INVEST DV: what changed
What changed
INVEST DV
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
-€279,041
2024 · -€272,308-€6,733
Equity
€3.7m
2024 · €3.9m-€260,291
Cash
€129,323
2024 · €31,629+€97,694
Balance sheet total
€5.1m
2024 · €5.5m-€398,313
Largest movements
Assets
- Financial fixed assets -€277,130
down €277,130 (-83.6%), from €331,616 to €54,486
- Tangible fixed assets -€231,490
down €231,490 (-5.0%), from €4.6m to €4.4m
of which Land and buildings: -€177,039
- Cash +€97,694
up €97,694 (+309%), from €31,629 to €129,323
mainly Depreciation (+€260,178) and Investment in fixed assets (net) (+€224,277)
Equity and liabilities
- Other debts -€198,373
down €198,373 (-41.3%), from €480,182 to €281,809
- Profit (loss) carried forward -€161,634
down €161,634 (-300%), from -€53,935 to -€215,569
- Revaluation surpluses -€102,300
down €102,300 (-5.3%), from €1.9m to €1.8m
- Debts after one year +€77,293
up €77,293 (+8.3%), from €932,458 to €1.0m
Income statement
- Financial charges -€29,554
down €29,554 (-72.6%), from €40,680 to €11,127
- Gross operating margin -€20,655
down €20,655 (-81.5%), from €25,357 to €4,702
- Depreciation +€6,393
up €6,393 (+2.5%), from €253,785 to €260,178
- Financial income -€5,122
down €5,122 (-99.9%), from €5,125 to €4
- Other operating charges +€4,129
up €4,129 (+31.3%), from €13,203 to €17,332
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.
Result 2024
-€272,308
Gross operating margin
-€20,655
Depreciation
-€6,393
Other operating charges
-€4,129
Financial income
-€5,122
Financial charges
+€29,554
Taxes
+€12
Result 2025
-€279,041
raises the resultlowers the result
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.
From operations
-€222,626
Investment
+€224,277
Financing
+€96,043
Cash 2024
€31,629
From operations (derived)
-€222,626
Net result for the year
-€279,041
Depreciation
+€260,178
Stocks and contracts
-€28,673
Receivables within one year
+€42,425
Deferred charges and accrued income
-€2,200
Provisions
-€5,036
Trade debts
-€3,619
Tax, wage and social debts
+€2,071
Other debts
-€198,373
Accrued charges and deferred income
-€10,358
Investment (derived)
+€224,277
Investment in fixed assets (net)
+€224,277
Financing
+€96,043
Debts after one year
+€77,293
Contributions, distributions and other
+€18,750
Cash 2025
€129,323
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,485,876 | €5,087,563 | -€398,313 | -7.3% |
| Fixed assets | 21/28 | €4,937,521 | €4,453,067 | -€484,455 | -9.8% |
| Intangible fixed assets | 21 | - | €24,165 | +€24,165 | |
| Tangible fixed assets | 22/27 | €4,605,905 | €4,374,416 | -€231,490 | -5.0% |
| Land and buildings | 22 | €3,619,502 | €3,442,463 | -€177,039 | -4.9% |
| Plant, machinery and equipment | 23 | €1,196 | €602 | -€595 | -49.7% |
| Furniture and vehicles | 24 | €10,839 | €17,903 | +€7,064 | +65.2% |
| Other tangible fixed assets | 26 | €974,367 | €913,447 | -€60,920 | -6.3% |
| Financial fixed assets | 28 | €331,616 | €54,486 | -€277,130 | -83.6% |
| Current assets | 29/58 | €548,355 | €634,497 | +€86,142 | +15.7% |
| Stocks and contracts in progress | 3 | €401,756 | €430,429 | +€28,673 | +7.1% |
| Stocks | 30/36 | €401,756 | €430,429 | +€28,673 | +7.1% |
