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 +€450,436
up €450,436 (+424%), from €106,244 to €556,680
mainly Net result for the year (+€362,776) and Depreciation (+€170,855)
- Receivables within one year -€95,457
down €95,457 (-9.5%), from €1.0m to €910,034
of which Trade receivables: -€124,630
- Tangible fixed assets -€94,204
down €94,204 (-2.1%), from €4.4m to €4.4m
of which Land and buildings: -€106,019
- Reserves +€362,776
up €362,776 (+6.7%), from €5.4m to €5.8m
of which Distributable reserves: +€362,776
- Gross operating margin +€76,162
up €76,162 (+20.9%), from €364,343 to €440,504
- Other operating charges +€26,078
up €26,078 (+185%), from €14,108 to €40,186
- Depreciation +€10,150
up €10,150 (+6.3%), from €160,705 to €170,855
- Taxes +€6,522
up €6,522 (+14.6%), from €44,579 to €51,101
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 | €7,505,217 | €7,769,260 | +€264,042 | +3.5% |
| Fixed assets | 21/28 | €6,393,483 | €6,299,279 | -€94,204 | -1.5% |
| Tangible fixed assets | 22/27 | €4,449,957 | €4,355,753 | -€94,204 | -2.1% |
| Land and buildings | 22 | €4,446,412 | €4,340,393 | -€106,019 | -2.4% |
| Plant, machinery and equipment | 23 | - | €12,295 | +€12,295 | |
| Furniture and vehicles | 24 | €3,545 | €3,065 | -€480 | -13.5% |
| Financial fixed assets | 28 | €1,943,526 | €1,943,526 | = | 0.0% |
| Current assets | 29/58 | €1,111,735 | €1,469,981 | +€358,246 | +32.2% |
| Amounts receivable within one year | 40/41 | €1,005,491 | €910,034 | -€95,457 | -9.5% |
| Trade receivables | 40 | €690,765 | €566,135 | -€124,630 | -18.0% |
| Other amounts receivable | 41 | €314,726 | €343,899 | +€29,173 | +9.3% |
| Cash at bank and in hand | 54/58 | €106,244 | €556,680 | +€450,436 | +424% |
| Deferred charges and accrued income | 490/1 | €0 | €3,267 | +€3,267 | |
| Total equity and liabilities | 10/49 | €7,505,217 | €7,769,260 | +€264,042 | +3.5% |
| Equity | 10/15 | €6,183,586 | €6,546,362 | +€362,776 | +5.9% |
| Contributions | 10/11 | €764,649 | €764,649 | = | 0.0% |
| Capital | 10 | €764,649 | €764,649 | = | 0.0% |
| Issued capital | 100 | €764,649 | €764,649 | = | 0.0% |
| Reserves | 13 | €5,418,937 | €5,781,713 | +€362,776 | +6.7% |
| Non-distributable reserves | 130/1 | €173,665 | €173,665 | = | 0.0% |
| Legal reserve | 130 | €173,665 | €173,665 | = | 0.0% |
| Distributable reserves | 133 | €5,245,272 | €5,608,048 | +€362,776 | +6.9% |
| Amounts payable | 17/49 | €1,321,632 | €1,222,898 | -€98,734 | -7.5% |
| Amounts payable after more than one year | 17 | €1,124,976 | €1,048,436 | -€76,540 | -6.8% |
| Financial debts | 170/4 | €1,124,976 | €1,048,436 | -€76,540 | -6.8% |
| Amounts payable within one year | 42/48 | €196,656 | €174,462 | -€22,194 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €75,024 | €76,540 | +€1,516 | +2.0% |
| Trade debts | 44 | €10,379 | €44,875 | +€34,495 | +332% |
| Suppliers | 440/4 | €10,379 | €44,875 | +€34,495 | +332% |
| Taxes, remuneration and social security | 45 | €105,470 | €52,364 | -€53,106 | -50.4% |
| Taxes | 450/3 | €105,470 | €52,364 | -€53,106 | -50.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,783 | €683 | -€5,100 | -88.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €160,705 | €170,855 | +€10,150 | +6.3% |
| Other operating charges | 640/8 | €14,108 | €40,186 | +€26,078 | +185% |
| Gross operating margin | 9900 | €364,343 | €440,504 | +€76,162 | +20.9% |
| Operating profit (loss) | 9901 | €189,529 | €229,463 | +€39,933 | +21.1% |
| Financial income | 75/76B | €210,000 | €210,453 | +€453 | +0.2% |
| Recurring financial income | 75 | €210,000 | €210,453 | +€453 | +0.2% |
| Financial charges | 65/66B | €25,640 | €26,039 | +€399 | +1.6% |
| Recurring financial charges | 65 | €25,640 | €26,039 | +€399 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €373,889 | €413,877 | +€39,988 | +10.7% |
| Income taxes | 67/77 | €44,579 | €51,101 | +€6,522 | +14.6% |
| Profit (loss) for the period | 9904 | €329,310 | €362,776 | +€33,466 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €329,310 | €362,776 | +€33,466 | +10.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.