INVEST 13: what changed
INVEST 13
Largest movements
- Tangible fixed assets -€5,181
down €5,181 (-4.9%), from €106,503 to €101,323
of which Land and buildings: -€4,346
- Receivables within one year +€2,730
up €2,730 (+86.8%), from €3,143 to €5,873
of which Trade receivables: +€2,529
- Deferred charges and accrued income -€2,278
no longer reported in 2025 (was €2,278)
- Debts after one year -€19,717
no longer reported in 2025 (was €19,717)
- Current portion of long-term debt +€6,731
new in 2025: €6,731
- Profit (loss) carried forward +€6,246
up €6,246 (+9.1%), from -€68,459 to -€62,213
- Other debts +€1,350
up €1,350 (+1.2%), from €116,912 to €118,262
- Gross operating margin +€4,554
up €4,554 (+41.6%), from €10,950 to €15,504
- Financial charges -€612
down €612 (-46.3%), from €1,322 to €710
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,903 | €107,512 | -€5,391 | -4.8% |
| Formation expenses | 20 | €665 | - | -€665 | |
| Fixed assets | 21/28 | €106,503 | €101,323 | -€5,181 | -4.9% |
| Tangible fixed assets | 22/27 | €106,503 | €101,323 | -€5,181 | -4.9% |
| Land and buildings | 22 | €101,497 | €97,151 | -€4,346 | -4.3% |
| Other tangible fixed assets | 26 | €5,006 | €4,172 | -€834 | -16.7% |
| Current assets | 29/58 | €5,735 | €6,189 | +€455 | +7.9% |
| Amounts receivable within one year | 40/41 | €3,143 | €5,873 | +€2,730 | +86.8% |
| Trade receivables | 40 | €3,143 | €5,672 | +€2,529 | +80.5% |
| Other amounts receivable | 41 | - | €201 | +€201 | |
| Cash at bank and in hand | 54/58 | €314 | €316 | +€3 | +0.9% |
| Deferred charges and accrued income | 490/1 | €2,278 | - | -€2,278 | |
| Total equity and liabilities | 10/49 | €112,903 | €107,512 | -€5,391 | -4.8% |
| Equity | 10/15 | -€23,726 | -€17,481 | +€6,246 | +26.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Contributions outside capital | 11 | €25,000 | €25,000 | = | 0.0% |
| Other | 1109/19 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €19,733 | €19,733 | = | 0.0% |
| Distributable reserves | 133 | €19,733 | €19,733 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,459 | -€62,213 | +€6,246 | +9.1% |
| Amounts payable | 17/49 | €136,629 | €124,993 | -€11,636 | -8.5% |
| Amounts payable after more than one year | 17 | €19,717 | - | -€19,717 | |
| Financial debts | 170/4 | €19,717 | - | -€19,717 | |
| Amounts payable within one year | 42/48 | €116,912 | €124,993 | +€8,081 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,731 | +€6,731 | |
| Other amounts payable | 47/48 | €116,912 | €118,262 | +€1,350 | +1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,906 | €5,845 | -€60 | -1.0% |
| Other operating charges | 640/8 | €2,784 | €2,705 | -€79 | -2.8% |
| Gross operating margin | 9900 | €10,950 | €15,504 | +€4,554 | +41.6% |
| Operating profit (loss) | 9901 | €2,260 | €6,954 | +€4,693 | +208% |
| Financial income | 75/76B | €9 | €2 | -€7 | -77.9% |
| Recurring financial income | 75 | €9 | €2 | -€7 | -77.9% |
| Financial charges | 65/66B | €1,322 | €710 | -€612 | -46.3% |
| Recurring financial charges | 65 | €1,322 | €710 | -€612 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €947 | €6,246 | +€5,298 | +559% |
| Profit (loss) for the period | 9904 | €947 | €6,246 | +€5,298 | +559% |
| Profit (loss) for the period to be appropriated | 9905 | €947 | €6,246 | +€5,298 | +559% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.