MR Invest: 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.
MR Invest
Largest movements
- Stocks and contracts -€1.2m
down €1.2m (-65.1%), from €1.9m to €654,240
- Cash +€710,602
up €710,602 (+660%), from €107,673 to €818,275
mainly Stocks and contracts (+€1.2m) and Other debts (+€355,395)
- Receivables within one year +€77,681
up €77,681 (+1,206%), from €6,444 to €84,125
of which Trade receivables: +€78,435
- Tangible fixed assets -€33,560
down €33,560 (-4.5%), from €747,705 to €714,145
- Short-term financial debts -€951,695
down €951,695 (-64.5%), from €1.5m to €522,737
- Other debts +€355,395
up €355,395 (+49.2%), from €721,755 to €1.1m
- Reserves +€149,379
new in 2025: €149,379
- Gross operating margin +€205,134
up €205,134 (+235%), from €87,283 to €292,417
- Taxes +€46,133
new in 2025: €46,133
- Financial charges +€15,951
up €15,951 (+42.3%), from €37,709 to €53,660
- Depreciation +€10,039
up €10,039 (+42.1%), from €23,825 to €33,864
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 | €2,739,591 | €2,273,127 | -€466,463 | -17.0% |
| Fixed assets | 21/28 | €748,710 | €714,846 | -€33,864 | -4.5% |
| Intangible fixed assets | 21 | €1,005 | €701 | -€304 | -30.2% |
| Tangible fixed assets | 22/27 | €747,705 | €714,145 | -€33,560 | -4.5% |
| Land and buildings | 22 | €747,705 | €714,145 | -€33,560 | -4.5% |
| Current assets | 29/58 | €1,990,881 | €1,558,281 | -€432,600 | -21.7% |
| Stocks and contracts in progress | 3 | €1,876,513 | €654,240 | -€1.2m | -65.1% |
| Stocks | 30/36 | €1,876,513 | €654,240 | -€1.2m | -65.1% |
| Amounts receivable within one year | 40/41 | €6,444 | €84,125 | +€77,681 | +1,206% |
| Trade receivables | 40 | €5,690 | €84,125 | +€78,435 | +1,379% |
| Other amounts receivable | 41 | €754 | €0 | -€754 | -100% |
| Cash at bank and in hand | 54/58 | €107,673 | €818,275 | +€710,602 | +660% |
| Deferred charges and accrued income | 490/1 | €251 | €1,642 | +€1,391 | +555% |
| Total equity and liabilities | 10/49 | €2,739,591 | €2,273,127 | -€466,463 | -17.0% |
| Equity | 10/15 | -€1,639 | €152,379 | +€154,018 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €149,379 | +€149,379 | |
| Distributable reserves | 133 | - | €149,379 | +€149,379 | |
| Profit (loss) carried forward | 14 | -€4,639 | €0 | +€4,639 | |
| Amounts payable | 17/49 | €2,741,230 | €2,120,748 | -€620,481 | -22.6% |
| Amounts payable after more than one year | 17 | €453,300 | €434,235 | -€19,065 | -4.2% |
| Financial debts | 170/4 | €452,430 | €433,365 | -€19,065 | -4.2% |
| Other amounts payable | 178/9 | €870 | €870 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,271,065 | €1,664,895 | -€606,170 | -26.7% |
| Current portion of amounts payable after more than one year | 42 | €18,383 | €19,065 | +€682 | +3.7% |
| Financial debts | 43 | €1,474,432 | €522,737 | -€951,695 | -64.5% |
| Credit institutions | 430/8 | €1,474,432 | €522,737 | -€951,695 | -64.5% |
| Trade debts | 44 | €42,368 | €34,867 | -€7,501 | -17.7% |
| Suppliers | 440/4 | €42,368 | €34,867 | -€7,501 | -17.7% |
| Taxes, remuneration and social security | 45 | €14,128 | €11,076 | -€3,052 | -21.6% |
| Taxes | 450/3 | €14,128 | €11,076 | -€3,052 | -21.6% |
| Other amounts payable | 47/48 | €721,755 | €1,077,150 | +€355,395 | +49.2% |
| Accrued charges and deferred income | 492/3 | €16,865 | €21,618 | +€4,754 | +28.2% |
| Non-recurring operating income | 76A | €48,609 | €0 | -€48,609 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,825 | €33,864 | +€10,039 | +42.1% |
| Other operating charges | 640/8 | €4,647 | €4,980 | +€333 | +7.2% |
| Gross operating margin | 9900 | €87,283 | €292,417 | +€205,134 | +235% |
| Operating profit (loss) | 9901 | €58,811 | €253,573 | +€194,762 | +331% |
| Financial income | 75/76B | €1,423 | €238 | -€1,185 | -83.3% |
| Recurring financial income | 75 | €1,423 | €238 | -€1,185 | -83.3% |
| Financial charges | 65/66B | €37,709 | €53,660 | +€15,951 | +42.3% |
| Recurring financial charges | 65 | €37,709 | €53,660 | +€15,951 | +42.3% |
| Profit (loss) for the period before taxes | 9903 | €22,525 | €200,151 | +€177,626 | +789% |
| Income taxes | 67/77 | - | €46,133 | +€46,133 | |
| Profit (loss) for the period | 9904 | €22,525 | €154,018 | +€131,493 | +584% |
| Profit (loss) for the period to be appropriated | 9905 | €22,525 | €154,018 | +€131,493 | +584% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.