INVEMIS: 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.
INVEMIS
Largest movements
- Current investments +€73,015
up €73,015 (+3,114%), from €2,344 to €75,359
- Cash -€70,352
down €70,352 (-54.9%), from €128,228 to €57,876
mainly Current investments (-€73,015) and Debts after one year (-€25,291)
- Tangible fixed assets -€57,751
down €57,751 (-14.5%), from €398,210 to €340,459
- Deferred charges and accrued income +€13,019
new in 2025: €13,019
- Debts after one year -€25,291
down €25,291 (-40.1%), from €63,073 to €37,782
- Accrued charges and deferred income +€14,593
new in 2025: €14,593
- Reserves -€10,958
down €10,958 (-16.7%), from €65,739 to €54,781
of which Tax-exempt reserves: -€10,958
- Current portion of long-term debt -€10,108
down €10,108 (-100%), from €10,108 to €0
- Trade debts -€7,459
down €7,459 (-95.5%), from €7,812 to €353
- Gross operating margin +€18,532
up €18,532 (+32.4%), from €57,192 to €75,723
- Depreciation -€3,337
down €3,337 (-5.5%), from €61,087 to €57,751
- Financial charges +€1,489
up €1,489 (+9.6%), from €15,506 to €16,995
- Financial income +€954
up €954 (+821%), from €116 to €1,070
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 | €570,723 | €528,494 | -€42,229 | -7.4% |
| Fixed assets | 21/28 | €398,391 | €340,459 | -€57,932 | -14.5% |
| Tangible fixed assets | 22/27 | €398,210 | €340,459 | -€57,751 | -14.5% |
| Land and buildings | 22 | €398,210 | €340,459 | -€57,751 | -14.5% |
| Financial fixed assets | 28 | €182 | €0 | -€182 | -100% |
| Current assets | 29/58 | €172,332 | €188,035 | +€15,703 | +9.1% |
| Amounts receivable within one year | 40/41 | €41,759 | €41,780 | +€21 | +0.1% |
| Trade receivables | 40 | €1,108 | €370 | -€738 | -66.6% |
| Other amounts receivable | 41 | €40,651 | €41,410 | +€759 | +1.9% |
| Current investments | 50/53 | €2,344 | €75,359 | +€73,015 | +3,114% |
| Cash at bank and in hand | 54/58 | €128,228 | €57,876 | -€70,352 | -54.9% |
| Deferred charges and accrued income | 490/1 | - | €13,019 | +€13,019 | |
| Total equity and liabilities | 10/49 | €570,723 | €528,494 | -€42,229 | -7.4% |
| Equity | 10/15 | €60,269 | €56,314 | -€3,955 | -6.6% |
| Contributions | 10/11 | €8,676 | €8,676 | = | 0.0% |
| Reserves | 13 | €65,739 | €54,781 | -€10,958 | -16.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €62,853 | €51,895 | -€10,958 | -17.4% |
| Distributable reserves | 133 | €2,886 | €2,886 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,146 | -€7,143 | +€7,003 | +49.5% |
| Provisions and deferred taxes | 16 | €31,100 | €25,455 | -€5,645 | -18.2% |
| Deferred taxes | 168 | €31,100 | €25,455 | -€5,645 | -18.2% |
| Amounts payable | 17/49 | €479,355 | €446,726 | -€32,629 | -6.8% |
| Amounts payable after more than one year | 17 | €63,073 | €37,782 | -€25,291 | -40.1% |
| Financial debts | 170/4 | €63,073 | €37,782 | -€25,291 | -40.1% |
| Amounts payable within one year | 42/48 | €416,281 | €394,351 | -€21,931 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €10,108 | €0 | -€10,108 | -100% |
| Trade debts | 44 | €7,812 | €353 | -€7,459 | -95.5% |
| Suppliers | 440/4 | €7,812 | €353 | -€7,459 | -95.5% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €398,361 | €393,998 | -€4,364 | -1.1% |
| Accrued charges and deferred income | 492/3 | - | €14,593 | +€14,593 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,087 | €57,751 | -€3,337 | -5.5% |
| Other operating charges | 640/8 | €11,456 | €11,641 | +€185 | +1.6% |
| Gross operating margin | 9900 | €57,192 | €75,723 | +€18,532 | +32.4% |
| Operating profit (loss) | 9901 | -€15,352 | €6,331 | +€21,683 | |
| Financial income | 75/76B | €116 | €1,070 | +€954 | +821% |
| Recurring financial income | 75 | €116 | €1,070 | +€954 | +821% |
| Financial charges | 65/66B | €15,506 | €16,995 | +€1,489 | +9.6% |
| Recurring financial charges | 65 | €15,506 | €16,995 | +€1,489 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | -€30,742 | -€9,594 | +€21,148 | +68.8% |
| Transfer from deferred taxes | 780 | €5,645 | €5,645 | = | 0.0% |
| Income taxes | 67/77 | €8 | €6 | -€1 | -18.4% |
| Profit (loss) for the period | 9904 | -€25,104 | -€3,955 | +€21,150 | +84.2% |
| Transfer from tax-exempt reserves | 789 | €10,958 | €10,958 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,146 | €7,003 | +€21,150 |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.