invest ph: what changed
invest ph
Largest movements
- Tangible fixed assets -€50,313
down €50,313 (-6.6%), from €758,452 to €708,139
- Receivables within one year +€26,751
up €26,751 (+149%), from €18,000 to €44,751
of which Other amounts receivable: +€44,751
- Cash -€23,965
down €23,965 (-31.3%), from €76,502 to €52,536
mainly Other debts (-€40,272) and Receivables within one year (-€26,751)
- Other debts -€40,272
no longer reported in 2025 (was €40,272)
- Gross operating margin +€23,539
up €23,539 (+120%), from €19,570 to €43,109
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 | €1,492,024 | €1,444,497 | -€47,527 | -3.2% |
| Fixed assets | 21/28 | €1,397,522 | €1,347,210 | -€50,313 | -3.6% |
| Tangible fixed assets | 22/27 | €758,452 | €708,139 | -€50,313 | -6.6% |
| Land and buildings | 22 | €758,452 | €708,139 | -€50,313 | -6.6% |
| Financial fixed assets | 28 | €639,071 | €639,071 | = | 0.0% |
| Current assets | 29/58 | €94,502 | €97,287 | +€2,785 | +2.9% |
| Amounts receivable within one year | 40/41 | €18,000 | €44,751 | +€26,751 | +149% |
| Trade receivables | 40 | €18,000 | - | -€18,000 | |
| Other amounts receivable | 41 | - | €44,751 | +€44,751 | |
| Cash at bank and in hand | 54/58 | €76,502 | €52,536 | -€23,965 | -31.3% |
| Total equity and liabilities | 10/49 | €1,492,024 | €1,444,497 | -€47,527 | -3.2% |
| Equity | 10/15 | €50,500 | €43,245 | -€7,255 | -14.4% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€949,500 | -€956,755 | -€7,255 | -0.8% |
| Amounts payable | 17/49 | €1,441,524 | €1,401,252 | -€40,272 | -2.8% |
| Amounts payable after more than one year | 17 | €959,487 | €959,487 | = | 0.0% |
| Other amounts payable | 178/9 | €959,487 | €959,487 | = | 0.0% |
| Amounts payable within one year | 42/48 | €482,037 | €441,765 | -€40,272 | -8.4% |
| Financial debts | 43 | €440,000 | €440,000 | = | 0.0% |
| Credit institutions | 430/8 | €440,000 | €440,000 | = | 0.0% |
| Trade debts | 44 | €1,765 | €1,765 | = | 0.0% |
| Suppliers | 440/4 | €1,765 | €1,765 | = | 0.0% |
| Other amounts payable | 47/48 | €40,272 | - | -€40,272 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,313 | €50,313 | = | 0.0% |
| Gross operating margin | 9900 | €19,570 | €43,109 | +€23,539 | +120% |
| Operating profit (loss) | 9901 | -€30,742 | -€7,204 | +€23,539 | +76.6% |
| Financial charges | 65/66B | €56 | €51 | -€5 | -9.3% |
| Recurring financial charges | 65 | €56 | €51 | -€5 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | -€30,799 | -€7,255 | +€23,544 | +76.4% |
| Profit (loss) for the period | 9904 | -€30,799 | -€7,255 | +€23,544 | +76.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,799 | -€7,255 | +€23,544 | +76.4% |
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 2 November 2026 via checked.be.