| Amounts receivable within one year | 40/41 | €107,122 | €64,697 | -€42,425 | -39.6% |
| Other amounts receivable | 41 | €107,122 | €64,697 | -€42,425 | -39.6% |
| Cash at bank and in hand | 54/58 | €31,629 | €129,323 | +€97,694 | +309% |
| Deferred charges and accrued income | 490/1 | €7,849 | €10,048 | +€2,200 | +28.0% |
| Total equity and liabilities | 10/49 | €5,485,876 | €5,087,563 | -€398,313 | -7.3% |
| Equity | 10/15 | €3,930,952 | €3,670,661 | -€260,291 | -6.6% |
| Contributions | 10/11 | €1,734,669 | €1,734,669 | = | 0.0% |
| Capital | 10 | €1,734,669 | €1,734,669 | = | 0.0% |
| Issued capital | 100 | €1,734,669 | €1,734,669 | = | 0.0% |
| Revaluation surpluses | 12 | €1,943,700 | €1,841,400 | -€102,300 | -5.3% |
| Reserves | 13 | €306,518 | €310,161 | +€3,643 | +1.2% |
| Non-distributable reserves | 130/1 | €30,070 | €30,070 | = | 0.0% |
| Legal reserve | 130 | €30,070 | €30,070 | = | 0.0% |
| Tax-exempt reserves | 132 | €276,449 | €280,091 | +€3,643 | +1.3% |
| Profit (loss) carried forward | 14 | -€53,935 | -€215,569 | -€161,634 | -300% |
| Provisions and deferred taxes | 16 | €92,150 | €87,114 | -€5,036 | -5.5% |
| Deferred taxes | 168 | €92,150 | €87,114 | -€5,036 | -5.5% |
| Amounts payable | 17/49 | €1,462,775 | €1,329,788 | -€132,987 | -9.1% |
| Amounts payable after more than one year | 17 | €932,458 | €1,009,751 | +€77,293 | +8.3% |
| Financial debts | 170/4 | €932,458 | €1,009,751 | +€77,293 | +8.3% |
| Amounts payable within one year | 42/48 | €512,097 | €312,176 | -€199,921 | -39.0% |
| Current portion of amounts payable after more than one year | 42 | €22,707 | €22,707 | = | 0.0% |
| Trade debts | 44 | €5,412 | €1,793 | -€3,619 | -66.9% |
| Suppliers | 440/4 | €5,412 | €1,793 | -€3,619 | -66.9% |
| Taxes, remuneration and social security | 45 | €3,796 | €5,867 | +€2,071 | +54.6% |
| Taxes | 450/3 | €2,096 | €4,167 | +€2,071 | +98.8% |
| Remuneration and social security | 454/9 | €1,700 | €1,700 | = | 0.0% |
| Other amounts payable | 47/48 | €480,182 | €281,809 | -€198,373 | -41.3% |
| Accrued charges and deferred income | 492/3 | €18,220 | €7,862 | -€10,358 | -56.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,785 | €260,178 | +€6,393 | +2.5% |
| Other operating charges | 640/8 | €13,203 | €17,332 | +€4,129 | +31.3% |
| Gross operating margin | 9900 | €25,357 | €4,702 | -€20,655 | -81.5% |
| Operating profit (loss) | 9901 | -€241,631 | -€272,808 | -€31,177 | -12.9% |
| Financial income | 75/76B | €5,125 | €4 | -€5,122 | -99.9% |
| Recurring financial income | 75 | €5,125 | €4 | -€5,122 | -99.9% |
| Financial charges | 65/66B | €40,680 | €11,127 | -€29,554 | -72.6% |
| Recurring financial charges | 65 | €40,680 | €11,127 | -€29,554 | -72.6% |
| Profit (loss) for the period before taxes | 9903 | -€277,186 | -€283,931 | -€6,744 | -2.4% |
| Transfer from deferred taxes | 780 | €5,036 | €5,036 | = | 0.0% |
| Income taxes | 67/77 | €158 | €146 | -€12 | -7.6% |
| Profit (loss) for the period | 9904 | -€272,308 | -€279,041 | -€6,733 | -2.5% |
| Transfer from tax-exempt reserves | 789 | €15,107 | €15,107 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€257,201 | -€263,934 | -€6,733 | -2.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.