WE INVEST: what changed
What changed
WE INVEST
NACE 68.204, Real estate activities
filed annual accounts (NBB)
Net result for the year
€37,721
2024 · €47,307-€9,586
Equity
€777,161
2024 · €739,440+€37,721
Cash
€89,178
2024 · €16,388+€72,790
Balance sheet total
€2.0m
2024 · €1.4m+€561,061
Largest movements
Assets
- Tangible fixed assets +€361,905
up €361,905 (+28.5%), from €1.3m to €1.6m
of which Land and buildings: +€367,081
- Stocks and contracts +€105,484
up €105,484 (+2,318%), from €4,550 to €110,034
- Cash +€72,790
up €72,790 (+444%), from €16,388 to €89,178
mainly Debts after one year (+€475,571) and Depreciation (+€73,019)
Equity and liabilities
- Debts after one year +€475,571
up €475,571 (+89.0%), from €534,511 to €1.0m
- Other debts +€43,250
up €43,250 (+116%), from €37,160 to €80,410
- Reserves +€37,721
up €37,721 (+5.2%), from €719,440 to €757,161
of which Distributable reserves: +€37,721
Income statement
- Financial charges +€6,913
up €6,913 (+59.2%), from €11,676 to €18,588
- Taxes -€6,164
down €6,164 (-34.5%), from €17,847 to €11,683
- Depreciation +€5,080
up €5,080 (+7.5%), from €67,939 to €73,019
- Gross operating margin -€3,032
down €3,032 (-2.0%), from €152,580 to €149,548
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
€47,307
Gross operating margin
-€3,032
Depreciation
-€5,080
Other operating charges
-€726
Financial charges
-€6,913
Taxes
+€6,164
Result 2025
€37,721
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
+€31,128
Investment
-€439,924
Financing
+€481,587
Cash 2024
€16,388
From operations (derived)
+€31,128
Net result for the year
+€37,721
Depreciation
+€73,019
Stocks and contracts
-€105,484
Receivables within one year
-€15,665
Smaller working-capital items
-€1,713
Other debts
+€43,250
Investment (derived)
-€439,924
Investment in fixed assets (net)
-€439,924
Financing
+€481,587
Debts after one year
+€475,571
Current portion of long-term debt
+€2,218
Short-term financial debts
+€3,798
Cash 2025
€89,178
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,410,608 | €1,971,670 | +€561,061 | +39.8% |
| Fixed assets | 21/28 | €1,269,118 | €1,636,023 | +€366,905 | +28.9% |
| Tangible fixed assets | 22/27 | €1,269,118 | €1,631,023 | +€361,905 | +28.5% |
| Land and buildings | 22 | €1,247,123 | €1,614,204 | +€367,081 | +29.4% |
| Furniture and vehicles | 24 | €21,995 | €16,819 | -€5,175 | -23.5% |
| Financial fixed assets | 28 | - | €5,000 | +€5,000 | |
| Current assets | 29/58 | €141,490 | €335,646 | +€194,156 | +137% |
| Stocks and contracts in progress | 3 | €4,550 | €110,034 | +€105,484 | +2,318% |
| Stocks | 30/36 | €4,550 | €110,034 | +€105,484 | +2,318% |
| Amounts receivable within one year | 40/41 | €119,175 | €134,840 | +€15,665 | +13.1% |
| Trade receivables | 40 | €21,175 | €4,840 | -€16,335 | -77.1% |
| Other amounts receivable | 41 | €98,000 | €130,000 | +€32,000 | +32.7% |
| Cash at bank and in hand | 54/58 | €16,388 | €89,178 | +€72,790 | +444% |
| Deferred charges and accrued income | 490/1 | €1,377 | €1,594 | +€217 | +15.8% |
| Total equity and liabilities | 10/49 | €1,410,608 | €1,971,670 | +€561,061 | +39.8% |
| Equity | 10/15 | €739,440 | €777,161 | +€37,721 | +5.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €719,440 | €757,161 | +€37,721 | +5.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €717,440 | €755,161 | +€37,721 | +5.3% |
| Amounts payable | 17/49 | €671,168 | €1,194,509 | +€523,341 | +78.0% |
| Amounts payable after more than one year | 17 | €534,511 | €1,010,081 | +€475,571 | +89.0% |
| Financial debts | 170/4 | €534,511 | €1,010,081 | +€475,571 | +89.0% |
| Amounts payable within one year | 42/48 | €136,657 | €184,427 | +€47,770 | +35.0% |
| Current portion of amounts payable after more than one year | 42 | €57,781 | €59,999 | +€2,218 | +3.8% |
| Financial debts | 43 | - | €3,798 | +€3,798 | |
| Credit institutions | 430/8 | - | €3,798 | +€3,798 | |
| Trade debts | 44 | €23,068 | €22,564 | -€504 | -2.2% |
| Suppliers | 440/4 | €23,068 | €22,564 | -€504 | -2.2% |
| Taxes, remuneration and social security | 45 | €18,649 | €17,657 | -€992 | -5.3% |
| Taxes | 450/3 | €18,649 | €17,657 | -€992 | -5.3% |
| Other amounts payable | 47/48 | €37,160 | €80,410 | +€43,250 | +116% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,939 | €73,019 | +€5,080 | +7.5% |
| Other operating charges | 640/8 | €7,813 | €8,539 | +€726 | +9.3% |
| Gross operating margin | 9900 | €152,580 | €149,548 | -€3,032 | -2.0% |
| Operating profit (loss) | 9901 | €76,828 | €67,991 | -€8,838 | -11.5% |
| Financial income | 75/76B | €1 | €1 | = | 0.0% |
| Recurring financial income | 75 | €1 | €1 | = | 0.0% |
| Financial charges | 65/66B | €11,676 | €18,588 | +€6,913 | +59.2% |
| Recurring financial charges | 65 | €11,676 | €18,588 | +€6,913 | +59.2% |
| Profit (loss) for the period before taxes | 9903 | €65,153 | €49,403 | -€15,750 | -24.2% |
| Income taxes | 67/77 | €17,847 | €11,683 | -€6,164 | -34.5% |
| Profit (loss) for the period | 9904 | €47,307 | €37,721 | -€9,586 | -20.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,307 | €37,721 | -€9,586 | -20.3% |
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 7 November 2026 via checked.be.