IRVESTI: 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.
IRVESTI
Largest movements
- Cash +€585,745
up €585,745 (+678%), from €86,395 to €672,140
mainly Current investments (+€351,843) and Debts after one year (+€155,859)
- Current investments -€351,843
down €351,843 (-79.5%), from €442,316 to €90,474
- Tangible fixed assets -€36,272
down €36,272 (-11.8%), from €307,930 to €271,658
of which Land and buildings: -€24,376
- Debts after one year +€155,859
up €155,859 (+78.4%), from €198,925 to €354,784
- Reserves +€28,695
up €28,695 (+5.0%), from €574,354 to €603,049
- Current portion of long-term debt +€17,541
up €17,541 (+65.9%), from €26,600 to €44,141
- Tax, wage and social debts -€17,290
down €17,290 (-34.9%), from €49,581 to €32,290
of which Taxes: -€14,337
- Gross operating margin -€55,420
down €55,420 (-23.8%), from €233,079 to €177,659
- Taxes -€18,134
down €18,134 (-30.4%), from €59,623 to €41,489
- Financial income +€5,514
up €5,514 (+79.1%), from €6,974 to €12,488
- Depreciation +€3,163
up €3,163 (+9.6%), from €33,109 to €36,272
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 | €878,545 | €1,071,898 | +€193,354 | +22.0% |
| Fixed assets | 21/28 | €307,930 | €271,658 | -€36,272 | -11.8% |
| Tangible fixed assets | 22/27 | €307,930 | €271,658 | -€36,272 | -11.8% |
| Land and buildings | 22 | €260,111 | €235,736 | -€24,376 | -9.4% |
| Plant, machinery and equipment | 23 | €1,158 | €769 | -€388 | -33.5% |
| Furniture and vehicles | 24 | €46,661 | €35,153 | -€11,508 | -24.7% |
| Current assets | 29/58 | €570,615 | €800,241 | +€229,626 | +40.2% |
| Amounts receivable within one year | 40/41 | €35,115 | €36,677 | +€1,561 | +4.4% |
| Trade receivables | 40 | €35,115 | €34,421 | -€694 | -2.0% |
| Other amounts receivable | 41 | - | €2,255 | +€2,255 | |
| Current investments | 50/53 | €442,316 | €90,474 | -€351,843 | -79.5% |
| Cash at bank and in hand | 54/58 | €86,395 | €672,140 | +€585,745 | +678% |
| Deferred charges and accrued income | 490/1 | €6,788 | €950 | -€5,838 | -86.0% |
| Total equity and liabilities | 10/49 | €878,545 | €1,071,898 | +€193,354 | +22.0% |
| Equity | 10/15 | €592,954 | €621,649 | +€28,695 | +4.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €574,354 | €603,049 | +€28,695 | +5.0% |
| Distributable reserves | 133 | €574,354 | €603,049 | +€28,695 | +5.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €285,591 | €450,249 | +€164,658 | +57.7% |
| Amounts payable after more than one year | 17 | €198,925 | €354,784 | +€155,859 | +78.4% |
| Financial debts | 170/4 | €198,925 | €354,784 | +€155,859 | +78.4% |
| Amounts payable within one year | 42/48 | €86,666 | €93,280 | +€6,614 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €26,600 | €44,141 | +€17,541 | +65.9% |
| Trade debts | 44 | €4,103 | €8,320 | +€4,217 | +103% |
| Suppliers | 440/4 | €4,103 | €8,320 | +€4,217 | +103% |
| Taxes, remuneration and social security | 45 | €49,581 | €32,290 | -€17,290 | -34.9% |
| Taxes | 450/3 | €43,145 | €28,808 | -€14,337 | -33.2% |
| Remuneration and social security | 454/9 | €6,436 | €3,483 | -€2,953 | -45.9% |
| Other amounts payable | 47/48 | €6,382 | €8,529 | +€2,147 | +33.6% |
| Accrued charges and deferred income | 492/3 | - | €2,185 | +€2,185 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,109 | €36,272 | +€3,163 | +9.6% |
| Other operating charges | 640/8 | €3,203 | €3,583 | +€380 | +11.9% |
| Gross operating margin | 9900 | €233,079 | €177,659 | -€55,420 | -23.8% |
| Operating profit (loss) | 9901 | €196,767 | €137,804 | -€58,963 | -30.0% |
| Financial income | 75/76B | €6,974 | €12,488 | +€5,514 | +79.1% |
| Recurring financial income | 75 | €6,974 | €12,488 | +€5,514 | +79.1% |
| Financial charges | 65/66B | €6,036 | €5,855 | -€181 | -3.0% |
| Recurring financial charges | 65 | €6,036 | €5,855 | -€181 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €197,705 | €144,437 | -€53,269 | -26.9% |
| Income taxes | 67/77 | €59,623 | €41,489 | -€18,134 | -30.4% |
| Profit (loss) for the period | 9904 | €138,083 | €102,947 | -€35,135 | -25.4% |
| Profit (loss) for the period to be appropriated | 9905 | €138,083 | €102,947 | -€35,135 | -25.4% |
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 13 October 2026 via checked.be.