INVESTSAP: what changed
Two fiscal 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.
INVESTSAP
Largest movements
- Tangible fixed assets -€8,400
down €8,400 (-3.2%), from €259,810 to €251,410
- Reserves -€9,481
down €9,481 (-23.5%), from €40,283 to €30,803
of which Distributable reserves: -€9,481
- Gross operating margin -€239
down €239 (-5.7%), from €4,209 to €3,971
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.
Cash bridge derived
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 | €262,718 | €252,579 | -€10,139 | -3.9% |
| Fixed assets | 21/28 | €259,810 | €251,410 | -€8,400 | -3.2% |
| Tangible fixed assets | 22/27 | €259,810 | €251,410 | -€8,400 | -3.2% |
| Land and buildings | 22 | €259,810 | €251,410 | -€8,400 | -3.2% |
| Current assets | 29/58 | €2,907 | €1,169 | -€1,739 | -59.8% |
| Cash at bank and in hand | 54/58 | €2,282 | €511 | -€1,771 | -77.6% |
| Deferred charges and accrued income | 490/1 | €625 | €658 | +€33 | +5.2% |
| Total equity and liabilities | 10/49 | €262,718 | €252,579 | -€10,139 | -3.9% |
| Equity | 10/15 | €120,283 | €110,803 | -€9,481 | -7.9% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Capital | 10 | €80,000 | €80,000 | = | 0.0% |
| Issued capital | 100 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €40,283 | €30,803 | -€9,481 | -23.5% |
| Non-distributable reserves | 130/1 | €8,000 | €8,000 | = | 0.0% |
| Legal reserve | 130 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €32,283 | €22,803 | -€9,481 | -29.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €142,434 | €141,776 | -€658 | -0.5% |
| Amounts payable within one year | 42/48 | €142,428 | €141,638 | -€790 | -0.6% |
| Trade debts | 44 | €2,915 | €2,125 | -€790 | -27.1% |
| Suppliers | 440/4 | €2,915 | €2,125 | -€790 | -27.1% |
| Other amounts payable | 47/48 | €139,513 | €139,513 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €6 | €138 | +€132 | +2200.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,400 | €8,400 | = | 0.0% |
| Other operating charges | 640/8 | €5,044 | €5,020 | -€24 | -0.5% |
| Gross operating margin | 9900 | €4,209 | €3,971 | -€239 | -5.7% |
| Operating profit (loss) | 9901 | -€9,234 | -€9,449 | -€215 | -2.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24 | €31 | +€7 | +30.3% |
| Recurring financial charges | 65 | €24 | €31 | +€7 | +30.3% |
| Profit (loss) for the period before taxes | 9903 | -€9,258 | -€9,481 | -€222 | -2.4% |
| Profit (loss) for the period | 9904 | -€9,258 | -€9,481 | -€222 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,258 | -€9,481 | -€222 | -2.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.