INVEST CS: 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.
INVEST CS
Largest movements
- Tangible fixed assets -€39,198
down €39,198 (-7.6%), from €512,414 to €473,215
- Cash -€7,061
down €7,061 (-85.7%), from €8,241 to €1,180
mainly Net result for the year (-€73,764) and Trade debts (-€22,631)
- Profit (loss) carried forward -€73,764
down €73,764 (-8.2%), from -€902,045 to -€975,809
- Other debts +€70,245
up €70,245 (+9.0%), from €784,344 to €854,589
- Trade debts -€22,631
down €22,631 (-66.8%), from €33,882 to €11,251
- Debts after one year -€18,127
down €18,127 (-19.4%), from €93,646 to €75,519
- Financial income +€4,396
new in 2025: €4,396
of which Financial income: +€4,396
- Depreciation -€4,259
down €4,259 (-9.8%), from €43,457 to €39,198
- Financial charges +€1,398
up €1,398 (+8.6%), from €16,316 to €17,715
- Other operating charges +€888
up €888 (+4.8%), from €18,626 to €19,514
- Gross operating margin -€538
down €538 (-45.1%), from -€1,194 to -€1,732
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 | €528,603 | €480,222 | -€48,381 | -9.2% |
| Fixed assets | 21/28 | €512,414 | €473,215 | -€39,198 | -7.6% |
| Tangible fixed assets | 22/27 | €512,414 | €473,215 | -€39,198 | -7.6% |
| Land and buildings | 22 | €512,414 | €473,215 | -€39,198 | -7.6% |
| Current assets | 29/58 | €16,189 | €7,007 | -€9,183 | -56.7% |
| Amounts receivable within one year | 40/41 | €7,948 | €5,827 | -€2,121 | -26.7% |
| Trade receivables | 40 | €6,966 | €4,845 | -€2,121 | -30.5% |
| Other amounts receivable | 41 | €983 | €983 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €8,241 | €1,180 | -€7,061 | -85.7% |
| Total equity and liabilities | 10/49 | €528,603 | €480,222 | -€48,381 | -9.2% |
| Equity | 10/15 | -€625,499 | -€699,263 | -€73,764 | -11.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €270,346 | €270,346 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€902,045 | -€975,809 | -€73,764 | -8.2% |
| Amounts payable | 17/49 | €1,154,102 | €1,179,485 | +€25,383 | +2.2% |
| Amounts payable after more than one year | 17 | €93,646 | €75,519 | -€18,127 | -19.4% |
| Financial debts | 170/4 | €93,646 | €75,519 | -€18,127 | -19.4% |
| Amounts payable within one year | 42/48 | €1,060,456 | €1,103,966 | +€43,510 | +4.1% |
| Current portion of amounts payable after more than one year | 42 | €22,231 | €18,127 | -€4,104 | -18.5% |
| Financial debts | 43 | €220,000 | €220,000 | = | 0.0% |
| Credit institutions | 430/8 | €220,000 | €220,000 | = | 0.0% |
| Trade debts | 44 | €33,882 | €11,251 | -€22,631 | -66.8% |
| Suppliers | 440/4 | €33,882 | €11,251 | -€22,631 | -66.8% |
| Other amounts payable | 47/48 | €784,344 | €854,589 | +€70,245 | +9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,457 | €39,198 | -€4,259 | -9.8% |
| Other operating charges | 640/8 | €18,626 | €19,514 | +€888 | +4.8% |
| Gross operating margin | 9900 | -€1,194 | -€1,732 | -€538 | -45.1% |
| Operating profit (loss) | 9901 | -€63,277 | -€60,445 | +€2,832 | +4.5% |
| Financial income | 75/76B | - | €4,396 | +€4,396 | |
| Recurring financial income | 75 | - | €4,396 | +€4,396 | |
| Non-recurring financial income | 76B | - | €4,396 | +€4,396 | |
| Financial charges | 65/66B | €16,316 | €17,715 | +€1,398 | +8.6% |
| Recurring financial charges | 65 | €16,316 | €17,715 | +€1,398 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | -€79,593 | -€73,764 | +€5,830 | +7.3% |
| Profit (loss) for the period | 9904 | -€79,593 | -€73,764 | +€5,830 | +7.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,593 | -€73,764 | +€5,830 | +7.3% |
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 28 October 2026 via checked.be.