FINVESTCO: 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
FINVESTCO
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€171,904
2024 · €120,323+€51,580
Equity
€2.8m
2024 · €2.7m+€23,614
Cash
€524,735
2024 · €345,189+€179,546
Balance sheet total
€6.7m
2024 · €6.7m+€11,564
Largest movements
Assets
- Tangible fixed assets -€260,191
down €260,191 (-4.4%), from €5.9m to €5.6m
of which Land and buildings: -€265,596
- Cash +€179,546
up €179,546 (+52.0%), from €345,189 to €524,735
mainly Depreciation (+€284,381) and Other debts (+€187,003)
Equity and liabilities
- Other debts +€187,003
up €187,003 (+21.0%), from €892,044 to €1.1m
- Debts after one year -€165,066
down €165,066 (-6.0%), from €2.7m to €2.6m
Income statement
- Gross operating margin +€72,520
up €72,520 (+12.3%), from €587,624 to €660,144
- Financial income +€30,278
up €30,278 (+275%), from €11,020 to €41,298
- Taxes +€24,115
up €24,115 (+46.4%), from €51,986 to €76,101
- Financial charges +€19,764
up €19,764 (+16.1%), from €123,121 to €142,885
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
€120,323
Gross operating margin
+€72,520
Depreciation
-€5,964
Other operating charges
-€1,374
Financial income
+€30,278
Financial charges
-€19,764
Taxes
-€24,115
Result 2025
€171,904
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
+€607,790
Investment
-€85,175
Financing
-€343,069
Cash 2024
€345,189
From operations (derived)
+€607,790
Net result for the year
+€171,904
Depreciation
+€284,381
Receivables within one year
-€38,211
Deferred charges and accrued income
+€6,988
Provisions
-€5,804
Trade debts
+€8,508
Tax, wage and social debts
-€7,226
Other debts
+€187,003
Accrued charges and deferred income
+€248
Investment (derived)
-€85,175
Investment in fixed assets (net)
-€24,190
Current investments
-€60,986
Financing
-€343,069
Debts after one year
-€165,066
Current portion of long-term debt
-€29,713
Contributions, distributions and other
-€148,290
Cash 2025
€524,735
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,678,707 | €6,690,271 | +€11,564 | +0.2% |
| Fixed assets | 21/28 | €6,064,364 | €5,804,174 | -€260,191 | -4.3% |
| Tangible fixed assets | 22/27 | €5,862,690 | €5,602,499 | -€260,191 | -4.4% |
| Land and buildings | 22 | €5,846,487 | €5,580,891 | -€265,596 | -4.5% |
| Furniture and vehicles | 24 | €2,326 | €9,471 | +€7,145 | +307% |
| Other tangible fixed assets | 26 | €13,877 | €12,137 | -€1,740 | -12.5% |
| Financial fixed assets | 28 | €201,675 | €201,675 | = | 0.0% |
| Current assets | 29/58 | €614,343 | €886,097 | +€271,754 | +44.2% |
| Amounts receivable within one year | 40/41 | €32,097 | €70,308 | +€38,211 | +119% |
| Trade receivables | 40 | €30,854 | €66,383 | +€35,529 | +115% |
| Other amounts receivable | 41 | €1,243 | €3,925 | +€2,682 | +216% |
| Current investments | 50/53 | €226,626 | €287,612 | +€60,986 | +26.9% |
| Cash at bank and in hand | 54/58 | €345,189 | €524,735 | +€179,546 | +52.0% |
| Deferred charges and accrued income | 490/1 | €10,431 | €3,442 | -€6,988 | -67.0% |
| Total equity and liabilities | 10/49 | €6,678,707 | €6,690,271 | +€11,564 | +0.2% |
| Equity | 10/15 | €2,730,092 | €2,753,706 | +€23,614 | +0.9% |
| Contributions | 10/11 | €477,000 | €477,000 | = | 0.0% |
| Revaluation surpluses | 12 | €40,804 | €40,804 | = | 0.0% |
| Reserves | 13 | €2,212,289 | €2,235,902 | +€23,614 | +1.1% |
| Non-distributable reserves | 130/1 | €13,966 | €13,966 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,966 | €13,966 | = | 0.0% |
| Tax-exempt reserves | 132 | €241,595 | €190,502 | -€51,093 | -21.1% |
| Distributable reserves | 133 | €1,956,727 | €2,031,434 | +€74,707 | +3.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €69,305 | €63,501 | -€5,804 | -8.4% |
| Deferred taxes | 168 | €69,305 | €63,501 | -€5,804 | -8.4% |
| Amounts payable | 17/49 | €3,879,310 | €3,873,064 | -€6,246 | -0.2% |
| Amounts payable after more than one year | 17 | €2,744,541 | €2,579,476 | -€165,066 | -6.0% |
| Financial debts | 170/4 | €2,744,541 | €2,579,476 | -€165,066 | -6.0% |
| Amounts payable within one year | 42/48 | €1,122,860 | €1,281,432 | +€158,571 | +14.1% |
| Current portion of amounts payable after more than one year | 42 | €194,779 | €165,066 | -€29,713 | -15.3% |
| Trade debts | 44 | €5,388 | €13,895 | +€8,508 | +158% |
| Suppliers | 440/4 | €5,388 | €13,895 | +€8,508 | +158% |
| Taxes, remuneration and social security | 45 | €30,650 | €23,424 | -€7,226 | -23.6% |
| Taxes | 450/3 | €30,650 | €23,424 | -€7,226 | -23.6% |
| Other amounts payable | 47/48 | €892,044 | €1,079,047 | +€187,003 | +21.0% |
| Accrued charges and deferred income | 492/3 | €11,908 | €12,157 | +€248 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,416 | €284,381 | +€5,964 | +2.1% |
| Other operating charges | 640/8 | €30,602 | €31,976 | +€1,374 | +4.5% |
| Gross operating margin | 9900 | €587,624 | €660,144 | +€72,520 | +12.3% |
| Operating profit (loss) | 9901 | €278,606 | €343,787 | +€65,181 | +23.4% |
| Financial income | 75/76B | €11,020 | €41,298 | +€30,278 | +275% |
| Recurring financial income | 75 | €11,020 | €41,298 | +€30,278 | +275% |
| Financial charges | 65/66B | €123,121 | €142,885 | +€19,764 | +16.1% |
| Recurring financial charges | 65 | €123,121 | €142,885 | +€19,764 | +16.1% |
| Profit (loss) for the period before taxes | 9903 | €166,505 | €242,200 | +€75,695 | +45.5% |
| Transfer from deferred taxes | 780 | €5,804 | €5,804 | = | 0.0% |
| Income taxes | 67/77 | €51,986 | €76,101 | +€24,115 | +46.4% |
| Profit (loss) for the period | 9904 | €120,323 | €171,904 | +€51,580 | +42.9% |
| Transfer from tax-exempt reserves | 789 | €17,413 | €51,093 | +€33,680 | +193% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €137,736 | €222,996 | +€85,260 | +61.9% |
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.