D-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.
What changed
D-INVEST
NACE 68.321, Property management for co-owned buildings (syndics)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€273,146
2024 · €382,318-€109,172
Equity
€756,980
2024 · €483,834+€273,146
Cash
€23,046
2024 · €32,644-€9,598
Balance sheet total
€1.3m
2024 · €1.3m+€92,187
Largest movements
Assets
- Tangible fixed assets -€225,740
down €225,740 (-42.7%), from €528,467 to €302,727
of which Land and buildings: -€208,265
- Receivables within one year +€168,832
up €168,832 (+67.7%), from €249,389 to €418,221
of which Other amounts receivable: +€168,832
- Current investments +€139,902
up €139,902 (+54.2%), from €258,323 to €398,224
- Deferred charges and accrued income +€19,583
up €19,583 (+54.4%), from €35,984 to €55,567
Equity and liabilities
- Profit (loss) carried forward +€249,580
up €249,580, from -€249,580 to €0
- Debts after one year -€239,017
down €239,017 (-63.2%), from €378,349 to €139,332
- Short-term financial debts +€55,657
new in 2025: €55,657
- Tax, wage and social debts +€43,911
up €43,911 (+3,221%), from €1,363 to €45,275
- Provisions -€29,477
down €29,477 (-14.6%), from €201,597 to €172,119
Income statement
- Gross operating margin -€157,400
down €157,400 (-27.0%), from €583,656 to €426,256
- Taxes +€137,233
up €137,233 (+4,593%), from €2,988 to €140,221
- Depreciation -€23,885
down €23,885 (-40.9%), from €58,333 to €34,448
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.
Result 2024
€382,318
Gross operating margin
-€157,400
Depreciation
+€23,885
Other operating charges
-€955
Financial income
+€1,138
Financial charges
+€4,622
Taxes
-€137,233
Deferred taxes and other
+€156,771
Result 2025
€273,146
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€133,236
Investment
+€51,390
Financing
-€194,224
Cash 2024
€32,644
From operations (derived)
+€133,236
Net result for the year
+€273,146
Depreciation
+€34,448
Stocks and contracts
+€791
Receivables within one year
-€168,832
Deferred charges and accrued income
-€19,583
Provisions
-€29,477
Trade debts
-€170
Tax, wage and social debts
+€43,911
Other debts
-€1,000
Investment (derived)
+€51,390
Investment in fixed assets (net)
+€191,291
Current investments
-€139,902
Financing
-€194,224
Debts after one year
-€239,017
Current portion of long-term debt
-€10,864
Short-term financial debts
+€55,657
Cash 2025
€23,046
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,254,908 | €1,347,094 | +€92,187 | +7.3% |
| Fixed assets | 21/28 | €673,029 | €447,289 | -€225,740 | -33.5% |
| Intangible fixed assets | 21 | €39,262 | €39,262 | = | 0.0% |
| Tangible fixed assets | 22/27 | €528,467 | €302,727 | -€225,740 | -42.7% |
| Land and buildings | 22 | €478,729 | €270,464 | -€208,265 | -43.5% |
| Furniture and vehicles | 24 | €49,737 | €32,263 | -€17,475 | -35.1% |
| Financial fixed assets | 28 | €105,300 | €105,300 | = | 0.0% |
| Current assets | 29/58 | €581,879 | €899,805 | +€317,926 | +54.6% |
| Stocks and contracts in progress | 3 | €5,539 | €4,748 | -€791 | -14.3% |
| Stocks | 30/36 | €5,539 | €4,748 | -€791 | -14.3% |
| Amounts receivable within one year | 40/41 | €249,389 | €418,221 | +€168,832 | +67.7% |
| Trade receivables | 40 | €731 | €731 | = | 0.0% |
| Other amounts receivable | 41 | €248,658 | €417,490 | +€168,832 | +67.9% |
| Current investments | 50/53 | €258,323 | €398,224 | +€139,902 | +54.2% |
