INVESTUS: 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
INVESTUS
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€464,759
2024 · €312,358+€152,401
Equity
€1.1m
2024 · €1.5m-€435,241
Cash
€447,942
2024 · €29,673+€418,269
Balance sheet total
€3.8m
2024 · €4.0m-€205,131
Largest movements
Assets
- Stocks and contracts -€586,644
down €586,644 (-29.9%), from €2.0m to €1.4m
- Cash +€418,269
up €418,269 (+1,410%), from €29,673 to €447,942
mainly Stocks and contracts (+€586,644) and Net result for the year (+€464,759)
- Receivables within one year -€69,027
down €69,027 (-7.8%), from €880,400 to €811,373
of which Trade receivables: -€146,080
Equity and liabilities
- Reserves -€435,320
down €435,320 (-39.0%), from €1.1m to €679,995
of which Distributable reserves: -€433,000
- Other debts +€227,059
new in 2025: €227,059
Income statement
- Gross operating margin +€133,651
up €133,651 (+20.6%), from €649,355 to €783,006
- Financial charges -€58,042
down €58,042 (-37.4%), from €155,058 to €97,016
- Taxes +€51,861
up €51,861 (+47.1%), from €110,168 to €162,029
- Financial income +€30,700
up €30,700 (+3,692%), from €832 to €31,532
- Other operating charges +€12,803
up €12,803 (+75.3%), from €17,002 to €29,806
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
€312,358
Gross operating margin
+€133,651
Staff costs
+€1,150
Depreciation
-€10,318
Other operating charges
-€12,803
Other operating items
+€3,840
Financial income
+€30,700
Financial charges
+€58,042
Taxes
-€51,861
Result 2025
€464,759
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
+€1.4m
Investment
-€91,232
Financing
-€868,676
Cash 2024
€29,673
From operations (derived)
+€1.4m
Net result for the year
+€464,759
Depreciation
+€59,983
Stocks and contracts
+€586,644
Receivables within one year
+€69,027
Smaller working-capital items
-€1,794
Trade debts
-€9,000
Tax, wage and social debts
-€18,500
Other debts
+€227,059
Investment (derived)
-€91,232
Investment in fixed assets (net)
-€91,232
Financing
-€868,676
Debts after one year
+€13,000
Current portion of long-term debt
+€4,874
Short-term financial debts
+€13,449
Contributions, distributions and other
-€900,000
Cash 2025
€447,942
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,033,542 | €3,828,411 | -€205,131 | -5.1% |
| Fixed assets | 21/28 | €1,155,249 | €1,186,499 | +€31,249 | +2.7% |
| Tangible fixed assets | 22/27 | €1,154,249 | €1,185,499 | +€31,249 | +2.7% |
| Land and buildings | 22 | €1,146,981 | €1,174,207 | +€27,226 | +2.4% |
| Plant, machinery and equipment | 23 | €6,718 | €6,139 | -€578 | -8.6% |
| Furniture and vehicles | 24 | €550 | €5,152 | +€4,601 | +836% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €2,878,293 | €2,641,912 | -€236,380 | -8.2% |
| Stocks and contracts in progress | 3 | €1,963,690 | €1,377,046 | -€586,644 | -29.9% |
| Stocks | 30/36 | €1,963,690 | €1,377,046 | -€586,644 | -29.9% |
| Amounts receivable within one year | 40/41 | €880,400 | €811,373 | -€69,027 | -7.8% |
| Trade receivables | 40 | €154,080 | €8,000 | -€146,080 | -94.8% |
| Other amounts receivable | 41 | €726,320 | €803,373 | +€77,053 | +10.6% |
| Current investments | 50/53 | €2,175 | €2,175 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €29,673 | €447,942 | +€418,269 | +1,410% |
