NB Invest: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
NB Invest
Largest movements
- Tangible fixed assets -€505,717
down €505,717 (-80.7%), from €626,469 to €120,752
of which Land and buildings: -€467,281
- Receivables within one year +€394,413
up €394,413 (+76.9%), from €512,713 to €907,127
of which Other amounts receivable: +€522,376
- Stocks and contracts +€160,234
up €160,234 (+3,443%), from €4,654 to €164,888
- Tax, wage and social debts +€159,116
up €159,116 (+548%), from €29,023 to €188,139
- Other debts -€136,345
down €136,345 (-81.1%), from €168,218 to €31,874
- Debts after one year +€117,774
up €117,774 (+105%), from €112,648 to €230,422
- Reserves -€58,022
down €58,022 (-6.7%), from €860,000 to €801,978
- Profit (loss) carried forward -€45,436
no longer reported in 2025 (was €45,436)
- Gross operating margin +€356,465
up €356,465 (+341%), from €104,473 to €460,938
- Financial income -€345,004
down €345,004 (-98.4%), from €350,702 to €5,699
- Taxes +€110,382
up €110,382 (+1,953%), from €5,651 to €116,033
- Financial charges -€14,580
down €14,580 (-57.3%), from €25,438 to €10,858
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 | €1,259,931 | €1,298,187 | +€38,256 | +3.0% |
| Fixed assets | 21/28 | €654,594 | €148,877 | -€505,717 | -77.3% |
| Tangible fixed assets | 22/27 | €626,469 | €120,752 | -€505,717 | -80.7% |
| Land and buildings | 22 | €467,281 | - | -€467,281 | |
| Furniture and vehicles | 24 | €159,188 | €120,752 | -€38,436 | -24.1% |
| Financial fixed assets | 28 | €28,125 | €28,125 | = | 0.0% |
| Current assets | 29/58 | €605,337 | €1,149,310 | +€543,972 | +89.9% |
| Stocks and contracts in progress | 3 | €4,654 | €164,888 | +€160,234 | +3,443% |
| Stocks | 30/36 | €4,654 | €164,888 | +€160,234 | +3,443% |
| Amounts receivable within one year | 40/41 | €512,713 | €907,127 | +€394,413 | +76.9% |
| Trade receivables | 40 | €145,963 | €18,000 | -€127,963 | -87.7% |
| Other amounts receivable | 41 | €366,751 | €889,127 | +€522,376 | +142% |
| Current investments | 50/53 | €59,000 | €59,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €28,970 | €18,295 | -€10,675 | -36.8% |
| Total equity and liabilities | 10/49 | €1,259,931 | €1,298,187 | +€38,256 | +3.0% |
| Equity | 10/15 | €906,436 | €802,978 | -€103,458 | -11.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €860,000 | €801,978 | -€58,022 | -6.7% |
| Distributable reserves | 133 | €860,000 | €801,978 | -€58,022 | -6.7% |
| Profit (loss) carried forward | 14 | €45,436 | - | -€45,436 | |
| Amounts payable | 17/49 | €353,495 | €495,209 | +€141,713 | +40.1% |
| Amounts payable after more than one year | 17 | €112,648 | €230,422 | +€117,774 | +105% |
| Financial debts | 170/4 | €112,648 | €230,422 | +€117,774 | +105% |
| Amounts payable within one year | 42/48 | €240,847 | €264,786 | +€23,939 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €32,061 | €33,251 | +€1,190 | +3.7% |
| Trade debts | 44 | €11,545 | €11,523 | -€22 | -0.2% |
| Suppliers | 440/4 | €11,545 | €11,523 | -€22 | -0.2% |
| Taxes, remuneration and social security | 45 | €29,023 | €188,139 | +€159,116 | +548% |
| Taxes | 450/3 | €29,023 | €188,139 | +€159,116 | +548% |
| Other amounts payable | 47/48 | €168,218 | €31,874 | -€136,345 | -81.1% |
| Non-recurring operating income | 76A | - | €216,100 | +€216,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,287 | €38,436 | -€2,851 | -6.9% |
| Other operating charges | 640/8 | €4,542 | €4,768 | +€226 | +5.0% |
| Gross operating margin | 9900 | €104,473 | €460,938 | +€356,465 | +341% |
| Operating profit (loss) | 9901 | €58,644 | €417,734 | +€359,090 | +612% |
| Financial income | 75/76B | €350,702 | €5,699 | -€345,004 | -98.4% |
| Recurring financial income | 75 | €350,702 | €5,699 | -€345,004 | -98.4% |
| Financial charges | 65/66B | €25,438 | €10,858 | -€14,580 | -57.3% |
| Recurring financial charges | 65 | €25,438 | €10,858 | -€14,580 | -57.3% |
| Profit (loss) for the period before taxes | 9903 | €383,908 | €412,575 | +€28,667 | +7.5% |
| Income taxes | 67/77 | €5,651 | €116,033 | +€110,382 | +1,953% |
| Profit (loss) for the period | 9904 | €378,257 | €296,542 | -€81,715 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €378,257 | €296,542 | -€81,715 | -21.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.