INVISRA: 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.
INVISRA
Largest movements
- Financial fixed assets +€2.5m
up €2.5m (+26.1%), from €9.5m to €12.0m
- Current investments -€436,810
down €436,810 (-26.4%), from €1.7m to €1.2m
- Reserves +€1.8m
up €1.8m, from €0 to €1.8m
- Profit (loss) carried forward +€1.2m
up €1.2m, from -€1.2m to €0
- Other debts -€1.2m
down €1.2m (-92.1%), from €1.3m to €100,000
- Tax, wage and social debts +€170,829
up €170,829 (+3,061%), from €5,581 to €176,409
- Financial income +€2.9m
up €2.9m (+648%), from €446,752 to €3.3m
of which Non-recurring financial income: +€2.5m
- Taxes +€160,860
up €160,860 (+451%), from €35,650 to €196,510
- Gross operating margin -€65,030
down €65,030 (-60.6%), from €107,280 to €42,250
- Financial charges -€45,330
down €45,330 (-40.0%), from €113,326 to €67,995
- Other operating charges -€1,545
down €1,545 (-25.7%), from €6,013 to €4,468
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 | €11,257,565 | €13,301,691 | +€2.0m | +18.2% |
| Fixed assets | 21/28 | €9,528,090 | €12,002,038 | +€2.5m | +26.0% |
| Tangible fixed assets | 22/27 | €23,662 | €20,900 | -€2,763 | -11.7% |
| Plant, machinery and equipment | 23 | €3,829 | €2,355 | -€1,475 | -38.5% |
| Furniture and vehicles | 24 | €17,744 | €17,500 | -€244 | -1.4% |
| Other tangible fixed assets | 26 | €2,089 | €1,045 | -€1,044 | -50.0% |
| Financial fixed assets | 28 | €9,504,428 | €11,981,139 | +€2.5m | +26.1% |
| Current assets | 29/58 | €1,729,475 | €1,299,653 | -€429,822 | -24.9% |
| Amounts receivable within one year | 40/41 | €39,509 | €36,149 | -€3,360 | -8.5% |
| Trade receivables | 40 | €18,755 | €16,335 | -€2,420 | -12.9% |
| Other amounts receivable | 41 | €20,754 | €19,814 | -€940 | -4.5% |
| Current investments | 50/53 | €1,652,668 | €1,215,858 | -€436,810 | -26.4% |
| Cash at bank and in hand | 54/58 | €15,927 | €29,104 | +€13,177 | +82.7% |
| Deferred charges and accrued income | 490/1 | €21,371 | €18,542 | -€2,829 | -13.2% |
| Total equity and liabilities | 10/49 | €11,257,565 | €13,301,691 | +€2.0m | +18.2% |
| Equity | 10/15 | €9,309,039 | €12,322,892 | +€3.0m | +32.4% |
| Contributions | 10/11 | €10,523,718 | €10,523,718 | = | 0.0% |
| Reserves | 13 | €0 | €1,799,174 | +€1.8m | |
| Distributable reserves | 133 | €0 | €1,799,174 | +€1.8m | |
| Profit (loss) carried forward | 14 | -€1,214,679 | €0 | +€1.2m | |
| Amounts payable | 17/49 | €1,948,526 | €978,800 | -€969,727 | -49.8% |
| Amounts payable after more than one year | 17 | €675,000 | €675,000 | = | 0.0% |
| Financial debts | 170/4 | €675,000 | €675,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,266,423 | €276,484 | -€989,939 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €950 | €75 | -€875 | -92.1% |
| Suppliers | 440/4 | €950 | €75 | -€875 | -92.1% |
| Taxes, remuneration and social security | 45 | €5,581 | €176,409 | +€170,829 | +3,061% |
| Taxes | 450/3 | €5,581 | €176,409 | +€170,829 | +3,061% |
| Other amounts payable | 47/48 | €1,259,893 | €100,000 | -€1.2m | -92.1% |
| Accrued charges and deferred income | 492/3 | €7,103 | €27,316 | +€20,213 | +285% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,884 | €2,763 | -€121 | -4.2% |
| Other operating charges | 640/8 | €6,013 | €4,468 | -€1,545 | -25.7% |
| Gross operating margin | 9900 | €107,280 | €42,250 | -€65,030 | -60.6% |
| Operating profit (loss) | 9901 | €98,384 | €35,019 | -€63,364 | -64.4% |
| Financial income | 75/76B | €446,752 | €3,343,339 | +€2.9m | +648% |
| Recurring financial income | 75 | €446,752 | €866,628 | +€419,876 | +94.0% |
| Non-recurring financial income | 76B | - | €2,476,711 | +€2.5m | |
| Financial charges | 65/66B | €113,326 | €67,995 | -€45,330 | -40.0% |
| Recurring financial charges | 65 | €113,326 | €67,995 | -€45,330 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €431,810 | €3,310,363 | +€2.9m | +667% |
| Income taxes | 67/77 | €35,650 | €196,510 | +€160,860 | +451% |
| Profit (loss) for the period | 9904 | €396,160 | €3,113,853 | +€2.7m | +686% |
| Profit (loss) for the period to be appropriated | 9905 | €396,160 | €3,113,853 | +€2.7m | +686% |
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 31 October 2026 via checked.be.