| Deferred charges and accrued income | 490/1 | €2,355 | €3,376 | +€1,021 | +43.3% |
| Total equity and liabilities | 10/49 | €4,033,542 | €3,828,411 | -€205,131 | -5.1% |
| Equity | 10/15 | €1,496,741 | €1,061,500 | -€435,241 | -29.1% |
| Contributions | 10/11 | €381,000 | €381,000 | = | 0.0% |
| Capital | 10 | €381,000 | €381,000 | = | 0.0% |
| Issued capital | 100 | €381,000 | €381,000 | = | 0.0% |
| Reserves | 13 | €1,115,315 | €679,995 | -€435,320 | -39.0% |
| Non-distributable reserves | 130/1 | €38,100 | €38,100 | = | 0.0% |
| Legal reserve | 130 | €38,100 | €38,100 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,215 | €32,895 | -€2,320 | -6.6% |
| Distributable reserves | 133 | €1,042,000 | €609,000 | -€433,000 | -41.6% |
| Profit (loss) carried forward | 14 | €426 | €505 | +€79 | +18.5% |
| Provisions and deferred taxes | 16 | €11,865 | €11,092 | -€773 | -6.5% |
| Deferred taxes | 168 | €11,865 | €11,092 | -€773 | -6.5% |
| Amounts payable | 17/49 | €2,524,937 | €2,755,819 | +€230,883 | +9.1% |
| Amounts payable after more than one year | 17 | €540,068 | €553,068 | +€13,000 | +2.4% |
| Financial debts | 170/4 | €540,068 | €553,068 | +€13,000 | +2.4% |
| Amounts payable within one year | 42/48 | €1,984,868 | €2,202,751 | +€217,883 | +11.0% |
| Current portion of amounts payable after more than one year | 42 | €54,001 | €58,875 | +€4,874 | +9.0% |
| Financial debts | 43 | €1,868,885 | €1,882,334 | +€13,449 | +0.7% |
| Credit institutions | 430/8 | €1,868,885 | €1,882,334 | +€13,449 | +0.7% |
| Trade debts | 44 | €36,782 | €27,782 | -€9,000 | -24.5% |
| Suppliers | 440/4 | €36,782 | €27,782 | -€9,000 | -24.5% |
| Taxes, remuneration and social security | 45 | €25,200 | €6,700 | -€18,500 | -73.4% |
| Taxes | 450/3 | €25,200 | €6,700 | -€18,500 | -73.4% |
| Other amounts payable | 47/48 | - | €227,059 | +€227,059 | |
| Remuneration, social security and pensions | 62 | €1,910 | €759 | -€1,150 | -60.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,664 | €59,983 | +€10,318 | +20.8% |
| Other operating charges | 640/8 | €17,002 | €29,806 | +€12,803 | +75.3% |
| Non-recurring operating charges | 66A | €4,800 | €960 | -€3,840 | -80.0% |
| Gross operating margin | 9900 | €649,355 | €783,006 | +€133,651 | +20.6% |
| Operating profit (loss) | 9901 | €575,979 | €691,499 | +€115,520 | +20.1% |
| Financial income | 75/76B | €832 | €31,532 | +€30,700 | +3,692% |
| Recurring financial income | 75 | €832 | €31,532 | +€30,700 | +3,692% |
| Financial charges | 65/66B | €155,058 | €97,016 | -€58,042 | -37.4% |
| Recurring financial charges | 65 | €155,058 | €97,016 | -€58,042 | -37.4% |
| Profit (loss) for the period before taxes | 9903 | €421,753 | €626,015 | +€204,262 | +48.4% |
| Transfer from deferred taxes | 780 | €773 | €773 | = | 0.0% |
| Income taxes | 67/77 | €110,168 | €162,029 | +€51,861 | +47.1% |
| Profit (loss) for the period | 9904 | €312,358 | €464,759 | +€152,401 | +48.8% |
| Transfer from tax-exempt reserves | 789 | €2,320 | €2,320 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €314,677 | €467,079 | +€152,401 | +48.4% |
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 26 October 2026 via checked.be.