INVEST M: 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 M
Largest movements
- Tangible fixed assets +€546,382
up €546,382 (+341%), from €160,425 to €706,807
- Receivables within one year -€72,912
down €72,912 (-76.4%), from €95,433 to €22,521
of which Other amounts receivable: -€72,912
- Contributions +€488,000
up €488,000 (+870%), from €56,100 to €544,100
- Other debts -€118,404
down €118,404 (-99.6%), from €118,840 to €436
- Debts after one year +€89,712
up €89,712 (+145%), from €61,658 to €151,370
- Reserves +€9,668
up €9,668 (+75.6%), from €12,782 to €22,450
- Gross operating margin +€9,858
up €9,858 (+43.2%), from €22,838 to €32,696
- Taxes +€1,886
up €1,886 (+123%), from €1,530 to €3,416
- Financial charges -€606
down €606 (-13.8%), from €4,400 to €3,794
- Depreciation +€603
up €603 (+4.8%), from €12,650 to €13,253
- Other operating charges +€412
up €412 (+19.1%), from €2,153 to €2,565
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 | €265,376 | €739,421 | +€474,045 | +179% |
| Fixed assets | 21/28 | €160,425 | €706,807 | +€546,382 | +341% |
| Tangible fixed assets | 22/27 | €160,425 | €706,807 | +€546,382 | +341% |
| Land and buildings | 22 | €160,425 | €706,807 | +€546,382 | +341% |
| Current assets | 29/58 | €104,951 | €32,614 | -€72,337 | -68.9% |
| Amounts receivable within one year | 40/41 | €95,433 | €22,521 | -€72,912 | -76.4% |
| Trade receivables | 40 | €8,712 | €8,712 | = | 0.0% |
| Other amounts receivable | 41 | €86,721 | €13,809 | -€72,912 | -84.1% |
| Cash at bank and in hand | 54/58 | €9,518 | €10,093 | +€575 | +6.0% |
| Total equity and liabilities | 10/49 | €265,376 | €739,421 | +€474,045 | +179% |
| Equity | 10/15 | €68,882 | €566,550 | +€497,668 | +722% |
| Contributions | 10/11 | €56,100 | €544,100 | +€488,000 | +870% |
| Contributions outside capital | 11 | €56,100 | €544,100 | +€488,000 | +870% |
| Share premium | 1100/10 | €56,100 | €544,100 | +€488,000 | +870% |
| Reserves | 13 | €12,782 | €22,450 | +€9,668 | +75.6% |
| Distributable reserves | 133 | €12,782 | €22,450 | +€9,668 | +75.6% |
| Amounts payable | 17/49 | €196,494 | €172,871 | -€23,623 | -12.0% |
| Amounts payable after more than one year | 17 | €61,658 | €151,370 | +€89,712 | +145% |
| Financial debts | 170/4 | €61,658 | €151,370 | +€89,712 | +145% |
| Amounts payable within one year | 42/48 | €134,836 | €21,501 | -€113,335 | -84.1% |
| Current portion of amounts payable after more than one year | 42 | €12,604 | €13,288 | +€684 | +5.4% |
| Trade debts | 44 | €29 | €1,138 | +€1,109 | +3,824% |
| Suppliers | 440/4 | €29 | €1,138 | +€1,109 | +3,824% |
| Taxes, remuneration and social security | 45 | €3,363 | €6,639 | +€3,276 | +97.4% |
| Taxes | 450/3 | €3,363 | €6,639 | +€3,276 | +97.4% |
| Other amounts payable | 47/48 | €118,840 | €436 | -€118,404 | -99.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,650 | €13,253 | +€603 | +4.8% |
| Other operating charges | 640/8 | €2,153 | €2,565 | +€412 | +19.1% |
| Gross operating margin | 9900 | €22,838 | €32,696 | +€9,858 | +43.2% |
| Operating profit (loss) | 9901 | €8,035 | €16,878 | +€8,843 | +110% |
| Financial charges | 65/66B | €4,400 | €3,794 | -€606 | -13.8% |
| Recurring financial charges | 65 | €4,400 | €3,794 | -€606 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €3,635 | €13,084 | +€9,449 | +260% |
| Income taxes | 67/77 | €1,530 | €3,416 | +€1,886 | +123% |
| Profit (loss) for the period | 9904 | €2,105 | €9,668 | +€7,563 | +359% |
| Profit (loss) for the period to be appropriated | 9905 | €2,105 | €9,668 | +€7,563 | +359% |
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 22 October 2026 via checked.be.