INALEX: 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.
INALEX
Largest movements
- Cash +€45,784
up €45,784 (+155.5%), from €29,449 to €75,233
mainly Net result for the year (+€79,365) and Other debts (+€61,833)
- Current investments +€23,868
up €23,868 (+75.7%), from €31,526 to €55,394
- Receivables after one year +€17,500
up €17,500 (+8.5%), from €204,878 to €222,378
- Receivables within one year -€14,406
down €14,406 (-45.3%), from €31,830 to €17,425
of which Trade receivables: -€12,100
- Other debts +€61,833
up €61,833 (+46.3%), from €133,658 to €195,491
- Reserves +€6,365
up €6,365 (+2.5%), from €251,097 to €257,461
- Accrued charges and deferred income +€5,380
up €5,380 (+68.2%), from €7,890 to €13,270
- Other operating charges -€8,844
down €8,844 (-83.9%), from €10,542 to €1,697
- Gross operating margin +€5,677
up €5,677 (+5.7%), from €100,293 to €105,970
- Financial charges +€4,901
up €4,901 (+56.2%), from €8,724 to €13,625
- Taxes +€1,704
up €1,704 (+9.6%), from €17,842 to €19,546
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 | €428,928 | €501,895 | +€72,967 | +17.0% |
| Fixed assets | 21/28 | €128,105 | €129,458 | +€1,353 | +1.1% |
| Tangible fixed assets | 22/27 | €128,105 | €129,458 | +€1,353 | +1.1% |
| Land and buildings | 22 | €109,222 | €105,372 | -€3,850 | -3.5% |
| Furniture and vehicles | 24 | €12,435 | €19,516 | +€7,082 | +56.9% |
| Leasing and similar rights | 25 | €6,449 | €4,570 | -€1,878 | -29.1% |
| Current assets | 29/58 | €300,823 | €372,437 | +€71,614 | +23.8% |
| Amounts receivable after more than one year | 29 | €204,878 | €222,378 | +€17,500 | +8.5% |
| Trade receivables | 290 | €204,878 | €222,378 | +€17,500 | +8.5% |
| Amounts receivable within one year | 40/41 | €31,830 | €17,425 | -€14,406 | -45.3% |
| Trade receivables | 40 | €12,100 | €0 | -€12,100 | -100.0% |
| Other amounts receivable | 41 | €19,730 | €17,425 | -€2,306 | -11.7% |
| Current investments | 50/53 | €31,526 | €55,394 | +€23,868 | +75.7% |
| Cash at bank and in hand | 54/58 | €29,449 | €75,233 | +€45,784 | +155.5% |
| Deferred charges and accrued income | 490/1 | €3,139 | €2,007 | -€1,132 | -36.1% |
| Total equity and liabilities | 10/49 | €428,928 | €501,895 | +€72,967 | +17.0% |
| Equity | 10/15 | €269,697 | €276,061 | +€6,365 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €251,097 | €257,461 | +€6,365 | +2.5% |
| Distributable reserves | 133 | €251,097 | €257,461 | +€6,365 | +2.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €159,231 | €225,833 | +€66,602 | +41.8% |
| Amounts payable within one year | 42/48 | €151,341 | €212,563 | +€61,222 | +40.5% |
| Trade debts | 44 | €2,528 | €1,228 | -€1,301 | -51.4% |
| Suppliers | 440/4 | €2,528 | €1,228 | -€1,301 | -51.4% |
| Taxes, remuneration and social security | 45 | €15,155 | €15,845 | +€690 | +4.6% |
| Taxes | 450/3 | €11,206 | €11,896 | +€690 | +6.2% |
| Remuneration and social security | 454/9 | €3,949 | €3,949 | = | 0.0% |
| Other amounts payable | 47/48 | €133,658 | €195,491 | +€61,833 | +46.3% |
| Accrued charges and deferred income | 492/3 | €7,890 | €13,270 | +€5,380 | +68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,282 | €10,459 | +€177 | +1.7% |
| Other operating charges | 640/8 | €10,542 | €1,697 | -€8,844 | -83.9% |
| Gross operating margin | 9900 | €100,293 | €105,970 | +€5,677 | +5.7% |
| Operating profit (loss) | 9901 | €79,470 | €93,814 | +€14,344 | +18.0% |
| Financial income | 75/76B | €17,739 | €18,722 | +€984 | +5.5% |
| Recurring financial income | 75 | €17,739 | €18,722 | +€984 | +5.5% |
| Financial charges | 65/66B | €8,724 | €13,625 | +€4,901 | +56.2% |
| Recurring financial charges | 65 | €8,724 | €13,625 | +€4,901 | +56.2% |
| Profit (loss) for the period before taxes | 9903 | €88,485 | €98,911 | +€10,426 | +11.8% |
| Income taxes | 67/77 | €17,842 | €19,546 | +€1,704 | +9.6% |
| Profit (loss) for the period | 9904 | €70,643 | €79,365 | +€8,722 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €70,643 | €79,365 | +€8,722 | +12.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.