Invisible Web: 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.
Invisible Web
Largest movements
- Current investments +€301,028
up €301,028, from €0 to €301,028
- Cash -€185,689
down €185,689 (-56.4%), from €329,467 to €143,778
mainly Current investments (-€301,028) and Accrued charges and deferred income (-€14,209)
- Receivables within one year -€83,850
down €83,850 (-80.5%), from €104,103 to €20,253
of which Trade receivables: -€71,754
- Reserves +€41,024
up €41,024 (+1.1%), from €3.7m to €3.8m
- Gross operating margin -€83,854
down €83,854 (-52.0%), from €161,208 to €77,354
- Financial charges -€12,785
down €12,785 (-89.4%), from €14,301 to €1,516
- Taxes +€4,710
up €4,710 (+25.0%), from €18,838 to €23,548
- Staff costs +€1,894
new in 2025: €1,894
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 | €3,776,493 | €3,807,607 | +€31,114 | +0.8% |
| Fixed assets | 21/28 | €3,262,635 | €3,257,395 | -€5,239 | -0.2% |
| Tangible fixed assets | 22/27 | €49,038 | €43,799 | -€5,239 | -10.7% |
| Land and buildings | 22 | €28,737 | €27,731 | -€1,006 | -3.5% |
| Plant, machinery and equipment | 23 | €11,217 | €5,424 | -€5,792 | -51.6% |
| Furniture and vehicles | 24 | €9,084 | €10,643 | +€1,559 | +17.2% |
| Financial fixed assets | 28 | €3,213,596 | €3,213,596 | = | 0.0% |
| Current assets | 29/58 | €513,858 | €550,212 | +€36,353 | +7.1% |
| Amounts receivable after more than one year | 29 | €78,900 | €83,400 | +€4,500 | +5.7% |
| Other amounts receivable | 291 | €78,900 | €83,400 | +€4,500 | +5.7% |
| Amounts receivable within one year | 40/41 | €104,103 | €20,253 | -€83,850 | -80.5% |
| Trade receivables | 40 | €91,064 | €19,310 | -€71,754 | -78.8% |
| Other amounts receivable | 41 | €13,039 | €943 | -€12,096 | -92.8% |
| Current investments | 50/53 | €0 | €301,028 | +€301,028 | |
| Cash at bank and in hand | 54/58 | €329,467 | €143,778 | -€185,689 | -56.4% |
| Deferred charges and accrued income | 490/1 | €1,388 | €1,753 | +€364 | +26.2% |
| Total equity and liabilities | 10/49 | €3,776,493 | €3,807,607 | +€31,114 | +0.8% |
| Equity | 10/15 | €3,721,353 | €3,762,377 | +€41,024 | +1.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,715,153 | €3,756,177 | +€41,024 | +1.1% |
| Distributable reserves | 133 | €3,715,153 | €3,756,177 | +€41,024 | +1.1% |
| Amounts payable | 17/49 | €55,139 | €45,230 | -€9,910 | -18.0% |
| Amounts payable within one year | 42/48 | €40,931 | €45,230 | +€4,299 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €0 | -€6,000 | -100.0% |
| Financial debts | 43 | - | €6,000 | +€6,000 | |
| Credit institutions | 430/8 | - | €6,000 | +€6,000 | |
| Trade debts | 44 | €18,288 | €7,161 | -€11,127 | -60.8% |
| Suppliers | 440/4 | €18,288 | €7,161 | -€11,127 | -60.8% |
| Taxes, remuneration and social security | 45 | €15,211 | €14,434 | -€778 | -5.1% |
| Taxes | 450/3 | €15,211 | €14,434 | -€778 | -5.1% |
| Other amounts payable | 47/48 | €1,431 | €17,635 | +€16,203 | +1132.0% |
| Accrued charges and deferred income | 492/3 | €14,209 | €0 | -€14,209 | -100.0% |
| Non-recurring operating income | 76A | €123,210 | €0 | -€123,210 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €1,894 | +€1,894 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,314 | €13,879 | +€1,565 | +12.7% |
| Other operating charges | 640/8 | €2,361 | €1,480 | -€882 | -37.3% |
| Gross operating margin | 9900 | €161,208 | €77,354 | -€83,854 | -52.0% |
| Operating profit (loss) | 9901 | €146,533 | €60,102 | -€86,431 | -59.0% |
| Financial income | 75/76B | €6,368 | €5,986 | -€382 | -6.0% |
| Recurring financial income | 75 | €6,368 | €5,986 | -€382 | -6.0% |
| Financial charges | 65/66B | €14,301 | €1,516 | -€12,785 | -89.4% |
| Recurring financial charges | 65 | €14,301 | €1,516 | -€12,785 | -89.4% |
| Profit (loss) for the period before taxes | 9903 | €138,599 | €64,572 | -€74,027 | -53.4% |
| Income taxes | 67/77 | €18,838 | €23,548 | +€4,710 | +25.0% |
| Profit (loss) for the period | 9904 | €119,761 | €41,024 | -€78,737 | -65.7% |
| Profit (loss) for the period to be appropriated | 9905 | €119,761 | €41,024 | -€78,737 | -65.7% |
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 5 October 2026 via checked.be.