INAZ: 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.
INAZ
Largest movements
- Cash +€28,247
up €28,247 (+245.5%), from €11,507 to €39,754
mainly Depreciation (+€25,917) and Receivables within one year (+€22,524)
- Receivables within one year -€22,524
down €22,524 (-47.3%), from €47,592 to €25,068
of which Trade receivables: -€19,524
- Tangible fixed assets -€10,917
down €10,917 (-12.9%), from €84,587 to €73,670
- Tax, wage and social debts +€22,469
up €22,469 (+53.2%), from €42,222 to €64,691
of which Remuneration and social security: +€20,132
- Other debts -€18,100
down €18,100 (-34.9%), from €51,853 to €33,753
- Profit (loss) carried forward -€4,646
down €4,646 (-7.2%), from €64,849 to €60,203
- Trade debts -€3,454
down €3,454 (-78.0%), from €4,430 to €976
- Staff costs +€58,493
up €58,493 (+85.9%), from €68,072 to €126,565
- Taxes -€16,258
down €16,258 (-97.9%), from €16,599 to €341
- Depreciation +€10,662
up €10,662 (+69.9%), from €15,255 to €25,917
- Gross operating margin -€9,836
down €9,836 (-5.7%), from €173,958 to €164,122
- Other operating charges +€6,785
up €6,785 (+75.3%), from €9,015 to €15,799
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 | €166,354 | €162,623 | -€3,731 | -2.2% |
| Fixed assets | 21/28 | €106,887 | €97,470 | -€9,417 | -8.8% |
| Tangible fixed assets | 22/27 | €84,587 | €73,670 | -€10,917 | -12.9% |
| Furniture and vehicles | 24 | €84,587 | €73,670 | -€10,917 | -12.9% |
| Financial fixed assets | 28 | €22,300 | €23,800 | +€1,500 | +6.7% |
| Current assets | 29/58 | €59,468 | €65,154 | +€5,686 | +9.6% |
| Amounts receivable within one year | 40/41 | €47,592 | €25,068 | -€22,524 | -47.3% |
| Trade receivables | 40 | €44,592 | €25,068 | -€19,524 | -43.8% |
| Other amounts receivable | 41 | €3,000 | - | -€3,000 | |
| Cash at bank and in hand | 54/58 | €11,507 | €39,754 | +€28,247 | +245.5% |
| Deferred charges and accrued income | 490/1 | €369 | €331 | -€38 | -10.2% |
| Total equity and liabilities | 10/49 | €166,354 | €162,623 | -€3,731 | -2.2% |
| Equity | 10/15 | €67,849 | €63,203 | -€4,646 | -6.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,849 | €60,203 | -€4,646 | -7.2% |
| Amounts payable | 17/49 | €98,505 | €99,421 | +€915 | +0.9% |
| Amounts payable within one year | 42/48 | €98,505 | €99,421 | +€915 | +0.9% |
| Trade debts | 44 | €4,430 | €976 | -€3,454 | -78.0% |
| Suppliers | 440/4 | €4,430 | €976 | -€3,454 | -78.0% |
| Taxes, remuneration and social security | 45 | €42,222 | €64,691 | +€22,469 | +53.2% |
| Taxes | 450/3 | €27,749 | €30,086 | +€2,337 | +8.4% |
| Remuneration and social security | 454/9 | €14,474 | €34,606 | +€20,132 | +139.1% |
| Other amounts payable | 47/48 | €51,853 | €33,753 | -€18,100 | -34.9% |
| Remuneration, social security and pensions | 62 | €68,072 | €126,565 | +€58,493 | +85.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,255 | €25,917 | +€10,662 | +69.9% |
| Other operating charges | 640/8 | €9,015 | €15,799 | +€6,785 | +75.3% |
| Gross operating margin | 9900 | €173,958 | €164,122 | -€9,836 | -5.7% |
| Operating profit (loss) | 9901 | €81,616 | -€4,159 | -€85,775 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €159 | €146 | -€13 | -8.4% |
| Recurring financial charges | 65 | €159 | €146 | -€13 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €81,457 | -€4,305 | -€85,762 | |
| Income taxes | 67/77 | €16,599 | €341 | -€16,258 | -97.9% |
| Profit (loss) for the period | 9904 | €64,858 | -€4,646 | -€69,504 | |
| Profit (loss) for the period to be appropriated | 9905 | €64,858 | -€4,646 | -€69,504 |
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 29 September 2026 via checked.be.