INVESKA: what changed
Two fiscal 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.
What changed
INVESKA
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€247,146
2024 · €6.6m-€6.4m
Equity
€8.3m
2024 · €8.3m+€60,511
Cash
€57,546
2024 · €127,677-€70,131
Balance sheet total
€13.1m
2024 · €12.5m+€570,116
Largest movements
Assets
- Current investments +€308,342
up €308,342 (+3.6%), from €8.5m to €8.8m
Equity and liabilities
- Short-term financial debts +€500,000
up €500,000 (+33.3%), from €1.5m to €2.0m
- Debts after one year -€191,402
down €191,402 (-10.2%), from €1.9m to €1.7m
Income statement
- Financial income -€6.7m
down €6.7m (-91.3%), from €7.4m to €641,929
of which Non-recurring financial income: -€5.5m
- Taxes -€551,266
down €551,266 (-87.0%), from €633,742 to €82,475
- Financial charges +€221,893
up €221,893 (+314.0%), from €70,667 to €292,560
- Gross operating margin +€43,182
up €43,182 (+250.4%), from €17,246 to €60,428
- Other operating charges +€14,226
up €14,226 (+390.3%), from €3,645 to €17,871
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.
Result 2024
€6.6m
Gross operating margin
+€43,182
Depreciation
+€50
Write-downs
-€2,423
Other operating charges
-€14,226
Financial income
-€6.7m
Financial charges
-€221,893
Taxes
+€551,266
Result 2025
€247,146
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.
From operations
+€181,354
Investment
-€374,954
Financing
+€123,470
Cash 2024
€127,677
From operations (derived)
+€181,354
Net result for the year
+€247,146
Depreciation
+€60,828
Receivables after one year
-€110,000
Receivables within one year
-€109,638
Deferred charges and accrued income
-€106,482
Provisions
-€947
Trade debts
+€30,359
Tax, wage and social debts
+€52,869
Other debts
+€108,613
Accrued charges and deferred income
+€8,606
Investment (derived)
-€374,954
Investment in fixed assets (net)
-€66,612
Current investments
-€308,342
Financing
+€123,470
Debts after one year
-€191,402
Current portion of long-term debt
+€1,507
Short-term financial debts
+€500,000
Contributions, distributions and other
-€186,635
Cash 2025
€57,546
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,544,334 | €13,114,450 | +€570,116 | +4.5% |
| Fixed assets | 21/28 | €2,696,644 | €2,702,428 | +€5,784 | +0.2% |
| Tangible fixed assets | 22/27 | €1,405,869 | €1,365,381 | -€40,488 | -2.9% |
| Land and buildings | 22 | €1,342,777 | €1,319,249 | -€23,528 | -1.8% |
| Furniture and vehicles | 24 | €63,092 | €46,131 | -€16,960 | -26.9% |
| Financial fixed assets | 28 | €1,290,776 | €1,337,047 | +€46,272 | +3.6% |
| Current assets | 29/58 | €9,847,690 | €10,412,022 | +€564,332 | +5.7% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,110,000 | +€110,000 | +11.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,110,000 | +€110,000 | +11.0% |
| Amounts receivable within one year | 40/41 | €195,248 | €304,886 | +€109,638 | +56.2% |
| Trade receivables | 40 | €27,020 | €17,495 | -€9,525 | -35.3% |
| Other amounts receivable | 41 | €168,228 | €287,391 | +€119,164 | +70.8% |
| Current investments | 50/53 | €8,524,765 | €8,833,108 | +€308,342 | +3.6% |
| Cash at bank and in hand | 54/58 | €127,677 | €57,546 | -€70,131 | -54.9% |
| Deferred charges and accrued income | 490/1 | - | €106,482 | +€106,482 | |
| Total equity and liabilities | 10/49 | €12,544,334 | €13,114,450 | +€570,116 | +4.5% |
| Equity | 10/15 | €8,285,496 | €8,346,007 | +€60,511 | +0.7% |
| Contributions | 10/11 | €360,000 | €360,000 | = | 0.0% |
| Revaluation surpluses | 12 | €661,401 | €624,765 | -€36,635 | -5.5% |
| Reserves | 13 | €7,264,096 | €7,361,241 | +€97,146 | +1.3% |
| Non-distributable reserves | 130/1 | €4,736 | €0 | -€4,736 | -100.0% |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Other | 1319 | €4,736 | €0 | -€4,736 | -100.0% |
| Tax-exempt reserves | 132 | €107,409 | €103,713 | -€3,696 | -3.4% |
| Distributable reserves | 133 | €7,151,951 | €7,257,529 | +€105,577 | +1.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €14,854 | €13,907 | -€947 | -6.4% |
| Deferred taxes | 168 | €14,854 | €13,907 | -€947 | -6.4% |
| Amounts payable | 17/49 | €4,243,984 | €4,754,537 | +€510,553 | +12.0% |
| Amounts payable after more than one year | 17 | €1,885,102 | €1,693,700 | -€191,402 | -10.2% |
| Financial debts | 170/4 | €1,885,102 | €1,693,700 | -€191,402 | -10.2% |
| Amounts payable within one year | 42/48 | €2,358,882 | €3,052,231 | +€693,349 | +29.4% |
| Current portion of amounts payable after more than one year | 42 | €189,895 | €191,402 | +€1,507 | +0.8% |
| Financial debts | 43 | €1,500,000 | €2,000,000 | +€500,000 | +33.3% |
| Credit institutions | 430/8 | €1,500,000 | €2,000,000 | +€500,000 | +33.3% |
| Trade debts | 44 | €12,856 | €43,215 | +€30,359 | +236.1% |
| Suppliers | 440/4 | €12,856 | €43,215 | +€30,359 | +236.1% |
| Taxes, remuneration and social security | 45 | €614,744 | €667,613 | +€52,869 | +8.6% |
| Taxes | 450/3 | €614,744 | €667,613 | +€52,869 | +8.6% |
| Other amounts payable | 47/48 | €41,387 | €150,000 | +€108,613 | +262.4% |
| Accrued charges and deferred income | 492/3 | - | €8,606 | +€8,606 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,878 | €60,828 | -€50 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,423 | +€2,423 | |
| Other operating charges | 640/8 | €3,645 | €17,871 | +€14,226 | +390.3% |
| Gross operating margin | 9900 | €17,246 | €60,428 | +€43,182 | +250.4% |
| Operating profit (loss) | 9901 | -€47,277 | -€20,695 | +€26,582 | +56.2% |
| Financial income | 75/76B | €7,388,217 | €641,929 | -€6.7m | -91.3% |
| Recurring financial income | 75 | €1,907,581 | €641,929 | -€1.3m | -66.3% |
| Non-recurring financial income | 76B | €5,480,636 | €0 | -€5.5m | -100.0% |
| Financial charges | 65/66B | €70,667 | €292,560 | +€221,893 | +314.0% |
| Recurring financial charges | 65 | €70,667 | €292,560 | +€221,893 | +314.0% |
| Profit (loss) for the period before taxes | 9903 | €7,270,273 | €328,674 | -€6.9m | -95.5% |
| Transfer from deferred taxes | 780 | €947 | €947 | = | 0.0% |
| Income taxes | 67/77 | €633,742 | €82,475 | -€551,266 | -87.0% |
| Profit (loss) for the period | 9904 | €6,637,478 | €247,146 | -€6.4m | -96.3% |
| Transfer from tax-exempt reserves | 789 | €3,696 | €3,696 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,641,174 | €250,841 | -€6.4m | -96.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.