A-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.
A-Invest
Largest movements
- Tangible fixed assets -€95,284
down €95,284 (-6.6%), from €1.4m to €1.3m
of which Land and buildings: -€92,073
- Debts after one year +€560,213
up €560,213 (+43.8%), from €1.3m to €1.8m
of which Financial debts: +€564,333
- Other debts -€414,365
down €414,365 (-85.7%), from €483,376 to €69,011
- Current portion of long-term debt -€100,818
down €100,818 (-79.2%), from €127,332 to €26,514
- Profit (loss) carried forward -€90,166
down €90,166 (-16.6%), from -€543,860 to -€634,026
- Trade debts -€32,928
down €32,928 (-68.8%), from €47,846 to €14,918
- Gross operating margin -€61,999
down €61,999 (-42.7%), from €145,242 to €83,243
- Financial charges -€13,343
down €13,343 (-22.8%), from €58,506 to €45,163
- Other operating charges +€4,597
up €4,597 (+17.4%), from €26,368 to €30,965
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 | €1,461,482 | €1,383,418 | -€78,064 | -5.3% |
| Fixed assets | 21/28 | €1,444,431 | €1,349,148 | -€95,284 | -6.6% |
| Tangible fixed assets | 22/27 | €1,444,431 | €1,349,148 | -€95,284 | -6.6% |
| Land and buildings | 22 | €1,424,848 | €1,332,774 | -€92,073 | -6.5% |
| Plant, machinery and equipment | 23 | €7,367 | €4,656 | -€2,711 | -36.8% |
| Furniture and vehicles | 24 | €5,443 | €5,710 | +€267 | +4.9% |
| Other tangible fixed assets | 26 | €6,774 | €6,008 | -€766 | -11.3% |
| Current assets | 29/58 | €17,050 | €34,270 | +€17,219 | +101% |
| Amounts receivable within one year | 40/41 | - | €7,322 | +€7,322 | |
| Trade receivables | 40 | - | €1,727 | +€1,727 | |
| Other amounts receivable | 41 | - | €5,595 | +€5,595 | |
| Cash at bank and in hand | 54/58 | €17,050 | €26,948 | +€9,898 | +58.1% |
| Total equity and liabilities | 10/49 | €1,461,482 | €1,383,418 | -€78,064 | -5.3% |
| Equity | 10/15 | -€476,875 | -€567,041 | -€90,166 | -18.9% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €5,011 | €5,011 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,011 | €5,011 | = | 0.0% |
| Legal reserve | 130 | €5,011 | €5,011 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€543,860 | -€634,026 | -€90,166 | -16.6% |
| Amounts payable | 17/49 | €1,938,357 | €1,950,459 | +€12,102 | +0.6% |
| Amounts payable after more than one year | 17 | €1,279,803 | €1,840,016 | +€560,213 | +43.8% |
| Financial debts | 170/4 | €1,052,658 | €1,616,991 | +€564,333 | +53.6% |
| Other amounts payable | 178/9 | €227,145 | €223,025 | -€4,120 | -1.8% |
| Amounts payable within one year | 42/48 | €658,554 | €110,443 | -€548,111 | -83.2% |
| Current portion of amounts payable after more than one year | 42 | €127,332 | €26,514 | -€100,818 | -79.2% |
| Trade debts | 44 | €47,846 | €14,918 | -€32,928 | -68.8% |
| Suppliers | 440/4 | €47,846 | €14,918 | -€32,928 | -68.8% |
| Other amounts payable | 47/48 | €483,376 | €69,011 | -€414,365 | -85.7% |
| Non-recurring operating income | 76A | €12,227 | €0 | -€12,227 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,136 | €97,282 | -€854 | -0.9% |
| Other operating charges | 640/8 | €26,368 | €30,965 | +€4,597 | +17.4% |
| Gross operating margin | 9900 | €145,242 | €83,243 | -€61,999 | -42.7% |
| Operating profit (loss) | 9901 | €20,738 | -€45,003 | -€65,741 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €58,506 | €45,163 | -€13,343 | -22.8% |
| Recurring financial charges | 65 | €58,506 | €45,163 | -€13,343 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | -€37,768 | -€90,166 | -€52,398 | -139% |
| Profit (loss) for the period | 9904 | -€37,768 | -€90,166 | -€52,398 | -139% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,768 | -€90,166 | -€52,398 | -139% |
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 25 October 2026 via checked.be.