Invest Europe | Annual Report 2025 | Financial statements

Financial statements

Profit and loss (€)

Notes Membership revenue was below budget; however, this variance was partially offset by a reduction in the bad debt provision Event registrations were below budget, though disciplined cost management helped absorb part of the impact Training activities met Budget targets Interest earned on cash investments was on budget Some publications postponed to 2026 Incremental costs were incurred for the maintenance and support of core IT systems Recovery of 2024 bad debts accounted for in 2025 (excluded from Budget 2025) Internal and external projects were funded by the Reserves
	Notes	Actual 2024	Budget 2025	Actual 2025
Membership	1	7,568,675	7,861,824	7,763,560
Events	2	1,327,009	1,384,500	1,214,462
Training	3	468,799	477,742	474,129
Sponsorship of publications		4,000	34,000	4,000
Service fees		104,000	220,000	236,000
Bank interest and miscellaneous	4	163,034	105,000	98,769
Other revenue		3,168	0	376
Total Revenue		9,638,685	10,083,066	9,791,296
Personnel costs		5,194,031	5,212,000	5,196,842
Professional services	5	1,868,249	2,217,211	1,986,755
Housing costs		258,875	277,226	277,977
Accommodation events	2	664,459	747,926	680,454
Travel and representation		289,663	326,922	278,572
Communications		17,595	20,230	16,704
Printing and audio-visuals		421,299	446,500	429,588
Various office costs	6	632,939	580,091	700,844
Finance costs		57,651	46,780	64,422
Provision for doubtful debtors	1	108,724	100,000	58,540
Provision/other costs	7	86,308	89,150	37,166
Total Expenses		9,599,791	10,064,036	9,727,864

Net operating results		38,893	19,030	63,432
Project funded by Invest Europe General Reserves	8	243,979	440,000	708,070
Total exceptional expenses		243,979	440,000	708,070

Net result		-205,086	-420,970	-644,638

Profit and loss (€)

Notes Growth in membership fee, including indexation in 2026 Non-recurring service fees for 2025 Decrease in costs due to internal reorganization Increase in professional fees following postponement of certain 2025 publications into 2026 Recovery of 2024 bad debts accounted for in 2025 (excluded from Budget 2026) Internal and external projects will be funded by the Reserves
	Notes	Actual 2025	Budget 2026
Membership	1	7,763,560	8,017,000
Events		1,214,462	1,366,500
Training		474,129	442,587
Sponsorship of publications		4,000	19,000
Service fees	2	236,000	60,000
Bank interest and miscellaneous		98,769	75,000
Other revenue		376	0
Total Revenue		9,791,296	9,980,087
Personnel costs	3	5,196,842	5,082,000
Professional services	4	1,986,755	2,143,150
Housing costs		277,977	289,500
Accommodation events		680,454	707,024
Travel and representation		278,572	268,883
Communications		16,704	17,550
Printing and audio-visuals		429,588	468,000
Various office costs		700,844	670,728
Finance costs		64,422	31,580
Provision for doubtful debtors		58,540	100,000
Provision/other costs	5	37,166	94,425
Total Expenses		9,727,864	9,872,840

Net operating results		63,432	107,247
Project funded by Invest Europe General Reserves	6	708,070	225,500
Total exceptional expenses		708,070	225,500

Net result		-644,638	-118,253

Assets (€)

	Notes	Dec 2024	Dec 2025
Fixed assets
At cost, less depreciation		256,571	209,592
Financial assets
Shares in EDC GmbH (33%)		8,329	8,329
Current assets
Receivables	1	171,224	436,945
Deposits and prepayments		18,464	20,192
VAT		104,865	89,905
Deferred charges	2	449,456	370,030
Accrued income		53,914	13,502
Cash at bank		7,180,977	6,771,298
Total current assets		7,978,900	7,701,872

Total assets		8,243,801	7,919,792

Liabilities (€)

Notes Receivables as of December 2025 includes sponsorship fees relating to events scheduled for 2026 have been invoiced but remain unpaid as of December 2025 Deferred charges as of December 2025 are related to deposits for Events (Investors Forum 2026 and CFO Forum 2026) and 2026 Chair’s Dinners and operational charges (2026 subscriptions, Q1/2026 rent and other 2026 charges) Deferred income as of December 2025 is related to free rent granted by the landlord amortized on 9 years, registrations and sponsorhip for the Investors Forum 2026 and CFO Forum 2026
	Notes	Dec 2024	Dec 2025
General reserves
Opening balance		6,102,230	5,897,144
Attribution of profit (+)/loss (-)		-205,086	-644,638
Closing balance		5,897,144	5,252,506
Provisions		31,332	29,557
Current liabilities
Suppliers		458,911	667,070
VAT		13,316	4,053
Payroll accruals		1,298,390	1,306,933
Deferred income	3	544,708	659,674
Total current liabilities		2,315,325	2,637,730

Total liabilities		8,243,801	7,919,792