INVIS: 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.
INVIS
Largest movements
- Financial fixed assets +€1.2m
up €1.2m (+249,000%), from €500 to €1.2m
- Receivables within one year -€356,049
down €356,049 (-26.9%), from €1.3m to €965,126
of which Other amounts receivable: -€375,558
- Current investments -€72,291
down €72,291 (-24.6%), from €294,385 to €222,094
- Tangible fixed assets -€65,642
down €65,642 (-5.5%), from €1.2m to €1.1m
of which Land and buildings: -€41,854
- Other debts +€415,007
up €415,007 (+36.4%), from €1.1m to €1.6m
- Debts after one year +€322,500
new in 2025: €322,500
- Reserves +€37,997
up €37,997 (+3.4%), from €1.1m to €1.2m
of which Distributable reserves: +€37,997
- Accrued charges and deferred income -€36,192
down €36,192 (-94.4%), from €38,342 to €2,150
- Financial income +€30,712
up €30,712 (+86.2%), from €35,632 to €66,345
- Gross operating margin +€25,284
up €25,284 (+12.9%), from €195,371 to €220,656
- Financial charges -€25,195
down €25,195 (-23.9%), from €105,400 to €80,205
- Other operating charges -€13,801
down €13,801 (-74.2%), from €18,596 to €4,794
- Depreciation +€11,354
up €11,354 (+8.4%), from €135,133 to €146,488
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 | €2,825,112 | €3,574,604 | +€749,492 | +26.5% |
| Fixed assets | 21/28 | €1,192,908 | €2,372,267 | +€1.2m | +98.9% |
| Tangible fixed assets | 22/27 | €1,192,408 | €1,126,767 | -€65,642 | -5.5% |
| Land and buildings | 22 | €1,087,350 | €1,045,496 | -€41,854 | -3.8% |
| Plant, machinery and equipment | 23 | €7,729 | €4,813 | -€2,916 | -37.7% |
| Furniture and vehicles | 24 | €97,330 | €76,458 | -€20,872 | -21.4% |
| Financial fixed assets | 28 | €500 | €1,245,500 | +€1.2m | +249,000% |
| Current assets | 29/58 | €1,632,204 | €1,202,337 | -€429,867 | -26.3% |
| Stocks and contracts in progress | 3 | €9,000 | €9,000 | = | 0.0% |
| Stocks | 30/36 | €9,000 | €9,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,321,175 | €965,126 | -€356,049 | -26.9% |
| Trade receivables | 40 | €41,678 | €61,188 | +€19,509 | +46.8% |
| Other amounts receivable | 41 | €1,279,497 | €903,939 | -€375,558 | -29.4% |
| Current investments | 50/53 | €294,385 | €222,094 | -€72,291 | -24.6% |
| Cash at bank and in hand | 54/58 | €2,157 | €772 | -€1,386 | -64.2% |
| Deferred charges and accrued income | 490/1 | €5,486 | €5,345 | -€141 | -2.6% |
| Total equity and liabilities | 10/49 | €2,825,112 | €3,574,604 | +€749,492 | +26.5% |
| Equity | 10/15 | €1,593,916 | €1,631,913 | +€37,997 | +2.4% |
| Contributions | 10/11 | €68,000 | €68,000 | = | 0.0% |
| Capital | 10 | €68,000 | €68,000 | = | 0.0% |
| Issued capital | 100 | €68,000 | €68,000 | = | 0.0% |
| Reserves | 13 | €1,115,143 | €1,153,140 | +€37,997 | +3.4% |
| Non-distributable reserves | 130/1 | €6,800 | €6,800 | = | 0.0% |
| Legal reserve | 130 | €6,800 | €6,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,108,343 | €1,146,340 | +€37,997 | +3.4% |
| Profit (loss) carried forward | 14 | €410,773 | €410,773 | = | 0.0% |
| Amounts payable | 17/49 | €1,231,196 | €1,942,691 | +€711,495 | +57.8% |
| Amounts payable after more than one year | 17 | - | €322,500 | +€322,500 | |
| Financial debts | 170/4 | - | €322,500 | +€322,500 | |
| Amounts payable within one year | 42/48 | €1,192,854 | €1,618,041 | +€425,187 | +35.6% |
| Trade debts | 44 | €12,826 | €22,793 | +€9,968 | +77.7% |
| Suppliers | 440/4 | €12,826 | €22,793 | +€9,968 | +77.7% |
| Taxes, remuneration and social security | 45 | €38,342 | €38,554 | +€212 | +0.6% |
| Taxes | 450/3 | €38,342 | €38,554 | +€212 | +0.6% |
| Other amounts payable | 47/48 | €1,141,686 | €1,556,693 | +€415,007 | +36.4% |
| Accrued charges and deferred income | 492/3 | €38,342 | €2,150 | -€36,192 | -94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,133 | €146,488 | +€11,354 | +8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €18,596 | €4,794 | -€13,801 | -74.2% |
| Non-recurring operating charges | 66A | €3,676 | €0 | -€3,676 | -100% |
| Gross operating margin | 9900 | €195,371 | €220,656 | +€25,284 | +12.9% |
| Operating profit (loss) | 9901 | €37,967 | €69,374 | +€31,407 | +82.7% |
| Financial income | 75/76B | €35,632 | €66,345 | +€30,712 | +86.2% |
| Recurring financial income | 75 | €35,632 | €66,345 | +€30,712 | +86.2% |
| Financial charges | 65/66B | €105,400 | €80,205 | -€25,195 | -23.9% |
| Recurring financial charges | 65 | €105,400 | €80,205 | -€25,195 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | -€31,801 | €55,513 | +€87,314 | |
| Income taxes | 67/77 | €13,358 | €17,517 | +€4,158 | +31.1% |
| Profit (loss) for the period | 9904 | -€45,159 | €37,997 | +€83,156 | |
| Transfer from tax-exempt reserves | 789 | €54,730 | €0 | -€54,730 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €9,571 | €37,997 | +€28,426 | +297% |
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 15 October 2026 via checked.be.