F-INVEST: what changed
F-INVEST
Largest movements
- Receivables within one year -€13,698
down €13,698 (-22.4%), from €61,148 to €47,450
of which Trade receivables: -€13,050
- Advances received -€31,500
down €31,500 (-73.3%), from €43,000 to €11,500
- Reserves +€13,911
up €13,911 (+9.0%), from €153,949 to €167,860
of which Distributable reserves: +€13,911
- Tax, wage and social debts +€3,536
up €3,536 (+56.2%), from €6,290 to €9,827
- Financial charges -€902
down €902 (-51.3%), from €1,758 to €856
- Taxes +€343
up €343 (+7.9%), from €4,352 to €4,696
- Gross operating margin +€297
up €297 (+1.5%), from €19,294 to €19,591
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 | €275,029 | €261,399 | -€13,630 | -5.0% |
| Fixed assets | 21/28 | €211,857 | €211,857 | = | 0.0% |
| Tangible fixed assets | 22/27 | €211,857 | €211,857 | = | 0.0% |
| Land and buildings | 22 | €211,857 | €211,857 | = | 0.0% |
| Current assets | 29/58 | €63,172 | €49,542 | -€13,630 | -21.6% |
| Amounts receivable within one year | 40/41 | €61,148 | €47,450 | -€13,698 | -22.4% |
| Trade receivables | 40 | €60,500 | €47,450 | -€13,050 | -21.6% |
| Other amounts receivable | 41 | €648 | €0 | -€648 | -100% |
| Cash at bank and in hand | 54/58 | €2,025 | €2,092 | +€67 | +3.3% |
| Total equity and liabilities | 10/49 | €275,029 | €261,399 | -€13,630 | -5.0% |
| Equity | 10/15 | €176,408 | €190,319 | +€13,911 | +7.9% |
| Contributions | 10/11 | €22,459 | €22,459 | = | 0.0% |
| Reserves | 13 | €153,949 | €167,860 | +€13,911 | +9.0% |
| Non-distributable reserves | 130/1 | €2,246 | €2,246 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,246 | €0 | -€2,246 | -100% |
| Other | 1319 | - | €2,246 | +€2,246 | |
| Distributable reserves | 133 | €151,703 | €165,614 | +€13,911 | +9.2% |
| Amounts payable | 17/49 | €98,621 | €71,080 | -€27,542 | -27.9% |
| Amounts payable within one year | 42/48 | €98,621 | €71,080 | -€27,542 | -27.9% |
| Trade debts | 44 | €8 | €0 | -€8 | -100% |
| Suppliers | 440/4 | €8 | €0 | -€8 | -100% |
| Advances received on contracts in progress | 46 | €43,000 | €11,500 | -€31,500 | -73.3% |
| Taxes, remuneration and social security | 45 | €6,290 | €9,827 | +€3,536 | +56.2% |
| Taxes | 450/3 | €6,290 | €9,827 | +€3,536 | +56.2% |
| Other amounts payable | 47/48 | €49,322 | €49,753 | +€430 | +0.9% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €19,294 | €19,591 | +€297 | +1.5% |
| Operating profit (loss) | 9901 | €19,168 | €19,463 | +€295 | +1.5% |
| Financial charges | 65/66B | €1,758 | €856 | -€902 | -51.3% |
| Recurring financial charges | 65 | €1,758 | €856 | -€902 | -51.3% |
| Profit (loss) for the period before taxes | 9903 | €17,410 | €18,607 | +€1,197 | +6.9% |
| Income taxes | 67/77 | €4,352 | €4,696 | +€343 | +7.9% |
| Profit (loss) for the period | 9904 | €13,057 | €13,911 | +€854 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,057 | €13,911 | +€854 | +6.5% |
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 5 November 2026 via checked.be.