INATIMO: what changed
Two fiscal 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.
INATIMO
Largest movements
- Tangible fixed assets +€737,902
up €737,902 (+148.6%), from €496,599 to €1.2m
of which Land and buildings: +€738,715
- Cash +€63,821
up €63,821 (+853.4%), from €7,479 to €71,299
mainly Debts after one year (+€786,945) and Net result for the year (+€117,460)
- Deferred charges and accrued income +€30,941
up €30,941 (+43676.8%), from €71 to €31,011
- Debts after one year +€786,945
up €786,945 (+275.7%), from €285,410 to €1.1m
- Profit (loss) carried forward +€82,460
up €82,460 (+37.5%), from €220,099 to €302,559
- Trade debts -€21,263
down €21,263 (-21.0%), from €101,115 to €79,852
- Gross operating margin +€58,596
up €58,596 (+51.8%), from €113,034 to €171,630
- Financial charges +€11,408
up €11,408 (+161.4%), from €7,068 to €18,476
- Depreciation +€10,662
up €10,662 (+50.7%), from €21,019 to €31,681
- Taxes -€5,880
down €5,880 (-62.1%), from €9,463 to €3,583
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 | €723,934 | €1,557,411 | +€833,478 | +115.1% |
| Fixed assets | 21/28 | €496,599 | €1,234,501 | +€737,902 | +148.6% |
| Tangible fixed assets | 22/27 | €496,599 | €1,234,501 | +€737,902 | +148.6% |
| Land and buildings | 22 | €495,412 | €1,234,127 | +€738,715 | +149.1% |
| Plant, machinery and equipment | 23 | €1,187 | €374 | -€813 | -68.5% |
| Current assets | 29/58 | €227,335 | €322,910 | +€95,575 | +42.0% |
| Amounts receivable within one year | 40/41 | €219,786 | €220,599 | +€814 | +0.4% |
| Trade receivables | 40 | €203,668 | €205,011 | +€1,343 | +0.7% |
| Other amounts receivable | 41 | €16,118 | €15,588 | -€529 | -3.3% |
| Cash at bank and in hand | 54/58 | €7,479 | €71,299 | +€63,821 | +853.4% |
| Deferred charges and accrued income | 490/1 | €71 | €31,011 | +€30,941 | +43676.8% |
| Total equity and liabilities | 10/49 | €723,934 | €1,557,411 | +€833,478 | +115.1% |
| Equity | 10/15 | €228,159 | €310,619 | +€82,460 | +36.1% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,099 | €302,559 | +€82,460 | +37.5% |
| Amounts payable | 17/49 | €495,774 | €1,246,792 | +€751,017 | +151.5% |
| Amounts payable after more than one year | 17 | €285,410 | €1,072,354 | +€786,945 | +275.7% |
| Financial debts | 170/4 | €285,410 | €1,072,354 | +€786,945 | +275.7% |
| Amounts payable within one year | 42/48 | €210,365 | €174,437 | -€35,927 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €19,776 | €20,215 | +€440 | +2.2% |
| Trade debts | 44 | €101,115 | €79,852 | -€21,263 | -21.0% |
| Suppliers | 440/4 | €101,115 | €79,852 | -€21,263 | -21.0% |
| Taxes, remuneration and social security | 45 | €29,126 | €14,002 | -€15,124 | -51.9% |
| Taxes | 450/3 | €22,626 | €14,002 | -€8,624 | -38.1% |
| Remuneration and social security | 454/9 | €6,500 | - | -€6,500 | |
| Other amounts payable | 47/48 | €60,348 | €60,368 | +€20 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,019 | €31,681 | +€10,662 | +50.7% |
| Other operating charges | 640/8 | €637 | €430 | -€208 | -32.6% |
| Gross operating margin | 9900 | €113,034 | €171,630 | +€58,596 | +51.8% |
| Operating profit (loss) | 9901 | €91,378 | €139,519 | +€48,141 | +52.7% |
| Financial charges | 65/66B | €7,068 | €18,476 | +€11,408 | +161.4% |
| Recurring financial charges | 65 | €7,068 | €18,476 | +€11,408 | +161.4% |
| Profit (loss) for the period before taxes | 9903 | €84,310 | €121,043 | +€36,733 | +43.6% |
| Income taxes | 67/77 | €9,463 | €3,583 | -€5,880 | -62.1% |
| Profit (loss) for the period | 9904 | €74,847 | €117,460 | +€42,613 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €74,847 | €117,460 | +€42,613 | +56.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.