D.M. InKev: 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.
D.M. InKev
Largest movements
- Cash -€111,501
down €111,501 (-96.6%), from €115,460 to €3,959
mainly Current portion of long-term debt (-€114,283) and Tax, wage and social debts (-€35,833)
- Receivables within one year -€15,783
down €15,783 (-12.8%), from €123,092 to €107,308
of which Trade receivables: -€19,176
- Current portion of long-term debt -€114,283
down €114,283 (-99.9%), from €114,388 to €105
- Tax, wage and social debts -€35,833
down €35,833 (-57.8%), from €62,030 to €26,197
of which Taxes: -€19,731
- Other debts +€32,582
up €32,582 (+55,047%), from €59 to €32,641
- Accrued charges and deferred income +€25,801
new in 2025: €25,801
- Trade debts -€16,786
down €16,786 (-81.9%), from €20,484 to €3,698
- Gross operating margin -€457,684
down €457,684, from €452,846 to -€4,838
- Staff costs -€229,318
down €229,318 (-97.8%), from €234,552 to €5,234
- Taxes -€26,220
no longer reported in 2025 (was €26,220)
- Financial charges -€16,553
down €16,553 (-76.8%), from €21,561 to €5,008
of which Financial charges: -€16,560
- Other operating charges -€8,157
down €8,157 (-85.2%), from €9,575 to €1,418
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 | €363,759 | €238,766 | -€124,993 | -34.4% |
| Fixed assets | 21/28 | €125,145 | €125,145 | = | 0.0% |
| Tangible fixed assets | 22/27 | €119,265 | €119,265 | = | 0.0% |
| Land and buildings | 22 | €119,265 | €119,265 | = | 0.0% |
| Financial fixed assets | 28 | €5,880 | €5,880 | = | 0.0% |
| Current assets | 29/58 | €238,614 | €113,621 | -€124,993 | -52.4% |
| Stocks and contracts in progress | 3 | - | €2,354 | +€2,354 | |
| Stocks | 30/36 | - | €2,354 | +€2,354 | |
| Amounts receivable within one year | 40/41 | €123,092 | €107,308 | -€15,783 | -12.8% |
| Trade receivables | 40 | €121,006 | €101,830 | -€19,176 | -15.8% |
| Other amounts receivable | 41 | €2,086 | €5,478 | +€3,392 | +163% |
| Cash at bank and in hand | 54/58 | €115,460 | €3,959 | -€111,501 | -96.6% |
| Deferred charges and accrued income | 490/1 | €63 | - | -€63 | |
| Total equity and liabilities | 10/49 | €363,759 | €238,766 | -€124,993 | -34.4% |
| Equity | 10/15 | €146,797 | €130,323 | -€16,474 | -11.2% |
| Contributions | 10/11 | €52,000 | €52,000 | = | 0.0% |
| Reserves | 13 | €24,188 | €24,188 | = | 0.0% |
| Distributable reserves | 133 | €24,188 | €24,188 | = | 0.0% |
| Profit (loss) carried forward | 14 | €70,609 | €54,135 | -€16,474 | -23.3% |
| Amounts payable | 17/49 | €216,962 | €108,443 | -€108,519 | -50.0% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €196,962 | €62,642 | -€134,320 | -68.2% |
| Current portion of amounts payable after more than one year | 42 | €114,388 | €105 | -€114,283 | -99.9% |
| Trade debts | 44 | €20,484 | €3,698 | -€16,786 | -81.9% |
| Suppliers | 440/4 | €20,484 | €3,698 | -€16,786 | -81.9% |
| Taxes, remuneration and social security | 45 | €62,030 | €26,197 | -€35,833 | -57.8% |
| Taxes | 450/3 | €45,928 | €26,197 | -€19,731 | -43.0% |
| Remuneration and social security | 454/9 | €16,102 | - | -€16,102 | |
| Other amounts payable | 47/48 | €59 | €32,641 | +€32,582 | +55,047% |
| Accrued charges and deferred income | 492/3 | - | €25,801 | +€25,801 | |
| Non-recurring operating income | 76A | €309,705 | - | -€309,705 | |
| Remuneration, social security and pensions | 62 | €234,552 | €5,234 | -€229,318 | -97.8% |
| Other operating charges | 640/8 | €9,575 | €1,418 | -€8,157 | -85.2% |
| Gross operating margin | 9900 | €452,846 | -€4,838 | -€457,684 | |
| Operating profit (loss) | 9901 | €208,719 | -€11,490 | -€220,209 | |
| Financial income | 75/76B | €80 | €24 | -€56 | -69.7% |
| Recurring financial income | 75 | €80 | €24 | -€56 | -69.7% |
| Financial charges | 65/66B | €21,561 | €5,008 | -€16,553 | -76.8% |
| Recurring financial charges | 65 | €21,561 | €5,001 | -€16,560 | -76.8% |
| Non-recurring financial charges | 66B | - | €7 | +€7 | |
| Profit (loss) for the period before taxes | 9903 | €187,239 | -€16,474 | -€203,712 | |
| Income taxes | 67/77 | €26,220 | - | -€26,220 | |
| Profit (loss) for the period | 9904 | €161,019 | -€16,474 | -€177,493 | |
| Profit (loss) for the period to be appropriated | 9905 | €161,019 | -€16,474 | -€177,493 |
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 23 October 2026 via checked.be.