POWER 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.
What changed
POWER INVEST
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€65,628
2024 · -€74,151+€8,523
Equity
-€32,327
2024 · €33,300-€65,628
Cash
€8,391
2024 · €7,942+€449
Balance sheet total
€2.2m
2024 · €2.3m-€95,183
Largest movements
Assets
- Tangible fixed assets -€91,079
down €91,079 (-4.0%), from €2.3m to €2.2m
of which Land and buildings: -€83,490
Equity and liabilities
- Profit (loss) carried forward -€65,628
down €65,628 (-8.0%), from -€816,303 to -€881,931
- Debts after one year -€33,322
down €33,322 (-2.7%), from €1.2m to €1.2m
of which Financial debts: -€33,322
Income statement
- Gross operating margin +€14,526
up €14,526 (+15.4%), from €94,581 to €109,107
- Financial charges +€9,234
up €9,234 (+19.4%), from €47,505 to €56,738
- Depreciation +€1,670
up €1,670 (+1.7%), from €101,160 to €102,829
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
-€74,151
Gross operating margin
+€14,526
Depreciation
-€1,670
Other operating charges
+€364
Other operating items
+€4,595
Financial income
-€61
Financial charges
-€9,234
Taxes
+€3
Result 2025
-€65,628
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
+€42,781
Investment
-€11,792
Financing
-€30,540
Cash 2024
€7,942
From operations (derived)
+€42,781
Net result for the year
-€65,628
Depreciation
+€102,829
Receivables within one year
+€4,187
Deferred charges and accrued income
+€408
Trade debts
-€3,432
Tax, wage and social debts
-€3
Other debts
-€5,153
Accrued charges and deferred income
+€9,573
Investment (derived)
-€11,792
Investment in fixed assets (net)
-€11,788
Current investments
-€3
Financing
-€30,540
Debts after one year
-€33,322
Current portion of long-term debt
+€2,782
Cash 2025
€8,391
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,310,605 | €2,215,422 | -€95,183 | -4.1% |
| Fixed assets | 21/28 | €2,290,722 | €2,199,681 | -€91,041 | -4.0% |
| Tangible fixed assets | 22/27 | €2,290,373 | €2,199,294 | -€91,079 | -4.0% |
| Land and buildings | 22 | €2,257,320 | €2,173,830 | -€83,490 | -3.7% |
| Plant, machinery and equipment | 23 | €789 | €592 | -€197 | -25.0% |
| Furniture and vehicles | 24 | €32,264 | €24,872 | -€7,392 | -22.9% |
| Financial fixed assets | 28 | €349 | €387 | +€38 | +11.0% |
| Current assets | 29/58 | €19,883 | €15,741 | -€4,142 | -20.8% |
| Amounts receivable within one year | 40/41 | €4,187 | €0 | -€4,187 | -100% |
| Trade receivables | 40 | €4,187 | €0 | -€4,187 | -100% |
| Current investments | 50/53 | €625 | €629 | +€3 | +0.5% |
| Cash at bank and in hand | 54/58 | €7,942 | €8,391 | +€449 | +5.7% |
| Deferred charges and accrued income | 490/1 | €7,129 | €6,722 | -€408 | -5.7% |
| Total equity and liabilities | 10/49 | €2,310,605 | €2,215,422 | -€95,183 | -4.1% |
| Equity | 10/15 | €33,300 | -€32,327 | -€65,628 | |
| Contributions | 10/11 | €849,508 | €849,508 | = | 0.0% |
| Reserves | 13 | €95 | €95 | = | 0.0% |
| Distributable reserves | 133 | €95 | €95 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€816,303 | -€881,931 | -€65,628 | -8.0% |
| Amounts payable | 17/49 | €2,277,304 | €2,247,749 | -€29,555 | -1.3% |
| Amounts payable after more than one year | 17 | €1,227,874 | €1,194,552 | -€33,322 | -2.7% |
| Financial debts | 170/4 | €517,874 | €484,552 | -€33,322 | -6.4% |
| Other amounts payable | 178/9 | €710,000 | €710,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,044,895 | €1,039,089 | -€5,806 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €82,540 | €85,322 | +€2,782 | +3.4% |
| Financial debts | 43 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 430/8 | €500,000 | €500,000 | = | 0.0% |
| Trade debts | 44 | €4,861 | €1,429 | -€3,432 | -70.6% |
| Suppliers | 440/4 | €4,861 | €1,429 | -€3,432 | -70.6% |
| Taxes, remuneration and social security | 45 | €186 | €183 | -€3 | -1.4% |
| Taxes | 450/3 | €186 | €183 | -€3 | -1.4% |
| Other amounts payable | 47/48 | €457,308 | €452,155 | -€5,153 | -1.1% |
| Accrued charges and deferred income | 492/3 | €4,536 | €14,108 | +€9,573 | +211% |
| Non-recurring operating income | 76A | €0 | €2,650 | +€2,650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,160 | €102,829 | +€1,670 | +1.7% |
| Other operating charges | 640/8 | €11,164 | €10,800 | -€364 | -3.3% |
| Non-recurring operating charges | 66A | €8,781 | €4,187 | -€4,595 | -52.3% |
| Gross operating margin | 9900 | €94,581 | €109,107 | +€14,526 | +15.4% |
| Operating profit (loss) | 9901 | -€26,524 | -€8,710 | +€17,815 | +67.2% |
| Financial income | 75/76B | €65 | €4 | -€61 | -94.4% |
| Recurring financial income | 75 | €65 | €4 | -€61 | -94.4% |
| Financial charges | 65/66B | €47,505 | €56,738 | +€9,234 | +19.4% |
| Recurring financial charges | 65 | €47,505 | €56,738 | +€9,234 | +19.4% |
| Profit (loss) for the period before taxes | 9903 | -€73,965 | -€65,445 | +€8,520 | +11.5% |
| Income taxes | 67/77 | €186 | €183 | -€3 | -1.5% |
| Profit (loss) for the period | 9904 | -€74,151 | -€65,628 | +€8,523 | +11.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€74,151 | -€65,628 | +€8,523 | +11.5% |
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 31 October 2026 via checked.be.