INERGO: 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.
INERGO
Largest movements
- Current investments +€56,000
up €56,000 (+16.4%), from €342,500 to €398,500
- Tangible fixed assets -€19,936
down €19,936 (-28.9%), from €69,045 to €49,110
of which Furniture and vehicles: -€16,700
- Receivables within one year +€5,422
up €5,422 (+40.6%), from €13,367 to €18,789
of which Other amounts receivable: +€3,698
- Reserves +€42,868
up €42,868 (+9.9%), from €431,046 to €473,913
- Gross operating margin -€24,925
down €24,925 (-26.0%), from €95,939 to €71,014
- Financial income +€6,560
up €6,560 (+91.6%), from €7,163 to €13,724
- Taxes -€6,100
down €6,100 (-23.0%), from €26,519 to €20,419
- Financial charges +€1,355
up €1,355, from -€1,264 to €90
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 | €468,218 | €510,544 | +€42,326 | +9.0% |
| Fixed assets | 21/28 | €69,070 | €49,135 | -€19,936 | -28.9% |
| Tangible fixed assets | 22/27 | €69,045 | €49,110 | -€19,936 | -28.9% |
| Plant, machinery and equipment | 23 | €1,003 | €306 | -€697 | -69.5% |
| Furniture and vehicles | 24 | €53,877 | €37,178 | -€16,700 | -31.0% |
| Other tangible fixed assets | 26 | €14,165 | €11,626 | -€2,538 | -17.9% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €399,148 | €461,409 | +€62,261 | +15.6% |
| Amounts receivable within one year | 40/41 | €13,367 | €18,789 | +€5,422 | +40.6% |
| Trade receivables | 40 | €13,367 | €15,091 | +€1,724 | +12.9% |
| Other amounts receivable | 41 | - | €3,698 | +€3,698 | |
| Current investments | 50/53 | €342,500 | €398,500 | +€56,000 | +16.4% |
| Cash at bank and in hand | 54/58 | €39,154 | €42,253 | +€3,099 | +7.9% |
| Deferred charges and accrued income | 490/1 | €4,127 | €1,867 | -€2,260 | -54.8% |
| Total equity and liabilities | 10/49 | €468,218 | €510,544 | +€42,326 | +9.0% |
| Equity | 10/15 | €449,646 | €492,513 | +€42,868 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €431,046 | €473,913 | +€42,868 | +9.9% |
| Distributable reserves | 133 | €431,046 | €473,913 | +€42,868 | +9.9% |
| Amounts payable | 17/49 | €18,573 | €18,031 | -€542 | -2.9% |
| Amounts payable within one year | 42/48 | €17,872 | €18,031 | +€158 | +0.9% |
| Trade debts | 44 | €2,928 | €2,719 | -€209 | -7.1% |
| Suppliers | 440/4 | €2,928 | €2,719 | -€209 | -7.1% |
| Taxes, remuneration and social security | 45 | €7,370 | €8,086 | +€716 | +9.7% |
| Taxes | 450/3 | €7,370 | €8,086 | +€716 | +9.7% |
| Other amounts payable | 47/48 | €7,575 | €7,226 | -€349 | -4.6% |
| Accrued charges and deferred income | 492/3 | €700 | - | -€700 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,753 | €20,961 | +€208 | +1.0% |
| Other operating charges | 640/8 | €514 | €400 | -€114 | -22.2% |
| Gross operating margin | 9900 | €95,939 | €71,014 | -€24,925 | -26.0% |
| Operating profit (loss) | 9901 | €74,672 | €49,653 | -€25,019 | -33.5% |
| Financial income | 75/76B | €7,163 | €13,724 | +€6,560 | +91.6% |
| Recurring financial income | 75 | €7,163 | €13,724 | +€6,560 | +91.6% |
| Financial charges | 65/66B | -€1,264 | €90 | +€1,355 | |
| Recurring financial charges | 65 | -€1,264 | €90 | +€1,355 | |
| Profit (loss) for the period before taxes | 9903 | €83,100 | €63,287 | -€19,813 | -23.8% |
| Income taxes | 67/77 | €26,519 | €20,419 | -€6,100 | -23.0% |
| Profit (loss) for the period | 9904 | €56,581 | €42,868 | -€13,713 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,581 | €42,868 | -€13,713 | -24.2% |
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.