HINICIO: 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.
HINICIO
Largest movements
- Financial fixed assets +€1.9m
up €1.9m (+1,088%), from €171,435 to €2.0m
- Deferred charges and accrued income -€271,337
down €271,337 (-60.9%), from €445,856 to €174,519
- Receivables within one year -€255,136
down €255,136 (-15.4%), from €1.7m to €1.4m
of which Other amounts receivable: -€312,738
- Cash +€48,699
up €48,699 (+15.0%), from €324,832 to €373,531
mainly Contributions, distributions and other (+€2.0m) and Deferred charges and accrued income (+€271,337)
- Contributions +€2.0m
up €2.0m (+1,098%), from €179,550 to €2.2m
- Trade debts -€770,999
down €770,999 (-73.4%), from €1.1m to €280,075
- Tax, wage and social debts +€213,981
up €213,981 (+135%), from €158,396 to €372,377
of which Remuneration and social security: +€232,408
- Accrued charges and deferred income -€208,184
down €208,184 (-38.8%), from €536,130 to €327,946
- Other debts +€191,330
up €191,330 (+5,715%), from €3,348 to €194,677
- Gross operating margin +€869,743
up €869,743 (+113%), from €771,768 to €1.6m
- Staff costs +€412,279
up €412,279 (+37.5%), from €1.1m to €1.5m
- Taxes +€136,101
up €136,101, from €0 to €136,101
- Financial income -€105,317
down €105,317 (-77.1%), from €136,635 to €31,318
- Financial charges -€42,508
down €42,508 (-72.8%), from €58,375 to €15,867
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,619,519 | €3,995,812 | +€1.4m | +52.5% |
| Fixed assets | 21/28 | €189,228 | €2,043,294 | +€1.9m | +980% |
| Intangible fixed assets | 21 | €2,420 | €1,945 | -€475 | -19.6% |
| Tangible fixed assets | 22/27 | €15,373 | €5,137 | -€10,236 | -66.6% |
| Furniture and vehicles | 24 | €15,373 | €5,137 | -€10,236 | -66.6% |
| Financial fixed assets | 28 | €171,435 | €2,036,212 | +€1.9m | +1,088% |
| Current assets | 29/58 | €2,430,292 | €1,952,518 | -€477,774 | -19.7% |
| Amounts receivable within one year | 40/41 | €1,659,604 | €1,404,468 | -€255,136 | -15.4% |
| Trade receivables | 40 | €1,131,502 | €1,189,104 | +€57,602 | +5.1% |
| Other amounts receivable | 41 | €528,103 | €215,365 | -€312,738 | -59.2% |
| Cash at bank and in hand | 54/58 | €324,832 | €373,531 | +€48,699 | +15.0% |
| Deferred charges and accrued income | 490/1 | €445,856 | €174,519 | -€271,337 | -60.9% |
| Total equity and liabilities | 10/49 | €2,619,519 | €3,995,812 | +€1.4m | +52.5% |
| Equity | 10/15 | €870,572 | €2,820,737 | +€2.0m | +224% |
| Contributions | 10/11 | €179,550 | €2,150,350 | +€2.0m | +1,098% |
| Capital | 10 | €179,550 | €2,150,350 | +€2.0m | +1,098% |
| Issued capital | 100 | €179,550 | €2,150,350 | +€2.0m | +1,098% |
| Reserves | 13 | €182,782 | €182,782 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,955 | €17,598 | -€357 | -2.0% |
| Legal reserve | 130 | €17,955 | €17,598 | -€357 | -2.0% |
| Distributable reserves | 133 | €164,827 | €165,183 | +€357 | +0.2% |
| Profit (loss) carried forward | 14 | €508,240 | €487,605 | -€20,635 | -4.1% |
| Amounts payable | 17/49 | €1,748,947 | €1,175,075 | -€573,872 | -32.8% |
| Amounts payable within one year | 42/48 | €1,212,818 | €847,130 | -€365,688 | -30.2% |
| Trade debts | 44 | €1,051,075 | €280,075 | -€770,999 | -73.4% |
| Suppliers | 440/4 | €1,051,075 | €280,075 | -€770,999 | -73.4% |
| Taxes, remuneration and social security | 45 | €158,396 | €372,377 | +€213,981 | +135% |
| Taxes | 450/3 | €66,512 | €48,086 | -€18,426 | -27.7% |
| Remuneration and social security | 454/9 | €91,884 | €324,291 | +€232,408 | +253% |
| Other amounts payable | 47/48 | €3,348 | €194,677 | +€191,330 | +5,715% |
| Accrued charges and deferred income | 492/3 | €536,130 | €327,946 | -€208,184 | -38.8% |
| Non-recurring operating income | 76A | - | €68,534 | +€68,534 | |
| Remuneration, social security and pensions | 62 | €1,098,627 | €1,510,906 | +€412,279 | +37.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,298 | €8,487 | +€2,189 | +34.8% |
| Other operating charges | 640/8 | €12,470 | €22,103 | +€9,633 | +77.3% |
| Gross operating margin | 9900 | €771,768 | €1,641,511 | +€869,743 | +113% |
| Operating profit (loss) | 9901 | -€345,627 | €100,015 | +€445,642 | |
| Financial income | 75/76B | €136,635 | €31,318 | -€105,317 | -77.1% |
| Recurring financial income | 75 | €136,635 | €31,318 | -€105,317 | -77.1% |
| Financial charges | 65/66B | €58,375 | €15,867 | -€42,508 | -72.8% |
| Recurring financial charges | 65 | €58,375 | €15,867 | -€42,508 | -72.8% |
| Profit (loss) for the period before taxes | 9903 | -€267,367 | €115,466 | +€382,833 | |
| Income taxes | 67/77 | €0 | €136,101 | +€136,101 | |
| Profit (loss) for the period | 9904 | -€267,367 | -€20,635 | +€246,732 | +92.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€267,367 | -€20,635 | +€246,732 | +92.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.