INADA: 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.
INADA
Largest movements
- Current investments +€85,405
up €85,405 (+51.2%), from €166,792 to €252,197
- Cash +€41,997
up €41,997 (+12.9%), from €324,464 to €366,462
mainly Net result for the year (+€136,135) and Receivables after one year (+€41,505)
- Receivables after one year -€41,505
down €41,505 (-49.6%), from €83,640 to €42,135
- Receivables within one year +€29,678
new in 2025: €29,678
- Tangible fixed assets -€8,395
down €8,395 (-12.8%), from €65,435 to €57,040
of which Land and buildings: -€6,076
- Reserves +€75,000
up €75,000 (+18.2%), from €411,860 to €486,860
of which Distributable reserves: +€75,000
- Profit (loss) carried forward +€16,135
up €16,135 (+10.6%), from €152,869 to €169,004
- Tax, wage and social debts +€15,987
up €15,987 (+42.1%), from €37,951 to €53,938
- Gross operating margin +€31,651
up €31,651 (+21.9%), from €144,628 to €176,279
- Taxes +€19,391
up €19,391 (+57.1%), from €33,970 to €53,361
- Financial income +€16,226
up €16,226 (+118.1%), from €13,737 to €29,963
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 | €641,183 | €747,511 | +€106,327 | +16.6% |
| Fixed assets | 21/28 | €65,435 | €57,040 | -€8,395 | -12.8% |
| Tangible fixed assets | 22/27 | €65,435 | €57,040 | -€8,395 | -12.8% |
| Land and buildings | 22 | €46,080 | €40,004 | -€6,076 | -13.2% |
| Plant, machinery and equipment | 23 | €2,264 | €755 | -€1,510 | -66.7% |
| Furniture and vehicles | 24 | €17,091 | €16,281 | -€809 | -4.7% |
| Current assets | 29/58 | €575,749 | €690,471 | +€114,723 | +19.9% |
| Amounts receivable after more than one year | 29 | €83,640 | €42,135 | -€41,505 | -49.6% |
| Other amounts receivable | 291 | €83,640 | €42,135 | -€41,505 | -49.6% |
| Amounts receivable within one year | 40/41 | - | €29,678 | +€29,678 | |
| Trade receivables | 40 | - | €29,678 | +€29,678 | |
| Current investments | 50/53 | €166,792 | €252,197 | +€85,405 | +51.2% |
| Cash at bank and in hand | 54/58 | €324,464 | €366,462 | +€41,997 | +12.9% |
| Deferred charges and accrued income | 490/1 | €853 | - | -€853 | |
| Total equity and liabilities | 10/49 | €641,183 | €747,511 | +€106,327 | +16.6% |
| Equity | 10/15 | €583,329 | €674,464 | +€91,135 | +15.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €411,860 | €486,860 | +€75,000 | +18.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €410,000 | €485,000 | +€75,000 | +18.3% |
| Profit (loss) carried forward | 14 | €152,869 | €169,004 | +€16,135 | +10.6% |
| Amounts payable | 17/49 | €57,855 | €73,047 | +€15,192 | +26.3% |
| Amounts payable within one year | 42/48 | €57,855 | €73,047 | +€15,192 | +26.3% |
| Trade debts | 44 | €4,347 | €2,961 | -€1,386 | -31.9% |
| Suppliers | 440/4 | €4,347 | €2,961 | -€1,386 | -31.9% |
| Taxes, remuneration and social security | 45 | €37,951 | €53,938 | +€15,987 | +42.1% |
| Taxes | 450/3 | €37,951 | €53,938 | +€15,987 | +42.1% |
| Other amounts payable | 47/48 | €15,556 | €16,147 | +€591 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,808 | €15,901 | +€93 | +0.6% |
| Other operating charges | 640/8 | €513 | €528 | +€14 | +2.8% |
| Gross operating margin | 9900 | €144,628 | €176,279 | +€31,651 | +21.9% |
| Operating profit (loss) | 9901 | €128,307 | €159,851 | +€31,544 | +24.6% |
| Financial income | 75/76B | €13,737 | €29,963 | +€16,226 | +118.1% |
| Recurring financial income | 75 | €13,737 | €29,963 | +€16,226 | +118.1% |
| Financial charges | 65/66B | €286 | €317 | +€31 | +10.8% |
| Recurring financial charges | 65 | €286 | €317 | +€31 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €141,758 | €189,497 | +€47,739 | +33.7% |
| Income taxes | 67/77 | €33,970 | €53,361 | +€19,391 | +57.1% |
| Profit (loss) for the period | 9904 | €107,787 | €136,135 | +€28,348 | +26.3% |
| Profit (loss) for the period to be appropriated | 9905 | €107,787 | €136,135 | +€28,348 | +26.3% |
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.