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 +€70,728
up €70,728 (+636%), from €11,119 to €81,846
mainly Receivables within one year (+€58,953) and Depreciation (+€47,432)
- Receivables within one year -€58,953
down €58,953 (-56.6%), from €104,219 to €45,266
of which Trade receivables: -€76,434
- Current investments -€42,000
no longer reported in 2025 (was €42,000)
- Tangible fixed assets +€7,165
up €7,165 (+2.1%), from €343,707 to €350,872
of which Furniture and vehicles: +€10,535
- Tax, wage and social debts -€18,050
down €18,050 (-63.9%), from €28,259 to €10,209
- Other debts -€7,380
down €7,380 (-88.3%), from €8,355 to €975
- Trade debts +€5,891
up €5,891 (+53.2%), from €11,069 to €16,960
- Gross operating margin -€94,317
down €94,317 (-64.6%), from €145,951 to €51,634
- Taxes -€13,685
down €13,685 (-70.0%), from €19,561 to €5,875
- Depreciation +€2,325
up €2,325 (+5.2%), from €45,107 to €47,432
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 | €501,706 | €478,406 | -€23,301 | -4.6% |
| Fixed assets | 21/28 | €343,707 | €350,872 | +€7,165 | +2.1% |
| Tangible fixed assets | 22/27 | €343,707 | €350,872 | +€7,165 | +2.1% |
| Land and buildings | 22 | €166,730 | €166,327 | -€403 | -0.2% |
| Plant, machinery and equipment | 23 | €20,967 | €20,794 | -€172 | -0.8% |
| Furniture and vehicles | 24 | €138,458 | €148,993 | +€10,535 | +7.6% |
| Other tangible fixed assets | 26 | €17,552 | €14,758 | -€2,795 | -15.9% |
| Current assets | 29/58 | €158,000 | €127,534 | -€30,466 | -19.3% |
| Amounts receivable within one year | 40/41 | €104,219 | €45,266 | -€58,953 | -56.6% |
| Trade receivables | 40 | €104,216 | €27,782 | -€76,434 | -73.3% |
| Other amounts receivable | 41 | €4 | €17,485 | +€17,481 | +485,583% |
| Current investments | 50/53 | €42,000 | - | -€42,000 | |
| Cash at bank and in hand | 54/58 | €11,119 | €81,846 | +€70,728 | +636% |
| Deferred charges and accrued income | 490/1 | €662 | €421 | -€241 | -36.4% |
| Total equity and liabilities | 10/49 | €501,706 | €478,406 | -€23,301 | -4.6% |
| Equity | 10/15 | €443,551 | €443,266 | -€286 | -0.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Revaluation surpluses | 12 | €79,400 | €79,400 | = | 0.0% |
| Reserves | 13 | €64,151 | €63,866 | -€286 | -0.4% |
| Tax-exempt reserves | 132 | €26,119 | €19,589 | -€6,530 | -25.0% |
| Distributable reserves | 133 | €38,033 | €44,277 | +€6,244 | +16.4% |
| Provisions and deferred taxes | 16 | €8,706 | €6,530 | -€2,177 | -25.0% |
| Deferred taxes | 168 | €8,706 | €6,530 | -€2,177 | -25.0% |
| Amounts payable | 17/49 | €49,449 | €28,610 | -€20,838 | -42.1% |
| Amounts payable within one year | 42/48 | €49,383 | €28,144 | -€21,239 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €1,699 | - | -€1,699 | |
| Trade debts | 44 | €11,069 | €16,960 | +€5,891 | +53.2% |
| Suppliers | 440/4 | €11,069 | €16,960 | +€5,891 | +53.2% |
| Taxes, remuneration and social security | 45 | €28,259 | €10,209 | -€18,050 | -63.9% |
| Taxes | 450/3 | €28,259 | €10,209 | -€18,050 | -63.9% |
| Other amounts payable | 47/48 | €8,355 | €975 | -€7,380 | -88.3% |
| Accrued charges and deferred income | 492/3 | €66 | €467 | +€401 | +608% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,107 | €47,432 | +€2,325 | +5.2% |
| Other operating charges | 640/8 | €1,478 | €1,300 | -€178 | -12.1% |
| Gross operating margin | 9900 | €145,951 | €51,634 | -€94,317 | -64.6% |
| Operating profit (loss) | 9901 | €99,365 | €2,902 | -€96,464 | -97.1% |
| Financial income | 75/76B | €1,521 | €717 | -€804 | -52.8% |
| Recurring financial income | 75 | €1,521 | €717 | -€804 | -52.8% |
| Financial charges | 65/66B | €229 | €206 | -€23 | -10.2% |
| Recurring financial charges | 65 | €229 | €206 | -€23 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €100,657 | €3,413 | -€97,244 | -96.6% |
| Transfer from deferred taxes | 780 | €2,177 | €2,177 | = | 0.0% |
| Transfer to deferred taxes | 680 | €10,883 | - | -€10,883 | |
| Income taxes | 67/77 | €19,561 | €5,875 | -€13,685 | -70.0% |
| Profit (loss) for the period | 9904 | €72,390 | -€286 | -€72,676 | |
| Transfer from tax-exempt reserves | 789 | €6,530 | €6,530 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €32,648 | - | -€32,648 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,272 | €6,244 | -€40,028 | -86.5% |
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 23 October 2026 via checked.be.