Nine 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.
Nine Invest
Largest movements
- Tangible fixed assets -€16,120
down €16,120 (-3.3%), from €494,611 to €478,490
of which Land and buildings: -€13,317
- Debts after one year -€19,876
down €19,876 (-4.3%), from €464,968 to €445,092
- Depreciation -€60,277
down €60,277 (-78.9%), from €76,397 to €16,120
- Gross operating margin +€11,268
up €11,268 (+38.1%), from €29,561 to €40,829
- Financial charges +€4,546
up €4,546 (+24.9%), from €18,263 to €22,809
- Other operating charges +€807
up €807 (+52.1%), from €1,549 to €2,356
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 | €503,225 | €482,889 | -€20,336 | -4.0% |
| Fixed assets | 21/28 | €494,611 | €478,490 | -€16,120 | -3.3% |
| Tangible fixed assets | 22/27 | €494,611 | €478,490 | -€16,120 | -3.3% |
| Land and buildings | 22 | €469,558 | €456,242 | -€13,317 | -2.8% |
| Other tangible fixed assets | 26 | €25,052 | €22,248 | -€2,804 | -11.2% |
| Current assets | 29/58 | €8,614 | €4,399 | -€4,216 | -48.9% |
| Cash at bank and in hand | 54/58 | €5,565 | €4,399 | -€1,166 | -21.0% |
| Deferred charges and accrued income | 490/1 | €3,049 | - | -€3,049 | |
| Total equity and liabilities | 10/49 | €503,225 | €482,889 | -€20,336 | -4.0% |
| Equity | 10/15 | -€65,648 | -€66,103 | -€455 | -0.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,648 | -€67,103 | -€455 | -0.7% |
| Amounts payable | 17/49 | €568,873 | €548,992 | -€19,881 | -3.5% |
| Amounts payable after more than one year | 17 | €464,968 | €445,092 | -€19,876 | -4.3% |
| Financial debts | 170/4 | €464,968 | €445,092 | -€19,876 | -4.3% |
| Amounts payable within one year | 42/48 | €103,905 | €103,900 | -€5 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €19,678 | €19,876 | +€197 | +1.0% |
| Trade debts | 44 | €1,391 | - | -€1,391 | |
| Suppliers | 440/4 | €1,391 | - | -€1,391 | |
| Taxes, remuneration and social security | 45 | €434 | - | -€434 | |
| Taxes | 450/3 | €434 | - | -€434 | |
| Other amounts payable | 47/48 | €82,403 | €84,025 | +€1,622 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,397 | €16,120 | -€60,277 | -78.9% |
| Other operating charges | 640/8 | €1,549 | €2,356 | +€807 | +52.1% |
| Gross operating margin | 9900 | €29,561 | €40,829 | +€11,268 | +38.1% |
| Operating profit (loss) | 9901 | -€48,385 | €22,353 | +€70,738 | |
| Financial charges | 65/66B | €18,263 | €22,809 | +€4,546 | +24.9% |
| Recurring financial charges | 65 | €18,263 | €22,809 | +€4,546 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | -€66,648 | -€455 | +€66,192 | +99.3% |
| Profit (loss) for the period | 9904 | -€66,648 | -€455 | +€66,192 | +99.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€66,648 | -€455 | +€66,192 | +99.3% |
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 26 October 2026 via checked.be.