Inver: 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.
Inver
Largest movements
- Cash -€870,558
down €870,558 (-81.7%), from €1.1m to €195,133
mainly Debts after one year (-€400,000) and Other debts (-€366,933)
- Current investments +€298,544
up €298,544 (+71.2%), from €419,274 to €717,818
- Tangible fixed assets -€58,290
down €58,290 (-2.3%), from €2.5m to €2.4m
of which Land and buildings: -€91,572
- Debts after one year -€400,000
down €400,000 (-36.4%), from €1.1m to €700,000
- Other debts -€366,933
down €366,933 (-99.7%), from €368,097 to €1,164
- Reserves +€59,066
up €59,066 (+5.9%), from €1.0m to €1.1m
of which Distributable reserves: +€85,432
- Financial charges +€15,130
up €15,130 (+80.8%), from €18,725 to €33,855
- Financial income -€10,882
down €10,882 (-20.7%), from €52,692 to €41,811
- Taxes -€4,979
down €4,979 (-10.5%), from €47,250 to €42,270
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 | €4,021,301 | €3,350,990 | -€670,311 | -16.7% |
| Fixed assets | 21/28 | €2,481,705 | €2,423,415 | -€58,290 | -2.3% |
| Tangible fixed assets | 22/27 | €2,481,705 | €2,423,415 | -€58,290 | -2.3% |
| Land and buildings | 22 | €2,479,939 | €2,388,367 | -€91,572 | -3.7% |
| Furniture and vehicles | 24 | €1,766 | €1,230 | -€536 | -30.3% |
| Other tangible fixed assets | 26 | - | €33,818 | +€33,818 | |
| Current assets | 29/58 | €1,539,596 | €927,575 | -€612,021 | -39.8% |
| Amounts receivable within one year | 40/41 | €46,343 | €13,147 | -€33,196 | -71.6% |
| Trade receivables | 40 | €40,646 | €7,450 | -€33,196 | -81.7% |
| Other amounts receivable | 41 | €5,697 | €5,697 | = | 0.0% |
| Current investments | 50/53 | €419,274 | €717,818 | +€298,544 | +71.2% |
| Cash at bank and in hand | 54/58 | €1,065,691 | €195,133 | -€870,558 | -81.7% |
| Deferred charges and accrued income | 490/1 | €8,288 | €1,477 | -€6,811 | -82.2% |
| Total equity and liabilities | 10/49 | €4,021,301 | €3,350,990 | -€670,311 | -16.7% |
| Equity | 10/15 | €2,320,280 | €2,379,347 | +€59,066 | +2.5% |
| Contributions | 10/11 | €1,320,000 | €1,320,000 | = | 0.0% |
| Capital | 10 | €1,320,000 | €1,320,000 | = | 0.0% |
| Issued capital | 100 | €1,320,000 | €1,320,000 | = | 0.0% |
| Reserves | 13 | €1,000,280 | €1,059,347 | +€59,066 | +5.9% |
| Non-distributable reserves | 130/1 | €132,992 | €132,992 | = | 0.0% |
| Legal reserve | 130 | €132,000 | €132,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €992 | €992 | = | 0.0% |
| Tax-exempt reserves | 132 | €497,661 | €471,295 | -€26,366 | -5.3% |
| Distributable reserves | 133 | €369,628 | €455,060 | +€85,432 | +23.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €158,127 | €149,338 | -€8,789 | -5.6% |
| Deferred taxes | 168 | €158,127 | €149,338 | -€8,789 | -5.6% |
| Amounts payable | 17/49 | €1,542,894 | €822,305 | -€720,588 | -46.7% |
| Amounts payable after more than one year | 17 | €1,100,000 | €700,000 | -€400,000 | -36.4% |
| Financial debts | 170/4 | €1,100,000 | €700,000 | -€400,000 | -36.4% |
| Amounts payable within one year | 42/48 | €371,127 | €54,301 | -€316,827 | -85.4% |
| Trade debts | 44 | €2,045 | €22,584 | +€20,538 | +1,004% |
| Suppliers | 440/4 | €2,045 | €22,584 | +€20,538 | +1,004% |
| Taxes, remuneration and social security | 45 | €985 | €30,553 | +€29,568 | +3,002% |
| Taxes | 450/3 | €985 | €30,553 | +€29,568 | +3,002% |
| Other amounts payable | 47/48 | €368,097 | €1,164 | -€366,933 | -99.7% |
| Accrued charges and deferred income | 492/3 | €71,766 | €68,005 | -€3,762 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,388 | €92,431 | -€1,958 | -2.1% |
| Other operating charges | 640/8 | €28,674 | €29,573 | +€899 | +3.1% |
| Gross operating margin | 9900 | €205,832 | €206,596 | +€764 | +0.4% |
| Operating profit (loss) | 9901 | €82,770 | €84,593 | +€1,823 | +2.2% |
| Financial income | 75/76B | €52,692 | €41,811 | -€10,882 | -20.7% |
| Recurring financial income | 75 | €52,692 | €41,811 | -€10,882 | -20.7% |
| Financial charges | 65/66B | €18,725 | €33,855 | +€15,130 | +80.8% |
| Recurring financial charges | 65 | €18,725 | €33,855 | +€15,130 | +80.8% |
| Profit (loss) for the period before taxes | 9903 | €116,737 | €92,548 | -€24,189 | -20.7% |
| Transfer from deferred taxes | 780 | €9,348 | €8,789 | -€560 | -6.0% |
| Income taxes | 67/77 | €47,250 | €42,270 | -€4,979 | -10.5% |
| Profit (loss) for the period | 9904 | €78,836 | €59,066 | -€19,769 | -25.1% |
| Transfer from tax-exempt reserves | 789 | €28,045 | €26,366 | -€1,679 | -6.0% |
| Transfer to tax-exempt reserves | 689 | €21,050 | €0 | -€21,050 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €85,830 | €85,432 | -€398 | -0.5% |
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 17 October 2026 via checked.be.