PE 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.
PE Invest
Largest movements
- Tangible fixed assets +€1.9m
up €1.9m (+282%), from €656,865 to €2.5m
- Receivables within one year +€36,284
new in 2025: €36,284
- Debts after one year +€1.6m
up €1.6m (+232%), from €695,606 to €2.3m
- Revaluation surpluses +€337,976
new in 2025: €337,976
- Profit (loss) carried forward -€109,416
down €109,416 (-130%), from -€83,985 to -€193,400
- Current portion of long-term debt +€58,132
up €58,132 (+136%), from €42,593 to €100,724
- Gross operating margin +€85,868
up €85,868, from -€25,218 to €60,649
- Financial charges +€40,725
up €40,725 (+243%), from €16,756 to €57,481
- Other operating charges +€36,103
up €36,103 (+125%), from €28,876 to €64,979
- Depreciation +€34,471
up €34,471 (+262%), from €13,135 to €47,605
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 | €663,862 | €2,564,554 | +€1.9m | +286% |
| Fixed assets | 21/28 | €656,865 | €2,512,195 | +€1.9m | +282% |
| Tangible fixed assets | 22/27 | €656,865 | €2,511,695 | +€1.9m | +282% |
| Land and buildings | 22 | €656,865 | €2,511,695 | +€1.9m | +282% |
| Financial fixed assets | 28 | - | €500 | +€500 | |
| Current assets | 29/58 | €6,997 | €52,359 | +€45,363 | +648% |
| Amounts receivable within one year | 40/41 | - | €36,284 | +€36,284 | |
| Trade receivables | 40 | - | €36,284 | +€36,284 | |
| Cash at bank and in hand | 54/58 | €6,997 | €15,675 | +€8,678 | +124% |
| Deferred charges and accrued income | 490/1 | - | €400 | +€400 | |
| Total equity and liabilities | 10/49 | €663,862 | €2,564,554 | +€1.9m | +286% |
| Equity | 10/15 | -€82,985 | €145,600 | +€228,584 | |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €337,976 | +€337,976 | |
| Reserves | 13 | - | €24 | +€24 | |
| Distributable reserves | 133 | - | €24 | +€24 | |
| Profit (loss) carried forward | 14 | -€83,985 | -€193,400 | -€109,416 | -130% |
| Amounts payable | 17/49 | €746,847 | €2,418,954 | +€1.7m | +224% |
| Amounts payable after more than one year | 17 | €695,606 | €2,309,897 | +€1.6m | +232% |
| Financial debts | 170/4 | €695,606 | €2,309,897 | +€1.6m | +232% |
| Amounts payable within one year | 42/48 | €51,240 | €107,366 | +€56,126 | +110% |
| Current portion of amounts payable after more than one year | 42 | €42,593 | €100,724 | +€58,132 | +136% |
| Trade debts | 44 | €6,323 | €1,602 | -€4,720 | -74.7% |
| Suppliers | 440/4 | €6,323 | €1,602 | -€4,720 | -74.7% |
| Other amounts payable | 47/48 | €2,325 | €5,040 | +€2,715 | +117% |
| Accrued charges and deferred income | 492/3 | - | €1,690 | +€1,690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,135 | €47,605 | +€34,471 | +262% |
| Other operating charges | 640/8 | €28,876 | €64,979 | +€36,103 | +125% |
| Gross operating margin | 9900 | -€25,218 | €60,649 | +€85,868 | |
| Operating profit (loss) | 9901 | -€67,228 | -€51,935 | +€15,294 | +22.7% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €16,756 | €57,481 | +€40,725 | +243% |
| Recurring financial charges | 65 | €16,756 | €57,481 | +€40,725 | +243% |
| Profit (loss) for the period before taxes | 9903 | -€83,985 | -€109,416 | -€25,431 | -30.3% |
| Profit (loss) for the period | 9904 | -€83,985 | -€109,416 | -€25,431 | -30.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€83,985 | -€109,416 | -€25,431 | -30.3% |
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 22 October 2026 via checked.be.