INVICO: 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.
INVICO
Largest movements
- Cash -€7,389
down €7,389 (-53.9%), from €13,697 to €6,308
mainly Investment in fixed assets (net) (-€40,475) and Current portion of long-term debt (-€22,947)
- Tangible fixed assets -€2,803
down €2,803 (-1.4%), from €198,250 to €195,447
of which Other tangible fixed assets: -€3,765
- Reserves +€22,972
up €22,972 (+1199.3%), from €1,915 to €24,888
- Current portion of long-term debt -€22,947
down €22,947 (-93.6%), from €24,527 to €1,579
- Other debts -€16,394
down €16,394 (-18.1%), from €90,464 to €74,070
- Tax, wage and social debts +€4,600
new in 2025: €4,600
- Depreciation -€12,917
down €12,917 (-23.0%), from €56,194 to €43,278
- Gross operating margin +€6,240
up €6,240 (+9.0%), from €69,716 to €75,956
- Taxes +€4,600
up €4,600 (+23001650.0%), from €0 to €4,600
- Financial charges -€1,150
down €1,150 (-67.7%), from €1,698 to €548
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 | €212,619 | €202,459 | -€10,160 | -4.8% |
| Fixed assets | 21/28 | €198,250 | €195,447 | -€2,803 | -1.4% |
| Tangible fixed assets | 22/27 | €198,250 | €195,447 | -€2,803 | -1.4% |
| Land and buildings | 22 | €129,364 | €130,327 | +€963 | +0.7% |
| Other tangible fixed assets | 26 | €68,886 | €65,120 | -€3,765 | -5.5% |
| Current assets | 29/58 | €14,369 | €7,012 | -€7,357 | -51.2% |
| Amounts receivable within one year | 40/41 | €60 | €60 | = | 0.0% |
| Other amounts receivable | 41 | €60 | €60 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €13,697 | €6,308 | -€7,389 | -53.9% |
| Deferred charges and accrued income | 490/1 | €612 | €644 | +€32 | +5.2% |
| Total equity and liabilities | 10/49 | €212,619 | €202,459 | -€10,160 | -4.8% |
| Equity | 10/15 | €88,915 | €111,888 | +€22,972 | +25.8% |
| Contributions | 10/11 | €87,000 | €87,000 | = | 0.0% |
| Reserves | 13 | €1,915 | €24,888 | +€22,972 | +1199.3% |
| Distributable reserves | 133 | €1,915 | €24,888 | +€22,972 | +1199.3% |
| Amounts payable | 17/49 | €123,704 | €90,572 | -€33,132 | -26.8% |
| Amounts payable within one year | 42/48 | €123,636 | €90,567 | -€33,069 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €24,527 | €1,579 | -€22,947 | -93.6% |
| Trade debts | 44 | €8,645 | €10,317 | +€1,673 | +19.3% |
| Suppliers | 440/4 | €8,645 | €10,317 | +€1,673 | +19.3% |
| Taxes, remuneration and social security | 45 | - | €4,600 | +€4,600 | |
| Taxes | 450/3 | - | €4,600 | +€4,600 | |
| Other amounts payable | 47/48 | €90,464 | €74,070 | -€16,394 | -18.1% |
| Accrued charges and deferred income | 492/3 | €68 | €4 | -€63 | -93.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,194 | €43,278 | -€12,917 | -23.0% |
| Other operating charges | 640/8 | €4,706 | €4,558 | -€148 | -3.1% |
| Gross operating margin | 9900 | €69,716 | €75,956 | +€6,240 | +9.0% |
| Operating profit (loss) | 9901 | €8,816 | €28,120 | +€19,305 | +219.0% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,698 | €548 | -€1,150 | -67.7% |
| Recurring financial charges | 65 | €1,698 | €548 | -€1,150 | -67.7% |
| Profit (loss) for the period before taxes | 9903 | €7,118 | €27,573 | +€20,455 | +287.4% |
| Income taxes | 67/77 | €0 | €4,600 | +€4,600 | +23001650.0% |
| Profit (loss) for the period | 9904 | €7,118 | €22,972 | +€15,855 | +222.8% |
| Profit (loss) for the period to be appropriated | 9905 | €7,118 | €22,972 | +€15,855 | +222.8% |
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 30 September 2026 via checked.be.