IN SE: 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.
IN SE
Largest movements
- Cash +€145,384
up €145,384 (+90.6%), from €160,511 to €305,895
mainly Net result for the year (+€144,290) and Receivables within one year (+€62,909)
- Receivables within one year -€62,909
down €62,909 (-57.9%), from €108,705 to €45,796
of which Trade receivables: -€53,444
- Tangible fixed assets +€29,660
up €29,660 (+141.4%), from €20,980 to €50,640
of which Furniture and vehicles: +€29,926
- Receivables after one year +€11,749
up €11,749 (+4.8%), from €243,351 to €255,101
- Reserves +€144,290
up €144,290 (+30.2%), from €477,347 to €621,636
- Tax, wage and social debts -€11,941
down €11,941 (-66.0%), from €18,094 to €6,153
- Gross operating margin +€91,895
up €91,895 (+78.0%), from €117,825 to €209,720
- Taxes +€28,412
up €28,412 (+86.6%), from €32,809 to €61,221
- Depreciation +€2,758
up €2,758 (+21.5%), from €12,824 to €15,582
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.
Cash bridge derived
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 | €548,382 | €678,255 | +€129,873 | +23.7% |
| Fixed assets | 21/28 | €21,131 | €50,791 | +€29,660 | +140.4% |
| Tangible fixed assets | 22/27 | €20,980 | €50,640 | +€29,660 | +141.4% |
| Plant, machinery and equipment | 23 | €1,305 | €1,039 | -€265 | -20.3% |
| Furniture and vehicles | 24 | €19,675 | €49,601 | +€29,926 | +152.1% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €527,251 | €627,464 | +€100,213 | +19.0% |
| Amounts receivable after more than one year | 29 | €243,351 | €255,101 | +€11,749 | +4.8% |
| Other amounts receivable | 291 | €243,351 | €255,101 | +€11,749 | +4.8% |
| Amounts receivable within one year | 40/41 | €108,705 | €45,796 | -€62,909 | -57.9% |
| Trade receivables | 40 | €83,271 | €29,827 | -€53,444 | -64.2% |
| Other amounts receivable | 41 | €25,434 | €15,970 | -€9,465 | -37.2% |
| Cash at bank and in hand | 54/58 | €160,511 | €305,895 | +€145,384 | +90.6% |
| Deferred charges and accrued income | 490/1 | €14,684 | €20,672 | +€5,988 | +40.8% |
| Total equity and liabilities | 10/49 | €548,382 | €678,255 | +€129,873 | +23.7% |
| Equity | 10/15 | €513,347 | €657,636 | +€144,290 | +28.1% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €477,347 | €621,636 | +€144,290 | +30.2% |
| Distributable reserves | 133 | €477,347 | €621,636 | +€144,290 | +30.2% |
| Amounts payable | 17/49 | €35,035 | €20,618 | -€14,417 | -41.1% |
| Amounts payable within one year | 42/48 | €35,035 | €20,618 | -€14,417 | -41.1% |
| Trade debts | 44 | €16,358 | €9,696 | -€6,663 | -40.7% |
| Suppliers | 440/4 | €16,358 | €9,696 | -€6,663 | -40.7% |
| Taxes, remuneration and social security | 45 | €18,094 | €6,153 | -€11,941 | -66.0% |
| Taxes | 450/3 | €18,094 | €6,153 | -€11,941 | -66.0% |
| Other amounts payable | 47/48 | €583 | €4,770 | +€4,187 | +718.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,824 | €15,582 | +€2,758 | +21.5% |
| Other operating charges | 640/8 | €708 | €890 | +€182 | +25.7% |
| Gross operating margin | 9900 | €117,825 | €209,720 | +€91,895 | +78.0% |
| Operating profit (loss) | 9901 | €104,293 | €193,248 | +€88,955 | +85.3% |
| Financial income | 75/76B | €11,713 | €12,299 | +€586 | +5.0% |
| Recurring financial income | 75 | €11,713 | €12,299 | +€586 | +5.0% |
| Financial charges | 65/66B | €38 | €37 | -€1 | -1.9% |
| Recurring financial charges | 65 | €38 | €37 | -€1 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €115,968 | €205,511 | +€89,542 | +77.2% |
| Income taxes | 67/77 | €32,809 | €61,221 | +€28,412 | +86.6% |
| Profit (loss) for the period | 9904 | €83,159 | €144,290 | +€61,131 | +73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €83,159 | €144,290 | +€61,131 | +73.5% |
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 10 October 2026 via checked.be.