C-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.
C-INVEST
Largest movements
- Cash +€150,184
up €150,184 (+103%), from €146,213 to €296,397
mainly Net result for the year (+€71,346) and Investment in fixed assets (net) (+€71,040)
- Tangible fixed assets -€105,820
down €105,820 (-9.6%), from €1.1m to €993,619
- Reserves +€55,401
up €55,401 (+667%), from €8,304 to €63,705
of which Tax-exempt reserves: +€55,401
- Debts after one year -€31,336
down €31,336 (-10.7%), from €293,732 to €262,397
- Provisions +€18,467
new in 2025: €18,467
- Profit (loss) carried forward +€15,945
up €15,945 (+16.2%), from €98,244 to €114,189
- Other debts -€13,128
down €13,128 (-21.8%), from €60,231 to €47,102
- Gross operating margin +€103,489
up €103,489 (+191%), from €54,057 to €157,546
- Depreciation -€3,311
down €3,311 (-8.7%), from €38,092 to €34,780
- Other operating charges +€1,669
up €1,669 (+9.5%), from €17,552 to €19,221
- Financial charges +€1,659
up €1,659 (+14.7%), from €11,312 to €12,971
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 | €1,259,034 | €1,292,743 | +€33,708 | +2.7% |
| Fixed assets | 21/28 | €1,099,439 | €993,619 | -€105,820 | -9.6% |
| Tangible fixed assets | 22/27 | €1,099,439 | €993,619 | -€105,820 | -9.6% |
| Land and buildings | 22 | €1,099,439 | €993,619 | -€105,820 | -9.6% |
| Current assets | 29/58 | €159,595 | €299,124 | +€139,529 | +87.4% |
| Amounts receivable within one year | 40/41 | €9,140 | - | -€9,140 | |
| Other amounts receivable | 41 | €9,140 | - | -€9,140 | |
| Cash at bank and in hand | 54/58 | €146,213 | €296,397 | +€150,184 | +103% |
| Deferred charges and accrued income | 490/1 | €4,242 | €2,727 | -€1,516 | -35.7% |
| Total equity and liabilities | 10/49 | €1,259,034 | €1,292,743 | +€33,708 | +2.7% |
| Equity | 10/15 | €852,734 | €924,079 | +€71,346 | +8.4% |
| Contributions | 10/11 | €746,186 | €746,186 | = | 0.0% |
| Capital | 10 | €746,186 | €746,186 | = | 0.0% |
| Issued capital | 100 | €746,186 | €746,186 | = | 0.0% |
| Reserves | 13 | €8,304 | €63,705 | +€55,401 | +667% |
| Non-distributable reserves | 130/1 | €8,304 | €8,304 | = | 0.0% |
| Legal reserve | 130 | €8,304 | €8,304 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €55,401 | +€55,401 | |
| Profit (loss) carried forward | 14 | €98,244 | €114,189 | +€15,945 | +16.2% |
| Provisions and deferred taxes | 16 | - | €18,467 | +€18,467 | |
| Deferred taxes | 168 | - | €18,467 | +€18,467 | |
| Amounts payable | 17/49 | €406,301 | €350,196 | -€56,104 | -13.8% |
| Amounts payable after more than one year | 17 | €293,732 | €262,397 | -€31,336 | -10.7% |
| Financial debts | 170/4 | €293,732 | €262,397 | -€31,336 | -10.7% |
| Amounts payable within one year | 42/48 | €108,619 | €87,800 | -€20,819 | -19.2% |
| Current portion of amounts payable after more than one year | 42 | €30,096 | €31,336 | +€1,240 | +4.1% |
| Trade debts | 44 | €18,292 | €8,601 | -€9,691 | -53.0% |
| Suppliers | 440/4 | €18,292 | €8,601 | -€9,691 | -53.0% |
| Taxes, remuneration and social security | 45 | - | €761 | +€761 | |
| Taxes | 450/3 | - | €761 | +€761 | |
| Other amounts payable | 47/48 | €60,231 | €47,102 | -€13,128 | -21.8% |
| Accrued charges and deferred income | 492/3 | €3,950 | - | -€3,950 | |
| Non-recurring operating income | 76A | - | €73,868 | +€73,868 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,092 | €34,780 | -€3,311 | -8.7% |
| Other operating charges | 640/8 | €17,552 | €19,221 | +€1,669 | +9.5% |
| Gross operating margin | 9900 | €54,057 | €157,546 | +€103,489 | +191% |
| Operating profit (loss) | 9901 | -€1,587 | €103,545 | +€105,131 | |
| Financial charges | 65/66B | €11,312 | €12,971 | +€1,659 | +14.7% |
| Recurring financial charges | 65 | €11,312 | €12,971 | +€1,659 | +14.7% |
| Profit (loss) for the period before taxes | 9903 | -€12,899 | €90,574 | +€103,473 | |
| Transfer to deferred taxes | 680 | - | €18,467 | +€18,467 | |
| Income taxes | 67/77 | €685 | €761 | +€76 | +11.1% |
| Profit (loss) for the period | 9904 | -€13,584 | €71,346 | +€84,930 | |
| Transfer to tax-exempt reserves | 689 | - | €55,401 | +€55,401 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,584 | €15,945 | +€29,529 |
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 31 October 2026 via checked.be.