InvEstate: 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.
InvEstate
Largest movements
- Tangible fixed assets +€346,914
up €346,914 (+52.7%), from €658,090 to €1.0m
of which Land and buildings: +€346,914
- Receivables within one year -€179,389
down €179,389 (-90.8%), from €197,539 to €18,150
of which Other amounts receivable: -€174,071
- Cash -€156,513
down €156,513 (-78.2%), from €200,074 to €43,561
mainly Investment in fixed assets (net) (-€441,031) and Net result for the year (-€172,126)
- Profit (loss) carried forward -€172,126
down €172,126, from €0 to -€172,126
- Debts after one year +€164,684
up €164,684 (+67.7%), from €243,217 to €407,901
- Trade debts +€104,161
up €104,161 (+483%), from €21,558 to €125,719
- Other debts -€88,711
down €88,711 (-19.2%), from €462,831 to €374,120
- Current portion of long-term debt +€46,460
up €46,460 (+49.4%), from €93,987 to €140,446
- Gross operating margin -€320,539
down €320,539, from €317,687 to -€2,852
- Depreciation +€30,364
up €30,364 (+47.6%), from €63,753 to €94,117
- Taxes -€3,376
down €3,376 (-6.5%), from €51,557 to €48,181
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 | €1,059,250 | €1,070,253 | +€11,004 | +1.0% |
| Fixed assets | 21/28 | €658,090 | €1,005,004 | +€346,914 | +52.7% |
| Tangible fixed assets | 22/27 | €658,090 | €1,005,004 | +€346,914 | +52.7% |
| Land and buildings | 22 | €658,090 | €1,005,004 | +€346,914 | +52.7% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Current assets | 29/58 | €401,159 | €65,249 | -€335,910 | -83.7% |
| Amounts receivable within one year | 40/41 | €197,539 | €18,150 | -€179,389 | -90.8% |
| Trade receivables | 40 | €23,468 | €18,150 | -€5,318 | -22.7% |
| Other amounts receivable | 41 | €174,071 | €0 | -€174,071 | -100% |
| Cash at bank and in hand | 54/58 | €200,074 | €43,561 | -€156,513 | -78.2% |
| Deferred charges and accrued income | 490/1 | €3,546 | €3,538 | -€8 | -0.2% |
| Total equity and liabilities | 10/49 | €1,059,250 | €1,070,253 | +€11,004 | +1.0% |
| Equity | 10/15 | €177,967 | €5,840 | -€172,126 | -96.7% |
| 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% |
| Reserves | 13 | €116,467 | €116,467 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €110,317 | €110,317 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€172,126 | -€172,126 | |
| Amounts payable | 17/49 | €881,283 | €1,064,413 | +€183,130 | +20.8% |
| Amounts payable after more than one year | 17 | €243,217 | €407,901 | +€164,684 | +67.7% |
| Financial debts | 170/4 | €243,217 | €407,901 | +€164,684 | +67.7% |
| Amounts payable within one year | 42/48 | €633,307 | €656,512 | +€23,205 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €93,987 | €140,446 | +€46,460 | +49.4% |
| Financial debts | 43 | €31,760 | €0 | -€31,760 | -100% |
| Credit institutions | 430/8 | €31,760 | €0 | -€31,760 | -100% |
| Trade debts | 44 | €21,558 | €125,719 | +€104,161 | +483% |
| Suppliers | 440/4 | €21,558 | €125,719 | +€104,161 | +483% |
| Taxes, remuneration and social security | 45 | €23,171 | €16,226 | -€6,944 | -30.0% |
| Taxes | 450/3 | €18,171 | €16,226 | -€1,944 | -10.7% |
| Remuneration and social security | 454/9 | €5,000 | €0 | -€5,000 | -100% |
| Other amounts payable | 47/48 | €462,831 | €374,120 | -€88,711 | -19.2% |
| Accrued charges and deferred income | 492/3 | €4,759 | €0 | -€4,759 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,753 | €94,117 | +€30,364 | +47.6% |
| Other operating charges | 640/8 | €3,795 | €3,259 | -€536 | -14.1% |
| Gross operating margin | 9900 | €317,687 | -€2,852 | -€320,539 | |
| Operating profit (loss) | 9901 | €250,139 | -€100,228 | -€350,367 | |
| Financial income | 75/76B | €3,233 | €237 | -€2,996 | -92.7% |
| Recurring financial income | 75 | €3,233 | €237 | -€2,996 | -92.7% |
| Financial charges | 65/66B | €24,984 | €23,955 | -€1,029 | -4.1% |
| Recurring financial charges | 65 | €24,984 | €23,955 | -€1,029 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €228,389 | -€123,946 | -€352,334 | |
| Income taxes | 67/77 | €51,557 | €48,181 | -€3,376 | -6.5% |
| Profit (loss) for the period | 9904 | €176,832 | -€172,126 | -€348,958 | |
| Profit (loss) for the period to be appropriated | 9905 | €176,832 | -€172,126 | -€348,958 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.