REP. 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.
REP. INVEST
Largest movements
- Cash -€50,778
down €50,778 (-91.8%), from €55,300 to €4,522
mainly Investment in fixed assets (net) (-€47,261) and Debts after one year (-€37,517)
- Receivables within one year -€28,646
no longer reported in 2025 (was €28,646)
of which Trade receivables: -€24,027
- Tangible fixed assets +€16,237
up €16,237 (+2.2%), from €753,129 to €769,366
of which Land and buildings: +€12,832
- Stocks and contracts -€8,493
no longer reported in 2025 (was €8,493)
- Profit (loss) carried forward -€38,835
no longer reported in 2025 (was €38,835)
- Debts after one year -€37,517
down €37,517 (-5.6%), from €670,712 to €633,195
- Reserves +€13,250
up €13,250 (+48.8%), from €27,144 to €40,395
of which Distributable reserves: +€13,250
- Gross operating margin -€21,172
down €21,172 (-49.4%), from €42,878 to €21,707
- Depreciation +€3,662
up €3,662 (+13.3%), from €27,549 to €31,211
- Taxes -€3,433
down €3,433 (-72.8%), from €4,715 to €1,282
- Financial charges -€1,602
down €1,602 (-11.2%), from €14,287 to €12,685
- Other operating charges +€1,320
up €1,320 (+166%), from €793 to €2,113
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 | €846,316 | €774,450 | -€71,866 | -8.5% |
| Formation expenses | 20 | - | €562 | +€562 | |
| Fixed assets | 21/28 | €753,878 | €769,366 | +€15,488 | +2.1% |
| Intangible fixed assets | 21 | €749 | - | -€749 | |
| Tangible fixed assets | 22/27 | €753,129 | €769,366 | +€16,237 | +2.2% |
| Land and buildings | 22 | €750,479 | €763,311 | +€12,832 | +1.7% |
| Plant, machinery and equipment | 23 | €2,650 | - | -€2,650 | |
| Furniture and vehicles | 24 | - | €6,055 | +€6,055 | |
| Current assets | 29/58 | €92,438 | €4,522 | -€87,916 | -95.1% |
| Stocks and contracts in progress | 3 | €8,493 | - | -€8,493 | |
| Stocks | 30/36 | €8,493 | - | -€8,493 | |
| Amounts receivable within one year | 40/41 | €28,646 | - | -€28,646 | |
| Trade receivables | 40 | €24,027 | - | -€24,027 | |
| Other amounts receivable | 41 | €4,618 | - | -€4,618 | |
| Cash at bank and in hand | 54/58 | €55,300 | €4,522 | -€50,778 | -91.8% |
| Total equity and liabilities | 10/49 | €846,316 | €774,450 | -€71,866 | -8.5% |
| Equity | 10/15 | €127,979 | €102,395 | -€25,585 | -20.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €27,144 | €40,395 | +€13,250 | +48.8% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Distributable reserves | 133 | €24,046 | €37,296 | +€13,250 | +55.1% |
| Profit (loss) carried forward | 14 | €38,835 | - | -€38,835 | |
| Amounts payable | 17/49 | €718,336 | €672,055 | -€46,281 | -6.4% |
| Amounts payable after more than one year | 17 | €670,712 | €633,195 | -€37,517 | -5.6% |
| Financial debts | 170/4 | €670,712 | €633,195 | -€37,517 | -5.6% |
| Amounts payable within one year | 42/48 | €39,276 | €38,859 | -€416 | -1.1% |
| Current portion of amounts payable after more than one year | 42 | €36,881 | €37,517 | +€636 | +1.7% |
| Trade debts | 44 | €2,365 | €809 | -€1,556 | -65.8% |
| Suppliers | 440/4 | €2,365 | €809 | -€1,556 | -65.8% |
| Taxes, remuneration and social security | 45 | - | €533 | +€533 | |
| Taxes | 450/3 | - | €533 | +€533 | |
| Other amounts payable | 47/48 | €30 | - | -€30 | |
| Accrued charges and deferred income | 492/3 | €8,348 | - | -€8,348 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,549 | €31,211 | +€3,662 | +13.3% |
| Other operating charges | 640/8 | €793 | €2,113 | +€1,320 | +166% |
| Gross operating margin | 9900 | €42,878 | €21,707 | -€21,172 | -49.4% |
| Operating profit (loss) | 9901 | €14,536 | -€11,618 | -€26,154 | |
| Financial charges | 65/66B | €14,287 | €12,685 | -€1,602 | -11.2% |
| Recurring financial charges | 65 | €14,287 | €12,685 | -€1,602 | -11.2% |
| Profit (loss) for the period before taxes | 9903 | €249 | -€24,303 | -€24,552 | |
| Income taxes | 67/77 | €4,715 | €1,282 | -€3,433 | -72.8% |
| Profit (loss) for the period | 9904 | -€4,465 | -€25,585 | -€21,119 | -473% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,465 | -€25,585 | -€21,119 | -473% |
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 29 October 2026 via checked.be.