| Cash at bank and in hand | 54/58 | €32,644 | €23,046 | -€9,598 | -29.4% |
| Deferred charges and accrued income | 490/1 | €35,984 | €55,567 | +€19,583 | +54.4% |
| Total equity and liabilities | 10/49 | €1,254,908 | €1,347,094 | +€92,187 | +7.3% |
| Equity | 10/15 | €483,834 | €756,980 | +€273,146 | +56.5% |
| Contributions | 10/11 | €86,000 | €86,000 | = | 0.0% |
| Capital | 10 | €86,000 | €86,000 | = | 0.0% |
| Issued capital | 100 | €86,000 | €86,000 | = | 0.0% |
| Reserves | 13 | €647,414 | €670,980 | +€23,566 | +3.6% |
| Non-distributable reserves | 130/1 | €6,321 | €8,600 | +€2,279 | +36.0% |
| Legal reserve | 130 | €6,321 | €8,600 | +€2,279 | +36.0% |
| Tax-exempt reserves | 132 | €604,790 | €516,358 | -€88,432 | -14.6% |
| Distributable reserves | 133 | €36,302 | €146,022 | +€109,719 | +302% |
| Profit (loss) carried forward | 14 | -€249,580 | €0 | +€249,580 | |
| Provisions and deferred taxes | 16 | €201,597 | €172,119 | -€29,477 | -14.6% |
| Deferred taxes | 168 | €201,597 | €172,119 | -€29,477 | -14.6% |
| Amounts payable | 17/49 | €569,477 | €417,995 | -€151,482 | -26.6% |
| Amounts payable after more than one year | 17 | €378,349 | €139,332 | -€239,017 | -63.2% |
| Financial debts | 170/4 | €378,349 | €139,332 | -€239,017 | -63.2% |
| Amounts payable within one year | 42/48 | €190,428 | €277,963 | +€87,535 | +46.0% |
| Current portion of amounts payable after more than one year | 42 | €79,069 | €68,205 | -€10,864 | -13.7% |
| Financial debts | 43 | - | €55,657 | +€55,657 | |
| Credit institutions | 430/8 | - | €55,657 | +€55,657 | |
| Trade debts | 44 | €4,885 | €4,716 | -€170 | -3.5% |
| Suppliers | 440/4 | €4,885 | €4,716 | -€170 | -3.5% |
| Taxes, remuneration and social security | 45 | €1,363 | €45,275 | +€43,911 | +3,221% |
| Taxes | 450/3 | €1,363 | €45,275 | +€43,911 | +3,221% |
| Other amounts payable | 47/48 | €105,111 | €104,111 | -€1,000 | -1.0% |
| Accrued charges and deferred income | 492/3 | €700 | €700 | = | 0.0% |
| Non-recurring operating income | 76A | €555,743 | €379,410 | -€176,332 | -31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,333 | €34,448 | -€23,885 | -40.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €791 | €791 | = | 0.0% |
| Other operating charges | 640/8 | €4,746 | €5,701 | +€955 | +20.1% |
| Gross operating margin | 9900 | €583,656 | €426,256 | -€157,400 | -27.0% |
| Operating profit (loss) | 9901 | €519,786 | €385,316 | -€134,470 | -25.9% |
| Financial income | 75/76B | €12,535 | €13,673 | +€1,138 | +9.1% |
| Recurring financial income | 75 | €12,535 | €13,673 | +€1,138 | +9.1% |
| Financial charges | 65/66B | €19,722 | €15,100 | -€4,622 | -23.4% |
| Recurring financial charges | 65 | €19,722 | €15,100 | -€4,622 | -23.4% |
| Profit (loss) for the period before taxes | 9903 | €512,600 | €383,890 | -€128,710 | -25.1% |
| Transfer from deferred taxes | 780 | €7,892 | €29,477 | +€21,586 | +274% |
| Transfer to deferred taxes | 680 | €135,186 | €0 | -€135,186 | -100% |
| Income taxes | 67/77 | €2,988 | €140,221 | +€137,233 | +4,593% |
| Profit (loss) for the period | 9904 | €382,318 | €273,146 | -€109,172 | -28.6% |
| Transfer from tax-exempt reserves | 789 | €23,675 | €88,432 | +€64,757 | +274% |
| Transfer to tax-exempt reserves | 689 | €405,557 | €0 | -€405,557 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €436 | €361,578 | +€361,142 | +82,827% |
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 29 October 2026 via checked.be.