M - INVEST: what changed
M - INVEST
Largest movements
- Tangible fixed assets -€3,150
down €3,150 (-8.6%), from €36,663 to €33,514
- Cash +€2,426
up €2,426 (+7.0%), from €34,574 to €37,000
mainly Net result for the year (+€6,803) and Depreciation (+€3,150)
- Profit (loss) carried forward +€6,803
up €6,803 (+10.2%), from -€66,898 to -€60,095
- Other debts -€3,971
down €3,971 (-2.4%), from €168,827 to €164,856
- Tax, wage and social debts -€3,106
no longer reported in 2025 (was €3,106)
- Gross operating margin +€1,841
up €1,841 (+17.8%), from €10,342 to €12,183
- Other operating charges +€456
up €456 (+27.0%), from €1,687 to €2,143
- Depreciation +€158
up €158 (+5.3%), from €2,992 to €3,150
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 | €175,093 | €175,729 | +€636 | +0.4% |
| Fixed assets | 21/28 | €36,663 | €33,514 | -€3,150 | -8.6% |
| Tangible fixed assets | 22/27 | €36,663 | €33,514 | -€3,150 | -8.6% |
| Land and buildings | 22 | €36,663 | €33,514 | -€3,150 | -8.6% |
| Current assets | 29/58 | €138,429 | €142,215 | +€3,786 | +2.7% |
| Stocks and contracts in progress | 3 | €103,096 | €103,096 | = | 0.0% |
| Stocks | 30/36 | €103,096 | €103,096 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €759 | €2,119 | +€1,360 | +179% |
| Trade receivables | 40 | €182 | €191 | +€9 | +4.9% |
| Other amounts receivable | 41 | €577 | €1,928 | +€1,351 | +234% |
| Cash at bank and in hand | 54/58 | €34,574 | €37,000 | +€2,426 | +7.0% |
| Total equity and liabilities | 10/49 | €175,093 | €175,729 | +€636 | +0.4% |
| Equity | 10/15 | -€4,898 | €1,905 | +€6,803 | |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,898 | -€60,095 | +€6,803 | +10.2% |
| Amounts payable | 17/49 | €179,991 | €173,824 | -€6,167 | -3.4% |
| Amounts payable after more than one year | 17 | €8,000 | €8,000 | = | 0.0% |
| Financial debts | 170/4 | €8,000 | €8,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €171,991 | €165,824 | -€6,167 | -3.6% |
| Trade debts | 44 | €58 | €968 | +€910 | +1,569% |
| Suppliers | 440/4 | €58 | €968 | +€910 | +1,569% |
| Taxes, remuneration and social security | 45 | €3,106 | - | -€3,106 | |
| Taxes | 450/3 | €3,106 | - | -€3,106 | |
| Other amounts payable | 47/48 | €168,827 | €164,856 | -€3,971 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,992 | €3,150 | +€158 | +5.3% |
| Other operating charges | 640/8 | €1,687 | €2,143 | +€456 | +27.0% |
| Gross operating margin | 9900 | €10,342 | €12,183 | +€1,841 | +17.8% |
| Operating profit (loss) | 9901 | €5,663 | €6,891 | +€1,227 | +21.7% |
| Financial charges | 65/66B | €114 | €87 | -€26 | -23.1% |
| Recurring financial charges | 65 | €114 | €87 | -€26 | -23.1% |
| Profit (loss) for the period before taxes | 9903 | €5,550 | €6,803 | +€1,253 | +22.6% |
| Profit (loss) for the period | 9904 | €5,550 | €6,803 | +€1,253 | +22.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,550 | €6,803 | +€1,253 | +22.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.