BUSINVEST: 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.
BUSINVEST
Largest movements
- Current investments +€14.3m
up €14.3m (+12035.2%), from €118,657 to €14.4m
- Cash -€14.0m
down €14.0m (-89.6%), from €15.7m to €1.6m
mainly Current investments (-€14.3m) and Debts after one year (-€270,238)
- Profit (loss) carried forward +€864,265
up €864,265 (+4.4%), from €19.5m to €20.4m
- Reserves -€421,000
down €421,000 (-50.0%), from €842,000 to €421,000
- Debts after one year -€270,238
down €270,238 (-48.7%), from €554,970 to €284,732
- Financial income -€2.0m
down €2.0m (-67.0%), from €3.0m to €976,047
of which Non-recurring financial income: -€2.5m
- Gross operating margin +€256,421
up €256,421, from -€186,990 to €69,431
- Other operating charges -€194,989
down €194,989 (-84.0%), from €232,130 to €37,142
- Depreciation +€53,459
up €53,459 (+23.4%), from €228,150 to €281,609
- Taxes +€26,405
up €26,405 (+10.7%), from €247,352 to €273,758
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €21,402,284 | €21,462,153 | +€59,868 | +0.3% |
| Fixed assets | 21/28 | €4,003,783 | €3,921,929 | -€81,854 | -2.0% |
| Tangible fixed assets | 22/27 | €4,003,783 | €3,920,929 | -€82,854 | -2.1% |
| Land and buildings | 22 | €87,512 | €87,512 | = | 0.0% |
| Furniture and vehicles | 24 | €17,836 | €15,051 | -€2,785 | -15.6% |
| Other tangible fixed assets | 26 | €3,898,435 | €3,818,366 | -€80,069 | -2.1% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €17,398,501 | €17,540,223 | +€141,722 | +0.8% |
| Amounts receivable within one year | 40/41 | €1,609,409 | €1,515,828 | -€93,581 | -5.8% |
| Trade receivables | 40 | €10,588 | €23,844 | +€13,257 | +125.2% |
| Other amounts receivable | 41 | €1,598,821 | €1,491,984 | -€106,837 | -6.7% |
| Current investments | 50/53 | €118,657 | €14,399,213 | +€14.3m | +12035.2% |
| Cash at bank and in hand | 54/58 | €15,670,436 | €1,623,963 | -€14.0m | -89.6% |
| Deferred charges and accrued income | 490/1 | - | €1,219 | +€1,219 | |
| Total equity and liabilities | 10/49 | €21,402,284 | €21,462,153 | +€59,868 | +0.3% |
| Equity | 10/15 | €20,417,601 | €20,860,866 | +€443,265 | +2.2% |
| Contributions | 10/11 | €88,979 | €88,979 | = | 0.0% |
| Reserves | 13 | €842,000 | €421,000 | -€421,000 | -50.0% |
| Tax-exempt reserves | 132 | €842,000 | €421,000 | -€421,000 | -50.0% |
| Profit (loss) carried forward | 14 | €19,486,623 | €20,350,887 | +€864,265 | +4.4% |
| Provisions and deferred taxes | 16 | €46,812 | €30,000 | -€16,812 | -35.9% |
| Provisions for liabilities and charges | 160/5 | €46,812 | €30,000 | -€16,812 | -35.9% |
| Other liabilities and charges | 164/5 | €46,812 | €30,000 | -€16,812 | -35.9% |
| Amounts payable | 17/49 | €937,871 | €571,287 | -€366,584 | -39.1% |
| Amounts payable after more than one year | 17 | €554,970 | €284,732 | -€270,238 | -48.7% |
| Financial debts | 170/4 | €554,970 | €284,732 | -€270,238 | -48.7% |
| Amounts payable within one year | 42/48 | €382,901 | €286,555 | -€96,346 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €268,611 | €270,238 | +€1,626 | +0.6% |
| Trade debts | 44 | €99,326 | €4,645 | -€94,681 | -95.3% |
| Suppliers | 440/4 | €99,326 | €4,645 | -€94,681 | -95.3% |
| Taxes, remuneration and social security | 45 | €4,464 | €5,372 | +€908 | +20.3% |
| Taxes | 450/3 | €4,464 | €5,372 | +€908 | +20.3% |
| Other amounts payable | 47/48 | €10,500 | €6,300 | -€4,200 | -40.0% |
| Non-recurring operating income | 76A | - | €372 | +€372 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €228,150 | €281,609 | +€53,459 | +23.4% |
| Other operating charges | 640/8 | €232,130 | €37,142 | -€194,989 | -84.0% |
| Non-recurring operating charges | 66A | - | €1,923 | +€1,923 | |
| Gross operating margin | 9900 | -€186,990 | €69,431 | +€256,421 | |
| Operating profit (loss) | 9901 | -€647,271 | -€251,243 | +€396,028 | +61.2% |
| Financial income | 75/76B | €2,957,376 | €976,047 | -€2.0m | -67.0% |
| Recurring financial income | 75 | €431,475 | €959,235 | +€527,759 | +122.3% |
| Non-recurring financial income | 76B | €2,525,900 | €16,812 | -€2.5m | -99.3% |
| Financial charges | 65/66B | €13,925 | €7,782 | -€6,143 | -44.1% |
| Recurring financial charges | 65 | €13,925 | €7,782 | -€6,143 | -44.1% |
| Profit (loss) for the period before taxes | 9903 | €2,296,180 | €717,022 | -€1.6m | -68.8% |
| Income taxes | 67/77 | €247,352 | €273,758 | +€26,405 | +10.7% |
| Profit (loss) for the period | 9904 | €2,048,828 | €443,265 | -€1.6m | -78.4% |
| Transfer from tax-exempt reserves | 789 | - | €421,000 | +€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,048,828 | €864,265 | -€1.2m | -57.8% |
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 4 October 2026 via checked.be.