INVERSIO: 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.
INVERSIO
Largest movements
- Tangible fixed assets +€275,653
up €275,653 (+186.7%), from €147,635 to €423,288
of which Land and buildings: +€288,274
- Receivables within one year +€44,444
up €44,444 (+319.8%), from €13,899 to €58,343
of which Other amounts receivable: +€42,849
- Cash -€37,597
down €37,597 (-100.0%), from €37,600 to €3
mainly Investment in fixed assets (net) (-€289,768) and Receivables within one year (-€44,444)
- Debts after one year +€223,959
up €223,959 (+125.2%), from €178,898 to €402,856
- Contributions +€20,000
up €20,000 (+107.5%), from €18,600 to €38,600
- Profit (loss) carried forward +€17,091
up €17,091 (+10.3%), from -€165,318 to -€148,227
- Current portion of long-term debt +€13,928
up €13,928 (+106.0%), from €13,141 to €27,069
- Short-term financial debts +€6,347
new in 2025: €6,347
- Gross operating margin -€13,143
down €13,143 (-24.2%), from €54,378 to €41,235
- Depreciation +€848
up €848 (+6.4%), from €13,266 to €14,115
- Other operating charges -€711
down €711 (-18.2%), from €3,903 to €3,191
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 | €199,133 | €483,733 | +€284,600 | +142.9% |
| Fixed assets | 21/28 | €147,635 | €423,288 | +€275,653 | +186.7% |
| Tangible fixed assets | 22/27 | €147,635 | €423,288 | +€275,653 | +186.7% |
| Land and buildings | 22 | - | €288,274 | +€288,274 | |
| Plant, machinery and equipment | 23 | €3,543 | €3,543 | = | 0.0% |
| Other tangible fixed assets | 26 | €144,091 | €131,470 | -€12,621 | -8.8% |
| Current assets | 29/58 | €51,499 | €60,445 | +€8,946 | +17.4% |
| Amounts receivable within one year | 40/41 | €13,899 | €58,343 | +€44,444 | +319.8% |
| Trade receivables | 40 | €13,748 | €15,343 | +€1,595 | +11.6% |
| Other amounts receivable | 41 | €151 | €43,000 | +€42,849 | +28397.6% |
| Cash at bank and in hand | 54/58 | €37,600 | €3 | -€37,597 | -100.0% |
| Deferred charges and accrued income | 490/1 | €0 | €2,099 | +€2,099 | |
| Total equity and liabilities | 10/49 | €199,133 | €483,733 | +€284,600 | +142.9% |
| Equity | 10/15 | -€146,718 | -€109,627 | +€37,091 | +25.3% |
| Contributions | 10/11 | €18,600 | €38,600 | +€20,000 | +107.5% |
| Profit (loss) carried forward | 14 | -€165,318 | -€148,227 | +€17,091 | +10.3% |
| Amounts payable | 17/49 | €345,852 | €593,360 | +€247,509 | +71.6% |
| Amounts payable after more than one year | 17 | €178,898 | €402,856 | +€223,959 | +125.2% |
| Financial debts | 170/4 | €178,898 | €402,856 | +€223,959 | +125.2% |
| Amounts payable within one year | 42/48 | €166,471 | €190,055 | +€23,584 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €13,141 | €27,069 | +€13,928 | +106.0% |
| Financial debts | 43 | - | €6,347 | +€6,347 | |
| Credit institutions | 430/8 | - | €6,347 | +€6,347 | |
| Trade debts | 44 | €13,239 | €14,438 | +€1,199 | +9.1% |
| Suppliers | 440/4 | €13,239 | €14,438 | +€1,199 | +9.1% |
| Taxes, remuneration and social security | 45 | €4,520 | €6,436 | +€1,917 | +42.4% |
| Taxes | 450/3 | €4,520 | €4,036 | -€483 | -10.7% |
| Remuneration and social security | 454/9 | - | €2,400 | +€2,400 | |
| Other amounts payable | 47/48 | €135,571 | €135,765 | +€194 | +0.1% |
| Accrued charges and deferred income | 492/3 | €483 | €449 | -€34 | -7.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,266 | €14,115 | +€848 | +6.4% |
| Other operating charges | 640/8 | €3,903 | €3,191 | -€711 | -18.2% |
| Gross operating margin | 9900 | €54,378 | €41,235 | -€13,143 | -24.2% |
| Operating profit (loss) | 9901 | €37,209 | €23,929 | -€13,280 | -35.7% |
| Financial income | 75/76B | €136 | €233 | +€97 | +71.6% |
| Recurring financial income | 75 | €136 | €233 | +€97 | +71.6% |
| Financial charges | 65/66B | €6,854 | €6,871 | +€17 | +0.2% |
| Recurring financial charges | 65 | €6,854 | €6,871 | +€17 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €30,491 | €17,291 | -€13,200 | -43.3% |
| Income taxes | 67/77 | €80 | €200 | +€120 | +151.2% |
| Profit (loss) for the period | 9904 | €30,411 | €17,091 | -€13,320 | -43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,411 | €17,091 | -€13,320 | -43.8% |
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 11 October 2026 via checked.be.