INVESQO: 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.
INVESQO
Largest movements
- Intangible fixed assets -€61,500
down €61,500 (-10.5%), from €582,985 to €521,485
- Receivables within one year +€42,730
up €42,730 (+63.2%), from €67,564 to €110,294
of which Trade receivables: +€44,516
- Cash +€28,325
up €28,325 (+214%), from €13,238 to €41,563
mainly Net result for the year (+€136,542) and Depreciation (+€73,784)
- Tangible fixed assets -€25,974
down €25,974 (-57.1%), from €45,474 to €19,500
of which Furniture and vehicles: -€22,856
- Profit (loss) carried forward +€136,542
up €136,542 (+53.0%), from -€257,550 to -€121,008
- Debts after one year -€88,000
down €88,000 (-12.9%), from €682,000 to €594,000
- Trade debts -€62,219
down €62,219 (-48.3%), from €128,698 to €66,479
- Accrued charges and deferred income -€8,775
down €8,775 (-39.8%), from €22,073 to €13,298
- Gross operating margin +€549,227
up €549,227, from -€107,758 to €441,469
- Staff costs +€107,463
up €107,463 (+120%), from €89,377 to €196,840
- Depreciation +€35,390
up €35,390 (+92.2%), from €38,394 to €73,784
- Financial charges +€9,414
up €9,414 (+48.0%), from €19,612 to €29,026
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 | €712,438 | €696,372 | -€16,065 | -2.3% |
| Fixed assets | 21/28 | €628,459 | €540,985 | -€87,474 | -13.9% |
| Intangible fixed assets | 21 | €582,985 | €521,485 | -€61,500 | -10.5% |
| Tangible fixed assets | 22/27 | €45,474 | €19,500 | -€25,974 | -57.1% |
| Plant, machinery and equipment | 23 | €7,662 | €4,545 | -€3,118 | -40.7% |
| Furniture and vehicles | 24 | €37,811 | €14,955 | -€22,856 | -60.4% |
| Current assets | 29/58 | €83,979 | €155,387 | +€71,408 | +85.0% |
| Amounts receivable within one year | 40/41 | €67,564 | €110,294 | +€42,730 | +63.2% |
| Trade receivables | 40 | €55,221 | €99,737 | +€44,516 | +80.6% |
| Other amounts receivable | 41 | €12,342 | €10,557 | -€1,785 | -14.5% |
| Cash at bank and in hand | 54/58 | €13,238 | €41,563 | +€28,325 | +214% |
| Deferred charges and accrued income | 490/1 | €3,177 | €3,530 | +€353 | +11.1% |
| Total equity and liabilities | 10/49 | €712,438 | €696,372 | -€16,065 | -2.3% |
| Equity | 10/15 | -€233,550 | -€97,008 | +€136,542 | +58.5% |
| Contributions | 10/11 | €24,000 | €24,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€257,550 | -€121,008 | +€136,542 | +53.0% |
| Amounts payable | 17/49 | €945,988 | €793,381 | -€152,607 | -16.1% |
| Amounts payable after more than one year | 17 | €682,000 | €594,000 | -€88,000 | -12.9% |
| Financial debts | 170/4 | €682,000 | €594,000 | -€88,000 | -12.9% |
| Amounts payable within one year | 42/48 | €241,915 | €186,082 | -€55,832 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €88,000 | €88,000 | = | 0.0% |
| Trade debts | 44 | €128,698 | €66,479 | -€62,219 | -48.3% |
| Suppliers | 440/4 | €128,698 | €66,479 | -€62,219 | -48.3% |
| Taxes, remuneration and social security | 45 | €25,217 | €30,411 | +€5,194 | +20.6% |
| Taxes | 450/3 | €4,261 | €5,677 | +€1,416 | +33.2% |
| Remuneration and social security | 454/9 | €20,956 | €24,734 | +€3,778 | +18.0% |
| Other amounts payable | 47/48 | - | €1,192 | +€1,192 | |
| Accrued charges and deferred income | 492/3 | €22,073 | €13,298 | -€8,775 | -39.8% |
| Remuneration, social security and pensions | 62 | €89,377 | €196,840 | +€107,463 | +120% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,394 | €73,784 | +€35,390 | +92.2% |
| Other operating charges | 640/8 | €2,211 | €5,336 | +€3,126 | +141% |
| Gross operating margin | 9900 | -€107,758 | €441,469 | +€549,227 | |
| Operating profit (loss) | 9901 | -€237,740 | €165,508 | +€403,248 | |
| Financial income | 75/76B | €0 | €557 | +€557 | +5,569,900% |
| Recurring financial income | 75 | €0 | €557 | +€557 | +5,569,900% |
| Financial charges | 65/66B | €19,612 | €29,026 | +€9,414 | +48.0% |
| Recurring financial charges | 65 | €19,612 | €29,026 | +€9,414 | +48.0% |
| Profit (loss) for the period before taxes | 9903 | -€257,352 | €137,039 | +€394,391 | |
| Income taxes | 67/77 | €198 | €497 | +€299 | +150% |
| Profit (loss) for the period | 9904 | -€257,550 | €136,542 | +€394,092 | |
| Profit (loss) for the period to be appropriated | 9905 | -€257,550 | €136,542 | +€394,092 |
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 25 October 2026 via checked.be.