In-Vest: 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.
In-Vest
Largest movements
- Receivables within one year +€65,077
up €65,077 (+93.2%), from €69,855 to €134,932
of which Other amounts receivable: +€56,783
- Stocks and contracts +€59,280
up €59,280 (+24.8%), from €238,556 to €297,836
- Tangible fixed assets -€26,968
down €26,968 (-5.3%), from €504,167 to €477,199
of which Land and buildings: -€22,753
- Cash +€25,107
up €25,107 (+109%), from €23,103 to €48,211
mainly Net result for the year (+€151,081) and Other debts (+€70,030)
- Other debts +€70,030
up €70,030 (+727%), from €9,636 to €79,666
- Short-term financial debts +€27,046
up €27,046 (+396%), from €6,827 to €33,873
- Debts after one year +€22,779
up €22,779 (+4.2%), from €547,680 to €570,459
- Reserves -€20,000
down €20,000 (-12.3%), from €162,967 to €142,967
- Trade debts +€12,968
up €12,968 (+179%), from €7,254 to €20,222
- Gross operating margin +€86,524
up €86,524 (+53.1%), from €163,075 to €249,599
- Taxes +€23,644
up €23,644 (+118%), from €20,065 to €43,709
- Depreciation -€5,871
down €5,871 (-15.7%), from €37,344 to €31,473
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 | €836,251 | €958,723 | +€122,472 | +14.6% |
| Fixed assets | 21/28 | €504,167 | €477,199 | -€26,968 | -5.3% |
| Tangible fixed assets | 22/27 | €504,167 | €477,199 | -€26,968 | -5.3% |
| Land and buildings | 22 | €430,608 | €407,855 | -€22,753 | -5.3% |
| Furniture and vehicles | 24 | €73,559 | €69,344 | -€4,216 | -5.7% |
| Current assets | 29/58 | €332,084 | €481,524 | +€149,441 | +45.0% |
| Stocks and contracts in progress | 3 | €238,556 | €297,836 | +€59,280 | +24.8% |
| Stocks | 30/36 | €238,556 | €297,836 | +€59,280 | +24.8% |
| Amounts receivable within one year | 40/41 | €69,855 | €134,932 | +€65,077 | +93.2% |
| Trade receivables | 40 | €9,600 | €17,893 | +€8,293 | +86.4% |
| Other amounts receivable | 41 | €60,255 | €117,038 | +€56,783 | +94.2% |
| Cash at bank and in hand | 54/58 | €23,103 | €48,211 | +€25,107 | +109% |
| Deferred charges and accrued income | 490/1 | €570 | €546 | -€24 | -4.2% |
| Total equity and liabilities | 10/49 | €836,251 | €958,723 | +€122,472 | +14.6% |
| Equity | 10/15 | €227,967 | €207,967 | -€20,000 | -8.8% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €162,967 | €142,967 | -€20,000 | -12.3% |
| Distributable reserves | 133 | €162,967 | €142,967 | -€20,000 | -12.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €608,284 | €750,756 | +€142,472 | +23.4% |
| Amounts payable after more than one year | 17 | €547,680 | €570,459 | +€22,779 | +4.2% |
| Financial debts | 170/4 | €547,680 | €570,459 | +€22,779 | +4.2% |
| Amounts payable within one year | 42/48 | €60,604 | €180,297 | +€119,693 | +198% |
| Current portion of amounts payable after more than one year | 42 | €22,530 | €30,981 | +€8,451 | +37.5% |
| Financial debts | 43 | €6,827 | €33,873 | +€27,046 | +396% |
| Credit institutions | 430/8 | €6,827 | €33,873 | +€27,046 | +396% |
| Trade debts | 44 | €7,254 | €20,222 | +€12,968 | +179% |
| Suppliers | 440/4 | €7,254 | €20,222 | +€12,968 | +179% |
| Taxes, remuneration and social security | 45 | €14,357 | €15,555 | +€1,198 | +8.3% |
| Taxes | 450/3 | €14,357 | €15,555 | +€1,198 | +8.3% |
| Other amounts payable | 47/48 | €9,636 | €79,666 | +€70,030 | +727% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,344 | €31,473 | -€5,871 | -15.7% |
| Other operating charges | 640/8 | €2,073 | €2,617 | +€544 | +26.2% |
| Gross operating margin | 9900 | €163,075 | €249,599 | +€86,524 | +53.1% |
| Operating profit (loss) | 9901 | €123,658 | €215,510 | +€91,851 | +74.3% |
| Financial income | 75/76B | €653 | €1,038 | +€385 | +59.0% |
| Recurring financial income | 75 | €653 | €1,038 | +€385 | +59.0% |
| Financial charges | 65/66B | €24,098 | €21,758 | -€2,340 | -9.7% |
| Recurring financial charges | 65 | €24,098 | €21,758 | -€2,340 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €100,213 | €194,790 | +€94,577 | +94.4% |
| Income taxes | 67/77 | €20,065 | €43,709 | +€23,644 | +118% |
| Profit (loss) for the period | 9904 | €80,149 | €151,081 | +€70,933 | +88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €80,149 | €151,081 | +€70,933 | +88.5% |
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 26 October 2026 via checked.be.