LINVESTS: 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.
What changed
LINVESTS
NACE 68.110, Buying and selling of own real estate
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3,989
2024 · €3,384+€606
Equity
€212,753
2024 · €208,279+€4,474
Cash
€174
2024 · €382-€207
Balance sheet total
€610,593
2024 · €584,715+€25,878
Largest movements
Assets
- Receivables within one year +€30,567
up €30,567 (+23.4%), from €130,568 to €161,135
of which Trade receivables: +€30,567
Equity and liabilities
- Debts after one year +€14,533
up €14,533 (+4.3%), from €337,449 to €351,982
Income statement
- Gross operating margin +€4,621
up €4,621 (+12.2%), from €37,761 to €42,382
- Depreciation +€2,444
up €2,444 (+12.6%), from €19,408 to €21,851
- Taxes +€2,255
up €2,255 (+177.9%), from €1,267 to €3,523
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.
Result 2024
€3,384
Gross operating margin
+€4,621
Depreciation
-€2,444
Other operating charges
+€232
Financial charges
-€34
Taxes
-€2,255
Deferred taxes and other
+€485
Result 2025
€3,989
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.
From operations
-€2,535
Investment
-€17,370
Financing
+€19,698
Cash 2024
€382
From operations (derived)
-€2,535
Net result for the year
+€3,989
Depreciation
+€21,851
Receivables within one year
-€30,567
Provisions
-€969
Trade debts
+€550
Tax, wage and social debts
+€2,610
Investment (derived)
-€17,370
Investment in fixed assets (net)
-€17,370
Financing
+€19,698
Debts after one year
+€14,533
Current portion of long-term debt
+€4,681
Contributions, distributions and other
+€485
Cash 2025
€174
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €584,715 | €610,593 | +€25,878 | +4.4% |
| Fixed assets | 21/28 | €453,765 | €449,284 | -€4,481 | -1.0% |
| Tangible fixed assets | 22/27 | €453,765 | €449,284 | -€4,481 | -1.0% |
| Land and buildings | 22 | €224,300 | €231,221 | +€6,920 | +3.1% |
| Other tangible fixed assets | 26 | €229,465 | €218,064 | -€11,401 | -5.0% |
| Current assets | 29/58 | €130,949 | €161,309 | +€30,360 | +23.2% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €130,568 | €161,135 | +€30,567 | +23.4% |
| Trade receivables | 40 | €130,568 | €161,135 | +€30,567 | +23.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €382 | €174 | -€207 | -54.3% |
| Total equity and liabilities | 10/49 | €584,715 | €610,593 | +€25,878 | +4.4% |
| Equity | 10/15 | €208,279 | €212,753 | +€4,474 | +2.1% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Reserves | 13 | €68,279 | €72,753 | +€4,474 | +6.6% |
| Non-distributable reserves | 130/1 | €195 | €195 | = | 0.0% |
| Reserves not available under the articles | 1311 | €195 | €195 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,388 | €39,511 | -€3,876 | -8.9% |
| Distributable reserves | 133 | €24,696 | €33,046 | +€8,350 | +33.8% |
| Provisions and deferred taxes | 16 | €10,847 | €9,878 | -€969 | -8.9% |
| Deferred taxes | 168 | €10,847 | €9,878 | -€969 | -8.9% |
| Amounts payable | 17/49 | €365,589 | €387,963 | +€22,374 | +6.1% |
| Amounts payable after more than one year | 17 | €337,449 | €351,982 | +€14,533 | +4.3% |
| Financial debts | 170/4 | €337,449 | €351,982 | +€14,533 | +4.3% |
| Amounts payable within one year | 42/48 | €28,140 | €35,981 | +€7,841 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €26,684 | €31,365 | +€4,681 | +17.5% |
| Trade debts | 44 | €0 | €550 | +€550 | |
| Suppliers | 440/4 | €0 | €550 | +€550 | |
| Taxes, remuneration and social security | 45 | €1,456 | €4,066 | +€2,610 | +179.3% |
| Taxes | 450/3 | €1,456 | €4,066 | +€2,610 | +179.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,408 | €21,851 | +€2,444 | +12.6% |
| Other operating charges | 640/8 | €1,564 | €1,332 | -€232 | -14.8% |
| Gross operating margin | 9900 | €37,761 | €42,382 | +€4,621 | +12.2% |
| Operating profit (loss) | 9901 | €16,789 | €19,199 | +€2,410 | +14.4% |
| Financial charges | 65/66B | €12,138 | €12,172 | +€34 | +0.3% |
| Recurring financial charges | 65 | €12,138 | €12,172 | +€34 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €4,651 | €7,027 | +€2,376 | +51.1% |
| Transfer from deferred taxes | 780 | €0 | €485 | +€485 | |
| Income taxes | 67/77 | €1,267 | €3,523 | +€2,255 | +177.9% |
| Profit (loss) for the period | 9904 | €3,384 | €3,989 | +€606 | +17.9% |
| Transfer from tax-exempt reserves | 789 | €0 | €1,938 | +€1,938 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,384 | €5,928 | +€2,544 | +75.2% |
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 9 October 2026 via checked.be.