Ayers Invest: what changed
Two fiscal 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.
What changed
Ayers Invest
NACE 64.210, Activities of holding companies
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€55,155
2024 · €73,990-€18,835
Equity
€3.6m
2024 · €3.7m-€78,874
Cash
€143,234
2024 · €149,524-€6,290
Balance sheet total
€3.8m
2024 · €3.8m+€31,579
Largest movements
Assets
- Current investments +€177,766
up €177,766 (+17.4%), from €1.0m to €1.2m
- Tangible fixed assets -€177,063
down €177,063 (-7.4%), from €2.4m to €2.2m
of which Land and buildings: -€108,286
Equity and liabilities
- Other debts +€114,971
up €114,971 (+603.5%), from €19,049 to €134,020
- Reserves -€78,874
down €78,874 (-5.0%), from €1.6m to €1.5m
of which Distributable reserves: -€74,082
Income statement
- Gross operating margin -€31,538
down €31,538 (-10.6%), from €296,716 to €265,179
- Taxes -€28,952
down €28,952 (-41.4%), from €69,848 to €40,896
- Depreciation +€12,825
up €12,825 (+7.6%), from €168,306 to €181,131
- Financial income -€3,744
down €3,744 (-9.0%), from €41,445 to €37,701
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.
Result 2024
€73,990
Gross operating margin
-€31,538
Depreciation
-€12,825
Other operating charges
+€2,957
Other operating items
-€224
Financial income
-€3,744
Financial charges
-€2,413
Taxes
+€28,952
Result 2025
€55,155
Cash bridge derived
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.
From operations
+€309,572
Investment
-€181,834
Financing
-€134,029
Cash 2024
€149,524
From operations (derived)
+€309,572
Net result for the year
+€55,155
Depreciation
+€181,131
Receivables within one year
-€35,120
Deferred charges and accrued income
-€2,046
Provisions
-€1,198
Trade debts
+€13,043
Tax, wage and social debts
-€16,363
Other debts
+€114,971
Investment (derived)
-€181,834
Investment in fixed assets (net)
-€4,068
Current investments
-€177,766
Financing
-€134,029
Contributions, distributions and other
-€134,029
Cash 2025
€143,234
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,756,127 | €3,787,706 | +€31,579 | +0.8% |
| Fixed assets | 21/28 | €2,427,641 | €2,250,579 | -€177,063 | -7.3% |
| Tangible fixed assets | 22/27 | €2,396,841 | €2,219,779 | -€177,063 | -7.4% |
| Land and buildings | 22 | €1,949,939 | €1,841,652 | -€108,286 | -5.6% |
| Plant, machinery and equipment | 23 | €296,826 | €266,986 | -€29,840 | -10.1% |
| Furniture and vehicles | 24 | €150,077 | €111,140 | -€38,937 | -25.9% |
| Financial fixed assets | 28 | €30,800 | €30,800 | = | 0.0% |
| Current assets | 29/58 | €1,328,485 | €1,537,127 | +€208,642 | +15.7% |
| Amounts receivable within one year | 40/41 | €151,055 | €186,175 | +€35,120 | +23.2% |
| Trade receivables | 40 | €57,267 | €57,174 | -€92 | -0.2% |
| Other amounts receivable | 41 | €93,788 | €129,000 | +€35,212 | +37.5% |
| Current investments | 50/53 | €1,018,886 | €1,196,652 | +€177,766 | +17.4% |
| Cash at bank and in hand | 54/58 | €149,524 | €143,234 | -€6,290 | -4.2% |
| Deferred charges and accrued income | 490/1 | €9,020 | €11,066 | +€2,046 | +22.7% |
| Total equity and liabilities | 10/49 | €3,756,127 | €3,787,706 | +€31,579 | +0.8% |
| Equity | 10/15 | €3,691,990 | €3,613,116 | -€78,874 | -2.1% |
| Contributions | 10/11 | €2,095,000 | €2,095,000 | = | 0.0% |
| Reserves | 13 | €1,592,605 | €1,513,730 | -€78,874 | -5.0% |
| Tax-exempt reserves | 132 | €19,168 | €14,376 | -€4,792 | -25.0% |
| Distributable reserves | 133 | €1,573,437 | €1,499,355 | -€74,082 | -4.7% |
| Profit (loss) carried forward | 14 | €4,385 | €4,385 | = | 0.0% |
| Provisions and deferred taxes | 16 | €4,792 | €3,594 | -€1,198 | -25.0% |
| Deferred taxes | 168 | €4,792 | €3,594 | -€1,198 | -25.0% |
| Amounts payable | 17/49 | €59,344 | €170,996 | +€111,651 | +188.1% |
| Amounts payable after more than one year | 17 | €2,400 | €2,400 | = | 0.0% |
| Other amounts payable | 178/9 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €56,944 | €168,596 | +€111,651 | +196.1% |
| Trade debts | 44 | €9,052 | €22,095 | +€13,043 | +144.1% |
| Suppliers | 440/4 | €9,052 | €22,095 | +€13,043 | +144.1% |
| Taxes, remuneration and social security | 45 | €28,843 | €12,480 | -€16,363 | -56.7% |
| Taxes | 450/3 | €26,610 | €10,546 | -€16,064 | -60.4% |
| Remuneration and social security | 454/9 | €2,233 | €1,934 | -€299 | -13.4% |
| Other amounts payable | 47/48 | €19,049 | €134,020 | +€114,971 | +603.5% |
| Non-recurring operating income | 76A | €1,268 | - | -€1,268 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €168,306 | €181,131 | +€12,825 | +7.6% |
| Other operating charges | 640/8 | €18,454 | €15,497 | -€2,957 | -16.0% |
| Non-recurring operating charges | 66A | €79 | €303 | +€224 | +284.8% |
| Gross operating margin | 9900 | €296,716 | €265,179 | -€31,538 | -10.6% |
| Operating profit (loss) | 9901 | €109,877 | €68,248 | -€41,629 | -37.9% |
| Financial income | 75/76B | €41,445 | €37,701 | -€3,744 | -9.0% |
| Recurring financial income | 75 | €41,445 | €37,701 | -€3,744 | -9.0% |
| Financial charges | 65/66B | €8,683 | €11,096 | +€2,413 | +27.8% |
| Recurring financial charges | 65 | €8,683 | €11,096 | +€2,413 | +27.8% |
| Profit (loss) for the period before taxes | 9903 | €142,639 | €94,853 | -€47,787 | -33.5% |
| Transfer from deferred taxes | 780 | €1,198 | €1,198 | = | 0.0% |
| Income taxes | 67/77 | €69,848 | €40,896 | -€28,952 | -41.4% |
| Profit (loss) for the period | 9904 | €73,990 | €55,155 | -€18,835 | -25.5% |
| Transfer from tax-exempt reserves | 789 | €4,792 | €4,792 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,782 | €59,947 | -€18,835 | -23.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.