INVERMA: 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.
INVERMA
Largest movements
- Tangible fixed assets -€30,510
down €30,510 (-7.0%), from €433,583 to €403,072
of which Leasing and similar rights: -€70,989
- Receivables within one year +€28,598
up €28,598 (+74.4%), from €38,421 to €67,018
of which Trade receivables: +€25,823
- Cash -€24,213
down €24,213 (-31.9%), from €75,847 to €51,634
mainly Investment in fixed assets (net) (-€88,399) and Debts after one year (-€83,222)
- Deferred charges and accrued income -€12,339
down €12,339 (-50.3%), from €24,546 to €12,206
- Debts after one year -€83,222
down €83,222 (-34.9%), from €238,475 to €155,253
- Reserves +€35,645
up €35,645 (+20.7%), from €171,855 to €207,500
of which Distributable reserves: +€35,645
- Other debts +€20,212
up €20,212 (+369%), from €5,471 to €25,683
- Current portion of long-term debt -€10,116
down €10,116 (-11.4%), from €88,769 to €78,652
- Trade debts -€5,825
down €5,825 (-13.1%), from €44,449 to €38,624
- Gross operating margin +€51,391
up €51,391 (+29.7%), from €173,320 to €224,711
- Depreciation +€34,303
up €34,303 (+40.5%), from €84,606 to €118,909
- Taxes +€19,929
up €19,929 (+527%), from €3,779 to €23,708
- Write-downs -€3,208
down €3,208, from €2,510 to -€698
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 | €572,396 | €533,931 | -€38,465 | -6.7% |
| Fixed assets | 21/28 | €433,583 | €403,072 | -€30,510 | -7.0% |
| Tangible fixed assets | 22/27 | €433,583 | €403,072 | -€30,510 | -7.0% |
| Plant, machinery and equipment | 23 | €57,961 | €107,234 | +€49,272 | +85.0% |
| Furniture and vehicles | 24 | €11,054 | €2,260 | -€8,794 | -79.6% |
| Leasing and similar rights | 25 | €364,567 | €293,578 | -€70,989 | -19.5% |
| Current assets | 29/58 | €138,813 | €130,859 | -€7,954 | -5.7% |
| Amounts receivable within one year | 40/41 | €38,421 | €67,018 | +€28,598 | +74.4% |
| Trade receivables | 40 | €28,903 | €54,727 | +€25,823 | +89.3% |
| Other amounts receivable | 41 | €9,517 | €12,292 | +€2,775 | +29.2% |
| Cash at bank and in hand | 54/58 | €75,847 | €51,634 | -€24,213 | -31.9% |
| Deferred charges and accrued income | 490/1 | €24,546 | €12,206 | -€12,339 | -50.3% |
| Total equity and liabilities | 10/49 | €572,396 | €533,931 | -€38,465 | -6.7% |
| Equity | 10/15 | €190,691 | €226,486 | +€35,795 | +18.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €171,855 | €207,500 | +€35,645 | +20.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €171,855 | €207,500 | +€35,645 | +20.7% |
| Profit (loss) carried forward | 14 | €286 | €436 | +€150 | +52.4% |
| Amounts payable | 17/49 | €381,705 | €307,445 | -€74,260 | -19.5% |
| Amounts payable after more than one year | 17 | €238,475 | €155,253 | -€83,222 | -34.9% |
| Financial debts | 170/4 | €238,475 | €155,253 | -€83,222 | -34.9% |
| Amounts payable within one year | 42/48 | €138,689 | €146,329 | +€7,641 | +5.5% |
| Current portion of amounts payable after more than one year | 42 | €88,769 | €78,652 | -€10,116 | -11.4% |
| Trade debts | 44 | €44,449 | €38,624 | -€5,825 | -13.1% |
| Suppliers | 440/4 | €44,449 | €38,624 | -€5,825 | -13.1% |
| Taxes, remuneration and social security | 45 | €0 | €3,370 | +€3,370 | |
| Taxes | 450/3 | €0 | €3,370 | +€3,370 | |
| Other amounts payable | 47/48 | €5,471 | €25,683 | +€20,212 | +369% |
| Accrued charges and deferred income | 492/3 | €4,541 | €5,863 | +€1,322 | +29.1% |
| Non-recurring operating income | 76A | €22,358 | €1,653 | -€20,705 | -92.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,606 | €118,909 | +€34,303 | +40.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,510 | -€698 | -€3,208 | |
| Other operating charges | 640/8 | €743 | €857 | +€114 | +15.3% |
| Non-recurring operating charges | 66A | €14,491 | - | -€14,491 | |
| Gross operating margin | 9900 | €173,320 | €224,711 | +€51,391 | +29.7% |
| Operating profit (loss) | 9901 | €70,970 | €105,643 | +€34,673 | +48.9% |
| Financial income | 75/76B | €679 | €196 | -€483 | -71.2% |
| Recurring financial income | 75 | €679 | €196 | -€483 | -71.2% |
| Financial charges | 65/66B | €10,159 | €11,335 | +€1,177 | +11.6% |
| Recurring financial charges | 65 | €10,159 | €11,335 | +€1,177 | +11.6% |
| Profit (loss) for the period before taxes | 9903 | €61,490 | €94,503 | +€33,013 | +53.7% |
| Income taxes | 67/77 | €3,779 | €23,708 | +€19,929 | +527% |
| Profit (loss) for the period | 9904 | €57,710 | €70,795 | +€13,085 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €57,710 | €70,795 | +€13,085 | +22.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.