INE: 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.
INE
Largest movements
- Cash +€41,720
up €41,720 (+18.0%), from €231,850 to €273,570
mainly Net result for the year (+€21,771) and Depreciation (+€14,693)
- Tangible fixed assets -€13,415
down €13,415 (-69.6%), from €19,269 to €5,854
of which Furniture and vehicles: -€13,026
- Reserves +€22,544
up €22,544 (+13.3%), from €170,121 to €192,665
- Other debts +€6,302
up €6,302 (+9.0%), from €69,993 to €76,295
- Gross operating margin +€5,566
up €5,566 (+15.6%), from €35,611 to €41,177
- Taxes +€1,615
up €1,615 (+23.4%), from €6,887 to €8,501
- Depreciation -€497
down €497 (-3.3%), from €15,190 to €14,693
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 | €254,777 | €281,544 | +€26,767 | +10.5% |
| Fixed assets | 21/28 | €19,329 | €5,914 | -€13,415 | -69.4% |
| Tangible fixed assets | 22/27 | €19,269 | €5,854 | -€13,415 | -69.6% |
| Plant, machinery and equipment | 23 | €1,004 | €615 | -€389 | -38.7% |
| Furniture and vehicles | 24 | €18,265 | €5,239 | -€13,026 | -71.3% |
| Financial fixed assets | 28 | €60 | €60 | = | 0.0% |
| Current assets | 29/58 | €235,448 | €275,630 | +€40,182 | +17.1% |
| Amounts receivable within one year | 40/41 | €3,222 | €1,607 | -€1,614 | -50.1% |
| Other amounts receivable | 41 | €3,222 | €1,607 | -€1,614 | -50.1% |
| Cash at bank and in hand | 54/58 | €231,850 | €273,570 | +€41,720 | +18.0% |
| Deferred charges and accrued income | 490/1 | €377 | €453 | +€76 | +20.2% |
| Total equity and liabilities | 10/49 | €254,777 | €281,544 | +€26,767 | +10.5% |
| Equity | 10/15 | €184,127 | €205,065 | +€20,938 | +11.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €170,121 | €192,665 | +€22,544 | +13.3% |
| Distributable reserves | 133 | €170,121 | €192,665 | +€22,544 | +13.3% |
| Profit (loss) carried forward | 14 | €1,606 | - | -€1,606 | |
| Amounts payable | 17/49 | €70,650 | €76,479 | +€5,829 | +8.3% |
| Amounts payable within one year | 42/48 | €70,498 | €76,355 | +€5,857 | +8.3% |
| Trade debts | 44 | €505 | €60 | -€445 | -88.1% |
| Suppliers | 440/4 | €505 | €60 | -€445 | -88.1% |
| Other amounts payable | 47/48 | €69,993 | €76,295 | +€6,302 | +9.0% |
| Accrued charges and deferred income | 492/3 | €152 | €124 | -€28 | -18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,190 | €14,693 | -€497 | -3.3% |
| Other operating charges | 640/8 | €179 | €185 | +€6 | +3.4% |
| Gross operating margin | 9900 | €35,611 | €41,177 | +€5,566 | +15.6% |
| Operating profit (loss) | 9901 | €20,242 | €26,299 | +€6,057 | +29.9% |
| Financial income | 75/76B | €5,264 | €5,085 | -€179 | -3.4% |
| Recurring financial income | 75 | €360 | €362 | +€1 | +0.3% |
| Non-recurring financial income | 76B | €4,903 | €4,723 | -€180 | -3.7% |
| Financial charges | 65/66B | €1,190 | €1,112 | -€78 | -6.6% |
| Recurring financial charges | 65 | €1,190 | €1,059 | -€131 | -11.0% |
| Non-recurring financial charges | 66B | - | €53 | +€53 | |
| Profit (loss) for the period before taxes | 9903 | €24,316 | €30,272 | +€5,956 | +24.5% |
| Income taxes | 67/77 | €6,887 | €8,501 | +€1,615 | +23.4% |
| Profit (loss) for the period | 9904 | €17,430 | €21,771 | +€4,342 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,430 | €21,771 | +€4,342 | +24.9% |
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 4 October 2026 via checked.be.