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
- Tangible fixed assets +€467,971
up €467,971 (+106%), from €439,475 to €907,446
of which Land and buildings: +€478,254
- Cash -€19,891
down €19,891 (-83.7%), from €23,777 to €3,886
mainly Investment in fixed assets (net) (-€504,485) and Deferred charges and accrued income (-€2,679)
- Other debts +€196,103
up €196,103 (+339%), from €57,825 to €253,927
- Debts after one year +€183,139
up €183,139 (+76.1%), from €240,552 to €423,691
- Reserves +€40,969
up €40,969 (+39.5%), from €103,595 to €144,564
- Current portion of long-term debt +€20,131
up €20,131 (+47.5%), from €42,370 to €62,501
- Gross operating margin +€81,132
up €81,132 (+65.6%), from €123,728 to €204,861
- Staff costs +€77,236
up €77,236 (+658%), from €11,739 to €88,975
- Depreciation +€23,088
up €23,088 (+172%), from €13,425 to €36,514
- Other operating charges +€8,676
up €8,676 (+336%), from €2,585 to €11,261
- Financial charges +€7,933
up €7,933 (+156%), from €5,087 to €13,020
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 | €507,358 | €951,927 | +€444,569 | +87.6% |
| Fixed assets | 21/28 | €439,475 | €907,446 | +€467,971 | +106% |
| Tangible fixed assets | 22/27 | €439,475 | €907,446 | +€467,971 | +106% |
| Land and buildings | 22 | €391,328 | €869,582 | +€478,254 | +122% |
| Furniture and vehicles | 24 | €48,147 | €37,864 | -€10,282 | -21.4% |
| Current assets | 29/58 | €67,884 | €44,481 | -€23,402 | -34.5% |
| Amounts receivable within one year | 40/41 | €42,662 | €36,471 | -€6,191 | -14.5% |
| Trade receivables | 40 | €34,031 | €28,889 | -€5,143 | -15.1% |
| Other amounts receivable | 41 | €8,631 | €7,583 | -€1,048 | -12.1% |
| Cash at bank and in hand | 54/58 | €23,777 | €3,886 | -€19,891 | -83.7% |
| Deferred charges and accrued income | 490/1 | €1,444 | €4,124 | +€2,679 | +186% |
| Total equity and liabilities | 10/49 | €507,358 | €951,927 | +€444,569 | +87.6% |
| Equity | 10/15 | €136,095 | €177,064 | +€40,969 | +30.1% |
| Contributions | 10/11 | €32,500 | €32,500 | = | 0.0% |
| Reserves | 13 | €103,595 | €144,564 | +€40,969 | +39.5% |
| Distributable reserves | 133 | €103,595 | €144,564 | +€40,969 | +39.5% |
| Amounts payable | 17/49 | €371,264 | €774,864 | +€403,600 | +109% |
| Amounts payable after more than one year | 17 | €240,552 | €423,691 | +€183,139 | +76.1% |
| Financial debts | 170/4 | €240,552 | €423,691 | +€183,139 | +76.1% |
| Amounts payable within one year | 42/48 | €130,712 | €351,173 | +€220,461 | +169% |
| Current portion of amounts payable after more than one year | 42 | €42,370 | €62,501 | +€20,131 | +47.5% |
| Financial debts | 43 | - | €2,222 | +€2,222 | |
| Credit institutions | 430/8 | - | €2,222 | +€2,222 | |
| Trade debts | 44 | €5,515 | €8,381 | +€2,866 | +52.0% |
| Suppliers | 440/4 | €5,515 | €8,381 | +€2,866 | +52.0% |
| Taxes, remuneration and social security | 45 | €25,003 | €24,142 | -€861 | -3.4% |
| Taxes | 450/3 | €23,654 | €13,896 | -€9,759 | -41.3% |
| Remuneration and social security | 454/9 | €1,348 | €10,246 | +€8,898 | +660% |
| Other amounts payable | 47/48 | €57,825 | €253,927 | +€196,103 | +339% |
| Remuneration, social security and pensions | 62 | €11,739 | €88,975 | +€77,236 | +658% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,425 | €36,514 | +€23,088 | +172% |
| Other operating charges | 640/8 | €2,585 | €11,261 | +€8,676 | +336% |
| Gross operating margin | 9900 | €123,728 | €204,861 | +€81,132 | +65.6% |
| Operating profit (loss) | 9901 | €95,979 | €68,111 | -€27,868 | -29.0% |
| Financial charges | 65/66B | €5,087 | €13,020 | +€7,933 | +156% |
| Recurring financial charges | 65 | €5,087 | €13,020 | +€7,933 | +156% |
| Profit (loss) for the period before taxes | 9903 | €90,892 | €55,091 | -€35,801 | -39.4% |
| Income taxes | 67/77 | €21,926 | €14,122 | -€7,805 | -35.6% |
| Profit (loss) for the period | 9904 | €68,966 | €40,969 | -€27,997 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €68,966 | €40,969 | -€27,997 | -40.6% |
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 27 October 2026 via checked.be.