CN INVEST: what changed
CN INVEST
Largest movements
- Cash -€13,857
down €13,857 (-49.1%), from €28,197 to €14,339
mainly Current portion of long-term debt (-€41,171) and Contributions, distributions and other (-€27,500)
- Deferred charges and accrued income -€7,500
down €7,500 (-16.0%), from €46,750 to €39,250
- Tangible fixed assets -€3,413
down €3,413 (-1.5%), from €224,518 to €221,106
- Current portion of long-term debt -€41,171
down €41,171 (-91.5%), from €44,974 to €3,803
- Reserves +€32,177
up €32,177 (+24.4%), from €131,968 to €164,145
- Tax, wage and social debts -€11,908
down €11,908 (-52.9%), from €22,530 to €10,622
- Profit (loss) carried forward -€5,000
down €5,000 (-9.4%), from €53,131 to €48,131
- Other debts +€4,167
up €4,167 (+13.9%), from €29,887 to €34,054
- Gross operating margin +€11,053
up €11,053 (+13.9%), from €79,597 to €90,650
- Depreciation -€8,995
down €8,995 (-72.5%), from €12,408 to €3,413
- Taxes +€5,562
up €5,562 (+27.7%), from €20,060 to €25,622
- Financial charges -€1,194
down €1,194 (-55.9%), from €2,135 to €941
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €300,402 | €274,900 | -€25,502 | -8.5% |
| Fixed assets | 21/28 | €224,518 | €221,106 | -€3,413 | -1.5% |
| Tangible fixed assets | 22/27 | €224,518 | €221,106 | -€3,413 | -1.5% |
| Land and buildings | 22 | €224,518 | €221,106 | -€3,413 | -1.5% |
| Current assets | 29/58 | €75,884 | €53,795 | -€22,089 | -29.1% |
| Amounts receivable within one year | 40/41 | €937 | €206 | -€732 | -78.1% |
| Trade receivables | 40 | - | €206 | +€206 | |
| Other amounts receivable | 41 | €937 | - | -€937 | |
| Cash at bank and in hand | 54/58 | €28,197 | €14,339 | -€13,857 | -49.1% |
| Deferred charges and accrued income | 490/1 | €46,750 | €39,250 | -€7,500 | -16.0% |
| Total equity and liabilities | 10/49 | €300,402 | €274,900 | -€25,502 | -8.5% |
| Equity | 10/15 | €191,192 | €218,368 | +€27,177 | +14.2% |
| Contributions | 10/11 | €6,092 | €6,092 | = | 0.0% |
| Reserves | 13 | €131,968 | €164,145 | +€32,177 | +24.4% |
| Distributable reserves | 133 | €131,968 | €164,145 | +€32,177 | +24.4% |
| Profit (loss) carried forward | 14 | €53,131 | €48,131 | -€5,000 | -9.4% |
| Amounts payable | 17/49 | €109,210 | €56,532 | -€52,678 | -48.2% |
| Amounts payable after more than one year | 17 | €3,803 | - | -€3,803 | |
| Financial debts | 170/4 | €3,803 | - | -€3,803 | |
| Amounts payable within one year | 42/48 | €105,407 | €56,532 | -€48,876 | -46.4% |
| Current portion of amounts payable after more than one year | 42 | €44,974 | €3,803 | -€41,171 | -91.5% |
| Trade debts | 44 | €8,016 | €8,053 | +€36 | +0.5% |
| Suppliers | 440/4 | €8,016 | €8,053 | +€36 | +0.5% |
| Taxes, remuneration and social security | 45 | €22,530 | €10,622 | -€11,908 | -52.9% |
| Taxes | 450/3 | €22,530 | €10,622 | -€11,908 | -52.9% |
| Other amounts payable | 47/48 | €29,887 | €34,054 | +€4,167 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,408 | €3,413 | -€8,995 | -72.5% |
| Other operating charges | 640/8 | €5,816 | €5,997 | +€181 | +3.1% |
| Gross operating margin | 9900 | €79,597 | €90,650 | +€11,053 | +13.9% |
| Operating profit (loss) | 9901 | €61,373 | €81,240 | +€19,867 | +32.4% |
| Financial charges | 65/66B | €2,135 | €941 | -€1,194 | -55.9% |
| Recurring financial charges | 65 | €2,135 | €941 | -€1,194 | -55.9% |
| Profit (loss) for the period before taxes | 9903 | €59,238 | €80,299 | +€21,061 | +35.6% |
| Income taxes | 67/77 | €20,060 | €25,622 | +€5,562 | +27.7% |
| Profit (loss) for the period | 9904 | €39,178 | €54,677 | +€15,498 | +39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,178 | €54,677 | +€15,498 | +39.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.