YVEST: 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.
YVEST
Largest movements
- Cash -€2.4m
down €2.4m (-85.3%), from €2.8m to €408,285
mainly Contributions, distributions and other (-€5.1m) and Debts after one year (-€372,808)
- Tangible fixed assets -€487,481
down €487,481 (-3.3%), from €14.7m to €14.2m
of which Leasing and similar rights: -€382,269
- Deferred charges and accrued income +€282,253
up €282,253 (+959%), from €29,444 to €311,697
- Contributions -€3.8m
down €3.8m (-80.8%), from €4.7m to €905,000
- Other debts +€2.6m
up €2.6m (+115%), from €2.2m to €4.8m
- Reserves -€1.2m
down €1.2m (-11.1%), from €10.6m to €9.5m
of which Distributable reserves: -€822,897
- Debts after one year -€372,808
down €372,808 (-6.3%), from €5.9m to €5.6m
- Gross operating margin -€8.4m
down €8.4m (-90.8%), from €9.3m to €851,078
- Financial income +€305,314
up €305,314 (+1,052%), from €29,012 to €334,327
- Depreciation +€158,891
up €158,891 (+43.3%), from €367,013 to €525,904
- Taxes +€154,123
up €154,123 (+894%), from €17,232 to €171,355
- Financial charges -€112,658
down €112,658 (-28.7%), from €392,096 to €279,437
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 | €27,014,759 | €24,341,783 | -€2.7m | -9.9% |
| Fixed assets | 21/28 | €19,136,446 | €18,648,965 | -€487,481 | -2.5% |
| Tangible fixed assets | 22/27 | €14,651,081 | €14,163,599 | -€487,481 | -3.3% |
| Land and buildings | 22 | €5,329,702 | €5,201,317 | -€128,385 | -2.4% |
| Plant, machinery and equipment | 23 | - | €16,693 | +€16,693 | |
| Furniture and vehicles | 24 | €35,162 | €41,641 | +€6,480 | +18.4% |
| Leasing and similar rights | 25 | €9,286,217 | €8,903,947 | -€382,269 | -4.1% |
| Financial fixed assets | 28 | €4,485,365 | €4,485,365 | = | 0.0% |
| Current assets | 29/58 | €7,878,313 | €5,692,818 | -€2.2m | -27.7% |
| Amounts receivable within one year | 40/41 | €4,103,059 | €3,950,000 | -€153,059 | -3.7% |
| Other amounts receivable | 41 | €4,103,059 | €3,950,000 | -€153,059 | -3.7% |
| Current investments | 50/53 | €974,661 | €1,022,836 | +€48,175 | +4.9% |
| Cash at bank and in hand | 54/58 | €2,771,149 | €408,285 | -€2.4m | -85.3% |
| Deferred charges and accrued income | 490/1 | €29,444 | €311,697 | +€282,253 | +959% |
| Total equity and liabilities | 10/49 | €27,014,759 | €24,341,783 | -€2.7m | -9.9% |
| Equity | 10/15 | €15,234,222 | €10,357,128 | -€4.9m | -32.0% |
| Contributions | 10/11 | €4,725,728 | €905,000 | -€3.8m | -80.8% |
| Capital | 10 | €4,725,728 | €905,000 | -€3.8m | -80.8% |
| Issued capital | 100 | €4,725,728 | €905,000 | -€3.8m | -80.8% |
| Reserves | 13 | €10,628,760 | €9,452,128 | -€1.2m | -11.1% |
| Non-distributable reserves | 130/1 | €240,521 | €90,500 | -€150,021 | -62.4% |
| Legal reserve | 130 | €240,521 | €90,500 | -€150,021 | -62.4% |
| Tax-exempt reserves | 132 | €8,975,854 | €8,772,140 | -€203,714 | -2.3% |
| Distributable reserves | 133 | €1,412,384 | €589,488 | -€822,897 | -58.3% |
| Profit (loss) carried forward | 14 | -€120,266 | €0 | +€120,266 | |
| Provisions and deferred taxes | 16 | €2,991,951 | €2,924,047 | -€67,905 | -2.3% |
| Deferred taxes | 168 | €2,991,951 | €2,924,047 | -€67,905 | -2.3% |
| Amounts payable | 17/49 | €8,788,586 | €11,060,608 | +€2.3m | +25.9% |
| Amounts payable after more than one year | 17 | €5,926,635 | €5,553,827 | -€372,808 | -6.3% |
| Financial debts | 170/4 | €5,926,635 | €5,553,827 | -€372,808 | -6.3% |
| Amounts payable within one year | 42/48 | €2,678,199 | €5,385,068 | +€2.7m | +101% |
| Current portion of amounts payable after more than one year | 42 | €363,467 | €372,808 | +€9,341 | +2.6% |
| Trade debts | 44 | €13,449 | €3,230 | -€10,220 | -76.0% |
| Suppliers | 440/4 | €13,449 | €3,230 | -€10,220 | -76.0% |
| Taxes, remuneration and social security | 45 | €56,190 | €190,298 | +€134,109 | +239% |
| Taxes | 450/3 | €56,190 | €190,298 | +€134,109 | +239% |
| Other amounts payable | 47/48 | €2,245,093 | €4,818,732 | +€2.6m | +115% |
| Accrued charges and deferred income | 492/3 | €183,751 | €121,712 | -€62,039 | -33.8% |
| Non-recurring operating income | 76A | €8,650,203 | €0 | -€8.7m | -100% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367,013 | €525,904 | +€158,891 | +43.3% |
| Other operating charges | 640/8 | €63,894 | €40,861 | -€23,033 | -36.0% |
| Non-recurring operating charges | 66A | €1,666,883 | €0 | -€1.7m | -100% |
| Gross operating margin | 9900 | €9,294,071 | €851,078 | -€8.4m | -90.8% |
| Operating profit (loss) | 9901 | €7,196,282 | €284,313 | -€6.9m | -96.0% |
| Financial income | 75/76B | €29,012 | €334,327 | +€305,314 | +1,052% |
| Recurring financial income | 75 | €29,012 | €334,327 | +€305,314 | +1,052% |
| Financial charges | 65/66B | €392,096 | €279,437 | -€112,658 | -28.7% |
| Recurring financial charges | 65 | €392,096 | €279,437 | -€112,658 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €6,833,198 | €339,203 | -€6.5m | -95.0% |
| Transfer from deferred taxes | 780 | €51,609 | €67,905 | +€16,295 | +31.6% |
| Transfer to deferred taxes | 680 | €2,157,250 | €0 | -€2.2m | -100% |
| Income taxes | 67/77 | €17,232 | €171,355 | +€154,123 | +894% |
| Profit (loss) for the period | 9904 | €4,710,326 | €235,752 | -€4.5m | -95.0% |
| Transfer from tax-exempt reserves | 789 | €153,277 | €203,714 | +€50,437 | +32.9% |
| Transfer to tax-exempt reserves | 689 | €6,471,749 | €0 | -€6.5m | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,608,147 | €439,466 | +€2.0m |
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 19 October 2026 via checked.be.