N. INVEST: what changed
N. INVEST
Largest movements
- Tangible fixed assets +€102,679
up €102,679 (+31.5%), from €325,749 to €428,428
- Receivables within one year -€12,684
down €12,684 (-78.5%), from €16,159 to €3,475
of which Trade receivables: -€13,464
- Cash -€12,566
down €12,566 (-34.4%), from €36,525 to €23,959
mainly Investment in fixed assets (net) (-€114,334) and Trade debts (-€13,349)
- Debts after one year +€71,159
up €71,159 (+122%), from €58,330 to €129,489
- Trade debts -€13,349
down €13,349 (-78.6%), from €16,981 to €3,632
- Reserves +€10,000
up €10,000 (+46.5%), from €21,500 to €31,500
of which Distributable reserves: +€9,500
- Current portion of long-term debt +€9,002
up €9,002 (+63.8%), from €14,112 to €23,115
- Depreciation +€10,402
up €10,402 (+830%), from €1,253 to €11,655
- Financial charges +€2,188
up €2,188 (+67.6%), from €3,236 to €5,424
- Taxes -€1,150
down €1,150 (-53.5%), from €2,150 to €1,000
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 | €379,978 | €457,435 | +€77,457 | +20.4% |
| Fixed assets | 21/28 | €325,749 | €428,428 | +€102,679 | +31.5% |
| Tangible fixed assets | 22/27 | €325,749 | €428,428 | +€102,679 | +31.5% |
| Land and buildings | 22 | €325,749 | €428,428 | +€102,679 | +31.5% |
| Current assets | 29/58 | €54,229 | €29,007 | -€25,222 | -46.5% |
| Amounts receivable within one year | 40/41 | €16,159 | €3,475 | -€12,684 | -78.5% |
| Trade receivables | 40 | €13,464 | - | -€13,464 | |
| Other amounts receivable | 41 | €2,695 | €3,475 | +€780 | +28.9% |
| Cash at bank and in hand | 54/58 | €36,525 | €23,959 | -€12,566 | -34.4% |
| Deferred charges and accrued income | 490/1 | €1,546 | €1,573 | +€28 | +1.8% |
| Total equity and liabilities | 10/49 | €379,978 | €457,435 | +€77,457 | +20.4% |
| Equity | 10/15 | €256,233 | €266,351 | +€10,118 | +3.9% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €21,500 | €31,500 | +€10,000 | +46.5% |
| Non-distributable reserves | 130/1 | €1,076 | €1,576 | +€500 | +46.5% |
| Legal reserve | 130 | €1,076 | €1,576 | +€500 | +46.5% |
| Distributable reserves | 133 | €20,424 | €29,924 | +€9,500 | +46.5% |
| Profit (loss) carried forward | 14 | -€15,267 | -€15,149 | +€118 | +0.8% |
| Amounts payable | 17/49 | €123,745 | €191,084 | +€67,339 | +54.4% |
| Amounts payable after more than one year | 17 | €58,330 | €129,489 | +€71,159 | +122% |
| Financial debts | 170/4 | €58,330 | €129,489 | +€71,159 | +122% |
| Amounts payable within one year | 42/48 | €63,343 | €59,296 | -€4,047 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €14,112 | €23,115 | +€9,002 | +63.8% |
| Trade debts | 44 | €16,981 | €3,632 | -€13,349 | -78.6% |
| Suppliers | 440/4 | €16,981 | €3,632 | -€13,349 | -78.6% |
| Taxes, remuneration and social security | 45 | €2,150 | €1,000 | -€1,150 | -53.5% |
| Taxes | 450/3 | €2,150 | €1,000 | -€1,150 | -53.5% |
| Other amounts payable | 47/48 | €30,100 | €31,550 | +€1,450 | +4.8% |
| Accrued charges and deferred income | 492/3 | €2,071 | €2,298 | +€227 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,253 | €11,655 | +€10,402 | +830% |
| Other operating charges | 640/8 | €3,239 | €3,368 | +€129 | +4.0% |
| Gross operating margin | 9900 | €31,396 | €31,565 | +€168 | +0.5% |
| Operating profit (loss) | 9901 | €26,904 | €16,542 | -€10,363 | -38.5% |
| Financial charges | 65/66B | €3,236 | €5,424 | +€2,188 | +67.6% |
| Recurring financial charges | 65 | €3,236 | €5,424 | +€2,188 | +67.6% |
| Profit (loss) for the period before taxes | 9903 | €23,669 | €11,118 | -€12,551 | -53.0% |
| Income taxes | 67/77 | €2,150 | €1,000 | -€1,150 | -53.5% |
| Profit (loss) for the period | 9904 | €21,519 | €10,118 | -€11,401 | -53.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,519 | €10,118 | -€11,401 | -53.0% |
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 3 November 2026 via checked.be.