INELMA: 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.
INELMA
Largest movements
- Tangible fixed assets +€47,194
up €47,194 (+113.1%), from €41,727 to €88,921
of which Furniture and vehicles: +€45,025
- Cash +€5,330
up €5,330 (+36.7%), from €14,505 to €19,835
mainly Net result for the year (+€25,846) and Debts after one year (+€19,537)
- Receivables within one year -€2,870
no longer reported in 2025 (was €2,870)
- Financial fixed assets -€1,500
down €1,500 (-8.7%), from €17,174 to €15,674
- Profit (loss) carried forward +€25,846
up €25,846 (+51.1%), from €50,557 to €76,403
- Debts after one year +€19,537
new in 2025: €19,537
of which Financial debts: +€14,537
- Tax, wage and social debts -€6,826
down €6,826 (-97.5%), from €7,000 to €174
- Current portion of long-term debt +€6,000
new in 2025: €6,000
- Trade debts +€3,003
up €3,003 (+2364.6%), from €127 to €3,130
- Gross operating margin +€8,173
up €8,173 (+23.9%), from €34,168 to €42,341
- Depreciation +€4,753
up €4,753 (+114.7%), from €4,144 to €8,897
- Taxes -€1,180
down €1,180 (-14.8%), from €8,000 to €6,820
- Financial charges +€778
new in 2025: €778
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 | €76,276 | €124,430 | +€48,154 | +63.1% |
| Fixed assets | 21/28 | €58,901 | €104,595 | +€45,694 | +77.6% |
| Tangible fixed assets | 22/27 | €41,727 | €88,921 | +€47,194 | +113.1% |
| Land and buildings | 22 | €40,998 | €41,768 | +€770 | +1.9% |
| Plant, machinery and equipment | 23 | €729 | €2,128 | +€1,399 | +191.9% |
| Furniture and vehicles | 24 | - | €45,025 | +€45,025 | |
| Financial fixed assets | 28 | €17,174 | €15,674 | -€1,500 | -8.7% |
| Current assets | 29/58 | €17,375 | €19,835 | +€2,460 | +14.2% |
| Amounts receivable within one year | 40/41 | €2,870 | - | -€2,870 | |
| Other amounts receivable | 41 | €2,870 | - | -€2,870 | |
| Cash at bank and in hand | 54/58 | €14,505 | €19,835 | +€5,330 | +36.7% |
| Total equity and liabilities | 10/49 | €76,276 | €124,430 | +€48,154 | +63.1% |
| Equity | 10/15 | €69,149 | €94,995 | +€25,846 | +37.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Capital | 10 | €18,592 | €18,592 | = | 0.0% |
| Issued capital | 100 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,557 | €76,403 | +€25,846 | +51.1% |
| Amounts payable | 17/49 | €7,127 | €29,435 | +€22,308 | +313.0% |
| Amounts payable after more than one year | 17 | - | €19,537 | +€19,537 | |
| Financial debts | 170/4 | - | €14,537 | +€14,537 | |
| Other amounts payable | 178/9 | - | €5,000 | +€5,000 | |
| Amounts payable within one year | 42/48 | €7,127 | €9,898 | +€2,771 | +38.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,000 | +€6,000 | |
| Trade debts | 44 | €127 | €3,130 | +€3,003 | +2364.6% |
| Suppliers | 440/4 | €127 | €3,130 | +€3,003 | +2364.6% |
| Taxes, remuneration and social security | 45 | €7,000 | €174 | -€6,826 | -97.5% |
| Taxes | 450/3 | €7,000 | €174 | -€6,826 | -97.5% |
| Other amounts payable | 47/48 | - | €594 | +€594 | |
| Non-recurring operating income | 76A | - | €7,500 | +€7,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,144 | €8,897 | +€4,753 | +114.7% |
| Gross operating margin | 9900 | €34,168 | €42,341 | +€8,173 | +23.9% |
| Operating profit (loss) | 9901 | €30,024 | €33,444 | +€3,420 | +11.4% |
| Financial charges | 65/66B | - | €778 | +€778 | |
| Recurring financial charges | 65 | - | €778 | +€778 | |
| Profit (loss) for the period before taxes | 9903 | €30,024 | €32,666 | +€2,642 | +8.8% |
| Income taxes | 67/77 | €8,000 | €6,820 | -€1,180 | -14.8% |
| Profit (loss) for the period | 9904 | €22,024 | €25,846 | +€3,822 | +17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €22,024 | €25,846 | +€3,822 | +17.4% |
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 2 October 2026 via checked.be.