INAVIUS: what changed
Two fiscal 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.
INAVIUS
Largest movements
- Receivables within one year +€57,356
up €57,356 (+1649.7%), from €3,477 to €60,832
of which Trade receivables: +€30,904
- Cash -€47,303
down €47,303 (-33.2%), from €142,324 to €95,020
mainly Receivables within one year (-€57,356) and Investment in fixed assets (net) (-€52,147)
- Tangible fixed assets +€34,747
up €34,747 (+48.5%), from €71,608 to €106,355
of which Other tangible fixed assets: +€30,972
- Deferred charges and accrued income -€34,157
down €34,157 (-47.3%), from €72,286 to €38,129
- Trade debts +€36,115
up €36,115 (+1084.5%), from €3,330 to €39,445
- Tax, wage and social debts -€20,588
down €20,588 (-73.0%), from €28,193 to €7,605
of which Taxes: -€14,865
- Other debts -€16,785
down €16,785 (-22.9%), from €73,195 to €56,410
- Reserves +€9,714
up €9,714 (+5.6%), from €174,762 to €184,476
of which Distributable reserves: +€9,714
- Gross operating margin -€99,070
down €99,070 (-71.3%), from €138,974 to €39,904
- Taxes -€31,751
down €31,751 (-87.0%), from €36,512 to €4,762
- Depreciation +€10,362
up €10,362 (+112.4%), from €9,223 to €19,586
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.
Cash bridge derived
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 | €291,880 | €300,336 | +€8,456 | +2.9% |
| Fixed assets | 21/28 | €73,794 | €106,355 | +€32,561 | +44.1% |
| Tangible fixed assets | 22/27 | €71,608 | €106,355 | +€34,747 | +48.5% |
| Plant, machinery and equipment | 23 | €695 | €315 | -€380 | -54.6% |
| Furniture and vehicles | 24 | €11,086 | €15,240 | +€4,154 | +37.5% |
| Other tangible fixed assets | 26 | €59,827 | €90,800 | +€30,972 | +51.8% |
| Financial fixed assets | 28 | €2,185 | €0 | -€2,185 | -100.0% |
| Current assets | 29/58 | €218,086 | €193,981 | -€24,105 | -11.1% |
| Amounts receivable within one year | 40/41 | €3,477 | €60,832 | +€57,356 | +1649.7% |
| Trade receivables | 40 | €3,477 | €34,381 | +€30,904 | +888.9% |
| Other amounts receivable | 41 | €0 | €26,451 | +€26,451 | |
| Cash at bank and in hand | 54/58 | €142,324 | €95,020 | -€47,303 | -33.2% |
| Deferred charges and accrued income | 490/1 | €72,286 | €38,129 | -€34,157 | -47.3% |
| Total equity and liabilities | 10/49 | €291,880 | €300,336 | +€8,456 | +2.9% |
| Equity | 10/15 | €187,162 | €196,876 | +€9,714 | +5.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €174,762 | €184,476 | +€9,714 | +5.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €174,762 | €184,476 | +€9,714 | +5.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €104,718 | €103,460 | -€1,258 | -1.2% |
| Amounts payable within one year | 42/48 | €104,718 | €103,460 | -€1,258 | -1.2% |
| Trade debts | 44 | €3,330 | €39,445 | +€36,115 | +1084.5% |
| Suppliers | 440/4 | €3,330 | €39,445 | +€36,115 | +1084.5% |
| Taxes, remuneration and social security | 45 | €28,193 | €7,605 | -€20,588 | -73.0% |
| Taxes | 450/3 | €22,470 | €7,605 | -€14,865 | -66.2% |
| Remuneration and social security | 454/9 | €5,723 | €0 | -€5,723 | -100.0% |
| Other amounts payable | 47/48 | €73,195 | €56,410 | -€16,785 | -22.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,223 | €19,586 | +€10,362 | +112.4% |
| Other operating charges | 640/8 | €1,865 | €2,429 | +€564 | +30.3% |
| Gross operating margin | 9900 | €138,974 | €39,904 | -€99,070 | -71.3% |
| Operating profit (loss) | 9901 | €127,886 | €17,890 | -€109,997 | -86.0% |
| Financial income | 75/76B | €404 | €478 | +€73 | +18.2% |
| Recurring financial income | 75 | €404 | €478 | +€73 | +18.2% |
| Financial charges | 65/66B | €2,791 | €3,892 | +€1,101 | +39.5% |
| Recurring financial charges | 65 | €2,791 | €3,892 | +€1,101 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €125,500 | €14,476 | -€111,024 | -88.5% |
| Income taxes | 67/77 | €36,512 | €4,762 | -€31,751 | -87.0% |
| Profit (loss) for the period | 9904 | €88,988 | €9,714 | -€79,273 | -89.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,988 | €9,714 | -€79,273 | -89.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.