INVEST WAVRE: what changed
What changed
INVEST WAVRE
filed annual accounts (NBB)
Net result for the year
-€41,268
2024 · €144,712-€185,981
Equity
€398,416
2024 · €439,684-€41,268
Cash
€2,168
2024 · €1,000+€1,168
Balance sheet total
€884,721
2024 · €992,157-€107,436
Largest movements
Assets
- Receivables within one year -€202,244
down €202,244 (-59.8%), from €338,130 to €135,886
of which Other amounts receivable: -€150,850
- Tangible fixed assets +€93,240
up €93,240 (+14.4%), from €647,651 to €740,891
of which Assets under construction and advance payments: +€160,380
Equity and liabilities
- Debts after one year -€49,918
down €49,918 (-14.9%), from €335,656 to €285,738
of which Financial debts: -€50,503
- Profit (loss) carried forward -€41,268
down €41,268 (-5.6%), from -€732,056 to -€773,324
- Trade debts -€15,237
down €15,237 (-46.7%), from €32,606 to €17,369
- Revaluation surpluses -€14,600
down €14,600 (-7.3%), from €198,853 to €184,253
- Reserves +€14,600
up €14,600 (+1.6%), from €911,386 to €925,986
of which Distributable reserves: +€14,600
Income statement
- Gross operating margin -€171,279
down €171,279 (-75.2%), from €227,704 to €56,424
- Financial income -€9,926
down €9,926 (-53.0%), from €18,741 to €8,815
- Financial charges +€5,048
up €5,048 (+28.2%), from €17,929 to €22,977
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
€144,712
Gross operating margin
-€171,279
Depreciation
-€377
Write-downs
-€1,230
Other operating charges
+€1,865
Financial income
-€9,926
Financial charges
-€5,048
Taxes
+€14
Result 2025
-€41,268
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
+€213,807
Investment
-€162,578
Financing
-€50,061
Cash 2024
€1,000
From operations (derived)
+€213,807
Net result for the year
-€41,268
Depreciation
+€69,338
Receivables within one year
+€202,244
Smaller working-capital items
-€269
Trade debts
-€15,237
Accrued charges and deferred income
-€1,000
Investment (derived)
-€162,578
Investment in fixed assets (net)
-€162,578
Financing
-€50,061
Debts after one year
-€49,918
Current portion of long-term debt
-€143
Cash 2025
€2,168
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €992,157 | €884,721 | -€107,436 | -10.8% |
| Fixed assets | 21/28 | €648,637 | €741,878 | +€93,240 | +14.4% |
| Tangible fixed assets | 22/27 | €647,651 | €740,891 | +€93,240 | +14.4% |
| Land and buildings | 22 | €442,921 | €381,297 | -€61,625 | -13.9% |
| Plant, machinery and equipment | 23 | €1,062 | €292 | -€770 | -72.5% |
| Furniture and vehicles | 24 | €19,293 | €14,547 | -€4,746 | -24.6% |
| Assets under construction and advance payments | 27 | €184,375 | €344,756 | +€160,380 | +87.0% |
| Financial fixed assets | 28 | €987 | €987 | = | 0.0% |
| Current assets | 29/58 | €343,519 | €142,843 | -€200,676 | -58.4% |
| Amounts receivable within one year | 40/41 | €338,130 | €135,886 | -€202,244 | -59.8% |
| Trade receivables | 40 | €51,393 | - | -€51,393 | |
| Other amounts receivable | 41 | €286,736 | €135,886 | -€150,850 | -52.6% |
| Cash at bank and in hand | 54/58 | €1,000 | €2,168 | +€1,168 | +117% |
| Deferred charges and accrued income | 490/1 | €4,390 | €4,789 | +€400 | +9.1% |
| Total equity and liabilities | 10/49 | €992,157 | €884,721 | -€107,436 | -10.8% |
| Equity | 10/15 | €439,684 | €398,416 | -€41,268 | -9.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Revaluation surpluses | 12 | €198,853 | €184,253 | -€14,600 | -7.3% |
| Reserves | 13 | €911,386 | €925,986 | +€14,600 | +1.6% |
| Tax-exempt reserves | 132 | €396,310 | €396,310 | = | 0.0% |
| Distributable reserves | 133 | €515,076 | €529,676 | +€14,600 | +2.8% |
| Profit (loss) carried forward | 14 | -€732,056 | -€773,324 | -€41,268 | -5.6% |
| Provisions and deferred taxes | 16 | €132,103 | €132,103 | = | 0.0% |
| Deferred taxes | 168 | €132,103 | €132,103 | = | 0.0% |
| Amounts payable | 17/49 | €420,370 | €354,202 | -€66,168 | -15.7% |
| Amounts payable after more than one year | 17 | €335,656 | €285,738 | -€49,918 | -14.9% |
| Financial debts | 170/4 | €326,676 | €276,173 | -€50,503 | -15.5% |
| Other amounts payable | 178/9 | €8,980 | €9,565 | +€585 | +6.5% |
| Amounts payable within one year | 42/48 | €83,713 | €68,463 | -€15,250 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €50,646 | €50,503 | -€143 | -0.3% |
| Trade debts | 44 | €32,606 | €17,369 | -€15,237 | -46.7% |
| Suppliers | 440/4 | €32,606 | €17,369 | -€15,237 | -46.7% |
| Taxes, remuneration and social security | 45 | €461 | €591 | +€130 | +28.2% |
| Taxes | 450/3 | €461 | €591 | +€130 | +28.2% |
| Accrued charges and deferred income | 492/3 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,962 | €69,338 | +€377 | +0.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,450 | €6,680 | +€1,230 | +22.6% |
| Other operating charges | 640/8 | €9,090 | €7,224 | -€1,865 | -20.5% |
| Gross operating margin | 9900 | €227,704 | €56,424 | -€171,279 | -75.2% |
| Operating profit (loss) | 9901 | €144,202 | -€26,818 | -€171,021 | |
| Financial income | 75/76B | €18,741 | €8,815 | -€9,926 | -53.0% |
| Recurring financial income | 75 | €18,741 | €8,815 | -€9,926 | -53.0% |
| Financial charges | 65/66B | €17,929 | €22,977 | +€5,048 | +28.2% |
| Recurring financial charges | 65 | €17,929 | €22,977 | +€5,048 | +28.2% |
| Profit (loss) for the period before taxes | 9903 | €145,015 | -€40,979 | -€185,994 | |
| Income taxes | 67/77 | €302 | €289 | -€14 | -4.5% |
| Profit (loss) for the period | 9904 | €144,712 | -€41,268 | -€185,981 | |
| Profit (loss) for the period to be appropriated | 9905 | €144,712 | -€41,268 | -€185,981 |
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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.