INACTIV BLUE: 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.
INACTIV BLUE
Largest movements
- Tangible fixed assets -€115,893
down €115,893 (-27.9%), from €415,150 to €299,257
of which Plant, machinery and equipment: -€115,506
- Cash +€12,884
up €12,884 (+128%), from €10,058 to €22,942
mainly Investment in fixed assets (net) (+€82,914) and Other debts (+€55,000)
- Receivables within one year -€8,169
down €8,169 (-43.7%), from €18,674 to €10,505
of which Trade receivables: -€9,351
- Profit (loss) carried forward -€156,016
down €156,016 (-313%), from -€49,855 to -€205,871
- Other debts +€55,000
new in 2025: €55,000
- Debts after one year +€40,000
up €40,000 (+28.6%), from €140,000 to €180,000
- Trade debts -€30,707
down €30,707 (-79.5%), from €38,624 to €7,917
- Tax, wage and social debts -€17,141
no longer reported in 2025 (was €17,141)
of which Remuneration and social security: -€16,889
- Gross operating margin +€84,713
up €84,713 (+83.6%), from -€101,389 to -€16,676
- Staff costs -€52,068
down €52,068 (-35.4%), from €147,208 to €95,140
- Depreciation -€27,545
down €27,545 (-45.5%), from €60,524 to €32,979
- Financial charges -€3,192
down €3,192 (-22.6%), from €14,133 to €10,941
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 | €460,910 | €352,046 | -€108,864 | -23.6% |
| Fixed assets | 21/28 | €415,150 | €299,257 | -€115,893 | -27.9% |
| Tangible fixed assets | 22/27 | €415,150 | €299,257 | -€115,893 | -27.9% |
| Plant, machinery and equipment | 23 | €414,284 | €298,778 | -€115,506 | -27.9% |
| Furniture and vehicles | 24 | €866 | €480 | -€387 | -44.6% |
| Current assets | 29/58 | €45,760 | €52,789 | +€7,029 | +15.4% |
| Stocks and contracts in progress | 3 | €15,868 | €18,608 | +€2,739 | +17.3% |
| Stocks | 30/36 | €15,868 | €18,608 | +€2,739 | +17.3% |
| Amounts receivable within one year | 40/41 | €18,674 | €10,505 | -€8,169 | -43.7% |
| Trade receivables | 40 | €18,674 | €9,323 | -€9,351 | -50.1% |
| Other amounts receivable | 41 | - | €1,182 | +€1,182 | |
| Cash at bank and in hand | 54/58 | €10,058 | €22,942 | +€12,884 | +128% |
| Deferred charges and accrued income | 490/1 | €1,160 | €734 | -€426 | -36.7% |
| Total equity and liabilities | 10/49 | €460,910 | €352,046 | -€108,864 | -23.6% |
| Equity | 10/15 | -€19,855 | -€175,871 | -€156,016 | -786% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,855 | -€205,871 | -€156,016 | -313% |
| Amounts payable | 17/49 | €480,765 | €527,917 | +€47,152 | +9.8% |
| Amounts payable after more than one year | 17 | €140,000 | €180,000 | +€40,000 | +28.6% |
| Financial debts | 170/4 | €140,000 | €180,000 | +€40,000 | +28.6% |
| Amounts payable within one year | 42/48 | €340,765 | €347,917 | +€7,152 | +2.1% |
| Financial debts | 43 | €285,000 | €285,000 | = | 0.0% |
| Credit institutions | 430/8 | €285,000 | €285,000 | = | 0.0% |
| Trade debts | 44 | €38,624 | €7,917 | -€30,707 | -79.5% |
| Suppliers | 440/4 | €38,624 | €7,917 | -€30,707 | -79.5% |
| Taxes, remuneration and social security | 45 | €17,141 | - | -€17,141 | |
| Taxes | 450/3 | €253 | - | -€253 | |
| Remuneration and social security | 454/9 | €16,889 | - | -€16,889 | |
| Other amounts payable | 47/48 | - | €55,000 | +€55,000 | |
| Non-recurring operating income | 76A | - | €27,638 | +€27,638 | |
| Remuneration, social security and pensions | 62 | €147,208 | €95,140 | -€52,068 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,524 | €32,979 | -€27,545 | -45.5% |
| Other operating charges | 640/8 | €321 | €342 | +€21 | +6.4% |
| Gross operating margin | 9900 | -€101,389 | -€16,676 | +€84,713 | +83.6% |
| Operating profit (loss) | 9901 | -€309,443 | -€145,137 | +€164,305 | +53.1% |
| Financial income | 75/76B | €13 | €63 | +€50 | +376% |
| Recurring financial income | 75 | €13 | €63 | +€50 | +376% |
| Financial charges | 65/66B | €14,133 | €10,941 | -€3,192 | -22.6% |
| Recurring financial charges | 65 | €14,133 | €10,941 | -€3,192 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | -€323,562 | -€156,016 | +€167,546 | +51.8% |
| Profit (loss) for the period | 9904 | -€323,562 | -€156,016 | +€167,546 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€323,562 | -€156,016 | +€167,546 | +51.8% |
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 15 October 2026 via checked.be.