INVESTMENT CODI: 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.
INVESTMENT CODI
Largest movements
- Tangible fixed assets -€39,820
down €39,820 (-3.0%), from €1.3m to €1.3m
- Debts after one year -€24,091
down €24,091 (-3.8%), from €628,970 to €604,879
of which Financial debts: -€24,091
- Profit (loss) carried forward -€22,289
down €22,289 (-8.8%), from -€254,107 to -€276,397
- Other debts +€15,002
up €15,002 (+4.8%), from €312,041 to €327,043
- Financial charges -€21,641
down €21,641 (-45.0%), from €48,130 to €26,489
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 | €1,394,091 | €1,358,500 | -€35,591 | -2.6% |
| Fixed assets | 21/28 | €1,338,946 | €1,299,126 | -€39,820 | -3.0% |
| Tangible fixed assets | 22/27 | €1,338,946 | €1,299,126 | -€39,820 | -3.0% |
| Land and buildings | 22 | €1,338,946 | €1,299,126 | -€39,820 | -3.0% |
| Current assets | 29/58 | €55,145 | €59,374 | +€4,229 | +7.7% |
| Amounts receivable within one year | 40/41 | €1,730 | €575 | -€1,155 | -66.8% |
| Trade receivables | 40 | €1,330 | €175 | -€1,155 | -86.8% |
| Other amounts receivable | 41 | €400 | €400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €53,415 | €58,799 | +€5,384 | +10.1% |
| Total equity and liabilities | 10/49 | €1,394,091 | €1,358,500 | -€35,591 | -2.6% |
| Equity | 10/15 | €415,893 | €393,603 | -€22,289 | -5.4% |
| Contributions | 10/11 | €670,000 | €670,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€254,107 | -€276,397 | -€22,289 | -8.8% |
| Amounts payable | 17/49 | €978,198 | €964,896 | -€13,302 | -1.4% |
| Amounts payable after more than one year | 17 | €628,970 | €604,879 | -€24,091 | -3.8% |
| Financial debts | 170/4 | €290,970 | €266,879 | -€24,091 | -8.3% |
| Other amounts payable | 178/9 | €338,000 | €338,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €348,438 | €358,562 | +€10,124 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €23,728 | €24,091 | +€363 | +1.5% |
| Trade debts | 44 | - | €998 | +€998 | |
| Suppliers | 440/4 | - | €998 | +€998 | |
| Taxes, remuneration and social security | 45 | €12,669 | €6,429 | -€6,240 | -49.3% |
| Taxes | 450/3 | €12,669 | €6,429 | -€6,240 | -49.3% |
| Other amounts payable | 47/48 | €312,041 | €327,043 | +€15,002 | +4.8% |
| Accrued charges and deferred income | 492/3 | €790 | €1,455 | +€665 | +84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,820 | €39,820 | = | 0.0% |
| Other operating charges | 640/8 | €6,958 | €7,175 | +€217 | +3.1% |
| Gross operating margin | 9900 | €51,276 | €51,194 | -€82 | -0.2% |
| Operating profit (loss) | 9901 | €4,498 | €4,200 | -€299 | -6.6% |
| Financial charges | 65/66B | €48,130 | €26,489 | -€21,641 | -45.0% |
| Recurring financial charges | 65 | €48,130 | €26,489 | -€21,641 | -45.0% |
| Profit (loss) for the period before taxes | 9903 | -€43,631 | -€22,289 | +€21,342 | +48.9% |
| Profit (loss) for the period | 9904 | -€43,631 | -€22,289 | +€21,342 | +48.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,631 | -€22,289 | +€21,342 | +48.9% |
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 21 October 2026 via checked.be.