€510 | +0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €350,246 | €350,756 | +€510 | +0.1% |
| Non-distributable reserves | 130/1 | €4,000 | €4,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €346,246 | €346,756 | +€510 | +0.1% |
| Amounts payable | 17/49 | €218,716 | €149,200 | -€69,516 | -31.8% |
| Amounts payable after more than one year | 17 | €106,113 | €50,886 | -€55,227 | -52.0% |
| Financial debts | 170/4 | €106,113 | €50,886 | -€55,227 | -52.0% |
| Amounts payable within one year | 42/48 | €111,812 | €98,247 | -€13,565 | -12.1% |
| Current portion of amounts payable after more than one year | 42 | €42,209 | €32,140 | -€10,069 | -23.9% |
| Trade debts | 44 | €24,536 | €3,345 | -€21,191 | -86.4% |
| Suppliers | 440/4 | €24,536 | €3,345 | -€21,191 | -86.4% |
| Taxes, remuneration and social security | 45 | €35,019 | €52,762 | +€17,743 | +50.7% |
| Taxes | 450/3 | €23,854 | €38,898 | +€15,044 | +63.1% |
| Remuneration and social security | 454/9 | €11,165 | €13,864 | +€2,699 | +24.2% |
| Other amounts payable | 47/48 | €10,048 | €10,000 | -€48 | -0.5% |
| Accrued charges and deferred income | 492/3 | €791 | €67 | -€724 | -91.5% |
| Remuneration, social security and pensions | 62 | €63,921 | €66,358 | +€2,437 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,821 | €34,341 | +€18,520 | +117% |
| Other operating charges | 640/8 | €8,280 | €5,865 | -€2,415 | -29.2% |
| Gross operating margin | 9900 | €153,351 | €126,522 | -€26,829 | -17.5% |
| Operating profit (loss) | 9901 | €65,329 | €19,958 | -€45,371 | -69.5% |
| Financial income | 75/76B | - | €421 | +€421 | |
| Recurring financial income | 75 | - | €421 | +€421 | |
| Financial charges | 65/66B | €5,212 | €4,849 | -€363 | -7.0% |
| Recurring financial charges | 65 | €5,212 | €4,849 | -€363 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €60,117 | €15,530 | -€44,587 | -74.2% |
| Income taxes | 67/77 | €15,688 | €5,020 | -€10,668 | -68.0% |
| Profit (loss) for the period | 9904 | €44,429 | €10,510 | -€33,919 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,429 | €10,510 | -€33,919 | -76.3% |
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.