Style Invest: what changed
What changed
Style Invest
NACE 68.121, Development of residential building projects
filed annual accounts (NBB)
Net result for the year
€203,100
2024 · €155,112+€47,989
Equity
€2.9m
2024 · €2.7m+€203,100
Cash
€15,636
2024 · €32,919-€17,284
Balance sheet total
€7.0m
2024 · €7.2m-€169,067
Largest movements
Assets
- Tangible fixed assets -€176,319
down €176,319 (-3.6%), from €5.0m to €4.8m
of which Land and buildings: -€174,890
Equity and liabilities
- Other debts -€341,635
down €341,635 (-8.8%), from €3.9m to €3.5m
- Reserves +€203,100
up €203,100 (+9.0%), from €2.3m to €2.5m
of which Distributable reserves: +€204,600
Income statement
- Gross operating margin -€80,809
down €80,809 (-12.2%), from €660,111 to €579,302
- Depreciation -€70,734
down €70,734 (-25.1%), from €282,328 to €211,593
- Financial income +€67,337
new in 2025: €67,337
- Other operating charges +€11,084
up €11,084 (+19.1%), from €57,998 to €69,082
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
€155,112
Gross operating margin
-€80,809
Depreciation
+€70,734
Other operating charges
-€11,084
Financial income
+€67,337
Financial charges
+€6,563
Taxes
-€4,753
Result 2025
€203,100
raises the resultlowers the result
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
+€68,990
Investment
-€36,274
Financing
-€50,000
Cash 2024
€32,919
From operations (derived)
+€68,990
Net result for the year
+€203,100
Depreciation
+€211,593
Stocks and contracts
-€22,414
Receivables within one year
-€1,122
Provisions
-€500
Trade debts
+€7,778
Tax, wage and social debts
+€14,804
Other debts
-€341,635
Accrued charges and deferred income
-€2,615
Investment (derived)
-€36,274
Investment in fixed assets (net)
-€36,274
Financing
-€50,000
Debts after one year
-€50,000
Cash 2025
€15,636
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,215,288 | €7,046,220 | -€169,067 | -2.3% |
| Fixed assets | 21/28 | €6,011,752 | €5,836,433 | -€175,319 | -2.9% |
| Tangible fixed assets | 22/27 | €4,961,219 | €4,784,899 | -€176,319 | -3.6% |
| Land and buildings | 22 | €4,955,186 | €4,780,296 | -€174,890 | -3.5% |
| Plant, machinery and equipment | 23 | €2,033 | €603 | -€1,430 | -70.3% |
| Furniture and vehicles | 24 | €4,000 | €4,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,050,534 | €1,051,534 | +€1,000 | +0.1% |
| Current assets | 29/58 | €1,203,535 | €1,209,787 | +€6,252 | +0.5% |
| Stocks and contracts in progress | 3 | €1,152,175 | €1,174,589 | +€22,414 | +1.9% |
| Stocks | 30/36 | €1,152,175 | €1,174,589 | +€22,414 | +1.9% |
| Amounts receivable within one year | 40/41 | €18,441 | €19,563 | +€1,122 | +6.1% |
| Other amounts receivable | 41 | €18,441 | €19,563 | +€1,122 | +6.1% |
| Cash at bank and in hand | 54/58 | €32,919 | €15,636 | -€17,284 | -52.5% |
| Total equity and liabilities | 10/49 | €7,215,288 | €7,046,220 | -€169,067 | -2.3% |
| Equity | 10/15 | €2,716,992 | €2,920,092 | +€203,100 | +7.5% |
| Contributions | 10/11 | €462,500 | €462,500 | = | 0.0% |
| Capital | 10 | €462,500 | €462,500 | = | 0.0% |
| Issued capital | 100 | €462,500 | €462,500 | = | 0.0% |
| Reserves | 13 | €2,254,492 | €2,457,592 | +€203,100 | +9.0% |
| Non-distributable reserves | 130/1 | €46,250 | €46,250 | = | 0.0% |
| Legal reserve | 130 | €46,250 | €46,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €24,979 | €23,479 | -€1,500 | -6.0% |
| Distributable reserves | 133 | €2,183,263 | €2,387,863 | +€204,600 | +9.4% |
| Provisions and deferred taxes | 16 | €8,326 | €7,826 | -€500 | -6.0% |
| Deferred taxes | 168 | €8,326 | €7,826 | -€500 | -6.0% |
| Amounts payable | 17/49 | €4,489,969 | €4,118,302 | -€371,668 | -8.3% |
| Amounts payable after more than one year | 17 | €550,000 | €500,000 | -€50,000 | -9.1% |
| Financial debts | 170/4 | €550,000 | €500,000 | -€50,000 | -9.1% |
| Amounts payable within one year | 42/48 | €3,936,679 | €3,617,627 | -€319,053 | -8.1% |
| Trade debts | 44 | €19,169 | €26,947 | +€7,778 | +40.6% |
| Suppliers | 440/4 | €19,169 | €26,947 | +€7,778 | +40.6% |
| Taxes, remuneration and social security | 45 | €32,673 | €47,477 | +€14,804 | +45.3% |
| Taxes | 450/3 | €27,373 | €42,177 | +€14,804 | +54.1% |
| Remuneration and social security | 454/9 | €5,300 | €5,300 | = | 0.0% |
| Other amounts payable | 47/48 | €3,884,838 | €3,543,203 | -€341,635 | -8.8% |
| Accrued charges and deferred income | 492/3 | €3,290 | €675 | -€2,615 | -79.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €282,328 | €211,593 | -€70,734 | -25.1% |
| Other operating charges | 640/8 | €57,998 | €69,082 | +€11,084 | +19.1% |
| Gross operating margin | 9900 | €660,111 | €579,302 | -€80,809 | -12.2% |
| Operating profit (loss) | 9901 | €319,786 | €298,627 | -€21,159 | -6.6% |
| Financial income | 75/76B | - | €67,337 | +€67,337 | |
| Recurring financial income | 75 | - | €67,337 | +€67,337 | |
| Financial charges | 65/66B | €98,615 | €92,052 | -€6,563 | -6.7% |
| Recurring financial charges | 65 | €98,615 | €92,052 | -€6,563 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €221,171 | €273,912 | +€52,742 | +23.8% |
| Transfer from deferred taxes | 780 | €500 | €500 | = | 0.0% |
| Income taxes | 67/77 | €66,559 | €71,312 | +€4,753 | +7.1% |
| Profit (loss) for the period | 9904 | €155,112 | €203,100 | +€47,989 | +30.9% |
| Transfer from tax-exempt reserves | 789 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €156,612 | €204,600 | +€47,989 | +30.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.