INVESTCAR: 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.
INVESTCAR
Largest movements
- Cash -€35,443
down €35,443 (-94.2%), from €37,612 to €2,168
mainly Trade debts (-€47,548) and Stocks and contracts (-€33,560)
- Stocks and contracts +€33,560
up €33,560 (+37.6%), from €89,330 to €122,890
- Tangible fixed assets -€3,837
down €3,837 (-8.0%), from €48,071 to €44,235
of which Land and buildings: -€3,686
- Trade debts -€47,548
down €47,548 (-41.0%), from €115,940 to €68,393
- Other debts +€25,148
new in 2025: €25,148
- Profit (loss) carried forward +€10,885
up €10,885, from -€7,589 to €3,297
- Debts after one year +€5,087
up €5,087 (+18.8%), from €27,074 to €32,161
- Gross operating margin +€16,165
up €16,165 (+301%), from €5,362 to €21,528
- Depreciation -€1,038
down €1,038 (-21.3%), from €4,875 to €3,837
- Other operating charges -€635
down €635 (-12.7%), from €5,007 to €4,372
- Financial charges +€319
up €319 (+30.7%), from €1,037 to €1,356
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 | €175,453 | €169,685 | -€5,768 | -3.3% |
| Fixed assets | 21/28 | €48,071 | €44,235 | -€3,837 | -8.0% |
| Tangible fixed assets | 22/27 | €48,071 | €44,235 | -€3,837 | -8.0% |
| Land and buildings | 22 | €47,921 | €44,235 | -€3,686 | -7.7% |
| Plant, machinery and equipment | 23 | €150 | - | -€150 | |
| Current assets | 29/58 | €127,382 | €125,450 | -€1,931 | -1.5% |
| Stocks and contracts in progress | 3 | €89,330 | €122,890 | +€33,560 | +37.6% |
| Stocks | 30/36 | €89,330 | €122,890 | +€33,560 | +37.6% |
| Amounts receivable within one year | 40/41 | €65 | €10 | -€55 | -85.2% |
| Other amounts receivable | 41 | €65 | €10 | -€55 | -85.2% |
| Cash at bank and in hand | 54/58 | €37,612 | €2,168 | -€35,443 | -94.2% |
| Deferred charges and accrued income | 490/1 | €376 | €383 | +€7 | +1.8% |
| Total equity and liabilities | 10/49 | €175,453 | €169,685 | -€5,768 | -3.3% |
| Equity | 10/15 | €27,871 | €38,757 | +€10,885 | +39.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,860 | €16,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,589 | €3,297 | +€10,885 | |
| Amounts payable | 17/49 | €147,582 | €130,928 | -€16,653 | -11.3% |
| Amounts payable after more than one year | 17 | €27,074 | €32,161 | +€5,087 | +18.8% |
| Financial debts | 170/4 | €27,074 | €32,161 | +€5,087 | +18.8% |
| Amounts payable within one year | 42/48 | €120,508 | €98,768 | -€21,740 | -18.0% |
| Current portion of amounts payable after more than one year | 42 | €4,256 | €3,943 | -€314 | -7.4% |
| Trade debts | 44 | €115,940 | €68,393 | -€47,548 | -41.0% |
| Suppliers | 440/4 | €115,940 | €68,393 | -€47,548 | -41.0% |
| Taxes, remuneration and social security | 45 | €311 | €1,284 | +€973 | +312% |
| Taxes | 450/3 | €311 | €1,284 | +€973 | +312% |
| Other amounts payable | 47/48 | - | €25,148 | +€25,148 | |
| Non-recurring operating income | 76A | €200 | €100 | -€100 | -50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,875 | €3,837 | -€1,038 | -21.3% |
| Other operating charges | 640/8 | €5,007 | €4,372 | -€635 | -12.7% |
| Non-recurring operating charges | 66A | - | €158 | +€158 | |
| Gross operating margin | 9900 | €5,362 | €21,528 | +€16,165 | +301% |
| Operating profit (loss) | 9901 | -€4,520 | €13,161 | +€17,680 | |
| Financial income | 75/76B | €40 | €20 | -€20 | -49.5% |
| Recurring financial income | 75 | €40 | €20 | -€20 | -49.5% |
| Financial charges | 65/66B | €1,037 | €1,356 | +€319 | +30.7% |
| Recurring financial charges | 65 | €1,037 | €1,356 | +€319 | +30.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,517 | €11,825 | +€17,342 | |
| Income taxes | 67/77 | €1,095 | €940 | -€155 | -14.2% |
| Profit (loss) for the period | 9904 | -€6,612 | €10,885 | +€17,497 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,612 | €10,885 | +€17,497 |
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 15 October 2026 via checked.be.