InVesta26: 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.
InVesta26
Largest movements
- Financial fixed assets -€1.1m
down €1.1m (-63.3%), from €1.8m to €659,993
- Intangible fixed assets +€1.1m
new in 2025: €1.1m
- Tangible fixed assets +€342,056
up €342,056 (+111%), from €308,779 to €650,835
of which Land and buildings: +€285,090
- Current investments -€201,186
down €201,186 (-100%), from €201,186 to €0
- Receivables within one year +€179,364
up €179,364 (+339%), from €52,842 to €232,206
of which Other amounts receivable: +€106,056
- Debts after one year +€225,565
up €225,565 (+82.2%), from €274,340 to €499,905
- Other debts -€105,509
down €105,509 (-51.0%), from €206,962 to €101,453
- Tax, wage and social debts +€70,941
new in 2025: €70,941
of which Taxes: +€68,757
- Reserves +€62,838
up €62,838 (+4.7%), from €1.3m to €1.4m
- Current portion of long-term debt +€45,749
up €45,749 (+396%), from €11,546 to €57,295
- Gross operating margin +€168,618
up €168,618 (+758%), from €22,244 to €190,861
- Depreciation +€76,825
up €76,825 (+428%), from €17,961 to €94,786
- Taxes +€7,438
new in 2025: €7,438
- Other operating charges +€6,980
up €6,980 (+643%), from €1,086 to €8,065
- Financial charges +€4,567
up €4,567 (+34.2%), from €13,362 to €17,929
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 | €2,367,162 | €2,734,602 | +€367,440 | +15.5% |
| Fixed assets | 21/28 | €2,108,779 | €2,390,901 | +€282,123 | +13.4% |
| Intangible fixed assets | 21 | - | €1,080,074 | +€1.1m | |
| Tangible fixed assets | 22/27 | €308,779 | €650,835 | +€342,056 | +111% |
| Land and buildings | 22 | €308,779 | €593,869 | +€285,090 | +92.3% |
| Furniture and vehicles | 24 | - | €18,659 | +€18,659 | |
| Other tangible fixed assets | 26 | - | €38,306 | +€38,306 | |
| Financial fixed assets | 28 | €1,800,000 | €659,993 | -€1.1m | -63.3% |
| Current assets | 29/58 | €258,383 | €343,700 | +€85,317 | +33.0% |
| Amounts receivable within one year | 40/41 | €52,842 | €232,206 | +€179,364 | +339% |
| Trade receivables | 40 | - | €73,308 | +€73,308 | |
| Other amounts receivable | 41 | €52,842 | €158,898 | +€106,056 | +201% |
| Current investments | 50/53 | €201,186 | €0 | -€201,186 | -100% |
| Cash at bank and in hand | 54/58 | €4,355 | €109,976 | +€105,621 | +2,425% |
| Deferred charges and accrued income | 490/1 | - | €1,518 | +€1,518 | |
| Total equity and liabilities | 10/49 | €2,367,162 | €2,734,602 | +€367,440 | +15.5% |
| Equity | 10/15 | €1,874,315 | €1,943,222 | +€68,907 | +3.7% |
| Contributions | 10/11 | €555,000 | €555,000 | = | 0.0% |
| Reserves | 13 | €1,325,384 | €1,388,222 | +€62,838 | +4.7% |
| Distributable reserves | 133 | €1,325,384 | €1,388,222 | +€62,838 | +4.7% |
| Profit (loss) carried forward | 14 | -€6,069 | €0 | +€6,069 | |
| Provisions and deferred taxes | 16 | - | €40,085 | +€40,085 | |
| Provisions for liabilities and charges | 160/5 | - | €40,085 | +€40,085 | |
| Pensions and similar obligations | 160 | - | €40,085 | +€40,085 | |
| Amounts payable | 17/49 | €492,848 | €751,295 | +€258,447 | +52.4% |
| Amounts payable after more than one year | 17 | €274,340 | €499,905 | +€225,565 | +82.2% |
| Financial debts | 170/4 | €274,340 | €499,905 | +€225,565 | +82.2% |
| Amounts payable within one year | 42/48 | €218,508 | €251,390 | +€32,882 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €11,546 | €57,295 | +€45,749 | +396% |
| Trade debts | 44 | €0 | €21,701 | +€21,701 | |
| Suppliers | 440/4 | €0 | €21,701 | +€21,701 | |
| Taxes, remuneration and social security | 45 | - | €70,941 | +€70,941 | |
| Taxes | 450/3 | - | €68,757 | +€68,757 | |
| Remuneration and social security | 454/9 | - | €2,184 | +€2,184 | |
| Other amounts payable | 47/48 | €206,962 | €101,453 | -€105,509 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,961 | €94,786 | +€76,825 | +428% |
| Other operating charges | 640/8 | €1,086 | €8,065 | +€6,980 | +643% |
| Gross operating margin | 9900 | €22,244 | €190,861 | +€168,618 | +758% |
| Operating profit (loss) | 9901 | €3,197 | €88,010 | +€84,813 | +2,653% |
| Financial income | 75/76B | €4,674 | €6,264 | +€1,590 | +34.0% |
| Recurring financial income | 75 | €4,674 | €6,264 | +€1,590 | +34.0% |
| Financial charges | 65/66B | €13,362 | €17,929 | +€4,567 | +34.2% |
| Recurring financial charges | 65 | €13,362 | €17,929 | +€4,567 | +34.2% |
| Profit (loss) for the period before taxes | 9903 | -€5,491 | €76,345 | +€81,836 | |
| Income taxes | 67/77 | - | €7,438 | +€7,438 | |
| Profit (loss) for the period | 9904 | -€5,491 | €68,907 | +€74,398 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,491 | €68,907 | +€74,398 |
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 23 October 2026 via checked.be.