LABEL-INVEST: what changed
LABEL-INVEST
Largest movements
- Cash +€107,959
up €107,959 (+37.0%), from €291,581 to €399,539
mainly Net result for the year (+€125,324) and Trade debts (+€22,192)
- Tangible fixed assets -€12,864
down €12,864 (-9.6%), from €134,339 to €121,475
- Receivables within one year +€9,580
up €9,580 (+279%), from €3,430 to €13,010
of which Trade receivables: +€10,190
- Reserves +€80,000
up €80,000 (+38.1%), from €210,000 to €290,000
- Trade debts +€22,192
up €22,192 (+35.3%), from €62,926 to €85,118
- Debts after one year -€13,181
down €13,181 (-23.6%), from €55,949 to €42,768
- Other debts +€11,423
up €11,423 (+24.6%), from €46,460 to €57,883
- Tax, wage and social debts +€8,323
up €8,323 (+19.2%), from €43,308 to €51,631
of which Remuneration and social security: +€11,357
- Gross operating margin +€63,282
up €63,282 (+24.1%), from €263,015 to €326,296
- Staff costs +€15,180
up €15,180 (+12.5%), from €121,284 to €136,464
- Taxes +€11,169
up €11,169 (+29.0%), from €38,483 to €49,652
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €446,645 | €547,703 | +€101,058 | +22.6% |
| Fixed assets | 21/28 | €147,173 | €132,309 | -€14,864 | -10.1% |
| Intangible fixed assets | 21 | €12,833 | €10,833 | -€2,000 | -15.6% |
| Tangible fixed assets | 22/27 | €134,339 | €121,475 | -€12,864 | -9.6% |
| Land and buildings | 22 | €101,032 | €95,612 | -€5,421 | -5.4% |
| Plant, machinery and equipment | 23 | €31,745 | €25,864 | -€5,881 | -18.5% |
| Furniture and vehicles | 24 | €1,563 | - | -€1,563 | |
| Current assets | 29/58 | €299,473 | €415,395 | +€115,922 | +38.7% |
| Stocks and contracts in progress | 3 | €4,463 | €2,846 | -€1,617 | -36.2% |
| Stocks | 30/36 | €4,463 | €2,846 | -€1,617 | -36.2% |
| Amounts receivable within one year | 40/41 | €3,430 | €13,010 | +€9,580 | +279% |
| Trade receivables | 40 | €2,820 | €13,010 | +€10,190 | +361% |
| Other amounts receivable | 41 | €610 | - | -€610 | |
| Cash at bank and in hand | 54/58 | €291,581 | €399,539 | +€107,959 | +37.0% |
| Total equity and liabilities | 10/49 | €446,645 | €547,703 | +€101,058 | +22.6% |
| Equity | 10/15 | €221,798 | €297,122 | +€75,324 | +34.0% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €210,000 | €290,000 | +€80,000 | +38.1% |
| Distributable reserves | 133 | €210,000 | €290,000 | +€80,000 | +38.1% |
| Profit (loss) carried forward | 14 | €7,798 | €3,122 | -€4,676 | -60.0% |
| Amounts payable | 17/49 | €224,848 | €250,582 | +€25,734 | +11.4% |
| Amounts payable after more than one year | 17 | €55,949 | €42,768 | -€13,181 | -23.6% |
| Financial debts | 170/4 | €55,949 | €42,768 | -€13,181 | -23.6% |
| Amounts payable within one year | 42/48 | €168,898 | €207,814 | +€38,915 | +23.0% |
| Current portion of amounts payable after more than one year | 42 | €15,987 | €13,181 | -€2,806 | -17.6% |
| Trade debts | 44 | €62,926 | €85,118 | +€22,192 | +35.3% |
| Suppliers | 440/4 | €62,926 | €85,118 | +€22,192 | +35.3% |
| Advances received on contracts in progress | 46 | €217 | - | -€217 | |
| Taxes, remuneration and social security | 45 | €43,308 | €51,631 | +€8,323 | +19.2% |
| Taxes | 450/3 | €35,933 | €32,900 | -€3,033 | -8.4% |
| Remuneration and social security | 454/9 | €7,375 | €18,731 | +€11,357 | +154% |
| Other amounts payable | 47/48 | €46,460 | €57,883 | +€11,423 | +24.6% |
| Remuneration, social security and pensions | 62 | €121,284 | €136,464 | +€15,180 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,494 | €14,864 | -€2,630 | -15.0% |
| Other operating charges | 640/8 | €1,862 | €2,246 | +€384 | +20.6% |
| Gross operating margin | 9900 | €263,015 | €326,296 | +€63,282 | +24.1% |
| Operating profit (loss) | 9901 | €122,374 | €172,722 | +€50,348 | +41.1% |
| Financial income | 75/76B | €668 | €3,922 | +€3,253 | +487% |
| Recurring financial income | 75 | €668 | €3,922 | +€3,253 | +487% |
| Financial charges | 65/66B | €2,022 | €1,668 | -€353 | -17.5% |
| Recurring financial charges | 65 | €2,022 | €1,668 | -€353 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €121,021 | €174,975 | +€53,954 | +44.6% |
| Income taxes | 67/77 | €38,483 | €49,652 | +€11,169 | +29.0% |
| Profit (loss) for the period | 9904 | €82,538 | €125,324 | +€42,786 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €82,538 | €125,324 | +€42,786 | +51.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.