DO 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
DO Invest
NACE 93.130, Fitness centres
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€386,567
2024 · -€1.9m+€1.5m
Equity
€68.1m
2024 · €29.0m+€39.1m
Cash
-
2024 · €1.9m-€1.9m
Balance sheet total
€79.4m
2024 · €33.7m+€45.6m
Largest movements
Assets
- Financial fixed assets +€45.2m
up €45.2m (+146%), from €30.9m to €76.0m
- Receivables within one year +€2.5m
up €2.5m (+629%), from €393,094 to €2.9m
of which Trade receivables: +€2.5m
- Cash -€1.9m
no longer reported in 2025 (was €1.9m)
mainly Investment in fixed assets (net) (-€45.2m) and Receivables within one year (-€2.5m)
Equity and liabilities
- Contributions +€33.4m
up €33.4m (+98.7%), from €33.9m to €67.3m
- Debts after one year +€6.5m
up €6.5m (+186%), from €3.5m to €10.0m
- Profit (loss) carried forward +€5.7m
up €5.7m (+93.6%), from -€6.1m to -€386,568
Income statement
- Other operating income +€4.1m
up €4.1m (+487%), from €848,474 to €5.0m
- Turnover -€1.6m
down €1.6m (-97.4%), from €1.7m to €42,385
- Staff costs +€419,750
up €419,750 (+33.0%), from €1.3m to €1.7m
- Services and other goods +€301,516
up €301,516 (+11.1%), from €2.7m to €3.0m
- Financial charges +€216,712
up €216,712 (+77.7%), from €278,831 to €495,543
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
-€1.9m
Turnover
-€1.6m
Other operating income
+€4.1m
Services and other goods
-€301,516
Staff costs
-€419,750
Depreciation
+€8,795
Other operating charges
+€1,354
Financial income
-€73,601
Financial charges
-€216,712
Taxes
-€6,385
Result 2025
-€386,567
raises the resultlowers the result
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
-€2.6m
Investment
-€45.2m
Financing
+€46.0m
Cash 2024
€1.9m
From operations (derived)
-€2.6m
Net result for the year
-€386,567
Depreciation
+€199,869
Receivables within one year
-€2.5m
Smaller working-capital items
+€186,209
Accrued charges and deferred income
-€158,219
Investment (derived)
-€45.2m
Investment in fixed assets (net)
-€45.2m
Financing
+€46.0m
Debts after one year
+€6.5m
Current portion of long-term debt
-€32,028
Contributions, distributions and other
+€39.5m
Cash 2025
€0
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €33,735,809 | €79,364,545 | +€45.6m | +135% |
| Formation expenses | 20 | €3,642 | - | -€3,642 | |
| Fixed assets | 21/28 | €31,420,472 | €76,456,988 | +€45.0m | +143% |
| Intangible fixed assets | 21 | €433,784 | €287,497 | -€146,286 | -33.7% |
| Tangible fixed assets | 22/27 | €128,214 | €161,016 | +€32,802 | +25.6% |
| Furniture and vehicles | 24 | €24,915 | €81,533 | +€56,618 | +227% |
| Leasing and similar rights | 25 | €103,299 | €73,620 | -€29,679 | -28.7% |
| Other tangible fixed assets | 26 | - | €5,863 | +€5,863 | |
| Financial fixed assets | 28 | €30,858,474 | €76,008,474 | +€45.2m | +146% |
| Affiliated companies | 280/1 | €30,858,474 | €76,008,474 | +€45.2m | +146% |
| Participating interests | 280 | €30,858,474 | €76,008,474 | +€45.2m | +146% |
| Current assets | 29/58 | €2,311,694 | €2,907,557 | +€595,863 | +25.8% |
| Amounts receivable within one year | 40/41 | €393,094 | €2,864,253 | +€2.5m | +629% |
| Trade receivables | 40 | €392,006 | €2,864,253 | +€2.5m | +631% |
| Other amounts receivable | 41 | €1,088 | - | -€1,088 | |
| Cash at bank and in hand | 54/58 | €1,894,638 | - | -€1.9m | |
| Deferred charges and accrued income | 490/1 | €23,963 | €43,304 | +€19,341 | +80.7% |
