INVEBEL: 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.
INVEBEL
Largest movements
- Cash -€35,248
down €35,248 (-96.9%), from €36,390 to €1,141
mainly Net result for the year (-€59,598) and Investment in fixed assets (net) (-€6,355)
- Tangible fixed assets -€21,000
down €21,000 (-35.0%), from €60,050 to €39,050
of which Plant, machinery and equipment: -€16,615
- Profit (loss) carried forward -€59,598
down €59,598 (-400%), from -€14,917 to -€74,516
- Trade debts +€6,314
up €6,314 (+3.4%), from €184,274 to €190,587
- Tax, wage and social debts -€4,920
down €4,920 (-34.1%), from €14,419 to €9,499
- Gross operating margin -€16,323
down €16,323 (-209%), from -€7,807 to -€24,129
- Other operating charges +€5,324
up €5,324 (+308%), from €1,727 to €7,051
- Depreciation +€1,577
up €1,577 (+6.1%), from €26,003 to €27,580
- Staff costs -€1,075
no longer reported in 2024 (was €1,075)
- Financial charges -€254
down €254 (-23.3%), from €1,092 to €838
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €251,173 | €194,631 | -€56,542 | -22.5% |
| Formation expenses | 20 | €590 | €366 | -€225 | -38.1% |
| Fixed assets | 21/28 | €60,050 | €39,050 | -€21,000 | -35.0% |
| Tangible fixed assets | 22/27 | €60,050 | €39,050 | -€21,000 | -35.0% |
| Plant, machinery and equipment | 23 | €31,069 | €14,454 | -€16,615 | -53.5% |
| Furniture and vehicles | 24 | €13,982 | €13,596 | -€386 | -2.8% |
| Other tangible fixed assets | 26 | €14,999 | €10,999 | -€4,000 | -26.7% |
| Current assets | 29/58 | €190,533 | €155,216 | -€35,317 | -18.5% |
| Amounts receivable within one year | 40/41 | €153,974 | €154,075 | +€101 | +0.1% |
| Trade receivables | 40 | €150,089 | €154,075 | +€3,986 | +2.7% |
| Other amounts receivable | 41 | €3,885 | - | -€3,885 | |
| Cash at bank and in hand | 54/58 | €36,390 | €1,141 | -€35,248 | -96.9% |
| Deferred charges and accrued income | 490/1 | €170 | - | -€170 | |
| Total equity and liabilities | 10/49 | €251,173 | €194,631 | -€56,542 | -22.5% |
| Equity | 10/15 | €35,083 | -€24,516 | -€59,598 | |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,917 | -€74,516 | -€59,598 | -400% |
| Amounts payable | 17/49 | €216,091 | €219,147 | +€3,056 | +1.4% |
| Amounts payable within one year | 42/48 | €216,091 | €219,147 | +€3,056 | +1.4% |
| Trade debts | 44 | €184,274 | €190,587 | +€6,314 | +3.4% |
| Suppliers | 440/4 | €184,274 | €190,587 | +€6,314 | +3.4% |
| Taxes, remuneration and social security | 45 | €14,419 | €9,499 | -€4,920 | -34.1% |
| Taxes | 450/3 | €14,419 | €9,499 | -€4,920 | -34.1% |
| Other amounts payable | 47/48 | €17,398 | €19,060 | +€1,662 | +9.6% |
| Remuneration, social security and pensions | 62 | €1,075 | - | -€1,075 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,003 | €27,580 | +€1,577 | +6.1% |
| Other operating charges | 640/8 | €1,727 | €7,051 | +€5,324 | +308% |
| Gross operating margin | 9900 | -€7,807 | -€24,129 | -€16,323 | -209% |
| Operating profit (loss) | 9901 | -€36,611 | -€58,760 | -€22,149 | -60.5% |
| Financial charges | 65/66B | €1,092 | €838 | -€254 | -23.3% |
| Recurring financial charges | 65 | €1,092 | €838 | -€254 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,703 | -€59,598 | -€21,895 | -58.1% |
| Income taxes | 67/77 | €123 | - | -€123 | |
| Profit (loss) for the period | 9904 | -€37,826 | -€59,598 | -€21,772 | -57.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,826 | -€59,598 | -€21,772 | -57.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.