INELL: 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.
INELL
Largest movements
- Tangible fixed assets -€24,951
down €24,951 (-10.1%), from €246,983 to €222,033
of which Land and buildings: -€24,665
- Deferred charges and accrued income +€13,000
up €13,000 (+46.4%), from €28,000 to €41,000
- Cash +€10,186
up €10,186 (+420.0%), from €2,425 to €12,611
mainly Depreciation (+€24,951) and Net result for the year (+€15,327)
- Receivables within one year -€3,755
down €3,755 (-22.5%), from €16,694 to €12,940
of which Trade receivables: -€3,923
- Debts after one year -€33,150
down €33,150 (-54.1%), from €61,309 to €28,159
- Reserves +€15,327
up €15,327 (+15.2%), from €101,121 to €116,448
- Tax, wage and social debts +€8,858
up €8,858 (+950.3%), from €932 to €9,790
- Gross operating margin +€3,387
up €3,387 (+6.4%), from €53,191 to €56,577
- Taxes +€1,706
up €1,706 (+28.6%), from €5,967 to €7,673
- Financial charges -€630
down €630 (-25.4%), from €2,476 to €1,846
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 | €294,103 | €288,584 | -€5,519 | -1.9% |
| Fixed assets | 21/28 | €246,983 | €222,033 | -€24,951 | -10.1% |
| Tangible fixed assets | 22/27 | €246,983 | €222,033 | -€24,951 | -10.1% |
| Land and buildings | 22 | €246,697 | €222,033 | -€24,665 | -10.0% |
| Plant, machinery and equipment | 23 | €286 | €0 | -€286 | -100.0% |
| Current assets | 29/58 | €47,120 | €66,551 | +€19,431 | +41.2% |
| Amounts receivable within one year | 40/41 | €16,694 | €12,940 | -€3,755 | -22.5% |
| Trade receivables | 40 | €13,011 | €9,088 | -€3,923 | -30.2% |
| Other amounts receivable | 41 | €3,683 | €3,852 | +€169 | +4.6% |
| Cash at bank and in hand | 54/58 | €2,425 | €12,611 | +€10,186 | +420.0% |
| Deferred charges and accrued income | 490/1 | €28,000 | €41,000 | +€13,000 | +46.4% |
| Total equity and liabilities | 10/49 | €294,103 | €288,584 | -€5,519 | -1.9% |
| Equity | 10/15 | €196,121 | €211,448 | +€15,327 | +7.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €101,121 | €116,448 | +€15,327 | +15.2% |
| Distributable reserves | 133 | €101,121 | €116,448 | +€15,327 | +15.2% |
| Amounts payable | 17/49 | €97,982 | €77,136 | -€20,846 | -21.3% |
| Amounts payable after more than one year | 17 | €61,309 | €28,159 | -€33,150 | -54.1% |
| Financial debts | 170/4 | €61,309 | €28,159 | -€33,150 | -54.1% |
| Amounts payable within one year | 42/48 | €36,609 | €48,978 | +€12,368 | +33.8% |
| Current portion of amounts payable after more than one year | 42 | €32,465 | €33,150 | +€685 | +2.1% |
| Trade debts | 44 | €682 | €3,007 | +€2,325 | +340.9% |
| Suppliers | 440/4 | €682 | €3,007 | +€2,325 | +340.9% |
| Taxes, remuneration and social security | 45 | €932 | €9,790 | +€8,858 | +950.3% |
| Taxes | 450/3 | €932 | €9,790 | +€8,858 | +950.3% |
| Other amounts payable | 47/48 | €2,530 | €3,030 | +€500 | +19.8% |
| Accrued charges and deferred income | 492/3 | €64 | €0 | -€64 | -100.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,260 | €24,951 | -€309 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €7,008 | €6,781 | -€227 | -3.2% |
| Gross operating margin | 9900 | €53,191 | €56,577 | +€3,387 | +6.4% |
| Operating profit (loss) | 9901 | €20,922 | €24,846 | +€3,923 | +18.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €2,476 | €1,846 | -€630 | -25.4% |
| Recurring financial charges | 65 | €2,476 | €1,846 | -€630 | -25.4% |
| Profit (loss) for the period before taxes | 9903 | €18,446 | €22,999 | +€4,553 | +24.7% |
| Income taxes | 67/77 | €5,967 | €7,673 | +€1,706 | +28.6% |
| Profit (loss) for the period | 9904 | €12,479 | €15,327 | +€2,847 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,479 | €15,327 | +€2,847 | +22.8% |
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 3 October 2026 via checked.be.