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
- Stocks and contracts +€453,609
up €453,609 (+55.4%), from €818,728 to €1.3m
- Receivables within one year +€67,016
up €67,016 (+16.7%), from €400,553 to €467,569
of which Other amounts receivable: +€67,016
- Other debts +€522,800
up €522,800 (+180%), from €291,148 to €813,948
- Debts after one year +€140,179
up €140,179 (+31.3%), from €448,041 to €588,220
- Reserves -€103,500
down €103,500 (-17.5%), from €590,360 to €486,860
- Tax, wage and social debts -€32,589
down €32,589 (-100%), from €32,589 to €0
- Gross operating margin -€61,850
down €61,850 (-67.0%), from €92,368 to €30,518
- Financial charges -€17,325
down €17,325 (-37.9%), from €45,768 to €28,443
- Taxes -€12,463
down €12,463 (-80.7%), from €15,447 to €2,984
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 | €1,421,710 | €1,963,932 | +€542,222 | +38.1% |
| Fixed assets | 21/28 | €157,087 | €157,087 | = | 0.0% |
| Financial fixed assets | 28 | €157,087 | €157,087 | = | 0.0% |
| Current assets | 29/58 | €1,264,623 | €1,806,845 | +€542,222 | +42.9% |
| Stocks and contracts in progress | 3 | €818,728 | €1,272,338 | +€453,609 | +55.4% |
| Stocks | 30/36 | €818,728 | €1,272,338 | +€453,609 | +55.4% |
| Amounts receivable within one year | 40/41 | €400,553 | €467,569 | +€67,016 | +16.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €400,553 | €467,569 | +€67,016 | +16.7% |
| Cash at bank and in hand | 54/58 | €22,735 | €39,255 | +€16,520 | +72.7% |
| Deferred charges and accrued income | 490/1 | €22,607 | €27,684 | +€5,077 | +22.5% |
| Total equity and liabilities | 10/49 | €1,421,710 | €1,963,932 | +€542,222 | +38.1% |
| Equity | 10/15 | €640,883 | €542,938 | -€97,945 | -15.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €590,360 | €486,860 | -€103,500 | -17.5% |
| Distributable reserves | 133 | €590,360 | €486,860 | -€103,500 | -17.5% |
| Profit (loss) carried forward | 14 | €31,923 | €37,478 | +€5,555 | +17.4% |
| Amounts payable | 17/49 | €780,828 | €1,420,994 | +€640,167 | +82.0% |
| Amounts payable after more than one year | 17 | €448,041 | €588,220 | +€140,179 | +31.3% |
| Financial debts | 170/4 | €448,041 | €588,220 | +€140,179 | +31.3% |
| Amounts payable within one year | 42/48 | €326,340 | €826,456 | +€500,117 | +153% |
| Trade debts | 44 | €2,602 | €12,508 | +€9,906 | +381% |
| Suppliers | 440/4 | €2,602 | €12,508 | +€9,906 | +381% |
| Taxes, remuneration and social security | 45 | €32,589 | €0 | -€32,589 | -100% |
| Taxes | 450/3 | €32,589 | €0 | -€32,589 | -100% |
| Other amounts payable | 47/48 | €291,148 | €813,948 | +€522,800 | +180% |
| Accrued charges and deferred income | 492/3 | €6,447 | €6,317 | -€129 | -2.0% |
| Other operating charges | 640/8 | €1,379 | €1,536 | +€157 | +11.4% |
| Gross operating margin | 9900 | €92,368 | €30,518 | -€61,850 | -67.0% |
| Operating profit (loss) | 9901 | €90,989 | €28,983 | -€62,006 | -68.1% |
| Financial income | 75/76B | €8,001 | €8,000 | -€1 | 0.0% |
| Recurring financial income | 75 | €8,001 | €8,000 | -€1 | 0.0% |
| Financial charges | 65/66B | €45,768 | €28,443 | -€17,325 | -37.9% |
| Recurring financial charges | 65 | €45,768 | €28,443 | -€17,325 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €53,221 | €8,539 | -€44,682 | -84.0% |
| Income taxes | 67/77 | €15,447 | €2,984 | -€12,463 | -80.7% |
| Profit (loss) for the period | 9904 | €37,774 | €5,555 | -€32,219 | -85.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,774 | €5,555 | -€32,219 | -85.3% |
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 27 October 2026 via checked.be.