INEO: 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.
INEO
Largest movements
- Current investments -€1.1m
down €1.1m (-51.6%), from €2.2m to €1.1m
- Receivables within one year +€207,855
up €207,855 (+103.9%), from €200,045 to €407,900
- Cash +€144,848
up €144,848 (+43.2%), from €335,054 to €479,902
mainly Current investments (+€1.1m) and Net result for the year (+€980,543)
- Reserves -€1.1m
down €1.1m (-55.6%), from €2.0m to €887,795
of which Distributable reserves: -€1.1m
- Profit (loss) carried forward +€980,543
new in 2025: €980,543
- Other debts -€730,956
down €730,956 (-99.5%), from €734,350 to €3,394
- Debts after one year -€73,958
down €73,958 (-22.6%), from €327,752 to €253,794
- Accrued charges and deferred income +€55,848
up €55,848 (+5.6%), from €992,896 to €1.0m
- Financial income +€550,062
up €550,062 (+2215.8%), from €24,824 to €574,886
- Gross operating margin +€285,832
up €285,832 (+11.8%), from €2.4m to €2.7m
- Staff costs +€232,127
up €232,127 (+14.7%), from €1.6m to €1.8m
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 | €4,547,335 | €3,678,277 | -€869,058 | -19.1% |
| Fixed assets | 21/28 | €1,731,050 | €1,652,000 | -€79,050 | -4.6% |
| Intangible fixed assets | 21 | €248,828 | €205,543 | -€43,284 | -17.4% |
| Tangible fixed assets | 22/27 | €1,481,822 | €1,446,056 | -€35,766 | -2.4% |
| Land and buildings | 22 | €1,140,969 | €1,069,649 | -€71,320 | -6.3% |
| Plant, machinery and equipment | 23 | €12,174 | €23,570 | +€11,396 | +93.6% |
| Furniture and vehicles | 24 | €328,679 | €352,837 | +€24,158 | +7.4% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €2,816,285 | €2,026,277 | -€790,008 | -28.1% |
| Stocks and contracts in progress | 3 | €755 | €716 | -€39 | -5.2% |
| Stocks | 30/36 | €755 | €716 | -€39 | -5.2% |
| Amounts receivable within one year | 40/41 | €200,045 | €407,900 | +€207,855 | +103.9% |
| Trade receivables | 40 | €200,045 | €407,900 | +€207,855 | +103.9% |
| Current investments | 50/53 | €2,217,162 | €1,072,964 | -€1.1m | -51.6% |
| Cash at bank and in hand | 54/58 | €335,054 | €479,902 | +€144,848 | +43.2% |
| Deferred charges and accrued income | 490/1 | €63,270 | €64,796 | +€1,526 | +2.4% |
| Total equity and liabilities | 10/49 | €4,547,335 | €3,678,277 | -€869,058 | -19.1% |
| Equity | 10/15 | €2,018,395 | €1,886,938 | -€131,457 | -6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,999,795 | €887,795 | -€1.1m | -55.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €935 | €935 | = | 0.0% |
| Distributable reserves | 133 | €1,997,000 | €885,000 | -€1.1m | -55.7% |
| Profit (loss) carried forward | 14 | - | €980,543 | +€980,543 | |
| Amounts payable | 17/49 | €2,528,940 | €1,791,339 | -€737,601 | -29.2% |
| Amounts payable after more than one year | 17 | €327,752 | €253,794 | -€73,958 | -22.6% |
| Financial debts | 170/4 | €327,752 | €253,794 | -€73,958 | -22.6% |
| Amounts payable within one year | 42/48 | €1,208,293 | €488,801 | -€719,492 | -59.5% |
| Current portion of amounts payable after more than one year | 42 | €72,976 | €73,958 | +€982 | +1.3% |
| Trade debts | 44 | €29,591 | €73,009 | +€43,418 | +146.7% |
| Suppliers | 440/4 | €29,591 | €73,009 | +€43,418 | +146.7% |
| Advances received on contracts in progress | 46 | €5,655 | €4,500 | -€1,155 | -20.4% |
| Taxes, remuneration and social security | 45 | €365,721 | €333,940 | -€31,781 | -8.7% |
| Taxes | 450/3 | €216,853 | €151,756 | -€65,097 | -30.0% |
| Remuneration and social security | 454/9 | €148,868 | €182,184 | +€33,316 | +22.4% |
| Other amounts payable | 47/48 | €734,350 | €3,394 | -€730,956 | -99.5% |
| Accrued charges and deferred income | 492/3 | €992,896 | €1,048,744 | +€55,848 | +5.6% |
| Remuneration, social security and pensions | 62 | €1,582,423 | €1,814,550 | +€232,127 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,183 | €249,485 | +€14,303 | +6.1% |
| Other operating charges | 640/8 | €26,789 | €40,631 | +€13,842 | +51.7% |
| Gross operating margin | 9900 | €2,419,182 | €2,705,013 | +€285,832 | +11.8% |
| Operating profit (loss) | 9901 | €574,787 | €600,347 | +€25,560 | +4.4% |
| Financial income | 75/76B | €24,824 | €574,886 | +€550,062 | +2215.8% |
| Recurring financial income | 75 | €24,824 | €574,886 | +€550,062 | +2215.8% |
| Financial charges | 65/66B | €8,325 | €8,952 | +€627 | +7.5% |
| Recurring financial charges | 65 | €8,325 | €8,952 | +€627 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €591,286 | €1,166,281 | +€574,995 | +97.2% |
| Income taxes | 67/77 | €166,499 | €185,738 | +€19,239 | +11.6% |
| Profit (loss) for the period | 9904 | €424,787 | €980,543 | +€555,756 | +130.8% |
| Profit (loss) for the period to be appropriated | 9905 | €424,787 | €980,543 | +€555,756 | +130.8% |
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 6 October 2026 via checked.be.