INVESTRAM: what changed
INVESTRAM
Largest movements
- Tangible fixed assets +€435,515
up €435,515 (+134%), from €324,010 to €759,525
- Cash +€132,317
up €132,317 (+633%), from €20,906 to €153,223
mainly Debts after one year (+€330,554) and Accrued charges and deferred income (+€151,747)
- Stocks and contracts -€32,911
down €32,911 (-5.3%), from €615,298 to €582,387
- Debts after one year +€330,554
new in 2025: €330,554
- Accrued charges and deferred income +€151,747
up €151,747 (+15,684%), from €968 to €152,714
- Other debts +€75,000
up €75,000 (+21.2%), from €353,290 to €428,290
- Profit (loss) carried forward -€32,703
down €32,703 (-5.0%), from €659,953 to €627,250
- Depreciation +€14,927
up €14,927 (+126%), from €11,807 to €26,735
- Financial charges +€10,106
up €10,106 (+589%), from €1,715 to €11,821
- Other operating charges +€1,106
up €1,106 (+63.1%), from €1,751 to €2,857
- Gross operating margin -€541
down €541 (-5.9%), from €9,251 to €8,709
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,264,999 | €1,799,920 | +€534,921 | +42.3% |
| Fixed assets | 21/28 | €324,010 | €759,525 | +€435,515 | +134% |
| Tangible fixed assets | 22/27 | €324,010 | €759,525 | +€435,515 | +134% |
| Land and buildings | 22 | €324,010 | €759,525 | +€435,515 | +134% |
| Current assets | 29/58 | €940,989 | €1,040,395 | +€99,407 | +10.6% |
| Stocks and contracts in progress | 3 | €615,298 | €582,387 | -€32,911 | -5.3% |
| Stocks | 30/36 | €615,298 | €582,387 | -€32,911 | -5.3% |
| Amounts receivable within one year | 40/41 | €304,786 | €304,786 | = | 0.0% |
| Other amounts receivable | 41 | €304,786 | €304,786 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €20,906 | €153,223 | +€132,317 | +633% |
| Total equity and liabilities | 10/49 | €1,264,999 | €1,799,920 | +€534,921 | +42.3% |
| Equity | 10/15 | €909,953 | €877,250 | -€32,703 | -3.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €659,953 | €627,250 | -€32,703 | -5.0% |
| Amounts payable | 17/49 | €355,046 | €922,670 | +€567,624 | +160% |
| Amounts payable after more than one year | 17 | - | €330,554 | +€330,554 | |
| Financial debts | 170/4 | - | €330,554 | +€330,554 | |
| Amounts payable within one year | 42/48 | €354,078 | €439,402 | +€85,324 | +24.1% |
| Current portion of amounts payable after more than one year | 42 | - | €11,112 | +€11,112 | |
| Trade debts | 44 | €788 | - | -€788 | |
| Suppliers | 440/4 | €788 | - | -€788 | |
| Other amounts payable | 47/48 | €353,290 | €428,290 | +€75,000 | +21.2% |
| Accrued charges and deferred income | 492/3 | €968 | €152,714 | +€151,747 | +15,684% |
| Non-recurring operating income | 76A | €100 | €3,658 | +€3,558 | +3,558% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,807 | €26,735 | +€14,927 | +126% |
| Other operating charges | 640/8 | €1,751 | €2,857 | +€1,106 | +63.1% |
| Gross operating margin | 9900 | €9,251 | €8,709 | -€541 | -5.9% |
| Operating profit (loss) | 9901 | -€4,308 | -€20,882 | -€16,574 | -385% |
| Financial charges | 65/66B | €1,715 | €11,821 | +€10,106 | +589% |
| Recurring financial charges | 65 | €1,715 | €11,821 | +€10,106 | +589% |
| Profit (loss) for the period before taxes | 9903 | -€6,023 | -€32,703 | -€26,680 | -443% |
| Profit (loss) for the period | 9904 | -€6,023 | -€32,703 | -€26,680 | -443% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,023 | -€32,703 | -€26,680 | -443% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.