INVEST A.M.: what changed
INVEST A.M.
Largest movements
- Tangible fixed assets -€22,371
down €22,371 (-19.4%), from €115,404 to €93,033
of which Land and buildings: -€14,537
- Cash -€17,863
down €17,863 (-49.8%), from €35,889 to €18,026
mainly Other debts (-€19,247) and Receivables within one year (-€14,986)
- Receivables within one year +€14,986
up €14,986 (+1,878%), from €798 to €15,784
of which Trade receivables: +€15,475
- Other debts -€19,247
down €19,247 (-28.8%), from €66,764 to €47,517
- Advances received +€19,099
new in 2025: €19,099
- Debts after one year -€12,178
down €12,178 (-24.7%), from €49,382 to €37,204
- Profit (loss) carried forward -€6,566
down €6,566 (-48.6%), from -€13,506 to -€20,072
- Reserves -€4,313
down €4,313 (-27.3%), from €15,814 to €11,501
- Gross operating margin -€85,293
down €85,293 (-80.8%), from €105,593 to €20,300
- Depreciation +€6,587
up €6,587 (+33.1%), from €19,888 to €26,476
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 | €152,091 | €126,843 | -€25,248 | -16.6% |
| Fixed assets | 21/28 | €115,404 | €93,033 | -€22,371 | -19.4% |
| Tangible fixed assets | 22/27 | €115,404 | €93,033 | -€22,371 | -19.4% |
| Land and buildings | 22 | €64,217 | €49,680 | -€14,537 | -22.6% |
| Furniture and vehicles | 24 | €51,187 | €43,353 | -€7,833 | -15.3% |
| Current assets | 29/58 | €36,687 | €33,810 | -€2,877 | -7.8% |
| Amounts receivable within one year | 40/41 | €798 | €15,784 | +€14,986 | +1,878% |
| Trade receivables | 40 | €309 | €15,784 | +€15,475 | +5,005% |
| Other amounts receivable | 41 | €489 | - | -€489 | |
| Cash at bank and in hand | 54/58 | €35,889 | €18,026 | -€17,863 | -49.8% |
| Total equity and liabilities | 10/49 | €152,091 | €126,843 | -€25,248 | -16.6% |
| Equity | 10/15 | €14,702 | €3,824 | -€10,879 | -74.0% |
| Contributions | 10/11 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €15,814 | €11,501 | -€4,313 | -27.3% |
| Tax-exempt reserves | 132 | €15,814 | €11,501 | -€4,313 | -27.3% |
| Profit (loss) carried forward | 14 | -€13,506 | -€20,072 | -€6,566 | -48.6% |
| Provisions and deferred taxes | 16 | €8,143 | €5,923 | -€2,221 | -27.3% |
| Provisions for liabilities and charges | 160/5 | €8,143 | €5,923 | -€2,221 | -27.3% |
| Taxes | 161 | €8,143 | €5,923 | -€2,221 | -27.3% |
| Amounts payable | 17/49 | €129,245 | €117,096 | -€12,149 | -9.4% |
| Amounts payable after more than one year | 17 | €49,382 | €37,204 | -€12,178 | -24.7% |
| Financial debts | 170/4 | €49,382 | €37,204 | -€12,178 | -24.7% |
| Amounts payable within one year | 42/48 | €79,863 | €79,892 | +€29 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €11,477 | €12,178 | +€701 | +6.1% |
| Trade debts | 44 | €469 | - | -€469 | |
| Suppliers | 440/4 | €469 | - | -€469 | |
| Advances received on contracts in progress | 46 | - | €19,099 | +€19,099 | |
| Taxes, remuneration and social security | 45 | €1,153 | €1,099 | -€54 | -4.7% |
| Taxes | 450/3 | €1,153 | €1,099 | -€54 | -4.7% |
| Other amounts payable | 47/48 | €66,764 | €47,517 | -€19,247 | -28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,888 | €26,476 | +€6,587 | +33.1% |
| Other operating charges | 640/8 | €3,183 | €3,145 | -€38 | -1.2% |
| Gross operating margin | 9900 | €105,593 | €20,300 | -€85,293 | -80.8% |
| Operating profit (loss) | 9901 | €82,522 | -€9,320 | -€91,842 | |
| Financial income | 75/76B | €1 | €58 | +€57 | +7,636% |
| Recurring financial income | 75 | €1 | €58 | +€57 | +7,636% |
| Financial charges | 65/66B | €4,448 | €3,675 | -€773 | -17.4% |
| Recurring financial charges | 65 | €4,448 | €3,675 | -€773 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €78,075 | -€12,937 | -€91,012 | |
| Transfer from deferred taxes | 780 | €2,221 | €2,221 | = | 0.0% |
| Income taxes | 67/77 | €199 | €162 | -€37 | -18.6% |
| Profit (loss) for the period | 9904 | €80,096 | -€10,879 | -€90,975 | |
| Transfer from tax-exempt reserves | 789 | €4,313 | €4,313 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €84,409 | -€6,566 | -€90,975 |
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 7 November 2026 via checked.be.