INVESTCO+: 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.
INVESTCO+
Largest movements
- Stocks and contracts -€549,034
down €549,034 (-18.2%), from €3.0m to €2.5m
- Short-term financial debts -€599,897
down €599,897 (-27.7%), from €2.2m to €1.6m
- Other debts +€45,500
new in 2026: €45,500
- Financial charges -€27,364
down €27,364 (-25.4%), from €107,796 to €80,432
- Gross operating margin +€23,881
up €23,881 (+49.0%), from €48,778 to €72,660
- Other operating charges +€1,314
up €1,314 (+25.4%), from €5,163 to €6,477
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,071,807 | €2,524,505 | -€547,302 | -17.8% |
| Current assets | 29/58 | €3,071,807 | €2,524,505 | -€547,302 | -17.8% |
| Stocks and contracts in progress | 3 | €3,009,565 | €2,460,531 | -€549,034 | -18.2% |
| Stocks | 30/36 | €3,009,565 | €2,460,531 | -€549,034 | -18.2% |
| Amounts receivable within one year | 40/41 | €62,242 | €62,622 | +€380 | +0.6% |
| Trade receivables | 40 | €257 | €100 | -€157 | -61.0% |
| Other amounts receivable | 41 | €61,985 | €62,522 | +€537 | +0.9% |
| Cash at bank and in hand | 54/58 | - | €1,352 | +€1,352 | |
| Total equity and liabilities | 10/49 | €3,071,807 | €2,524,505 | -€547,302 | -17.8% |
| Equity | 10/15 | €899,215 | €885,199 | -€14,015 | -1.6% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €8,944 | €8,944 | = | 0.0% |
| Distributable reserves | 133 | €8,944 | €8,944 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€109,729 | -€123,745 | -€14,015 | -12.8% |
| Amounts payable | 17/49 | €2,172,592 | €1,639,306 | -€533,286 | -24.5% |
| Amounts payable within one year | 42/48 | €2,169,612 | €1,636,867 | -€532,745 | -24.6% |
| Financial debts | 43 | €2,168,147 | €1,568,250 | -€599,897 | -27.7% |
| Credit institutions | 430/8 | €2,168,147 | €1,568,250 | -€599,897 | -27.7% |
| Trade debts | 44 | €1,465 | €23,117 | +€21,652 | +1,478% |
| Suppliers | 440/4 | €1,465 | €23,117 | +€21,652 | +1,478% |
| Other amounts payable | 47/48 | - | €45,500 | +€45,500 | |
| Accrued charges and deferred income | 492/3 | €2,980 | €2,439 | -€541 | -18.2% |
| Other operating charges | 640/8 | €5,163 | €6,477 | +€1,314 | +25.4% |
| Gross operating margin | 9900 | €48,778 | €72,660 | +€23,881 | +49.0% |
| Operating profit (loss) | 9901 | €43,615 | €66,183 | +€22,568 | +51.7% |
| Financial income | 75/76B | - | €234 | +€234 | |
| Recurring financial income | 75 | - | €234 | +€234 | |
| Financial charges | 65/66B | €107,796 | €80,432 | -€27,364 | -25.4% |
| Recurring financial charges | 65 | €107,796 | €80,432 | -€27,364 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | -€64,180 | -€14,015 | +€50,165 | +78.2% |
| Profit (loss) for the period | 9904 | -€64,180 | -€14,015 | +€50,165 | +78.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,180 | -€14,015 | +€50,165 | +78.2% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.