INEBO: 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.
INEBO
Largest movements
- Tangible fixed assets +€164,787
up €164,787 (+48.2%), from €341,818 to €506,604
of which Land and buildings: +€165,625
- Cash -€74,652
down €74,652 (-75.0%), from €99,481 to €24,829
mainly Investment in fixed assets (net) (-€178,753) and Net result for the year (-€23,909)
- Debts after one year +€106,830
up €106,830 (+27.8%), from €384,287 to €491,117
- Profit (loss) carried forward -€23,909
down €23,909, from €8,783 to -€15,126
- Depreciation +€12,761
up €12,761 (+1,059%), from €1,205 to €13,966
- Gross operating margin -€10,793
down €10,793 (-98.8%), from €10,921 to €128
- Financial charges +€7,712
up €7,712 (+800%), from €964 to €8,675
- Taxes -€3,131
no longer reported in 2025 (was €3,131)
- Other operating charges +€948
up €948 (+207%), from €459 to €1,407
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.
Derived cash bridge
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 | €446,509 | €534,485 | +€87,976 | +19.7% |
| Fixed assets | 21/28 | €341,818 | €506,604 | +€164,787 | +48.2% |
| Tangible fixed assets | 22/27 | €341,818 | €506,604 | +€164,787 | +48.2% |
| Land and buildings | 22 | €339,548 | €505,173 | +€165,625 | +48.8% |
| Furniture and vehicles | 24 | €2,270 | €1,432 | -€838 | -36.9% |
| Current assets | 29/58 | €104,691 | €27,880 | -€76,811 | -73.4% |
| Amounts receivable within one year | 40/41 | €4,835 | €3,000 | -€1,835 | -38.0% |
| Trade receivables | 40 | €4,835 | €3,000 | -€1,835 | -38.0% |
| Cash at bank and in hand | 54/58 | €99,481 | €24,829 | -€74,652 | -75.0% |
| Deferred charges and accrued income | 490/1 | €375 | €51 | -€324 | -86.3% |
| Total equity and liabilities | 10/49 | €446,509 | €534,485 | +€87,976 | +19.7% |
| Equity | 10/15 | €40,856 | €16,947 | -€23,909 | -58.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €13,473 | €13,473 | = | 0.0% |
| Distributable reserves | 133 | €13,473 | €13,473 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,783 | -€15,126 | -€23,909 | |
| Amounts payable | 17/49 | €405,653 | €517,538 | +€111,885 | +27.6% |
| Amounts payable after more than one year | 17 | €384,287 | €491,117 | +€106,830 | +27.8% |
| Financial debts | 170/4 | €384,287 | €491,117 | +€106,830 | +27.8% |
| Amounts payable within one year | 42/48 | €21,366 | €26,420 | +€5,055 | +23.7% |
| Current portion of amounts payable after more than one year | 42 | €12,713 | €13,170 | +€457 | +3.6% |
| Trade debts | 44 | €4,442 | €9,031 | +€4,589 | +103% |
| Suppliers | 440/4 | €4,442 | €9,031 | +€4,589 | +103% |
| Taxes, remuneration and social security | 45 | €3,131 | €3,131 | = | 0.0% |
| Taxes | 450/3 | €3,131 | €3,131 | = | 0.0% |
| Other amounts payable | 47/48 | €1,079 | €1,088 | +€8 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,205 | €13,966 | +€12,761 | +1,059% |
| Other operating charges | 640/8 | €459 | €1,407 | +€948 | +207% |
| Gross operating margin | 9900 | €10,921 | €128 | -€10,793 | -98.8% |
| Operating profit (loss) | 9901 | €9,258 | -€15,245 | -€24,503 | |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €964 | €8,675 | +€7,712 | +800% |
| Recurring financial charges | 65 | €964 | €8,675 | +€7,712 | +800% |
| Profit (loss) for the period before taxes | 9903 | €8,294 | -€23,909 | -€32,203 | |
| Income taxes | 67/77 | €3,131 | - | -€3,131 | |
| Profit (loss) for the period | 9904 | €5,163 | -€23,909 | -€29,072 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,163 | -€23,909 | -€29,072 |
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 13 October 2026 via checked.be.