INENI: 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.
INENI
Largest movements
- Receivables after one year -€126,000
no longer reported in 2025 (was €126,000)
- Receivables within one year -€90,511
down €90,511 (-33.1%), from €273,793 to €183,282
of which Other amounts receivable: -€82,699
- Current investments -€34,088
down €34,088 (-27.9%), from €122,096 to €88,008
- Cash +€16,711
up €16,711 (+11881.8%), from €141 to €16,851
mainly Net result for the year (+€152,128) and Other debts (+€152,000)
- Profit (loss) carried forward -€396,872
down €396,872 (-100.0%), from €397,065 to €194
- Other debts +€152,000
new in 2025: €152,000
- Tax, wage and social debts +€9,673
up €9,673 (+12.7%), from €75,934 to €85,608
- Financial income +€21,635
up €21,635 (+6327.0%), from €342 to €21,977
- Gross operating margin +€20,697
up €20,697 (+12.5%), from €165,713 to €186,410
- Taxes +€6,325
up €6,325 (+17.6%), from €35,948 to €42,273
- Depreciation -€3,155
down €3,155 (-21.1%), from €14,973 to €11,818
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 | €634,968 | €394,646 | -€240,322 | -37.8% |
| Fixed assets | 21/28 | €112,939 | €106,505 | -€6,433 | -5.7% |
| Intangible fixed assets | 21 | €1,198 | - | -€1,198 | |
| Tangible fixed assets | 22/27 | €111,741 | €106,505 | -€5,236 | -4.7% |
| Land and buildings | 22 | €57,425 | €54,669 | -€2,756 | -4.8% |
| Furniture and vehicles | 24 | €10,056 | €8,141 | -€1,915 | -19.0% |
| Other tangible fixed assets | 26 | €44,260 | €43,695 | -€565 | -1.3% |
| Current assets | 29/58 | €522,030 | €288,141 | -€233,889 | -44.8% |
| Amounts receivable after more than one year | 29 | €126,000 | - | -€126,000 | |
| Other amounts receivable | 291 | €126,000 | - | -€126,000 | |
| Amounts receivable within one year | 40/41 | €273,793 | €183,282 | -€90,511 | -33.1% |
| Trade receivables | 40 | €84,934 | €77,122 | -€7,812 | -9.2% |
| Other amounts receivable | 41 | €188,859 | €106,160 | -€82,699 | -43.8% |
| Current investments | 50/53 | €122,096 | €88,008 | -€34,088 | -27.9% |
| Cash at bank and in hand | 54/58 | €141 | €16,851 | +€16,711 | +11881.8% |
| Total equity and liabilities | 10/49 | €634,968 | €394,646 | -€240,322 | -37.8% |
| Equity | 10/15 | €398,065 | €1,194 | -€396,872 | -99.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €397,065 | €194 | -€396,872 | -100.0% |
| Amounts payable | 17/49 | €236,903 | €393,453 | +€156,550 | +66.1% |
| Amounts payable after more than one year | 17 | €108,142 | €102,693 | -€5,449 | -5.0% |
| Financial debts | 170/4 | €108,142 | €102,693 | -€5,449 | -5.0% |
| Amounts payable within one year | 42/48 | €128,500 | €290,760 | +€162,260 | +126.3% |
| Current portion of amounts payable after more than one year | 42 | €5,362 | €5,449 | +€87 | +1.6% |
| Financial debts | 43 | €117 | - | -€117 | |
| Other loans | 439 | €117 | - | -€117 | |
| Trade debts | 44 | €47,087 | €47,703 | +€616 | +1.3% |
| Suppliers | 440/4 | €47,087 | €47,703 | +€616 | +1.3% |
| Taxes, remuneration and social security | 45 | €75,934 | €85,608 | +€9,673 | +12.7% |
| Taxes | 450/3 | €75,934 | €85,608 | +€9,673 | +12.7% |
| Other amounts payable | 47/48 | - | €152,000 | +€152,000 | |
| Accrued charges and deferred income | 492/3 | €261 | - | -€261 | |
| Non-recurring operating income | 76A | €1,849 | - | -€1,849 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,973 | €11,818 | -€3,155 | -21.1% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €165,713 | €186,410 | +€20,697 | +12.5% |
| Operating profit (loss) | 9901 | €150,352 | €174,192 | +€23,840 | +15.9% |
| Financial income | 75/76B | €342 | €21,977 | +€21,635 | +6327.0% |
| Recurring financial income | 75 | €342 | €21,977 | +€21,635 | +6327.0% |
| Financial charges | 65/66B | €2,334 | €1,768 | -€567 | -24.3% |
| Recurring financial charges | 65 | €2,334 | €1,768 | -€567 | -24.3% |
| Profit (loss) for the period before taxes | 9903 | €148,360 | €194,402 | +€46,042 | +31.0% |
| Income taxes | 67/77 | €35,948 | €42,273 | +€6,325 | +17.6% |
| Profit (loss) for the period | 9904 | €112,412 | €152,128 | +€39,717 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €112,412 | €152,128 | +€39,717 | +35.3% |
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 10 October 2026 via checked.be.