| Total equity and liabilities | 10/49 | €33,735,809 | €79,364,545 | +€45.6m | +135% |
| Equity | 10/15 | €29,017,455 | €68,130,888 | +€39.1m | +135% |
| Contributions | 10/11 | €33,857,447 | €67,281,112 | +€33.4m | +98.7% |
| Capital | 10 | €33,857,447 | €67,281,112 | +€33.4m | +98.7% |
| Issued capital | 100 | €33,857,447 | €67,281,112 | +€33.4m | +98.7% |
| Revaluation surpluses | 12 | €1,230,000 | €1,230,000 | = | 0.0% |
| Reserves | 13 | €6,344 | €6,344 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,344 | €6,344 | = | 0.0% |
| Legal reserve | 130 | €6,344 | €6,344 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,076,336 | -€386,568 | +€5.7m | +93.6% |
| Amounts payable | 17/49 | €4,718,354 | €11,233,657 | +€6.5m | +138% |
| Amounts payable after more than one year | 17 | €3,500,000 | €10,000,000 | +€6.5m | +186% |
| Financial debts | 170/4 | €3,500,000 | €10,000,000 | +€6.5m | +186% |
| Subordinated loans | 170 | €3,500,000 | - | -€3.5m | |
| Other loans | 174 | - | €10,000,000 | +€10.0m | |
| Amounts payable within one year | 42/48 | €1,060,135 | €1,233,657 | +€173,522 | +16.4% |
| Current portion of amounts payable after more than one year | 42 | €32,028 | - | -€32,028 | |
| Trade debts | 44 | €850,564 | €918,593 | +€68,029 | +8.0% |
| Suppliers | 440/4 | €850,564 | €918,593 | +€68,029 | +8.0% |
| Taxes, remuneration and social security | 45 | €177,543 | €254,329 | +€76,786 | +43.2% |
| Taxes | 450/3 | €21,035 | €20,785 | -€250 | -1.2% |
| Remuneration and social security | 454/9 | €156,508 | €233,545 | +€77,036 | +49.2% |
| Other amounts payable | 47/48 | - | €60,735 | +€60,735 | |
| Accrued charges and deferred income | 492/3 | €158,219 | - | -€158,219 | |
| Operating income | 70/76A | €2,504,920 | €5,019,063 | +€2.5m | +100% |
| Turnover | 70 | €1,656,446 | €42,385 | -€1.6m | -97.4% |
| Other operating income | 74 | €848,474 | €4,976,678 | +€4.1m | +487% |
| Operating charges | 60/66A | €4,214,443 | €4,925,561 | +€711,117 | +16.9% |
| Services and other goods | 61 | €2,722,135 | €3,023,651 | +€301,516 | +11.1% |
| Remuneration, social security and pensions | 62 | €1,273,526 | €1,693,276 | +€419,750 | +33.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €208,664 | €199,869 | -€8,795 | -4.2% |
| Other operating charges | 640/8 | €10,118 | €8,764 | -€1,354 | -13.4% |
| Operating profit (loss) | 9901 | -€1,709,523 | €93,502 | +€1.8m | |
| Financial income | 75/76B | €96,201 | €22,600 | -€73,601 | -76.5% |
| Recurring financial income | 75 | €96,201 | €22,600 | -€73,601 | -76.5% |
| Income from current assets | 751 | €96,201 | €22,600 | -€73,601 | -76.5% |
| Financial charges | 65/66B | €278,831 | €495,543 | +€216,712 | +77.7% |
| Recurring financial charges | 65 | €278,831 | €495,543 | +€216,712 | +77.7% |
| Debt charges | 650 | €262,071 | €490,038 | +€227,967 | +87.0% |
| Other financial charges | 652/9 | €16,759 | €5,505 | -€11,255 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,892,154 | -€379,441 | +€1.5m | +79.9% |
| Income taxes | 67/77 | €741 | €7,126 | +€6,385 | +861% |
| Taxes | 670/3 | €741 | €7,126 | +€6,385 | +861% |
| Profit (loss) for the period | 9904 | -€1,892,895 | -€386,567 | +€1.5m | +79.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,892,895 | -€386,567 | +€1.5m | +79.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.