D & E INVEST: what changed
Two fiscal 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.
D & E INVEST
Largest movements
- Intangible fixed assets -€17,279
down €17,279 (-5.2%), from €334,061 to €316,782
- Reserves -€24,160
down €24,160 (-1.8%), from €1.4m to €1.4m
of which Distributable reserves: -€24,160
- Gross operating margin -€23,386
down €23,386, from €17,077 to -€6,309
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.
Cash bridge derived
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 | €1,436,715 | €1,412,601 | -€24,114 | -1.7% |
| Fixed assets | 21/28 | €846,154 | €828,875 | -€17,279 | -2.0% |
| Intangible fixed assets | 21 | €334,061 | €316,782 | -€17,279 | -5.2% |
| Tangible fixed assets | 22/27 | €343,074 | €343,074 | = | 0.0% |
| Land and buildings | 22 | €343,074 | €343,074 | = | 0.0% |
| Financial fixed assets | 28 | €169,020 | €169,020 | = | 0.0% |
| Current assets | 29/58 | €590,561 | €583,726 | -€6,835 | -1.2% |
| Amounts receivable after more than one year | 29 | €84,756 | €84,756 | = | 0.0% |
| Other amounts receivable | 291 | €84,756 | €84,756 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,916 | €16 | -€1,900 | -99.2% |
| Other amounts receivable | 41 | €1,916 | €16 | -€1,900 | -99.2% |
| Current investments | 50/53 | €409,997 | €409,997 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €93,892 | €88,114 | -€5,778 | -6.2% |
| Deferred charges and accrued income | 490/1 | - | €843 | +€843 | |
| Total equity and liabilities | 10/49 | €1,436,715 | €1,412,601 | -€24,114 | -1.7% |
| Equity | 10/15 | €1,436,715 | €1,412,555 | -€24,160 | -1.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,374,715 | €1,350,555 | -€24,160 | -1.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,368,515 | €1,344,355 | -€24,160 | -1.8% |
| Amounts payable | 17/49 | €0 | €46 | +€46 | |
| Amounts payable within one year | 42/48 | €0 | €46 | +€46 | |
| Trade debts | 44 | - | €46 | +€46 | |
| Suppliers | 440/4 | - | €46 | +€46 | |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €27,108 | €0 | -€27,108 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,279 | €17,279 | = | 0.0% |
| Other operating charges | 640/8 | €1,108 | €1,160 | +€52 | +4.6% |
| Gross operating margin | 9900 | €17,077 | -€6,309 | -€23,386 | |
| Operating profit (loss) | 9901 | -€1,310 | -€24,748 | -€23,438 | -1789.1% |
| Financial income | 75/76B | €985 | €843 | -€142 | -14.4% |
| Recurring financial income | 75 | €985 | €843 | -€142 | -14.4% |
| Financial charges | 65/66B | €323 | €255 | -€67 | -20.8% |
| Recurring financial charges | 65 | €323 | €255 | -€67 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | -€648 | -€24,160 | -€23,512 | -3628.2% |
| Income taxes | 67/77 | €0 | €0 | +€0 | |
| Profit (loss) for the period | 9904 | -€648 | -€24,160 | -€23,512 | -3628.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€648 | -€24,160 | -€23,512 | -3628.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.