INVEST: 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.
What changed
INVEST
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€16,012
2024 · €28,686-€12,674
Equity
€537,022
2024 · €521,010+€16,012
Cash
€37,917
2024 · €42,302-€4,385
Balance sheet total
€1.6m
2024 · €1.7m-€82,337
Largest movements
Assets
- Receivables after one year -€38,364
down €38,364 (-3.8%), from €1.0m to €978,364
- Tangible fixed assets -€30,552
down €30,552 (-5.8%), from €524,202 to €493,650
of which Land and buildings: -€27,116
Equity and liabilities
- Tax, wage and social debts -€39,388
down €39,388 (-95.4%), from €41,288 to €1,900
- Accrued charges and deferred income -€38,364
down €38,364 (-3.8%), from €1.0m to €978,364
Income statement
- Turnover -€85,580
down €85,580 (-37.1%), from €230,849 to €145,268
- Purchases and services -€72,022
down €72,022 (-42.1%), from €170,966 to €98,945
- Gross operating margin -€12,945
down €12,945 (-16.3%), from €79,561 to €66,616
- Taxes -€4,444
down €4,444 (-44.9%), from €9,902 to €5,458
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
€28,686
Gross operating margin
-€12,945
Depreciation
-€1,653
Other operating charges
-€1,804
Financial charges
-€715
Taxes
+€4,444
Result 2025
€16,012
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
+€12,800
Investment
-€3,716
Financing
-€13,469
Cash 2024
€42,302
From operations (derived)
+€12,800
Net result for the year
+€16,012
Depreciation
+€33,948
Receivables after one year
+€38,364
Receivables within one year
+€9,355
Trade debts
-€322
Tax, wage and social debts
-€39,388
Other debts
-€6,806
Accrued charges and deferred income
-€38,364
Investment (derived)
-€3,716
Investment in fixed assets (net)
-€3,716
Financing
-€13,469
Debts after one year
-€12,970
Current portion of long-term debt
-€499
Cash 2025
€37,917
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,723,502 | €1,641,165 | -€82,337 | -4.8% |
| Fixed assets | 21/28 | €546,349 | €516,117 | -€30,232 | -5.5% |
| Intangible fixed assets | 21 | €8,757 | €4,077 | -€4,680 | -53.4% |
| Tangible fixed assets | 22/27 | €524,202 | €493,650 | -€30,552 | -5.8% |
| Land and buildings | 22 | €516,731 | €489,615 | -€27,116 | -5.2% |
| Plant, machinery and equipment | 23 | €1,095 | €847 | -€248 | -22.6% |
| Furniture and vehicles | 24 | €6,376 | €3,188 | -€3,188 | -50.0% |
| Financial fixed assets | 28 | €13,389 | €18,389 | +€5,000 | +37.3% |
| Current assets | 29/58 | €1,177,153 | €1,125,048 | -€52,105 | -4.4% |
| Amounts receivable after more than one year | 29 | €1,016,728 | €978,364 | -€38,364 | -3.8% |
| Other amounts receivable | 291 | €1,016,728 | €978,364 | -€38,364 | -3.8% |
| Amounts receivable within one year | 40/41 | €118,122 | €108,767 | -€9,355 | -7.9% |
| Trade receivables | 40 | €14,038 | €5,875 | -€8,163 | -58.2% |
| Other amounts receivable | 41 | €104,084 | €102,892 | -€1,192 | -1.1% |
| Cash at bank and in hand | 54/58 | €42,302 | €37,917 | -€4,385 | -10.4% |
| Total equity and liabilities | 10/49 | €1,723,502 | €1,641,165 | -€82,337 | -4.8% |
| Equity | 10/15 | €521,010 | €537,022 | +€16,012 | +3.1% |
| Contributions | 10/11 | €30,986 | €30,986 | = | 0.0% |
| Revaluation surpluses | 12 | €307,500 | €307,500 | = | 0.0% |
| Reserves | 13 | €61,622 | €61,622 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,100 | €3,100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,100 | €3,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,423 | €26,423 | = | 0.0% |
| Distributable reserves | 133 | €32,099 | €32,099 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,902 | €136,914 | +€16,012 | +13.2% |
| Amounts payable | 17/49 | €1,202,492 | €1,104,143 | -€98,349 | -8.2% |
| Amounts payable after more than one year | 17 | €87,680 | €74,710 | -€12,970 | -14.8% |
| Financial debts | 170/4 | €87,680 | €74,710 | -€12,970 | -14.8% |
| Amounts payable within one year | 42/48 | €98,084 | €51,069 | -€47,015 | -47.9% |
| Current portion of amounts payable after more than one year | 42 | €11,622 | €11,123 | -€499 | -4.3% |
| Trade debts | 44 | €29,058 | €28,736 | -€322 | -1.1% |
| Suppliers | 440/4 | €29,058 | €28,736 | -€322 | -1.1% |
| Taxes, remuneration and social security | 45 | €41,288 | €1,900 | -€39,388 | -95.4% |
| Taxes | 450/3 | €41,288 | €1,900 | -€39,388 | -95.4% |
| Other amounts payable | 47/48 | €16,117 | €9,311 | -€6,806 | -42.2% |
| Accrued charges and deferred income | 492/3 | €1,016,728 | €978,364 | -€38,364 | -3.8% |
| Turnover | 70 | €230,849 | €145,268 | -€85,580 | -37.1% |
| Non-recurring operating income | 76A | - | €563 | +€563 | |
| Goods, raw materials, services and sundry goods | 60/61 | €170,966 | €98,945 | -€72,022 | -42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,295 | €33,948 | +€1,653 | +5.1% |
| Other operating charges | 640/8 | €4,298 | €6,102 | +€1,804 | +42.0% |
| Gross operating margin | 9900 | €79,561 | €66,616 | -€12,945 | -16.3% |
| Operating profit (loss) | 9901 | €42,968 | €26,566 | -€16,402 | -38.2% |
| Financial charges | 65/66B | €4,380 | €5,096 | +€715 | +16.3% |
| Recurring financial charges | 65 | €4,380 | €5,096 | +€715 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €38,587 | €21,470 | -€17,118 | -44.4% |
| Income taxes | 67/77 | €9,902 | €5,458 | -€4,444 | -44.9% |
| Profit (loss) for the period | 9904 | €28,686 | €16,012 | -€12,674 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €28,686 | €16,012 | -€12,674 | -44.2% |
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 12 October 2026 via checked.be.