I-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.
I-INVEST
Largest movements
- Current investments -€653,540
down €653,540 (-65.5%), from €998,109 to €344,569
- Cash -€532,382
down €532,382 (-89.9%), from €592,325 to €59,943
mainly Contributions, distributions and other (-€1.2m) and Debts after one year (-€341,230)
- Tangible fixed assets -€245,551
down €245,551 (-3.9%), from €6.2m to €6.0m
of which Land and buildings: -€211,160
- Reserves -€1.0m
down €1.0m (-23.2%), from €4.4m to €3.4m
of which Distributable reserves: -€1.0m
- Debts after one year -€341,230
down €341,230 (-7.9%), from €4.3m to €4.0m
- Gross operating margin -€634,761
down €634,761 (-51.0%), from €1.2m to €610,741
- Depreciation -€124,259
down €124,259 (-30.9%), from €402,091 to €277,832
- Taxes +€62,141
up €62,141 (+1,259%), from €4,934 to €67,076
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 | €9,190,470 | €7,808,871 | -€1.4m | -15.0% |
| Fixed assets | 21/28 | €6,233,820 | €5,988,269 | -€245,551 | -3.9% |
| Tangible fixed assets | 22/27 | €6,233,820 | €5,988,269 | -€245,551 | -3.9% |
| Land and buildings | 22 | €6,070,769 | €5,859,609 | -€211,160 | -3.5% |
| Furniture and vehicles | 24 | €133,802 | €117,415 | -€16,388 | -12.2% |
| Leasing and similar rights | 25 | €29,249 | €11,246 | -€18,003 | -61.6% |
| Current assets | 29/58 | €2,956,650 | €1,820,601 | -€1.1m | -38.4% |
| Amounts receivable within one year | 40/41 | €1,365,439 | €1,410,554 | +€45,115 | +3.3% |
| Trade receivables | 40 | €42,350 | €30,250 | -€12,100 | -28.6% |
| Other amounts receivable | 41 | €1,323,089 | €1,380,304 | +€57,215 | +4.3% |
| Current investments | 50/53 | €998,109 | €344,569 | -€653,540 | -65.5% |
| Cash at bank and in hand | 54/58 | €592,325 | €59,943 | -€532,382 | -89.9% |
| Deferred charges and accrued income | 490/1 | €776 | €5,536 | +€4,760 | +613% |
| Total equity and liabilities | 10/49 | €9,190,470 | €7,808,871 | -€1.4m | -15.0% |
| Equity | 10/15 | €4,443,200 | €3,427,591 | -€1.0m | -22.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,381,700 | €3,366,091 | -€1.0m | -23.2% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €552,692 | €544,387 | -€8,305 | -1.5% |
| Distributable reserves | 133 | €3,822,859 | €2,815,554 | -€1.0m | -26.3% |
| Amounts payable | 17/49 | €4,747,269 | €4,381,280 | -€365,989 | -7.7% |
| Amounts payable after more than one year | 17 | €4,334,889 | €3,993,659 | -€341,230 | -7.9% |
| Financial debts | 170/4 | €4,334,889 | €3,993,659 | -€341,230 | -7.9% |
| Amounts payable within one year | 42/48 | €412,380 | €387,621 | -€24,760 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €348,985 | €341,230 | -€7,755 | -2.2% |
| Trade debts | 44 | €25,382 | €1,953 | -€23,429 | -92.3% |
| Suppliers | 440/4 | €25,382 | €1,953 | -€23,429 | -92.3% |
| Taxes, remuneration and social security | 45 | €38,014 | €44,438 | +€6,425 | +16.9% |
| Taxes | 450/3 | €38,014 | €44,438 | +€6,425 | +16.9% |
| Non-recurring operating income | 76A | €603,969 | - | -€603,969 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €402,091 | €277,832 | -€124,259 | -30.9% |
| Other operating charges | 640/8 | €35,539 | €36,295 | +€756 | +2.1% |
| Gross operating margin | 9900 | €1,245,503 | €610,741 | -€634,761 | -51.0% |
| Operating profit (loss) | 9901 | €807,873 | €296,614 | -€511,258 | -63.3% |
| Financial income | 75/76B | €31,539 | €38,156 | +€6,617 | +21.0% |
| Recurring financial income | 75 | €31,539 | €38,156 | +€6,617 | +21.0% |
| Financial charges | 65/66B | €88,810 | €95,704 | +€6,894 | +7.8% |
| Recurring financial charges | 65 | €88,810 | €95,704 | +€6,894 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €750,602 | €239,066 | -€511,535 | -68.2% |
| Income taxes | 67/77 | €4,934 | €67,076 | +€62,141 | +1,259% |
| Profit (loss) for the period | 9904 | €745,667 | €171,991 | -€573,677 | -76.9% |
| Transfer from tax-exempt reserves | 789 | - | €8,305 | +€8,305 | |
| Transfer to tax-exempt reserves | 689 | €552,692 | - | -€552,692 | |
| Profit (loss) for the period to be appropriated | 9905 | €192,976 | €180,296 | -€12,680 | -6.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.