INECT: 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.
INECT
Largest movements
- Receivables within one year +€81,356
up €81,356 (+75.9%), from €107,133 to €188,489
of which Trade receivables: +€81,077
- Cash +€74,087
up €74,087 (+63.5%), from €116,659 to €190,746
mainly Trade debts (+€148,040) and Investment in fixed assets (net) (+€27,846)
- Tangible fixed assets -€28,299
down €28,299 (-81.8%), from €34,603 to €6,304
of which Furniture and vehicles: -€14,908
- Trade debts +€148,040
up €148,040 (+357.5%), from €41,409 to €189,449
- Profit (loss) carried forward -€48,315
down €48,315 (-1482.7%), from -€3,259 to -€51,574
- Tax, wage and social debts +€17,407
up €17,407 (+29.2%), from €59,539 to €76,946
of which Remuneration and social security: +€24,645
- Short-term financial debts +€9,993
new in 2025: €9,993
- Gross operating margin +€341,839
up €341,839 (+185.7%), from €184,079 to €525,918
- Staff costs +€322,447
up €322,447 (+345.6%), from €93,301 to €415,748
- Write-downs +€63,231
new in 2025: €63,231
- Taxes -€30,139
down €30,139 (-99.7%), from €30,228 to €90
- Financial income -€9,285
down €9,285 (-78.4%), from €11,846 to €2,561
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 | €266,456 | €393,669 | +€127,213 | +47.7% |
| Fixed assets | 21/28 | €42,663 | €14,365 | -€28,299 | -66.3% |
| Tangible fixed assets | 22/27 | €34,603 | €6,304 | -€28,299 | -81.8% |
| Plant, machinery and equipment | 23 | €13,391 | - | -€13,391 | |
| Furniture and vehicles | 24 | €21,212 | €6,304 | -€14,908 | -70.3% |
| Financial fixed assets | 28 | €8,060 | €8,060 | = | 0.0% |
| Current assets | 29/58 | €223,792 | €379,304 | +€155,512 | +69.5% |
| Amounts receivable within one year | 40/41 | €107,133 | €188,489 | +€81,356 | +75.9% |
| Trade receivables | 40 | €75,068 | €156,145 | +€81,077 | +108.0% |
| Other amounts receivable | 41 | €32,065 | €32,343 | +€278 | +0.9% |
| Current investments | 50/53 | - | €69 | +€69 | |
| Cash at bank and in hand | 54/58 | €116,659 | €190,746 | +€74,087 | +63.5% |
| Total equity and liabilities | 10/49 | €266,456 | €393,669 | +€127,213 | +47.7% |
| Equity | 10/15 | €93,508 | €45,192 | -€48,315 | -51.7% |
| Contributions | 10/11 | €35,002 | €35,002 | = | 0.0% |
| Reserves | 13 | €61,764 | €61,764 | = | 0.0% |
| Distributable reserves | 133 | €61,764 | €61,764 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,259 | -€51,574 | -€48,315 | -1482.7% |
| Amounts payable | 17/49 | €172,948 | €348,477 | +€175,529 | +101.5% |
| Amounts payable after more than one year | 17 | €72,000 | €72,000 | = | 0.0% |
| Financial debts | 170/4 | €72,000 | €72,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €100,948 | €276,477 | +€175,529 | +173.9% |
| Financial debts | 43 | - | €9,993 | +€9,993 | |
| Credit institutions | 430/8 | - | €9,993 | +€9,993 | |
| Trade debts | 44 | €41,409 | €189,449 | +€148,040 | +357.5% |
| Suppliers | 440/4 | €41,409 | €189,449 | +€148,040 | +357.5% |
| Taxes, remuneration and social security | 45 | €59,539 | €76,946 | +€17,407 | +29.2% |
| Taxes | 450/3 | €37,556 | €30,318 | -€7,238 | -19.3% |
| Remuneration and social security | 454/9 | €21,983 | €46,628 | +€24,645 | +112.1% |
| Other amounts payable | 47/48 | - | €89 | +€89 | |
| Non-recurring operating income | 76A | - | €24,099 | +€24,099 | |
| Remuneration, social security and pensions | 62 | €93,301 | €415,748 | +€322,447 | +345.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,969 | €453 | -€4,516 | -90.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €63,231 | +€63,231 | |
| Other operating charges | 640/8 | €1,010 | €566 | -€443 | -43.9% |
| Non-recurring operating charges | 66A | €183 | €88,868 | +€88,685 | +48429.8% |
| Gross operating margin | 9900 | €184,079 | €525,918 | +€341,839 | +185.7% |
| Operating profit (loss) | 9901 | €84,616 | -€42,948 | -€127,564 | |
| Financial income | 75/76B | €11,846 | €2,561 | -€9,285 | -78.4% |
| Recurring financial income | 75 | €11,846 | €2,561 | -€9,285 | -78.4% |
| Financial charges | 65/66B | €4,469 | €7,838 | +€3,369 | +75.4% |
| Recurring financial charges | 65 | €4,469 | €7,838 | +€3,369 | +75.4% |
| Profit (loss) for the period before taxes | 9903 | €91,992 | -€48,226 | -€140,218 | |
| Income taxes | 67/77 | €30,228 | €90 | -€30,139 | -99.7% |
| Profit (loss) for the period | 9904 | €61,764 | -€48,315 | -€110,079 | |
| Profit (loss) for the period to be appropriated | 9905 | €61,764 | -€48,315 | -€110,079 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.