AT INVESTISSEMENTS: what changed
AT INVESTISSEMENTS
Largest movements
- Tangible fixed assets +€1.1m
new in 2025: €1.1m
of which Land and buildings: +€1.1m
- Stocks and contracts -€269,738
down €269,738 (-65.5%), from €411,683 to €141,945
- Receivables within one year +€187,779
up €187,779 (+777%), from €24,168 to €211,947
of which Other amounts receivable: +€111,098
- Cash +€169,601
up €169,601 (+1,117%), from €15,187 to €184,788
mainly Debts after one year (+€723,955) and Stocks and contracts (+€269,738)
- Debts after one year +€723,955
new in 2025: €723,955
- Profit (loss) carried forward +€261,812
up €261,812 (+660%), from €39,691 to €301,503
- Trade debts +€93,012
up €93,012 (+231%), from €40,297 to €133,308
of which Suppliers: +€94,063
- Other debts +€62,632
up €62,632 (+18.0%), from €347,311 to €409,943
- Tax, wage and social debts +€56,160
up €56,160 (+271%), from €20,740 to €76,900
of which Taxes: +€53,526
- Gross operating margin +€328,440
up €328,440 (+516%), from €63,644 to €392,084
- Taxes +€64,343
up €64,343 (+648%), from €9,923 to €74,266
- Staff costs +€34,989
new in 2025: €34,989
- Depreciation +€23,102
new in 2025: €23,102
- Financial income +€9,306
up €9,306 (+286%), from €3,250 to €12,556
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 | €451,038 | €1,674,655 | +€1.2m | +271% |
| Fixed assets | 21/28 | - | €1,135,664 | +€1.1m | |
| Tangible fixed assets | 22/27 | - | €1,135,014 | +€1.1m | |
| Land and buildings | 22 | - | €1,097,685 | +€1.1m | |
| Plant, machinery and equipment | 23 | - | €6,333 | +€6,333 | |
| Furniture and vehicles | 24 | - | €30,995 | +€30,995 | |
| Financial fixed assets | 28 | - | €650 | +€650 | |
| Current assets | 29/58 | €451,038 | €538,991 | +€87,953 | +19.5% |
| Stocks and contracts in progress | 3 | €411,683 | €141,945 | -€269,738 | -65.5% |
| Stocks | 30/36 | €411,683 | €141,945 | -€269,738 | -65.5% |
| Amounts receivable within one year | 40/41 | €24,168 | €211,947 | +€187,779 | +777% |
| Trade receivables | 40 | €24,168 | €100,849 | +€76,680 | +317% |
| Other amounts receivable | 41 | - | €111,098 | +€111,098 | |
| Cash at bank and in hand | 54/58 | €15,187 | €184,788 | +€169,601 | +1,117% |
| Deferred charges and accrued income | 490/1 | - | €311 | +€311 | |
| Total equity and liabilities | 10/49 | €451,038 | €1,674,655 | +€1.2m | +271% |
| Equity | 10/15 | €42,691 | €304,503 | +€261,812 | +613% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,691 | €301,503 | +€261,812 | +660% |
| Amounts payable | 17/49 | €408,347 | €1,370,152 | +€961,804 | +236% |
| Amounts payable after more than one year | 17 | - | €723,955 | +€723,955 | |
| Financial debts | 170/4 | - | €723,955 | +€723,955 | |
| Amounts payable within one year | 42/48 | €408,347 | €646,196 | +€237,849 | +58.2% |
| Current portion of amounts payable after more than one year | 42 | - | €26,045 | +€26,045 | |
| Trade debts | 44 | €40,297 | €133,308 | +€93,012 | +231% |
| Suppliers | 440/4 | €39,245 | €133,308 | +€94,063 | +240% |
| Bills of exchange payable | 441 | €1,051 | - | -€1,051 | |
| Taxes, remuneration and social security | 45 | €20,740 | €76,900 | +€56,160 | +271% |
| Taxes | 450/3 | €20,740 | €74,266 | +€53,526 | +258% |
| Remuneration and social security | 454/9 | - | €2,634 | +€2,634 | |
| Other amounts payable | 47/48 | €347,311 | €409,943 | +€62,632 | +18.0% |
| Remuneration, social security and pensions | 62 | - | €34,989 | +€34,989 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €23,102 | +€23,102 | |
| Other operating charges | 640/8 | €4,489 | €7,378 | +€2,889 | +64.4% |
| Gross operating margin | 9900 | €63,644 | €392,084 | +€328,440 | +516% |
| Operating profit (loss) | 9901 | €59,155 | €326,616 | +€267,460 | +452% |
| Financial income | 75/76B | €3,250 | €12,556 | +€9,306 | +286% |
| Recurring financial income | 75 | €3,250 | €12,556 | +€9,306 | +286% |
| Financial charges | 65/66B | €3,184 | €3,094 | -€91 | -2.9% |
| Recurring financial charges | 65 | €3,184 | €3,094 | -€91 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €59,221 | €336,078 | +€276,857 | +467% |
| Income taxes | 67/77 | €9,923 | €74,266 | +€64,343 | +648% |
| Profit (loss) for the period | 9904 | €49,298 | €261,812 | +€212,514 | +431% |
| Profit (loss) for the period to be appropriated | 9905 | €49,298 | €261,812 | +€212,514 | +431% |
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 6 November 2026 via checked.be.