INVM: 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.
INVM
Largest movements
- Cash -€334,688
down €334,688 (-94.8%), from €353,115 to €18,427
mainly Contributions, distributions and other (-€323,529) and Current investments (-€96,508)
- Current investments +€96,508
up €96,508 (+2172.0%), from €4,443 to €100,951
- Deferred charges and accrued income +€9,890
up €9,890 (+638.8%), from €1,548 to €11,438
- Tangible fixed assets -€4,018
down €4,018 (-10.9%), from €36,905 to €32,888
of which Furniture and vehicles: -€4,927
- Profit (loss) carried forward -€242,641
down €242,641 (-68.1%), from €356,369 to €113,729
- Other debts +€26,720
up €26,720 (+1037.3%), from €2,576 to €29,296
- Tax, wage and social debts -€24,919
down €24,919 (-69.8%), from €35,718 to €10,799
of which Taxes: -€27,571
- Trade debts +€9,719
up €9,719 (+2758.3%), from €352 to €10,072
- Gross operating margin -€22,740
down €22,740 (-16.7%), from €136,216 to €113,476
- Taxes -€7,780
down €7,780 (-26.2%), from €29,718 to €21,938
- Financial charges +€4,020
up €4,020 (+3839.6%), from €105 to €4,125
- Financial income -€3,333
down €3,333 (-39.5%), from €8,440 to €5,107
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 | €396,016 | €164,980 | -€231,036 | -58.3% |
| Fixed assets | 21/28 | €36,905 | €32,888 | -€4,018 | -10.9% |
| Tangible fixed assets | 22/27 | €36,905 | €32,888 | -€4,018 | -10.9% |
| Land and buildings | 22 | €2,171 | €1,680 | -€491 | -22.6% |
| Plant, machinery and equipment | 23 | - | €1,401 | +€1,401 | |
| Furniture and vehicles | 24 | €34,734 | €29,807 | -€4,927 | -14.2% |
| Current assets | 29/58 | €359,110 | €132,092 | -€227,019 | -63.2% |
| Amounts receivable within one year | 40/41 | €4 | €1,275 | +€1,272 | +33113.0% |
| Other amounts receivable | 41 | €4 | €1,275 | +€1,272 | +33113.0% |
| Current investments | 50/53 | €4,443 | €100,951 | +€96,508 | +2172.0% |
| Cash at bank and in hand | 54/58 | €353,115 | €18,427 | -€334,688 | -94.8% |
| Deferred charges and accrued income | 490/1 | €1,548 | €11,438 | +€9,890 | +638.8% |
| Total equity and liabilities | 10/49 | €396,016 | €164,980 | -€231,036 | -58.3% |
| Equity | 10/15 | €357,369 | €114,729 | -€242,641 | -67.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €356,369 | €113,729 | -€242,641 | -68.1% |
| Amounts payable | 17/49 | €38,646 | €50,251 | +€11,605 | +30.0% |
| Amounts payable within one year | 42/48 | €38,646 | €50,166 | +€11,520 | +29.8% |
| Trade debts | 44 | €352 | €10,072 | +€9,719 | +2758.3% |
| Suppliers | 440/4 | €352 | €10,072 | +€9,719 | +2758.3% |
| Taxes, remuneration and social security | 45 | €35,718 | €10,799 | -€24,919 | -69.8% |
| Taxes | 450/3 | €35,718 | €8,147 | -€27,571 | -77.2% |
| Remuneration and social security | 454/9 | - | €2,652 | +€2,652 | |
| Other amounts payable | 47/48 | €2,576 | €29,296 | +€26,720 | +1037.3% |
| Accrued charges and deferred income | 492/3 | - | €85 | +€85 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,838 | €11,041 | +€1,203 | +12.2% |
| Other operating charges | 640/8 | €1,129 | €591 | -€538 | -47.6% |
| Gross operating margin | 9900 | €136,216 | €113,476 | -€22,740 | -16.7% |
| Operating profit (loss) | 9901 | €125,249 | €101,844 | -€23,406 | -18.7% |
| Financial income | 75/76B | €8,440 | €5,107 | -€3,333 | -39.5% |
| Recurring financial income | 75 | €8,440 | €5,107 | -€3,333 | -39.5% |
| Financial charges | 65/66B | €105 | €4,125 | +€4,020 | +3839.6% |
| Recurring financial charges | 65 | €105 | €4,125 | +€4,020 | +3839.6% |
| Profit (loss) for the period before taxes | 9903 | €133,584 | €102,826 | -€30,758 | -23.0% |
| Income taxes | 67/77 | €29,718 | €21,938 | -€7,780 | -26.2% |
| Profit (loss) for the period | 9904 | €103,866 | €80,889 | -€22,978 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | €103,866 | €80,889 | -€22,978 | -22.1% |
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 2 October 2026 via checked.be.