S-Invest: what changed
What changed
S-Invest
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€29,732
2024 · -€16,014+€45,746
Equity
€83,639
2024 · €53,907+€29,732
Cash
€37,660
2024 · €53,530-€15,870
Balance sheet total
€677,895
2024 · €693,588-€15,693
Largest movements
Assets
- Cash -€15,870
down €15,870 (-29.6%), from €53,530 to €37,660
mainly Other debts (-€27,457) and Debts after one year (-€13,531)
Equity and liabilities
- Profit (loss) carried forward +€29,732
up €29,732 (+80.2%), from -€37,093 to -€7,361
- Other debts -€27,457
down €27,457 (-5.8%), from €472,075 to €444,619
- Debts after one year -€13,531
down €13,531 (-9.4%), from €144,079 to €130,548
Income statement
- Financial charges -€24,086
down €24,086 (-91.4%), from €26,348 to €2,262
- Gross operating margin +€11,359
up €11,359 (+46.3%), from €24,519 to €35,878
- Other operating charges -€2,612
down €2,612 (-57.4%), from €4,551 to €1,939
- Taxes -€1,040
down €1,040, from €500 to -€540
- Depreciation -€850
down €850 (-25.5%), from €3,335 to €2,485
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.
Result 2024
-€16,014
Gross operating margin
+€11,359
Depreciation
+€850
Other operating charges
+€2,612
Other operating items
+€6,054
Financial income
-€255
Financial charges
+€24,086
Taxes
+€1,040
Result 2025
€29,732
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2,625
Investment
+€100
Financing
-€13,345
Cash 2024
€53,530
From operations (derived)
-€2,625
Net result for the year
+€29,732
Depreciation
+€2,485
Receivables within one year
-€1,304
Deferred charges and accrued income
-€1,458
Trade debts
-€423
Tax, wage and social debts
-€4,200
Other debts
-€27,457
Investment (derived)
+€100
Investment in fixed assets (net)
+€100
Financing
-€13,345
Debts after one year
-€13,531
Current portion of long-term debt
+€186
Cash 2025
€37,660
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €693,588 | €677,895 | -€15,693 | -2.3% |
| Formation expenses | 20 | €3 | - | -€3 | |
| Fixed assets | 21/28 | €635,660 | €633,077 | -€2,583 | -0.4% |
| Tangible fixed assets | 22/27 | €555,650 | €553,167 | -€2,483 | -0.4% |
| Land and buildings | 22 | €553,468 | €552,328 | -€1,141 | -0.2% |
| Furniture and vehicles | 24 | €2,181 | €839 | -€1,342 | -61.5% |
| Financial fixed assets | 28 | €80,010 | €79,910 | -€100 | -0.1% |
| Current assets | 29/58 | €57,925 | €44,817 | -€13,108 | -22.6% |
| Amounts receivable within one year | 40/41 | €4,395 | €5,700 | +€1,304 | +29.7% |
| Other amounts receivable | 41 | €4,395 | €5,700 | +€1,304 | +29.7% |
| Cash at bank and in hand | 54/58 | €53,530 | €37,660 | -€15,870 | -29.6% |
| Deferred charges and accrued income | 490/1 | - | €1,458 | +€1,458 | |
| Total equity and liabilities | 10/49 | €693,588 | €677,895 | -€15,693 | -2.3% |
| Equity | 10/15 | €53,907 | €83,639 | +€29,732 | +55.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Revaluation surpluses | 12 | €86,000 | €86,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,093 | -€7,361 | +€29,732 | +80.2% |
| Amounts payable | 17/49 | €639,681 | €594,256 | -€45,425 | -7.1% |
| Amounts payable after more than one year | 17 | €144,079 | €130,548 | -€13,531 | -9.4% |
| Financial debts | 170/4 | €144,079 | €130,548 | -€13,531 | -9.4% |
| Amounts payable within one year | 42/48 | €495,602 | €463,708 | -€31,894 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €14,433 | €14,620 | +€186 | +1.3% |
| Trade debts | 44 | €531 | €107 | -€423 | -79.8% |
| Suppliers | 440/4 | €531 | €107 | -€423 | -79.8% |
| Taxes, remuneration and social security | 45 | €8,563 | €4,363 | -€4,200 | -49.1% |
| Taxes | 450/3 | €8,563 | €4,363 | -€4,200 | -49.1% |
| Other amounts payable | 47/48 | €472,075 | €444,619 | -€27,457 | -5.8% |
| Non-recurring operating income | 76A | €4,889 | - | -€4,889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,335 | €2,485 | -€850 | -25.5% |
| Other operating charges | 640/8 | €4,551 | €1,939 | -€2,612 | -57.4% |
| Non-recurring operating charges | 66A | €6,054 | - | -€6,054 | |
| Gross operating margin | 9900 | €24,519 | €35,878 | +€11,359 | +46.3% |
| Operating profit (loss) | 9901 | €10,578 | €31,453 | +€20,875 | +197% |
| Financial income | 75/76B | €256 | €1 | -€255 | -99.8% |
| Recurring financial income | 75 | €256 | €1 | -€255 | -99.8% |
| Financial charges | 65/66B | €26,348 | €2,262 | -€24,086 | -91.4% |
| Recurring financial charges | 65 | €26,348 | €2,262 | -€24,086 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,514 | €29,192 | +€44,706 | |
| Income taxes | 67/77 | €500 | -€540 | -€1,040 | |
| Profit (loss) for the period | 9904 | -€16,014 | €29,732 | +€45,746 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,014 | €29,732 | +€45,746 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.