InvestCon: 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.
InvestCon
Largest movements
- Current investments +€114,994
up €114,994 (+24.9%), from €460,965 to €575,959
- Cash -€68,942
down €68,942 (-39.3%), from €175,413 to €106,471
mainly Current investments (-€114,994) and Debts after one year (-€105,000)
- Receivables after one year -€63,000
no longer reported in 2025 (was €63,000)
- Tangible fixed assets -€47,134
down €47,134 (-8.5%), from €555,236 to €508,103
of which Land and buildings: -€119,869
- Debts after one year -€105,000
down €105,000 (-39.4%), from €266,634 to €161,634
- Other debts +€86,009
up €86,009 (+27.0%), from €318,668 to €404,677
- Profit (loss) carried forward -€75,000
down €75,000 (-56.6%), from €132,561 to €57,561
- Reserves +€50,813
up €50,813 (+11.0%), from €460,037 to €510,850
of which Distributable reserves: +€50,813
- Current portion of long-term debt -€23,550
down €23,550 (-36.1%), from €65,250 to €41,700
- Taxes -€19,720
down €19,720 (-92.2%), from €21,381 to €1,661
- Depreciation +€8,262
up €8,262 (+26.4%), from €31,336 to €39,598
- Financial charges -€6,348
down €6,348 (-20.5%), from €30,907 to €24,559
- Financial income +€4,228
up €4,228 (+12.0%), from €35,328 to €39,556
- Other operating charges +€3,962
new in 2025: €3,962
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 | €1,265,520 | €1,200,247 | -€65,272 | -5.2% |
| Fixed assets | 21/28 | €555,236 | €508,103 | -€47,134 | -8.5% |
| Tangible fixed assets | 22/27 | €555,236 | €508,103 | -€47,134 | -8.5% |
| Land and buildings | 22 | €453,643 | €333,774 | -€119,869 | -26.4% |
| Assets under construction and advance payments | 27 | €101,593 | €174,329 | +€72,736 | +71.6% |
| Current assets | 29/58 | €710,283 | €692,145 | -€18,139 | -2.6% |
| Amounts receivable after more than one year | 29 | €63,000 | - | -€63,000 | |
| Other amounts receivable | 291 | €63,000 | - | -€63,000 | |
| Amounts receivable within one year | 40/41 | €10,905 | €9,714 | -€1,191 | -10.9% |
| Trade receivables | 40 | - | €1,150 | +€1,150 | |
| Other amounts receivable | 41 | €10,905 | €8,565 | -€2,340 | -21.5% |
| Current investments | 50/53 | €460,965 | €575,959 | +€114,994 | +24.9% |
| Cash at bank and in hand | 54/58 | €175,413 | €106,471 | -€68,942 | -39.3% |
| Total equity and liabilities | 10/49 | €1,265,520 | €1,200,247 | -€65,272 | -5.2% |
| Equity | 10/15 | €598,798 | €574,611 | -€24,187 | -4.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €460,037 | €510,850 | +€50,813 | +11.0% |
| 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 | €458,177 | €508,990 | +€50,813 | +11.1% |
| Profit (loss) carried forward | 14 | €132,561 | €57,561 | -€75,000 | -56.6% |
| Amounts payable | 17/49 | €666,722 | €625,637 | -€41,085 | -6.2% |
| Amounts payable after more than one year | 17 | €266,634 | €161,634 | -€105,000 | -39.4% |
| Financial debts | 170/4 | €266,634 | €161,634 | -€105,000 | -39.4% |
| Amounts payable within one year | 42/48 | €400,088 | €462,354 | +€62,266 | +15.6% |
| Current portion of amounts payable after more than one year | 42 | €65,250 | €41,700 | -€23,550 | -36.1% |
| Trade debts | 44 | €3,624 | €5,716 | +€2,093 | +57.7% |
| Suppliers | 440/4 | €3,624 | €5,716 | +€2,093 | +57.7% |
| Taxes, remuneration and social security | 45 | €12,546 | €10,260 | -€2,286 | -18.2% |
| Taxes | 450/3 | €12,546 | €10,260 | -€2,286 | -18.2% |
| Other amounts payable | 47/48 | €318,668 | €404,677 | +€86,009 | +27.0% |
| Accrued charges and deferred income | 492/3 | - | €1,649 | +€1,649 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,336 | €39,598 | +€8,262 | +26.4% |
| Other operating charges | 640/8 | - | €3,962 | +€3,962 | |
| Gross operating margin | 9900 | €84,242 | €81,037 | -€3,205 | -3.8% |
| Operating profit (loss) | 9901 | €52,906 | €37,476 | -€15,430 | -29.2% |
| Financial income | 75/76B | €35,328 | €39,556 | +€4,228 | +12.0% |
| Recurring financial income | 75 | €35,328 | €39,556 | +€4,228 | +12.0% |
| Financial charges | 65/66B | €30,907 | €24,559 | -€6,348 | -20.5% |
| Recurring financial charges | 65 | €30,907 | €24,559 | -€6,348 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €57,327 | €52,473 | -€4,853 | -8.5% |
| Income taxes | 67/77 | €21,381 | €1,661 | -€19,720 | -92.2% |
| Profit (loss) for the period | 9904 | €35,946 | €50,813 | +€14,867 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €35,946 | €50,813 | +€14,867 | +41.4% |
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 16 October 2026 via checked.be.