GENERATION INVEST: what changed
What changed
GENERATION INVEST
NACE 68.110, Buying and selling of own real estate
filed annual accounts (NBB)
Net result for the year
-€289,095
2024 · €305,459-€594,555
Equity
€1.5m
2024 · €1.8m-€289,095
Cash
€544,686
2024 · €842,264-€297,577
Balance sheet total
€4.4m
2024 · €4.0m+€388,169
Largest movements
Assets
- Tangible fixed assets +€802,272
up €802,272 (+26.4%), from €3.0m to €3.8m
of which Assets under construction and advance payments: +€884,945
- Cash -€297,577
down €297,577 (-35.3%), from €842,264 to €544,686
mainly Investment in fixed assets (net) (-€884,945) and Other debts (-€787,273)
- Receivables after one year -€124,703
no longer reported in 2025 (was €124,703)
Equity and liabilities
- Debts after one year +€1.5m
up €1.5m (+246%), from €608,617 to €2.1m
of which Other amounts payable: +€1.5m
- Other debts -€787,273
down €787,273 (-68.7%), from €1.1m to €358,956
- Profit (loss) carried forward -€270,123
down €270,123 (-18.4%), from €1.5m to €1.2m
- Tax, wage and social debts -€123,358
down €123,358 (-94.6%), from €130,352 to €6,994
of which Taxes: -€125,715
- Accrued charges and deferred income +€76,500
new in 2025: €76,500
Income statement
- Gross operating margin -€646,538
down €646,538, from €543,671 to -€102,868
- Taxes -€125,340
down €125,340 (-98.6%), from €127,170 to €1,830
- Financial charges +€67,640
up €67,640 (+345%), from €19,618 to €87,259
- Other operating charges +€8,063
up €8,063 (+49.9%), from €16,173 to €24,236
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.
Result 2024
€305,459
Gross operating margin
-€646,538
Depreciation
+€2,347
Other operating charges
-€8,063
Financial income
+€0
Financial charges
-€67,640
Taxes
+€125,340
Result 2025
-€289,095
raises the resultlowers the result
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.
From operations
-€914,992
Investment
-€884,945
Financing
+€1.5m
Cash 2024
€842,264
From operations (derived)
-€914,992
Net result for the year
-€289,095
Depreciation
+€82,673
Receivables after one year
+€124,703
Receivables within one year
-€10,000
Deferred charges and accrued income
+€1,823
Provisions
-€9,769
Trade debts
+€18,805
Tax, wage and social debts
-€123,358
Other debts
-€787,273
Accrued charges and deferred income
+€76,500
Investment (derived)
-€884,945
Investment in fixed assets (net)
-€884,945
Financing
+€1.5m
Debts after one year
+€1.5m
Current portion of long-term debt
+€7,444
Cash 2025
€544,686
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,006,661 | €4,394,829 | +€388,169 | +9.7% |
| Fixed assets | 21/28 | €3,037,871 | €3,840,143 | +€802,272 | +26.4% |
| Tangible fixed assets | 22/27 | €3,033,658 | €3,835,930 | +€802,272 | +26.4% |
| Land and buildings | 22 | €1,495,628 | €1,426,227 | -€69,401 | -4.6% |
| Furniture and vehicles | 24 | €40,608 | €27,337 | -€13,271 | -32.7% |
| Assets under construction and advance payments | 27 | €1,497,422 | €2,382,367 | +€884,945 | +59.1% |
| Financial fixed assets | 28 | €4,213 | €4,213 | = | 0.0% |
| Current assets | 29/58 | €968,790 | €554,686 | -€414,103 | -42.7% |
| Amounts receivable after more than one year | 29 | €124,703 | - | -€124,703 | |
| Trade receivables | 290 | €124,703 | - | -€124,703 | |
| Amounts receivable within one year | 40/41 | - | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | - | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €842,264 | €544,686 | -€297,577 | -35.3% |
| Deferred charges and accrued income | 490/1 | €1,823 | - | -€1,823 | |
| Total equity and liabilities | 10/49 | €4,006,661 | €4,394,829 | +€388,169 | +9.7% |
| Equity | 10/15 | €1,819,418 | €1,530,322 | -€289,095 | -15.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €287,631 | €268,659 | -€18,972 | -6.6% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €281,145 | €262,173 | -€18,972 | -6.7% |
| Distributable reserves | 133 | €286 | €286 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,469,787 | €1,199,663 | -€270,123 | -18.4% |
| Provisions and deferred taxes | 16 | €143,738 | €133,969 | -€9,769 | -6.8% |
| Deferred taxes | 168 | €143,738 | €133,969 | -€9,769 | -6.8% |
| Amounts payable | 17/49 | €2,043,505 | €2,730,539 | +€687,033 | +33.6% |
| Amounts payable after more than one year | 17 | €608,617 | €2,103,532 | +€1.5m | +246% |
| Financial debts | 170/4 | €386,277 | €351,192 | -€35,085 | -9.1% |
| Other amounts payable | 178/9 | €222,340 | €1,752,340 | +€1.5m | +688% |
| Amounts payable within one year | 42/48 | €1,434,888 | €550,506 | -€884,382 | -61.6% |
| Current portion of amounts payable after more than one year | 42 | €156,252 | €163,697 | +€7,444 | +4.8% |
| Trade debts | 44 | €2,055 | €20,860 | +€18,805 | +915% |
| Suppliers | 440/4 | €2,055 | €20,860 | +€18,805 | +915% |
| Taxes, remuneration and social security | 45 | €130,352 | €6,994 | -€123,358 | -94.6% |
| Taxes | 450/3 | €130,352 | €4,637 | -€125,715 | -96.4% |
| Remuneration and social security | 454/9 | - | €2,357 | +€2,357 | |
| Other amounts payable | 47/48 | €1,146,229 | €358,956 | -€787,273 | -68.7% |
| Accrued charges and deferred income | 492/3 | - | €76,500 | +€76,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,019 | €82,673 | -€2,347 | -2.8% |
| Other operating charges | 640/8 | €16,173 | €24,236 | +€8,063 | +49.9% |
| Gross operating margin | 9900 | €543,671 | -€102,868 | -€646,538 | |
| Operating profit (loss) | 9901 | €442,478 | -€209,776 | -€652,255 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €19,618 | €87,259 | +€67,640 | +345% |
| Recurring financial charges | 65 | €19,618 | €87,259 | +€67,640 | +345% |
| Profit (loss) for the period before taxes | 9903 | €422,860 | -€297,035 | -€719,895 | |
| Transfer from deferred taxes | 780 | €9,769 | €9,769 | = | 0.0% |
| Income taxes | 67/77 | €127,170 | €1,830 | -€125,340 | -98.6% |
| Profit (loss) for the period | 9904 | €305,459 | -€289,095 | -€594,555 | |
| Transfer from tax-exempt reserves | 789 | €18,972 | €18,972 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €324,431 | -€270,123 | -€594,555 |
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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 8 November 2026 via checked.be.