INVITAT: 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.
INVITAT
Largest movements
- Cash -€878,923
down €878,923 (-67.8%), from €1.3m to €418,220
mainly Other debts (-€876,302) and Receivables within one year (-€519,483)
- Stocks and contracts -€522,791
down €522,791 (-48.1%), from €1.1m to €564,868
- Receivables within one year +€519,483
up €519,483 (+438.0%), from €118,597 to €638,080
of which Other amounts receivable: +€589,350
- Other debts -€876,302
down €876,302 (-55.4%), from €1.6m to €705,088
- Reserves +€147,029
up €147,029 (+42.2%), from €348,773 to €495,801
- Trade debts -€99,130
down €99,130 (-92.0%), from €107,789 to €8,659
- Tax, wage and social debts -€66,531
down €66,531 (-67.4%), from €98,724 to €32,193
- Gross operating margin +€45,937
up €45,937 (+37.4%), from €122,833 to €168,770
- Financial income +€42,595
up €42,595 (+1828.9%), from €2,329 to €44,924
- Taxes +€21,168
up €21,168 (+69.4%), from €30,512 to €51,681
- Financial charges -€13,382
down €13,382 (-92.6%), from €14,453 to €1,071
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 | €2,655,279 | €1,760,357 | -€894,923 | -33.7% |
| Formation expenses | 20 | €11,291 | €10,071 | -€1,221 | -10.8% |
| Fixed assets | 21/28 | €136,930 | €129,117 | -€7,812 | -5.7% |
| Tangible fixed assets | 22/27 | €136,717 | €128,905 | -€7,812 | -5.7% |
| Land and buildings | 22 | €136,717 | €128,905 | -€7,812 | -5.7% |
| Financial fixed assets | 28 | €213 | €213 | = | 0.0% |
| Current assets | 29/58 | €2,507,058 | €1,621,168 | -€885,890 | -35.3% |
| Stocks and contracts in progress | 3 | €1,087,660 | €564,868 | -€522,791 | -48.1% |
| Stocks | 30/36 | €1,087,660 | €564,868 | -€522,791 | -48.1% |
| Amounts receivable within one year | 40/41 | €118,597 | €638,080 | +€519,483 | +438.0% |
| Trade receivables | 40 | €118,597 | €48,731 | -€69,866 | -58.9% |
| Other amounts receivable | 41 | - | €589,350 | +€589,350 | |
| Cash at bank and in hand | 54/58 | €1,297,143 | €418,220 | -€878,923 | -67.8% |
| Deferred charges and accrued income | 490/1 | €3,658 | €0 | -€3,658 | -100.0% |
| Total equity and liabilities | 10/49 | €2,655,279 | €1,760,357 | -€894,923 | -33.7% |
| Equity | 10/15 | €867,365 | €1,014,393 | +€147,029 | +17.0% |
| Contributions | 10/11 | €518,592 | €518,592 | = | 0.0% |
| Reserves | 13 | €348,773 | €495,801 | +€147,029 | +42.2% |
| Distributable reserves | 133 | €348,773 | €495,801 | +€147,029 | +42.2% |
| Amounts payable | 17/49 | €1,787,915 | €745,963 | -€1.0m | -58.3% |
| Amounts payable within one year | 42/48 | €1,787,915 | €745,963 | -€1.0m | -58.3% |
| Financial debts | 43 | €12 | €24 | +€12 | +100.0% |
| Credit institutions | 430/8 | €12 | €24 | +€12 | +100.0% |
| Trade debts | 44 | €107,789 | €8,659 | -€99,130 | -92.0% |
| Suppliers | 440/4 | €107,789 | €8,659 | -€99,130 | -92.0% |
| Taxes, remuneration and social security | 45 | €98,724 | €32,193 | -€66,531 | -67.4% |
| Taxes | 450/3 | €98,724 | €32,193 | -€66,531 | -67.4% |
| Other amounts payable | 47/48 | €1,581,390 | €705,088 | -€876,302 | -55.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,033 | €9,033 | = | 0.0% |
| Other operating charges | 640/8 | €6,218 | €4,880 | -€1,337 | -21.5% |
| Gross operating margin | 9900 | €122,833 | €168,770 | +€45,937 | +37.4% |
| Operating profit (loss) | 9901 | €107,582 | €154,857 | +€47,274 | +43.9% |
| Financial income | 75/76B | €2,329 | €44,924 | +€42,595 | +1828.9% |
| Recurring financial income | 75 | €2,329 | €44,924 | +€42,595 | +1828.9% |
| Financial charges | 65/66B | €14,453 | €1,071 | -€13,382 | -92.6% |
| Recurring financial charges | 65 | €14,453 | €1,071 | -€13,382 | -92.6% |
| Profit (loss) for the period before taxes | 9903 | €95,458 | €198,709 | +€103,251 | +108.2% |
| Income taxes | 67/77 | €30,512 | €51,681 | +€21,168 | +69.4% |
| Profit (loss) for the period | 9904 | €64,946 | €147,029 | +€82,083 | +126.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,946 | €147,029 | +€82,083 | +126.4% |
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 10 October 2026 via checked.be.