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.
D-INVEST
Largest movements
- Receivables within one year +€88,639
up €88,639 (+32.7%), from €271,361 to €360,000
of which Other amounts receivable: +€185,439
- Tangible fixed assets -€56,158
down €56,158 (-3.1%), from €1.8m to €1.8m
of which Land and buildings: -€33,424
- Cash +€28,444
up €28,444 (+52.4%), from €54,255 to €82,700
mainly Net result for the year (+€114,037) and Depreciation (+€56,158)
- Reserves +€77,409
up €77,409 (+51.6%), from €149,916 to €227,325
- Other debts -€43,193
down €43,193 (-30.8%), from €140,363 to €97,170
- Profit (loss) carried forward +€36,628
up €36,628 (+47.3%), from €77,409 to €114,037
- Gross operating margin +€43,374
up €43,374 (+24.2%), from €179,435 to €222,810
- Taxes +€11,772
up €11,772 (+44.4%), from €26,504 to €38,276
- Other operating charges -€4,821
down €4,821 (-25.3%), from €19,077 to €14,256
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 | €2,140,249 | €2,201,463 | +€61,214 | +2.9% |
| Fixed assets | 21/28 | €1,813,682 | €1,757,524 | -€56,158 | -3.1% |
| Tangible fixed assets | 22/27 | €1,813,682 | €1,757,524 | -€56,158 | -3.1% |
| Land and buildings | 22 | €1,729,969 | €1,696,545 | -€33,424 | -1.9% |
| Furniture and vehicles | 24 | €83,714 | €60,979 | -€22,735 | -27.2% |
| Current assets | 29/58 | €326,567 | €443,939 | +€117,372 | +35.9% |
| Amounts receivable within one year | 40/41 | €271,361 | €360,000 | +€88,639 | +32.7% |
| Trade receivables | 40 | €96,800 | - | -€96,800 | |
| Other amounts receivable | 41 | €174,561 | €360,000 | +€185,439 | +106% |
| Cash at bank and in hand | 54/58 | €54,255 | €82,700 | +€28,444 | +52.4% |
| Deferred charges and accrued income | 490/1 | €950 | €1,239 | +€289 | +30.4% |
| Total equity and liabilities | 10/49 | €2,140,249 | €2,201,463 | +€61,214 | +2.9% |
| Equity | 10/15 | €1,945,014 | €2,059,051 | +€114,037 | +5.9% |
| Contributions | 10/11 | €1,018,741 | €1,018,741 | = | 0.0% |
| Revaluation surpluses | 12 | €698,949 | €698,949 | = | 0.0% |
| Reserves | 13 | €149,916 | €227,325 | +€77,409 | +51.6% |
| Distributable reserves | 133 | €149,916 | €227,325 | +€77,409 | +51.6% |
| Profit (loss) carried forward | 14 | €77,409 | €114,037 | +€36,628 | +47.3% |
| Amounts payable | 17/49 | €195,235 | €142,412 | -€52,823 | -27.1% |
| Amounts payable within one year | 42/48 | €192,906 | €139,997 | -€52,909 | -27.4% |
| Trade debts | 44 | €16,223 | €1,077 | -€15,146 | -93.4% |
| Suppliers | 440/4 | €16,223 | €1,077 | -€15,146 | -93.4% |
| Taxes, remuneration and social security | 45 | €36,319 | €41,749 | +€5,430 | +15.0% |
| Taxes | 450/3 | €36,319 | €41,749 | +€5,430 | +15.0% |
| Other amounts payable | 47/48 | €140,363 | €97,170 | -€43,193 | -30.8% |
| Accrued charges and deferred income | 492/3 | €2,329 | €2,415 | +€86 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,356 | €56,158 | -€198 | -0.4% |
| Other operating charges | 640/8 | €19,077 | €14,256 | -€4,821 | -25.3% |
| Gross operating margin | 9900 | €179,435 | €222,810 | +€43,374 | +24.2% |
| Operating profit (loss) | 9901 | €104,002 | €152,396 | +€48,394 | +46.5% |
| Financial income | 75/76B | €5 | €4 | -€1 | -17.3% |
| Recurring financial income | 75 | €5 | €4 | -€1 | -17.3% |
| Financial charges | 65/66B | €94 | €87 | -€7 | -7.7% |
| Recurring financial charges | 65 | €94 | €87 | -€7 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €103,913 | €152,313 | +€48,400 | +46.6% |
| Income taxes | 67/77 | €26,504 | €38,276 | +€11,772 | +44.4% |
| Profit (loss) for the period | 9904 | €77,409 | €114,037 | +€36,628 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €77,409 | €114,037 | +€36,628 | +47.3% |
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.