Investcom: 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.
What changed
Investcom
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€39,551
2024 · -€27,543-€12,007
Equity
€455,823
2024 · €495,374-€39,551
Cash
€62,041
2024 · €57,749+€4,292
Balance sheet total
€770,736
2024 · €821,185-€50,449
Largest movements
Assets
- Tangible fixed assets -€62,370
down €62,370 (-8.4%), from €739,878 to €677,508
of which Land and buildings: -€38,834
Equity and liabilities
- Advances received +€24,000
new in 2025: €24,000
- Debts after one year -€23,999
down €23,999 (-12.3%), from €194,650 to €170,651
of which Financial debts: -€13,190
- Profit (loss) carried forward -€22,354
down €22,354 (-52.4%), from €42,697 to €20,343
- Reserves -€17,197
down €17,197 (-6.6%), from €260,377 to €243,180
of which Tax-exempt reserves: -€17,197
Income statement
- Gross operating margin -€11,516
down €11,516 (-41.7%), from €27,629 to €16,113
- Financial income -€753
down €753 (-99.9%), from €754 to €1
- Financial charges -€669
down €669 (-8.0%), from €8,410 to €7,741
- Depreciation +€405
up €405 (+1.0%), from €38,875 to €39,280
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.
Result 2024
-€27,543
Gross operating margin
-€11,516
Depreciation
-€405
Other operating charges
-€4
Financial income
-€753
Financial charges
+€669
Taxes
+€49
Deferred taxes and other
-€46
Result 2025
-€39,551
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€11,767
Investment
+€23,090
Financing
-€30,565
Cash 2024
€57,749
From operations (derived)
+€11,767
Net result for the year
-€39,551
Depreciation
+€39,280
Receivables within one year
-€7,363
Deferred charges and accrued income
-€267
Provisions
-€5,732
Trade debts
-€41
Tax, wage and social debts
-€101
Advances received
+€24,000
Other debts
+€1,541
Investment (derived)
+€23,090
Investment in fixed assets (net)
+€23,090
Financing
-€30,565
Debts after one year
-€23,999
Current portion of long-term debt
-€6,559
Short-term financial debts
-€7
Cash 2025
€62,041
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €821,185 | €770,736 | -€50,449 | -6.1% |
| Fixed assets | 21/28 | €739,878 | €677,508 | -€62,370 | -8.4% |
| Tangible fixed assets | 22/27 | €739,878 | €677,508 | -€62,370 | -8.4% |
| Land and buildings | 22 | €711,834 | €673,000 | -€38,834 | -5.5% |
| Plant, machinery and equipment | 23 | €2,637 | €2,382 | -€256 | -9.7% |
| Furniture and vehicles | 24 | €23,090 | €0 | -€23,090 | -100% |
| Other tangible fixed assets | 26 | €2,317 | €2,127 | -€191 | -8.2% |
| Current assets | 29/58 | €81,307 | €93,229 | +€11,921 | +14.7% |
| Amounts receivable within one year | 40/41 | €21,878 | €29,241 | +€7,363 | +33.7% |
| Trade receivables | 40 | €0 | €8,500 | +€8,500 | |
| Other amounts receivable | 41 | €21,878 | €20,741 | -€1,138 | -5.2% |
| Cash at bank and in hand | 54/58 | €57,749 | €62,041 | +€4,292 | +7.4% |
| Deferred charges and accrued income | 490/1 | €1,680 | €1,947 | +€267 | +15.9% |
| Total equity and liabilities | 10/49 | €821,185 | €770,736 | -€50,449 | -6.1% |
| Equity | 10/15 | €495,374 | €455,823 | -€39,551 | -8.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €92,300 | €92,300 | = | 0.0% |
| Reserves | 13 | €260,377 | €243,180 | -€17,197 | -6.6% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €250,377 | €233,180 | -€17,197 | -6.9% |
| Profit (loss) carried forward | 14 | €42,697 | €20,343 | -€22,354 | -52.4% |
| Provisions and deferred taxes | 16 | €83,459 | €77,727 | -€5,732 | -6.9% |
| Deferred taxes | 168 | €83,459 | €77,727 | -€5,732 | -6.9% |
| Amounts payable | 17/49 | €242,352 | €237,187 | -€5,166 | -2.1% |
| Amounts payable after more than one year | 17 | €194,650 | €170,651 | -€23,999 | -12.3% |
| Financial debts | 170/4 | €150,805 | €137,615 | -€13,190 | -8.7% |
| Other amounts payable | 178/9 | €43,844 | €33,036 | -€10,809 | -24.7% |
| Amounts payable within one year | 42/48 | €47,703 | €66,536 | +€18,833 | +39.5% |
| Current portion of amounts payable after more than one year | 42 | €45,047 | €38,489 | -€6,559 | -14.6% |
| Financial debts | 43 | €1,382 | €1,375 | -€7 | -0.5% |
| Credit institutions | 430/8 | €1,382 | €1,375 | -€7 | -0.5% |
| Trade debts | 44 | €834 | €792 | -€41 | -4.9% |
| Suppliers | 440/4 | €834 | €792 | -€41 | -4.9% |
| Advances received on contracts in progress | 46 | - | €24,000 | +€24,000 | |
| Taxes, remuneration and social security | 45 | €440 | €339 | -€101 | -23.0% |
| Taxes | 450/3 | €440 | €339 | -€101 | -23.0% |
| Other amounts payable | 47/48 | €0 | €1,541 | +€1,541 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,875 | €39,280 | +€405 | +1.0% |
| Other operating charges | 640/8 | €14,395 | €14,399 | +€4 | 0.0% |
| Gross operating margin | 9900 | €27,629 | €16,113 | -€11,516 | -41.7% |
| Operating profit (loss) | 9901 | -€25,641 | -€37,567 | -€11,926 | -46.5% |
| Financial income | 75/76B | €754 | €1 | -€753 | -99.9% |
| Recurring financial income | 75 | €754 | €1 | -€753 | -99.9% |
| Financial charges | 65/66B | €8,410 | €7,741 | -€669 | -8.0% |
| Recurring financial charges | 65 | €8,410 | €7,741 | -€669 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€33,298 | -€45,307 | -€12,010 | -36.1% |
| Transfer from deferred taxes | 780 | €5,779 | €5,732 | -€46 | -0.8% |
| Income taxes | 67/77 | €24 | -€24 | -€49 | |
| Profit (loss) for the period | 9904 | -€27,543 | -€39,551 | -€12,007 | -43.6% |
| Transfer from tax-exempt reserves | 789 | €17,336 | €17,197 | -€139 | -0.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,207 | -€22,354 | -€12,146 | -119% |
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 18 October 2026 via checked.be.