NAMUR INVEST CAPITAL RISQUE: 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
NAMUR INVEST CAPITAL RISQUE
NACE 64.999, Other financial services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€755,488
2024 · €497,072-€1.3m
Equity
€48.1m
2024 · €48.8m-€755,488
Cash
€2.2m
2024 · €1.1m+€1.1m
Balance sheet total
€57.9m
2024 · €60.9m-€3.0m
Largest movements
Assets
- Current investments -€2.7m
down €2.7m (-29.2%), from €9.4m to €6.6m
- Financial fixed assets -€1.3m
down €1.3m (-2.6%), from €50.2m to €48.9m
of which Other financial fixed assets: -€2.6m
- Cash +€1.1m
up €1.1m (+97.2%), from €1.1m to €2.2m
mainly Current investments (+€2.7m) and Investment in fixed assets (net) (+€1.3m)
Equity and liabilities
- Other debts -€2.2m
down €2.2m (-18.5%), from €12.1m to €9.8m
- Profit (loss) carried forward -€755,488
new in 2025: -€755,488
Income statement
- Financial charges +€1.1m
up €1.1m (+126%), from €843,548 to €1.9m
of which Non-recurring financial charges: +€1.1m
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
€497,072
Other operating charges
+€569
Other operating items
-€20,749
Financial income
-€170,085
Financial charges
-€1.1m
Taxes
+€180
Result 2025
-€755,488
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.9m
Investment
+€4.0m
Financing
€0
Cash 2024
€1.1m
From operations (derived)
-€2.9m
Net result for the year
-€755,488
Receivables within one year
-€73,853
Deferred charges and accrued income
+€115,310
Smaller working-capital items
+€534
Other debts
-€2.2m
Investment (derived)
+€4.0m
Investment in fixed assets (net)
+€1.3m
Current investments
+€2.7m
Cash 2025
€2.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,890,866 | €57,907,716 | -€3.0m | -4.9% |
| Fixed assets | 21/28 | €50,161,800 | €48,866,242 | -€1.3m | -2.6% |
| Financial fixed assets | 28 | €50,161,800 | €48,866,242 | -€1.3m | -2.6% |
| Companies linked by participating interests | 282/3 | €4,229,381 | €5,556,207 | +€1.3m | +31.4% |
| Participating interests | 282 | €2,805,332 | €3,607,303 | +€801,972 | +28.6% |
| Amounts receivable | 283 | €1,424,049 | €1,948,903 | +€524,854 | +36.9% |
| Other financial fixed assets | 284/8 | €45,932,420 | €43,310,036 | -€2.6m | -5.7% |
| Shares | 284 | €2,273,832 | €1,980,082 | -€293,750 | -12.9% |
| Amounts receivable and cash guarantees | 285/8 | €43,658,588 | €41,329,954 | -€2.3m | -5.3% |
| Current assets | 29/58 | €10,729,066 | €9,041,473 | -€1.7m | -15.7% |
| Amounts receivable within one year | 40/41 | €13,146 | €86,999 | +€73,853 | +562% |
| Other amounts receivable | 41 | €13,146 | €86,999 | +€73,853 | +562% |
| Current investments | 50/53 | €9,371,207 | €6,632,507 | -€2.7m | -29.2% |
| Other investments | 51/53 | €9,371,207 | €6,632,507 | -€2.7m | -29.2% |
| Cash at bank and in hand | 54/58 | €1,123,911 | €2,216,476 | +€1.1m | +97.2% |
| Deferred charges and accrued income | 490/1 | €220,802 | €105,492 | -€115,310 | -52.2% |
| Total equity and liabilities | 10/49 | €60,890,866 | €57,907,716 | -€3.0m | -4.9% |
| Equity | 10/15 | €48,819,777 | €48,064,289 | -€755,488 | -1.5% |
| Contributions | 10/11 | €48,327,676 | €48,327,676 | = | 0.0% |
| Capital | 10 | €48,327,676 | €48,327,676 | = | 0.0% |
| Issued capital | 100 | €48,327,676 | €48,327,676 | = | 0.0% |
| Reserves | 13 | €492,101 | €492,101 | = | 0.0% |
| Non-distributable reserves | 130/1 | €492,101 | €492,101 | = | 0.0% |
| Legal reserve | 130 | €168,713 | €168,713 | = | 0.0% |
| Reserves not available under the articles | 1311 | €323,388 | €323,388 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€755,488 | -€755,488 | |
| Amounts payable | 17/49 | €12,071,089 | €9,843,427 | -€2.2m | -18.5% |
| Amounts payable within one year | 42/48 | €12,068,048 | €9,838,452 | -€2.2m | -18.5% |
| Trade debts | 44 | €7,267 | €5,867 | -€1,400 | -19.3% |
| Suppliers | 440/4 | €7,267 | €5,867 | -€1,400 | -19.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €12,060,782 | €9,832,585 | -€2.2m | -18.5% |
| Accrued charges and deferred income | 492/3 | €3,041 | €4,975 | +€1,934 | +63.6% |
| Operating income | 70/76A | €28,922 | - | -€28,922 | |
| Non-recurring operating income | 76A | €28,922 | - | -€28,922 | |
| Operating charges | 60/66A | €1,235,362 | €1,226,620 | -€8,742 | -0.7% |
| Services and other goods | 61 | €1,233,228 | €1,226,309 | -€6,918 | -0.6% |
| Other operating charges | 640/8 | €880 | €311 | -€569 | -64.7% |
| Non-recurring operating charges | 66A | €1,255 | - | -€1,255 | |
| Operating profit (loss) | 9901 | -€1,206,440 | -€1,226,620 | -€20,180 | -1.7% |
| Financial income | 75/76B | €2,547,240 | €2,377,156 | -€170,085 | -6.7% |
| Recurring financial income | 75 | €2,402,101 | €2,286,671 | -€115,431 | -4.8% |
| Income from financial fixed assets | 750 | €2,182,482 | €2,197,500 | +€15,019 | +0.7% |
| Income from current assets | 751 | €219,620 | €89,170 | -€130,449 | -59.4% |
| Non-recurring financial income | 76B | €145,139 | €90,485 | -€54,654 | -37.7% |
| Financial charges | 65/66B | €843,548 | €1,906,023 | +€1.1m | +126% |
| Recurring financial charges | 65 | €253,922 | €206,246 | -€47,677 | -18.8% |
| Debt charges | 650 | €238,924 | €191,950 | -€46,974 | -19.7% |
| Other financial charges | 652/9 | €14,998 | €14,295 | -€702 | -4.7% |
| Non-recurring financial charges | 66B | €589,626 | €1,699,778 | +€1.1m | +188% |
| Profit (loss) for the period before taxes | 9903 | €497,252 | -€755,488 | -€1.3m | |
| Income taxes | 67/77 | €180 | - | -€180 | |
| Taxes | 670/3 | €180 | - | -€180 | |
| Profit (loss) for the period | 9904 | €497,072 | -€755,488 | -€1.3m | |
| Profit (loss) for the period to be appropriated | 9905 | €497,072 | -€755,488 | -€1.3m |
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 30 October 2026 via checked.be.