MAINVEST: 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.
MAINVEST
Largest movements
- Current investments +€606,618
up €606,618 (+119.5%), from €507,483 to €1.1m
- Cash -€65,521
down €65,521 (-32.2%), from €203,614 to €138,093
mainly Current investments (-€606,618) and Contributions, distributions and other (-€184,900)
- Tangible fixed assets +€61,150
up €61,150 (+7603.7%), from €804 to €61,955
- Receivables within one year +€60,732
up €60,732 (+37.4%), from €162,186 to €222,918
- Reserves +€656,100
up €656,100 (+111.1%), from €590,300 to €1.2m
- Tax, wage and social debts +€22,071
up €22,071 (+151.1%), from €14,607 to €36,678
- Financial income +€606,054
up €606,054 (+10334.5%), from €5,864 to €611,919
- Gross operating margin +€156,946
up €156,946 (+74.4%), from €210,902 to €367,848
- Taxes +€67,312
up €67,312 (+101.3%), from €66,430 to €133,742
- Depreciation +€5,809
up €5,809 (+813.5%), from €714 to €6,524
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 | €928,435 | €1,592,288 | +€663,853 | +71.5% |
| Fixed assets | 21/28 | €53,330 | €114,481 | +€61,150 | +114.7% |
| Tangible fixed assets | 22/27 | €804 | €61,955 | +€61,150 | +7603.7% |
| Furniture and vehicles | 24 | €804 | €61,955 | +€61,150 | +7603.7% |
| Financial fixed assets | 28 | €52,526 | €52,526 | = | 0.0% |
| Current assets | 29/58 | €875,105 | €1,477,808 | +€602,703 | +68.9% |
| Amounts receivable within one year | 40/41 | €162,186 | €222,918 | +€60,732 | +37.4% |
| Trade receivables | 40 | €162,186 | €222,918 | +€60,732 | +37.4% |
| Current investments | 50/53 | €507,483 | €1,114,100 | +€606,618 | +119.5% |
| Cash at bank and in hand | 54/58 | €203,614 | €138,093 | -€65,521 | -32.2% |
| Deferred charges and accrued income | 490/1 | €1,822 | €2,697 | +€874 | +48.0% |
| Total equity and liabilities | 10/49 | €928,435 | €1,592,288 | +€663,853 | +71.5% |
| Equity | 10/15 | €679,188 | €1,332,027 | +€652,839 | +96.1% |
| Contributions | 10/11 | €84,714 | €84,714 | = | 0.0% |
| Reserves | 13 | €590,300 | €1,246,400 | +€656,100 | +111.1% |
| Distributable reserves | 133 | €590,300 | €1,246,400 | +€656,100 | +111.1% |
| Profit (loss) carried forward | 14 | €4,174 | €913 | -€3,261 | -78.1% |
| Amounts payable | 17/49 | €249,248 | €260,261 | +€11,014 | +4.4% |
| Amounts payable within one year | 42/48 | €249,248 | €260,261 | +€11,014 | +4.4% |
| Trade debts | 44 | €11,258 | €11,637 | +€379 | +3.4% |
| Suppliers | 440/4 | €11,258 | €11,637 | +€379 | +3.4% |
| Taxes, remuneration and social security | 45 | €14,607 | €36,678 | +€22,071 | +151.1% |
| Taxes | 450/3 | €14,607 | €36,678 | +€22,071 | +151.1% |
| Other amounts payable | 47/48 | €223,383 | €211,947 | -€11,436 | -5.1% |
| Non-recurring operating income | 76A | - | €5,528 | +€5,528 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €714 | €6,524 | +€5,809 | +813.5% |
| Other operating charges | 640/8 | €2,242 | €1,681 | -€561 | -25.0% |
| Gross operating margin | 9900 | €210,902 | €367,848 | +€156,946 | +74.4% |
| Operating profit (loss) | 9901 | €207,946 | €359,643 | +€151,698 | +73.0% |
| Financial income | 75/76B | €5,864 | €611,919 | +€606,054 | +10334.5% |
| Recurring financial income | 75 | €5,864 | €611,919 | +€606,054 | +10334.5% |
| Financial charges | 65/66B | €41 | €81 | +€40 | +96.9% |
| Recurring financial charges | 65 | €41 | €81 | +€40 | +96.9% |
| Profit (loss) for the period before taxes | 9903 | €213,769 | €971,481 | +€757,712 | +354.5% |
| Income taxes | 67/77 | €66,430 | €133,742 | +€67,312 | +101.3% |
| Profit (loss) for the period | 9904 | €147,339 | €837,739 | +€690,400 | +468.6% |
| Profit (loss) for the period to be appropriated | 9905 | €147,339 | €837,739 | +€690,400 | +468.6% |
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 4 October 2026 via checked.be.